Finance & Invoice
Management

How It Works

The Finance module in My Supplier List gives procurement and finance teams a shared view of supplier spending, invoice tracking, and financial performance.

Invoice records are logged against each supplier with key details: invoice number, date, amount, payment terms, and status. You can track whether invoices are within contracted rates, flag discrepancies, and monitor payment timeliness. For organisations that connect their accounting system through the API (Xero, Sage, or QuickBooks), invoice data can be synced automatically rather than entered manually.

Spend analysis provides aggregated views of how much you are spending with each supplier, category, or department over any time period. This lets you spot trends such as spend creep with a particular supplier, over-reliance on a single vendor in a critical category, or savings opportunities where multiple departments are buying similar services from different suppliers.

The dispute management feature provides a structured process for handling invoice disagreements. When a dispute is raised, it is logged with the details, assigned to someone for resolution, and tracked through to closure. Both sides can add comments and supporting documents. This replaces the email chain approach where disputes drag on because nobody can find the original correspondence.

Financial SLAs let you define payment performance targets and measure your organisation's payment behaviour alongside the supplier's invoicing accuracy. This two-way accountability is useful for public sector organisations that have prompt payment obligations.

Financial metrics feed into the supplier's overall risk profile through the Financial pillar of the 5-Pillar Risk Engine, so a supplier with consistently disputed invoices or declining financial health will see their risk score adjust automatically.