Corcentric — which specializes in purchasing, accounts payable and accounts receivable efficiency for the commercial trucking industry — has announced that it has further enhanced its accounts payable solution for Transervice Logistics, a nationwide provider of contract carriage, dedicated contract maintenance and full-service leasing for the transportation industry.
The Corcentric AP Voucher solution allows Transervice to process invoices electronically from suppliers that do not have the technical capabilities to send invoice data in an electronic format such as EDI, XML or Flat File. Transervice began using the Corcentric system two years ago to assist in implementing an electronic invoice system that would accommodate vendors who had those capabilities. This program provided a standard paperless procedure to electronically process, approve and post invoices to their accounts payable general ledger account across its more than 100 field locations.
Previously, Transervice was operating a paper-based process that involved labor-intensive manual entry and inefficient usage of personnel resources. The challenge remained in addressing vendors who did not have the capabilities to transmit invoices electronically. In facing that challenge, Transervice teamed with Corcentric in the development of the solution that enabled all Transervice locations to process and approve all vendor invoices electronically.
“Transervice presented a unique situation and required a customized system to streamline their accounting processes,” says Clint Johnston, director of technology services for McLean, Va.-based Corcentric. “Corcentric was able to work with them to determine their major problems and needs, ultimately providing a solution that improves efficiency and consistency across the country.” The online system can be accessed from any location to process invoices, in addition to allowing the corporate office to view invoices of individual locations in real time, along with purchasing histories. Transervice now conducts its entire invoice approval workflow customized to their business rules and roles in a paperless environment.
“The implementation of electronically receiving, processing and approving our vendors’ invoices has brought great benefits and cost savings to Transervice,” says Pete Hubbard, Transervice vice president of fleet operations and maintenance. “This has been experienced in the reduction of our invoice entry and coding errors, as well as the savings in invoice copying, mailing and personnel handling. The program has also enabled us to increase our business without incurring additional administrative overhead. Partnering with Corcentric in this accomplishment has been very beneficial for both parties.”
