Last November, with the 2311 release, the SAP Business Network product team introduced Summary Invoicing for suppliers on the SAP Business Network Trading Partner Portal. Summary invoicing isnt a new concept to the network, however, it was previously limited to cXML and CSV upload invoices now. With this release, all suppliers have access to this functionality through the portal.
Summary invoicing is a capability that simplifies the order-to-invoice process by allowing suppliers to create a single invoice referencing multiple purchase orders. It consolidates multiple invoices into a single, comprehensive document, making the accounts payable process more efficient for buyers as well.
With this new capability, buyers can also require that suppliers only invoice based on shipped quantities. As such, suppliers can also select ship notices to be included in the invoice.
Key Benefits of Summary Invoicing:
- Streamline the invoicing process: Suppliers can create one summary invoice from multiple purchase orders as long as they share the same customer, company code and currency. By consolidating invoices, suppliers can reduce redundancy and enhance overall efficiency.
- Accelerate Invoice Settlement: One of the primary benefits of summary invoicing is the simplification of the payment process. Instead of handling numerous payments for individual invoices, buyers can process a single payment for the summarized amount. This not only saves time but also reduces the risk of errors associated with managing multiple transactions.
- Improved Supplier Relations: Efficient invoicing contributes to better supplier relationships. Summary invoicing allows buyers to improve payment performance. This, in turn, can lead to improved negotiations and collaboration with suppliers.
- Enhanced Financial Visibility: Summary invoicing provides buyers with a consolidated view of their financial obligations. This enhanced visibility allows for better financial planning, forecasting, and budget management.
Learn more about this feature by watching this short demo or read the release documentation.
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