The software, which is part of PeopleSoft's Financial Management Solutions, is aimed at improving the efficiency of the financial supply chain. PeopleSoft said that eSettlements provides a common platform for buyers and sellers to exchange and match transactions, such as purchase orders, receipts, and invoices.
With electronic invoice presentation and payment, companies are able to receive invoices electronically, send alerts and notifications, and resolve disputes online.
PeopleSoft said the software also allows buyers to extend their business rules regarding procurement and payment, such as matching and payment selection criteria. The company claimed that sellers can also benefit from EIPP by improving their customer relationships and reduce days sales outstanding through online tracking and resolution of payment issues.