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© Copyright Tungsten Corporation plc 2016. The information contained herein is subject to change without notice and is confidential and proprietary to Tungsten Corporation.
E-invoicing is easy invoicing
5 BENEFITS OF GOING ELECTRONIC
© Copyright Tungsten Corporation plc 2016. The information contained herein is subject to change without notice and is confidential and proprietary to Tungsten Corporation.
Today’s agenda
Brief history of electronic invoicing (e-Invoicing) e-Invoicing simplified Five major benefits of e-Invoicing Moving to e-Invoicing, how to simplify the process After the go-live, other benefits of an e-Invoicing project
Diann FergusonDirector, Business Development
Tungsten Network
© Copyright Tungsten Corporation plc 2016. The information contained herein is subject to change without notice and is confidential and proprietary to Tungsten Corporation.
From paper to digital…
History e-Invoicing demystified Paper versus electronic
© Copyright Tungsten Corporation plc 2016. The information contained herein is subject to change without notice and is confidential and proprietary to Tungsten Corporation.
What is e-Invoicing? e-Invoicing is the exchange of
compliant invoice data from suppliers directly into a buyer’s ERP or workflow system
The supplier invoice data is processed, translated, enriched and validated before creating the legally compliant invoice.
The data is delivered to the buyer in their preferred format and the digitally signed invoice is stored
© Copyright Tungsten Corporation plc 2016. The information contained herein is subject to change without notice and is confidential and proprietary to Tungsten Corporation.
E-Invoicing deliverablesData Attachments: timesheets, tax docs...Image
© Copyright Tungsten Corporation plc 2016. The information contained herein is subject to change without notice and is confidential and proprietary to Tungsten Corporation.
Paper is still a huge problem
70% of respondents received at least 50% of invoices on paperSource: IFO AP Automation Survey 2014
© Copyright Tungsten Corporation plc 2016. The information contained herein is subject to change without notice and is confidential and proprietary to Tungsten Corporation.
“In a digital business, digital
technology, for the first time,
moves into the forefront, into the
heart of what the business is
doing and how it generates
revenue, seizes competitive
advantage and produces value.”
-Ken McGee, Vice President, Gartner
#1 Major benefits of e-Invoicing
1. Lower Processing Costs2. Straight through processing
improvements3. Global Regulatory Compliant
Invoices4. Stronger supplier relations5. Greater visibility into spend
© Copyright Tungsten Corporation plc 2016. The information contained herein is subject to change without notice and is confidential and proprietary to Tungsten Corporation.
#1 Lower processing costs
Achieving these outcomes can be realized by improving in the areas of:
Manual data entryPO matchingEliminating exceptionsProcess monitoring/reporting
• Faster turnaround times• Improved reporting, visibility and control• Avoid duplicate payments• Improved cash management/working capital/liquidity• Unrecorded liabilities recognized sooner• Prompt payment discounts/negotiate favorable terms• No lost documents• Improved audit support• Fraud prevention• Reduce backlog/smoother closings• Better data to manage the business using KPI’s• AP job satisfaction (from clerical to analytical role)• Upgrade your work processes to be more agile while upgrading
your employees jobs• Drive up predictability
© Copyright Tungsten Corporation plc 2016. The information contained herein is subject to change without notice and is confidential and proprietary to Tungsten Corporation.
Lower Processing CostsVisit the Tungsten-Network.com website for the e-Invoicing calculator(look under “Knowledge” – “Benefits of e-Invoicing”)
© Copyright Tungsten Corporation plc 2016. The information contained herein is subject to change without notice and is confidential and proprietary to Tungsten Corporation.
“The challenge is the speed at
which change can happen,” he
explains. “Take Airbnb and
Hilton. It only took Airbnb four
years to build up a larger
inventory of hotel rooms than
Hilton Hotels built up in almost a
century”-Leader for EY EMEIA, 2016
Source: Laurence Buchanan, Digital
#2 Major benefits of e-Invoicing
1. Lower Processing Costs2. Straight through processing
improvements3. Global Regulatory Compliant
Invoices4. Stronger supplier relations5. Greater visibility into spend
© Copyright Tungsten Corporation plc 2016. The information contained herein is subject to change without notice and is confidential and proprietary to Tungsten Corporation.
PAY
Paper versus e-Invoicing
$6 - $16Gartner
Average Processing
Time 12.6 Days
© Copyright Tungsten Corporation plc 2016. The information contained herein is subject to change without notice and is confidential and proprietary to Tungsten Corporation.
e-Invoicing versus paper
E-Invoicing can reduce processing time to 22 minutes
End to end automation of Invoice receipt and processing can only be achieved through E-invoicing which enables
straight-through / touchless Invoice processing
Pay
© Copyright Tungsten Corporation plc 2016. The information contained herein is subject to change without notice and is confidential and proprietary to Tungsten Corporation.
Real results: Imperial College LondonGoals: • Automate the AP process• Reduce costs• Speed up payment process• Remove paper from their AP process
© Copyright Tungsten Corporation plc 2016. The information contained herein is subject to change without notice and is confidential and proprietary to Tungsten Corporation.
“Compliance risk is exponentially
more complex today. Everyone is
trying to figure out heightened
standards of compliance, when
they go into effect and how they
will impact and interrupt
businesses.”-Source: EY - InSights for NA Audit Committee Members, “Regulatory compliance: adapting to
a pressurized environment”
#3 Major benefits of e-Invoicing
1. Lower Processing Costs2. Straight through processing
improvements3. Global Regulatory Compliant
Invoices4. Stronger supplier relations5. Greater visibility into spend
© Copyright Tungsten Corporation plc 2016. The information contained herein is subject to change without notice and is confidential and proprietary to Tungsten Corporation.
Global Regulatory Compliance
Location of key operations
e-invoicing compliant countries
e-invoice data transfer enabled countries*
*Please note: Tungsten Network provides a Commercial Invoice Data Transfer Service in all other countries unless government embargo or other legal or local restrictions apply.
© Copyright Tungsten Corporation plc 2016. The information contained herein is subject to change without notice and is confidential and proprietary to Tungsten Corporation.
“Let’s get this right – you need
good and reliable suppliers.
When you find them,
treat them like gold.”-Souce: Entrepreneur – Build a Good
Relationship With Suppliers (They’re your hidden growth assets.)
#4 Major benefits of e-Invoicing
1. Lower Processing Costs2. Straight through processing
improvements3. Global Regulatory Compliant
Invoices4. Stronger supplier relations5. Greater visibility into spend
© Copyright Tungsten Corporation plc 2016. The information contained herein is subject to change without notice and is confidential and proprietary to Tungsten Corporation.
Stronger Supplier RelationsA world of benefits to your suppliers…But why is this important?
© Copyright Tungsten Corporation plc 2016. The information contained herein is subject to change without notice and is confidential and proprietary to Tungsten Corporation.
Strengthening the supply chainValue to you as a buyer
• Strengthens the Suppliers’ commitment to e-invoicing• Suppliers receive easily accessible alternative to
traditional bank finance• Creates a more robust supply chain throughout the
supplier base by improving cash flows • Access to liquidity, especially relevant for smaller
Suppliers• Supports Buyer driven extension of payment terms • Supports Corporate Social Responsibility policy
© Copyright Tungsten Corporation plc 2016. The information contained herein is subject to change without notice and is confidential and proprietary to Tungsten Corporation.
“The goal is to turn data into
information, and information
into insight.”
-Carly Fiorina, former CEO of HP
#5 Major benefits of e-Invoicing
1. Lower Processing Costs2. Straight through processing
improvements3. Global Regulatory Compliant
Invoices4. Stronger supplier relations5. Greater visibility into spend
© Copyright Tungsten Corporation plc 2016. The information contained herein is subject to change without notice and is confidential and proprietary to Tungsten Corporation.
Greater Visibility into SpendUse line-level invoice detail to uncover hidden pain…
Tax• Analyze data in real time rather than interrogating old data
• Go beyond category-level analysis to view line-level information
• Identify price variances and go straight to the original invoices
• Cross-border VAT recovery
• Compliant spend
© Copyright Tungsten Corporation plc 2016. The information contained herein is subject to change without notice and is confidential and proprietary to Tungsten Corporation.
Making the move to e-Invoicing an easy oneWe start with the right tools
• Our team of professionals will work with you to incorporate best practices into an e-Invoicing project
• We do 95% of the work for supplier onboarding
• Guaranteed service delivery that we will convert 70% of your invoices to electronic processing within 24 months.
© Copyright Tungsten Corporation plc 2016. The information contained herein is subject to change without notice and is confidential and proprietary to Tungsten Corporation.
After the go-live… OTHER OPPORTUNITIES
Workflowe-Invoicing Analytics Early Payment
TUNGSTEN NETWORK
© Copyright Tungsten Corporation plc 2016. The information contained herein is subject to change without notice and is confidential and proprietary to Tungsten Corporation.
How Tungsten Network customers experience the value of e-Invoicing
© Copyright Tungsten Corporation plc 2016. The information contained herein is subject to change without notice and is confidential and proprietary to Tungsten Corporation.
The World’s Largest Invoice Network
56%
Tungsten serves 56% of the Fortune 50067% of FTSE100
Fortune 500
$187bn
Transacts over $187 billion of invoices
annually
Invoices Processed
47
Tax and regulatory compliant in 47
countries
Compliant Countries
203k
Access to over 203,000 active suppliers on the
Tungsten Network
Suppliers on Network
Tungsten by the numbers
© Copyright Tungsten Corporation plc 2015. The information contained herein is subject to change without notice and is confidential and proprietary to Tungsten Corporation. 27
Delivering Services to the Biggest Global Brands
© Copyright Tungsten Corporation plc 2015. The information contained herein is subject to change without notice and is confidential and proprietary to Tungsten Corporation. 28
Compliant in 47 countries and counting…Europe• Austria • Belgium • Bulgaria• Croatia • Cyprus • Czech Republic • Denmark • Estonia • Finland • France • Germany • Greece • Hungary • Ireland • Italy• Latvia
• Lithuania• Liechtenstein• Luxembourg• Malta • Netherlands • Norway • Poland • Portugal • Romania • Slovakia • Slovenia • Spain • Sweden • Switzerland • Turkey • United Kingdom
Americas• Brazil• Canada • USA• Puerto Rico • Mexico
Asia & Oceania• Hong Kong • Malaysia • Philippines • Singapore• Australia • New Zealand
MEA• Kingdom of Saudi Arabia• South Africa• United Arab Emirates
© Copyright Tungsten Corporation plc 2015. The information contained herein is subject to change without notice and is confidential and proprietary to Tungsten Corporation. 29
Compliant in 47 countries and counting…
*Please note: Tungsten Network provides a Commercial Invoice Data Transfer Service in all other countries unless government embargo or other legal or local restrictions apply.