Exchanging Contracts with a trading partner often still means sending information by email, followed by checking and manually entering data at the other end.
With XConnect, Qbil-Trade offers another way.
XConnect allows two trading partners to exchange Contracts directly through a secure, central connection. Both parties can follow the status of the Contract throughout the process, with a full audit trail.
How does XConnect work?
When you open a Contract and click Send, Qbil-Trade checks whether your trading partner is connected to XConnect.
If they are, the XConnect send form opens and the Contract can be sent directly. On the receiving side, it appears in the Documents received tab.
When Qbil-Trade recognizes the relation using the Chamber of Commerce or VAT number, the receiver can start processing the Contract immediately.
Received values can be mapped to the receiver’s own data, including product codes, packaging and terms. Based on the received information, Qbil-Trade can then create an automatically populated draft counter contract.
Previous contracts exchanged with the same trading partner can also help with the mapping process. A confidence score indicates how confident the system is about a suggested match.
Clear status throughout the process
Both parties can see where the Contract is in the process.
Sent and received documents are available through the Documents sent and Documents received tabs, providing a clear overview and audit trail.
The result is less manual retyping, fewer opportunities for errors and better visibility for both trading partners.
What if your trading partner doesn’t use XConnect?
Nothing changes.
If Qbil-Trade doesn’t recognize the trading partner as an XConnect participant, the existing email form opens instead. You can simply continue sending the Contract by email as you do today.
This means XConnect can become part of your existing workflow without changing the way you work with trading partners who aren’t connected.
XConnect currently focuses on the exchange of Contracts.
Would you like to know more about this? Contact us ».
Qbil-Trade users can find more information and manuals in the Qbil-Trade knowledge base.