Payment guide for suppliers
Payment guide for suppliers
Digistar.ai maintains strong relationships with suppliers by fostering trust and transparency. Our finance division handles vendor payments to ensure seamless service delivery. We strive for excellence and understand that timely and accurate compensation is necessary. This payment guide outlines the procedures, terms, and policies we follow when processing payments. With the given information, you will know what to expect after sending the invoices to us.
Supplier agreement
As a supplier doing business with Digistar, you will receive an official purchase order (PO). This document specifies the scope of work, cost, and delivery expectations. Suppliers should receive a PO and complete a registration process before engaging in transactions. The registration involves providing the company name, contact address, bank account details, and tax information. We use this data to communicate with you and process your invoices. After registering, suppliers must certify the information and sign our standard supplier agreement.
Guidelines for invoice submission
Suppliers must submit an original invoice upon delivery of products or completion of services. Avoid sending handwritten or dot matrix printed invoices. It should provide the following information to ensure efficient and timely processing:
- Valid purchase order number
- Invoice number
- Service description aligned with a purchase order
- Banking information
- Pricing and currency
- Entity address
- Approved payment terms
You can send an invoice to our finance department via email or our supplier portal. It should have a sign and denote only one purchase order number. For queries related to invoice submission, feel free to contact us.
Payment Terms
We operate under specific payment terms for our suppliers. Though it is usually Net 30, we may provide extended terms (Net 45/Net 60) based on the nature of the engagement. The account payable team will refer to those terms and compute the payment due date accordingly. So, a payment term set as Net 30 means that your payment due date is 30 days after submitting a valid invoice. However, the processing timeline will change if our team finds discrepancies in the invoice. Always crosscheck the invoice carefully before sending it to our finance department.
Payment method
Our finance department follows well-defined, simplified processes to make accurate and timely payments. Generally, the payment method is via bank transfer, but we can arrange for other payment options ( such as cheque or PayPal) upon request. We suggest our suppliers submit all relevant documents soon after delivery of products/services. The payment terms start after approval of the invoice and not from the delivery date.
Resolution of payment issues
Issues that could cause delays in payments include the following:
- Missing PO number
- Inappropriate unit price
- Incorrect quantity in the invoice
- Wrong billing address
- Invalid forms
Suppliers should double-check the invoice data before submission. In case of disputes, they must notify our finance department after receiving a payment notice. We are committed to addressing payment issues promptly and providing clarification.
Payment notification
Once the payment is processed, suppliers will receive a payment notification. They will be informed about the amount, date, and payment reference number. Our company values our vendors and strives to maintain transparent payment processes. With the outlined guidelines in this document, suppliers can ensure they have a seamless experience dealing with us.
