Download - 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.

E-invoicing is easy invoicing

5 BENEFITS OF GOING ELECTRONIC


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


From paper to digital…

History e-Invoicing demystified Paper versus electronic


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


E-Invoicing deliverablesData Attachments: timesheets, tax docs...Image


Paper is still a huge problem

70% of respondents received at least 50% of invoices on paperSource: IFO AP Automation Survey 2014


“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


#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


Lower Processing CostsVisit the Tungsten-Network.com website for the e-Invoicing calculator(look under “Knowledge” – “Benefits of e-Invoicing”)


“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






PAY

Paper versus e-Invoicing

$6 - $16Gartner

Average Processing

Time 12.6 Days


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


Real results: Imperial College LondonGoals: • Automate the AP process• Reduce costs• Speed up payment process• Remove paper from their AP process


“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”






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.


“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.)






Stronger Supplier RelationsA world of benefits to your suppliers…But why is this important?


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

http://www.google.co.uk/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&cad=rja&uact=8&ved=0ahUKEwiOg43LsovLAhWHWhoKHer1ClwQjRwIBw&url=http://www.pymnts.com/news/b2b-payments/2016/coupa-untangles-the-data-of-supplier-webs/&bvm=bv.114733917,d.d2s&psig=AFQjCNEe0ZCSh-EML9Qng4Z7CRPn0d0_dg&ust=1456231310641041


“The goal is to turn data into

information, and information

into insight.”

-Carly Fiorina, former CEO of HP






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


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.


After the go-live… OTHER OPPORTUNITIES

Workflowe-Invoicing Analytics Early Payment

TUNGSTEN NETWORK


How Tungsten Network customers experience the value of e-Invoicing


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


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


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.