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Monday, April 22, 2024

Product Review – ODeX Digital Platform for online document exchange and payments

The Invoices and Payments feature may be the highlight of ODeX’s offerings and could be highly sought-after by numerous customers.. The process involves simple steps:

1) Register the company on ODeX..

2) Update accurate GST information.. ODeX has implemented a verification step to ensure the GST information is correct, and compliant with regulatory requirements, and that neither the entity raising the invoice nor the payee experiences delays due to inaccuracies in this information..

3) Once the GST information is verified, the system is prepared to receive the invoice and payment.. When the shipping line’s invoice is ready, it appears on the platform, and the customer is notified with a payment link.. Customers can download the invoice and also can pay using ODeX..

4) Upon receiving the invoice, the customer can make a payment using the “Quick Pay” option through Internet banking, credit card, UPI, or virtual bank accounts..

If a shipper wishes to assign the payment to their forwarder, ODeX has accommodated this with the “Agent Mapping” feature in the e-invoice dashboard..

The shipper can provide their forwarder’s details (who must be registered on ODeX), enabling the forwarder to receive the same information a shipper would and process the payment on the shipper’s behalf..

The advantage of receiving and paying invoices through the ODeX platform is that customers can access the delivery order or bill of lading from the shipping line immediately..

Generally, shipping lines release these documents only once the funds are reflected in their account, which could take several valuable days but the ODeX platform reduces it to 2-4 hours..

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