Maximize Value, Minimize Cost Webinar
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PayStream Advisor’s latest global survey shows that a large number of companies lag behind in their goals to adopt electronic invoicing. Supplier resistance to pay for electronic invoicing ranked as one of the primary reason organizations are unable to use electronic invoicing. With highest supplier onboarding rates in the industry, Tradeshift’s free online invoicing solutions for suppliers is revolutionizing global e-invoicing adoption. Join Tradeshift Head of Sales – EU, Alasdair McKenzie to discuss how Tradeshift can help your department lower operational costs and increase ROI by instantly onboarding your suppliers. If you work in Finance, AP or Shared Services you won’t want to miss this webinar! Learn: - How to maximize AP, finance and Shared Services efficiency - Lower operating costs - Be a part of a highly interactive Q&A - Get answers to all of your questions
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Maximize Value, Minimize Cost Webinar
- 1. Maximize Value, Tradeshift Webinar Series Minimize Cost Presented by Alasdair McKenzie Head of Sales – Europe
- 2. Agenda State of e-invoicing and AP automation Achieve 100% invoices with Tradeshift Q&A
- 3. State of E-Invoicing and AP Automation Where are we today?
- 4. Executive Summary “ ” AP automation has quickly become a lead component of a holistic P2P approach. … additional financial benefits are being revealed that directly impact the bottom line, including the ability to pay invoices on-time and even capture new discounts. Paying on-time not only avoids late fees, but it drastically improves the relationship between buyers and their suppliers; so much so that financial supply chain management is now becoming a driver in itself for AP automation. - PayStream Advisors, 2013
- 5. Motivations for AP Automation 4% 8% 20% 28% 56% 14% 24% 38% 43% Strengthen supplier relationships Obtaining incremental discounts Improve visibility into spend Better cash management Reduce overall processing cost Better invoice audit capabilities Reduce lost invoices Speed up invoice approval cycle times Remove paper from A/P department Source: PayStream Advisors, 2013 Finance-related It takes an average of 15.9 – 17.9 days to process an invoice and costs $5-$25. Source: Aberdeen Group, 2010
- 6. Anticipated Efficiency Gains Source: Aberdeen Group, 2010 Significant reduction in paper and manual data entry Improvement in labor productivity with automated matching Capture discounts with early payments Transparency and visibility 1,000 6-8,000 Invoices processed per month per FTE manual-processing automated-processing
- 7. E-Invoicing Enables AP Automation Electronic Data Touch-less Processing Visibility Analytics & Optimisation E-Invoicing AP Automation
- 8. E-Invoicing Landscape WE B EDI FTP ERP SUPPLIER BUYER Goods Receipt Match Workflow Vendor Master Data Business -specific Payment • Many network operators, limited interoperability • Suppliers charged based on per-transaction fee structure • Invoice message format differ depend on industry verticals, countries, and systems E-Invoice Networks
- 9. Barriers to E-Invoicing Adoption Source: PayStream Advisors, 2013 44% 10% 16% 10% 26% 36% 56% 25% Internal organization barriers Identify supplier contacts Tax compliance International / cross border trading Communicating benefits with suppliers Offering supplier easy to use tools Integration with suppliers Cost for suppliers Organizational-related
- 10. 70-90% of invoices received Source: SWIFT Operations Forum, 2012 E-Invoicing Reality SUPPLIER BUYER WE B EDI FTP Match Workflow Vendor Master Data Business -specific Payment E-Invoice Networks ERP Email Attachment Paper AP Clerks BPO / SSC Scanning Data Entry
- 14. What is Tradeshift? A SaaS-based business transactions platform for all business interactions between companies - from invoicing to payments, workflow and more. 196 Countries 500k Businesses 15mil. Invoices $200bn Spend
- 15. SUPPLIER BUYER SUPPLIER SUPPLIER SUPPLIER SUPPLIER E-Invoice Workflow & Matching Vendor Management Supply Chain Financing Purchase Orders Business-specific App Document Capture
- 16. Value Proposition to Suppliers • One platform to interact with all buyers: – no separate software package needed. Tradeshift connect with existing accounting and ERP software – manage business documents including quotes, purchase orders and invoices – track invoice statuses from receipt to payment – communicate with buyers • Easy-to-use, mobile-optimized web application • It’s completely FREE!
- 17. Kuenhe+Nagel chose Tradeshift Our aim is to get as close to 100% electronic invoicing as possible, with minimal cost and impact to our suppliers. It was important to us that we did not force costs on our suppliers, and we are confident that they will recognize the benefits and sign up to Tradeshift. Jon Abrahamson, Senior Vice President, IT & Finance “ ” As a global logistics and freight provider, K+N has 165,000 suppliers in 100 countries.
- 18. Onboarding results after one month Data based on suppliers participating in first wave in UK, US, Netherlands, Austria and Singapore
- 19. UK’s NHS chose Tradeshift As one of the largest NHS Shared Service organizations in the UK, we wanted to reduce the burden of handling invoice and reduce transactional costs. We reviewed several solutions and Tradeshift’s combination of being a free cloud based platform together with open standards made it a natural choice for us. Allison Balcombe, Business Development Manager, NHS/ASP “ ” As the worlds 5th largest buyer, UK’s National Health Service (NHS) runs UK health programs from hospitals to medicine and dentists.
- 20. Onboarding results after three months Data based on suppliers invited May 2011
- 21. Your Invoices Over Time Electronic Email Paper Time Volume What can we do about paper and PDF invoices?
- 22. Data Capture for Paper & PDF Eliminates manual keying and validation of paper and PDF invoices. Cloud-based OCR and invoice data capture solution. Converts paper and PDF invoices into e-invoices. No complex on-premise software required. Achieve 100% e-invoicing on day 1 Email Attachment Paper ERP
- 23. Tradeshift – your platform of choice for AP automation Maximise strategic value of AP and future-proof your business
- 24. BUYERSUPPLIER SUPPLIER SUPPLIER SUPPLIER SUPPLIER Workflow & Matching Vendor Management Payments Purchase Orders Business-specific App E-Invoice Document Capture Connect all suppliers Deliver all invoices electronically Automate AP processes Future proof new business needs
- 25. (call to action)
- 27. Q & A
- 28. Tradeshift Background Launched in 2010 by creators of Denmark’s EasyTrade and PEPPOL for the EU. EasyTrade (NemHandel) PEPPOL Tradeshift
- 29. Tradeshift Integration Options Complete list of integration options at http://tradeshift.com/integrate/ Web Application Accounting packages ERP Systems Custom Integration Tradeshift API & File Transfer
- 30. Compliance with Tradeshift Compliance review prepared on-demand by PwC or KPMG per customer requirements. Documents secured through digital signature and archiving. Tradeshift uses Universal Business Language (UBL), an e- invoicing standard used in more than 100 countries. VAT-compliant in more than 30 countries
Editor's Notes
- When you run a business, legal compliance is one of your top priorities. We know that and our compliance team go to great lengths to ensure that the platform is compliant in the countries you operate as an enterprise customer. To date Tradeshift has been certified VAT compliant in more than 30 countries and we are continiously adding to the list. Furthermore our founder team have a background from global standardization in the field of e-business and understand the many legal complexities as well as natural trade-offs between what Tradeshift does and which processes you already have in place internally, so we continually can strike the right balance the business side and the legal requirements, without inventing problems or new costs.