IBM - Process Excellence (PEX) for On Time Payment

IBM On Time Payment application uses a proprietary IBM Process Excellence framework to help businesses streamline their Supplier Payment process. This includes displaying the entire real time payment data on a single dashboard as well as sending the real time alerts via action flows to Financial and Procurement leaders. This helps them to take corrective measure, reduce late penalties and increase Supplier satisfaction.

Payment Detail view shows the detailed payment status including invoices paid late and paid on time based on Vendors, Plant, Invoice types, Accounting document type, etc.

The Payment Due dashboard displays the list of Vendor’s accounting document where the payment is due within 3 days. The accounts payable team automatically receives an email alert once the accounting document number is due for payment within 3 days. This helps the AP team to priortize the Vendor Invoices which are due for payment and avoid late payments and penalities.

The Late Payment dashboard displays the list of top 10 or top 25 or top 50 (depending on client requirment) Vendor’s where Invoices have being paid late. The consodidated repot is sent to Accounts Payable team as well as Procurement Team so that the above Vendors can be priortized in the next payment cycle.