Missing B2B Transaction Deadlines? Let Syncrofy HelpBy: Pasquale Gatti | July 20, 2018
If you’re running a business that utilizes EDI, then you know that meeting deadlines is the name of the game. Whether it’s keeping track of inbound and outbound payments, trading partner exceptions, or sent and received documents—each one is time-sensitive and critical to your operation. Without the right tracking tool in place, they can all manifest themselves into major headaches and cost your business money. But luckily you have a secret weapon: Syncrofy!
With Syncrofy’s powerful self-service capabilities, there are many ways to stay on top of deadlines to ensure you aren’t missing payments and your partners are staying honest.
There may be a time when you’re holding onto an outbound advance ship notice (ASN) that has yet to be sent (you may have forgotten about it or someone may have dropped the ball). There’s a chance you would be hit with a fee if your trading partner does not receive it within the 24 hour deadline.
However, with Syncrofy, it’s easy to set up an SLA exception to help you be proactive when it comes to these types of situations. You can configure the system to alert the appropriate user when an ASN has not been sent to a specific trading partner within 24 hours.
But what if the ASN is sent but comes back “rejected?” This is just as costly as not sending one because you will still get hit with a chargeback. In this case, you can create a value exception in Syncrofy to alert you when there is a rejection (or an ‘R’ in the acknowledgment code).
In some cases you will even receive a “reason code” to notify you why the document was rejected (e.g. mismatch in number of line items). This will make it easier to drill down to identify the source of the rejection and fix the issue.
The Dashboards feature allows you to create dynamic visuals to help you monitor trends regarding specific trading partners. For example, you might want to determine if you’re getting paid on time and if your partners are meeting their deadlines. By leveraging the power of Syncrofy, there are several ways to figure this out.
You can create a dashboards to display the percentage of unacknowledged invoices, the number of remittance advice (820) documents you’ve received, exceptions by type (SLA or Value), or exceptions per day/week.
Depending on which method you choose, you may observe that a high percentage of your exceptions are coming for a single partner. That would allow you to dive deeper into that partner to remedy the problem (e.g. an account setup issue or other process that can be streamlined) so your deadlines are being met and you start getting paid on time again.
Documents and Reports
Oftentimes, 997s (Functional Acknowledgment) “go missing” at the most critical juncture for companies who work with EDI. It could be due to a partner forgetting to acknowledge receipt of a transaction or simply forgetting to follow up. But Syncrofy enables you to take the manual process out of the equation and eliminate human error.
You can simply set up a document filter or run a report to shed some light on the matter and figure out exactly where that response went. And you can do it for all of your EDI documents!
In the end, Syncrofy can help save you time and money by providing you visibility into your B2B transactions and allowing you to directly interact with your EDI data.
Bottom line? With Syncrofy, you can say goodbye to missed deadlines and late payments. We’ve got you covered.
To learn more about the power of Syncrofy and what it can do for your business, visit www.syncrofy.com.
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