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Wipro E-Invoicing

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E-Invoicing: Fulfilling the promise of collaboration

E-Invoicing: Fulfilling the promise of collaboration

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  • 1. E-Invoicing: Fulfilling the promise of collaboration1 © 2012 WIPRO LTD | WWW.WIPRO.COM
  • 2. There are many compelling reasons to adopt e-invoicing. However, adoption rates are still very low, at a mere 7% in Europe and only 27% in the USA.2 © 2012 WIPRO LTD | WWW.WIPRO.COM
  • 3. Evolution of e-Invoicing Automation with Electronic Data Extensible markup document scanning transfer (EDI) language (XML) • Data still needs to • Data can be be translated from exchanged • Similar to EDI but one system to through only a enables wider another specific file, flexibility for • Errors and record format, converting exceptions and method records on the continue agreed upon customer side so • Ongoing need for between the one supplier paper to support supplier and format can be the process customer. used for many • Invoices still get customers. lost • Length of approval cycles extends DSO and cash conversion cycles.3 © 2012 WIPRO LTD | WWW.WIPRO.COM
  • 4. Establishing an e-Invoicing strategy Identify potential partners by contacting your supplier and customer base to establish who is already using e-invoicing, who is considering it, and who is resistant to the concept. Match this segmentation with your trading volumes in terms of cost and quantity. Start with a phased roll-out. Analyze, segment, and prioritize the customer/supplier base by size, capability, and readiness to adopt. With this information, develop a tailored solution that balances your aspirations with those of your customers and suppliers. Select and implement a technology solution to enable an e-invoicing pilot4 © 2012 WIPRO LTD | WWW.WIPRO.COM
  • 5. Steps to produce an e-Invoice (Supplier side) • Prepare and generate the invoice in the Sales or Accounts Receivable system. 1 • Extract the invoice details in the Sales or Accounts Receivable system and write 2 these to a file in an agreed format. • Send the invoice file to an agreed file location to be collected by the customer or 3 e-broker.5 © 2012 WIPRO LTD | WWW.WIPRO.COM
  • 6. Steps to produce an e-Invoice (Customer side) • Collect the invoice file from the agreed file location and convert the records into the format required for 1 the customer’s Accounts Payable system. • Import the invoice details into the Accounts Payable system and perform an automated validation of 2 invoice details. • Invoices are now available for further processing (e.g., auto-matching with purchase order and 3 receipts, and workflow approval). There’s also one other key element—aligning your employees to the process.6 © 2012 WIPRO LTD | WWW.WIPRO.COM
  • 7. Benefits of e-Invoicing • Automation of customer invoicing and accounts payable invoice entry, reducing manual errors • Reduced need for expensive scanning equipment and staff • More focus on process management and resolution of exceptions, which can then be reused in other business processes • Better regulatory compliance and governance • Savings in costs - paper consumption, postage, and transportation, lower carbon footprint, less need for storage7 © 2012 WIPRO LTD | WWW.WIPRO.COM
  • 8. Conclusion • Although the implementation of e-invoicing as a collaborative solution is complex and requires careful planning and execution, today’s technology has made this process far easier to implement and with greater benefits. • We are seeing best-in-class companies—the leaders in this area—cut processing time and increase productivity while saving money. • At a time when competition is so keen and so much is at stake, e-invoicing is another differentiating tool that can aid in your organization’s success.8 © 2012 WIPRO LTD | WWW.WIPRO.COM
  • 9. For more details please visit the link below : http://www.wipro.com/Documents/resource-center/Billing_E- invoicing_April2012.pdf9 © 2012 WIPRO LTD | WWW.WIPRO.COM
  • 10. About Wipro Consulting Services Wipro Consulting Services helps companies solve todays business issues while thinking ahead to future challenges and opportunities. As a business unit of Wipro Technologies, one of the worlds leading providers of integrated consulting, technology and outsourcing solutions, we bring value to our clients through end- to-end business transformation – think, build and operate. Our model for the includes implementing lean process transformation, exploiting new technology, optimizing human capital and physical assets and structuring next generation partnering agreements that create value and win/win business outcomes for our clients. For more information, visit www.wipro.com/consulting or contact us by email at wcs.info@wipro.com10 © 2012 WIPRO LTD | WWW.WIPRO.COM
  • 11. Thank You ©Wipro Limited, 2012. All rights reserved. For more information visit http://www.wipro.com/consulting No part of this document may be reproduced in whole or in part without the written permission of the authors. Wipro is not liable for any business outcome based on the views presented in this document. For specific implementation, clients should take advice from their client engagement manager.11 © 2012 WIPRO LTD | WWW.WIPRO.COM