Tag Archives: sourcing

Jargon: Electronic Invoice Presentment and Payment (EIPP)

Electronic Invoice Presentment and Payment, or EIPP, is more general concept (as compared to ERS discussed earlier) that is based on electronic invoice submission. ERS uses Advance Shipping Notices (ASNs) instead of invoice. However, they share benefits: avoidance of data entry, errors and exceptions, lost invoices and vendor inquiries. Most solutions are capable of receiving invoices in CSV, XML and few other formats over EDI.

EIPP or e-Invoicing is part of the larger procure-to-pay (P2P) cycle (will be writing soon on this). A huge challenge lies in supplier on-boarding: getting suppliers to automate at their end. In the current era, supplier enablement can be hastened by hosting an internet facing portal – called Supplier Portal in sourcing jargon – that suppliers can log-on to and key-in their invoices. ‘Flipping-the-PO’ is a standard feature that saves data entry effort for the supplier, and minimizes error. On referencing the PO being invoiced, information about line items viz. description, ordered quantity & price are defaulted. This helps reduce the number of expections in automated invoice matching. Imagine this as handing over your groceries list to a baniya who converts it to a bill by stamping his name and adding prices & total (and discounts if the baniya is willing to spare)


Jargon: Farm-shoring

Farmshoring refers to a specific variety of outsourcing where, apart from services being sourced outside of the contracting company, they are outsourced from urban to rural locations. Governments, especially in the US, offer incentives for shifting employment from offshore to rural communities. It is conceptually similar to onshoring (also referred to as domestic outsourcing). Continue reading Jargon: Farm-shoring

Jargon: Crowdsourcing

Crowdsourcing is a newly-coined term for delegating tasks to the open user community, and optionally rewarding results. Typical tasks include testing, verification, development, promotion and evaluation. Free-lancers in IT and contributors on the web, believed to be a key constituent of the Web 2.0 mass collaboration ideology, are central to this process. The ethical, social, and economic implications of crowdsourcing are subject to wide debate. Continue reading Jargon: Crowdsourcing