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Rebranded: Gather&Co to INHX

Swipe: Load-Match-Settle

INHX

Businesses try their best to avoid potential losses whether or not they share friendly relations with their trading partners, hence at the transactional stage of dealings, both parties require checks in place, to avoid deviations and to stay well informed, stress-free, and most importantly, to keep the aspect of distrust at bay.

The eXchange offers swipe, a feature that helps trade partners make payments directly through the system to avoid potential dispute and provide a safe platform for reconciliation if need be, between supplier and dealer, for running smooth operations.

Swipe assists to pick up the pace, as it cuts the cycle time drastically, improves overall alignment, and builds confidence between trade partners, as it forgoes the need for several different payment formats for multiple trade partners transactions based on numerous portfolios, sold in different markets. Forgoing the time and effort required to asses accuracy of orders as account settlement is based on chronology.

The eXchange offers:

  • Systematic invoice settlement
  • Obviating various payments modes
  • Minimized confusion amongst various channel partners and their adopted systems
  • Payment synchronization across distribution network
  • Accurate application of order settlement - invoice by invoice
  • Accurate salesforce remuneration

The eXchange leverages a mobile account concept where the availability of funds can be reflected on the eXchange to enable channel partners to choose which invoice they want to settle as and when necessary, making multiple settlements with ease. 

 

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Dealing at the payment stage

At the payment stage in an order process, traditionally you would employ recourses to focus on reconciliation of payments. In the near future, the eXchange will allow you to make invoice settlements with all your trade partners on the platform. If there is credit involved between a buyer and a seller, there are bound to be multiple invoices to keep track of. Besdies, the nature of the invoice will vary based on the multiple different trade partners, their multiple portfolios, sold in multiple different markets.The eXchange lets you keep track of all such overwhelming tasks, for reconciliation over trade agreements on a single platform.

Tracking trade partner payments:

Once a payment is credited to your bank you would normally spend time and effort to asses accurate application or in another instance you would simply pick up the payment and would put it under on account settlement, which is ideally a FIFO settlement, as invoices are usually settled based on chronology. This can get further complicated, whereas potentially there could be a scenario where the invoice which was by chronology appearing first up in the list has a higher credit period available.

There are a host of issues that stem from not settling invoice by invoice. For one, sales representatives work on different portfolios, and every sale generated adds up to their remuneration. If an incorrect sale is accounted for a different sales representative gets paid someone elses dues. This can have an impact on their incentives. So there are multiple implications of not having accurate information recorded, when the money actually hits the bank. 

How the eXchange lets you track payments:

We have leveraged a mobile account concept where the availability of funds can be reflected on the eXchange to the buyer, who is then able to go and choose which invoice they are actually settling, and it gets applied at the lowest level, making multiple settlements with ease. 

Multiply Growth. Multiply Efficiency. Contact Us.

Last edited: August 3, 2018