P2P Global Process Owner, Greg Liebe is excited about the progress made in e-invoicing. Sixty per cent of their 1.8 million invoice volume is electronic, and 50% of this volume is touchless. Join Greg as he shares his experience of using the Tungsten Network to onboard 4000 suppliers and convert 800,000 invoices to electronic.
Imperial College London is no stranger to e-invoicing. Their initial priorities were reducing costs, speeding up the payment process and reducing arduous manual processing. Recently, they have explored ways to support foreign invoices and have set a goal of 100% e-invoicing.
Schneider Electric were facing a multitude of problems within their AP department. 90% of their invoices were paper-based, teams were located at 3 different offices dealing with several legacy accounting systems and multiple vendor master files.
Tungsten has found that companies spend on average about 370 hours per week resolving P2P process issues – time that would be freed up by a straight-though automated solution. And yet, some companies are hesitant to implement new AP technology.
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