Wells Fargo Home Page

Invoice Management

The new approach to invoice management

Help reduce costs, improve efficiencies, and maximize your company’s working capital automated account payable processes with Invoice Manager.

Invoice Manager is a service that combines paperless invoice processing, access to a no-cost supplier community, and optional electronic payment and remittance services. When you use Invoice Manager, you can streamline invoice processing, improve accuracy, capture early-pay discounts, and free your accounts payable staff to focus on key strategic activities.

How the new Invoice Manager service works

  1. Your suppliers send their invoices — in one of many paper or electronic format options — to the supplier community for processing. You can also deliver purchase orders to your suppliers through the supplier community for order fulfillment and invoice creation.
  2. Wells Fargo captures each invoice and verifies that required data is complete.
  3. Depending on your processes, invoices are either routed directly to your AP system for processing internally, or you can use the online workflow management tool for invoice routing and approvals.
  4. You schedule invoices for payment online or within your AP system and, through Payment Manager® , Wells Fargo executes the payments based on your preferred disbursement method.
  5. Wells Fargo posts remittance information online for suppliers to view and download.

Easy supplier communication and onboarding

Invoice Manager is designed to accommodate the needs of all your suppliers, from the independent business person to Fortune 100 companies. Electronic invoicing is free for your suppliers. With participating suppliers in 170 countries and in 22 languages, this collaborative environment lets you capture and consolidate invoice traffic for maximum efficiency. The system is secure, easy to use, and efficient.

Dynamic discounting

Also known as “early pay discounting,” dynamic discounting notifies a supplier that an invoice is approved and can be paid early with a discount. You determine the discount rate you would like to receive from your suppliers. The suppliers get maximum flexibility and you get the appropriate base discount rate your company needs.

Purchase order (PO) processing

Invoice Manager supports both standard and blanket POs and ensures that each invoice matches contracted PO pricing and quantities, eliminating the need for time-consuming manual verifications. Smart functionality reduces invoice errors, overpayments, and duplicate payments.

Seamless invoice processing

Invoice Manager simplifies the workflow — including approvals, exception handling, tracking, and reporting. Our automated routing can be integrated with your systems to maintain up-to-date information and make sure hierarchies and approver information are accurate. The end result is that the e-invoice goes to approvers and not to the payables department. Powerful functionality reduces the risk of overpayments and duplicate payments, and may create documentation and audit trails for Sarbanes-Oxley compliance.

Total payables solutions

Combine Invoice Manager with the Payment Manager® service from Wells Fargo for an even more efficient electronic payment stream from invoice presentment through payment. Automating payments can improve operational efficiency, raise credibility among suppliers, and open up new opportunities to negotiate discounts. Converting to electronic payments may eliminate the cost, risk, and excess time involved with paper checks.