ComplyWorks Ltd. is pleased to expand the release of its eProcurement Solution to all of North America. eProcurement is the first solution to combine electronic invoicing with compliance verification to empower clients, so clients can immediately reduce fines after deployment. The eProcurement Solution is the result of a strategic partnership between ComplyWorks and ProcureDox.
“Allowing employers to check compliance status of a third-party contractor before issuing a PO and at the point of payment creates a complete prequalification to payment solution unlike anything in the marketplace today,” said Cal Fairbanks, CEO and president of ComplyWorks. “This compliance check is essential for many industries, especially in the energy sector. By not doing a compliance check at the time of payment companies are leaving money on the table.”
Failure to verify compliance at the time of payment on an invoice or when issuing a purchase order (PO) increases the companies risk and can result in steep fines for companies. eProcurement makes it easy for companies to comply with regulations, so they aren’t subject to these fines. The solution will also provide companies with further insight into their invoicing with spend reporting to see how much money is spent employing non-compliant contractors.
“We are very proud of this collaborative solution,” said Ibrahim Hamouda, CEO and president of ProcureDox. “It really combines some of the best parts of our offerings and makes it easy for participating contractors and employers to reduce their workload, increase the visibility of compliant contractors to employers and get paid sooner.”
eProcurement is fast, efficient and secure, making electronic invoicing simple and seamless for both employers and their contractors, no matter what financial system they use. It does this regardless of how invoices or purchase orders are sent – fax, mail or electronically, eProcurement can handle them all.