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Xchange eCommerce Solution
With a large customer community in the construction industry using our financial software to manage their operations RedSky IT responded to the demand for electronic commerce (ecommerce) functionality.
The industry carries out a huge amount of purchasing, a lot of which is still done manually, over the phone and by using purchase order processing software and input of associated received invoices such as that offered within our financial software packages.
Companies gain the benefits of automating the purchasing process using our software through invoice and GRN matching and by using site requisitions. However, there is always a manual process - ringing suppliers to confirm orders, posting the orders, receiving printed invoices - all of which costs businesses time and money.
The Xchange Solution
We developed and deployed an opportunity for any users of our financial software that have the Purchase Order Processing module to send electronic Business-to-Business (B2B) transactions to their suppliers.
Also any customers wishing to receive invoices electronically can add this functionality on a per transaction cost basis.
The software, called Xchange, is included within our financial software products. All our customers need to do is register to use it and start trading orders electronically with their suppliers and partners.
If you wish to include or just have purchase invoices being received electronically then you can use our Xchange solution along with our partner (Tradex) who has all the links in place to Etrade purchase invoices with your suppliers
So what does Xchange & Tradex allow you to do?
In simple terms, you can send purchase orders electronically to your suppliers. If they have registered to receive Xchange orders electonically, then your order data will go seamlessly into their sales order processing system. Otherwise the Xchange produced order will simply appear on their fax.
The Xchange Tradex enabled supplier can then issue their invoice back to you electronically, which will mean that the invoice can drop straight back into your financial system, for matching (which could be automatic and a seamless process).
The real benefits of using Xchange & Tradex
Speeds up ordering - a click of the mouse and the order is sent out. You can still print it if needed. The order therefore will be received instantly with any postal delays - which means you get your materials to site sooner.
Saves you time by avoiding the admin of printing the order, putting it into an envelope and getting it posted. If you process hundreds of orders a week - it will be a huge time saving allowing staff to focus on more proactive buying tasks.
Saves you money - a typical order could cost up to £1 each time - covering the stationery, the cost of the stamp, admin time. Xchange charges a fee of 25p per order - less than the cost of your stamp.
"The impact Xchange would have on our ordering process was immediately obvious. Our Group has 3 buying departments each processing 50 orders a day. Our buyers would use either fax or telephone to place the order, with 75% of orders taking 15 minutes of our buyer’s time. The cost of the call could reach over £1 per order. So quickly I could add up the cost of placing an order and this was far more than the cost of ordering via Xchange”
Gary Spicer, Finance Director - The Knight Group