# What is ALTO Exchange used for? What is ALTO Exchange used for? ##### Post Metadata

# What benefits does it deliver? The O&G producer and vendors are all thrilled with the results! Benefits include: - Coding and pricing errors are virtually eliminated through use of the ALTO Exchange™ integrated online product and service catalogues - Vendors are being paid to terms and the producer is now taking advantage of early pay discounts - Suppliers are easily able to track their portfolio of receivables on demand - A significant amount of time freed-up from tracking the process and correcting information within both the vendor and producer organizations. ##### Post Metadata - Net upvotes: 1

# How was it developed? ALTO Exchange™ was developed to address a real need, and created from within a mid-size O&G producer in Calgary, AB. ICG and the producer had implemented ALTO Accounts Payable ™. With the benefits gained from the producer using ALTO AP™, ICG identified the opportunity to extend the automation and transparency of the AP work process. The decision was made to create an interface between vendors and producers. ICG worked with the producer and suppliers, captured their concerns and developed an industry leading B2B portal that creates a seamless connection between vendors and producers — improving the quality, accuracy and speed of information flow. The result of all that work is ALTO Exchange™. ##### Post Metadata - Net upvotes: 1

# What does it do? It automates and integrates the supplier invoicing process with the producer payment process. However, It is much more than that. ALTO Exchange™: - Enables vendors to provide and easily maintain an integrated online product/service catalogue, automating product coding and eliminating errors - Makes the customer invoice payment process completely transparent to vendors - Enables vendors to easily enter and submit invoices online, ensuring correct coding - Allows use of templates (including Excel) and easy import/export of data for repeatable processes ##### Post Metadata - Net upvotes: 1

# What is it? Industry standard business-to-business (B2B) portal that facilitates better communication and integration of ALTO AP™ with supplier billing systems, further improving the overall payment process. Vendors are able to easily submit accurate invoices and track the progress of the producer approval and payment process; speeding up the process and virtually eliminating errors. ##### Post Metadata - Net upvotes: 1

# Does ALTO Exchange™ save producers and suppliers time? It ensures that information (cost center, pricing, etc.) is entered correctly the first time. Then it streamlines and tracks the process for invoicing, approval and payment. ALTO Exchange™ significantly reduces the time spent managing the accounts payable process. ##### Post Metadata - Net upvotes: 1