With Invoice Payment Reporting, retailers can automatically inform suppliers when they’ve paid a net-terms invoice, eliminating the need for manual communication. Once notified, suppliers can confirm receipt, after which the associated paid orders are archived, simplifying record-keeping. This feature enhances transparency and efficiency, allowing retailers and suppliers to manage payments and records more effectively.
Crowdship’s Invoice Payment Reporting feature streamlines the payment confirmation process for retailers using net-terms agreements with their suppliers. When a retailer makes a payment on a net-terms invoice, Crowdship automatically sends a notification to the supplier, informing them of the payment. This automated update reduces the need for follow-up emails or manual reminders, ensuring that suppliers are promptly informed about payments and can verify them without delay.
Once the supplier confirms that the payment has been received, the orders included in the batch invoice are automatically archived. This archiving process simplifies order management for both retailers and suppliers, allowing them to keep their records organized and focus on current transactions. For retailers, this feature eliminates the hassle of managing open orders that have already been paid for, improving efficiency and accuracy in financial record-keeping.
Invoice Payment Reporting not only improves communication between retailers and suppliers but also promotes smoother financial workflows by automating key steps in the payment process. Retailers benefit from clear, automated notifications that reduce the risk of misunderstandings or missed payments. Overall, this feature enhances transparency, accountability, and operational efficiency, allowing retailers and suppliers to maintain strong, organized financial relationships between dropship retailers and their suppliers.
