- Software integration
- Supplier on-boarding
- Customer On-boarding
- E-invoicing (B2B)
- Software integration
- Digital signatures
- Supply chain finance
- Latin America
- North America
- ISO/NEN Audit
Three years ago, Alliance Data realised it had a problem. Underperforming metrics seemed to be the principle characteristic of its accounts payable department.
Each invoice cost $20 to process. Each person processed a low 4,500 invoices per year. Many of their invoices were paid late, and the average process time was 53 days. Radical change had [...]
e-Invoicing is mandated for all Mexican companies. Due to recent legislative changes, organisations can no longer self-generate electronic invoices but must send them through one of 77 authorised service providers, such as Buzón E. By becoming an OB10 reseller, Buzón E is introducing additional value to its fiscally compliant invoicing services by bringing touchless processing to Mexican companies.
Tungsten Corporation, accelerator of global trade through its combination of acquired e-Invoicing network OB10 with spend analytics and supply chain financing, has announced the addition of three senior level executives to its team: Lincoln Jopp (COO), David Newberry (CMO) and John Hall (Head of Major Accounts).
With the new e-invoicing technology, PNC commercial customers selecting this new technology will invite their suppliers to submit invoices through the OB10 network, a technology already in use by major U.S. trading partners. No hardware or software installations are required by suppliers.
For invoices that continue to be sent by paper during and after the OB10 enablement period, PNC’s imaging platform may be utilized to digitize all of the invoice data.
Today Tungsten (the organisation that acquired OB10 last year September) announced that Blackstone Tactical Opportunities has agreed a $200mln funding deal that will allow Tungsten to provide customers supply chain finance. Tungsten, valued at $225mln before this deal was made public, is aiming to acquire the UK arm of the First International Bank of Israel to create an invoice discounting business.
The deal shows that OB10, now a Tungsten company, is looking what lies well beyond e-invoicing: supply chain finance.
From January 2014, new Turkish regulations will require certain companies to adopt e-Invoicing. To help organisations remain compliant, OB10 and Digital Planet (a major Turkish e-Invoicing solution provider) announced a partnership to bring compliant electronic invoicing and process automation to Turkey.
In addition to adhering to regulatory requirements, the alliance offers organisations the benefits of streamlined processes, improved payment performance and the ability to capture early payment discounts.
A while ago, OB10 was acquired by Tungsten. The website “Proactiveinvestors.co.uk” wrote an article on the contract wins by OB10 that are now part of Tungsten: Alliance Data, Caterpillar, Premier Farnell and DS Smith. It has also signed a reseller agreement with Buzón E and a supply chain financing agreement with a top 10 US bank for. It shows a bit the path Tungsten is taking into 2014.
Converting your paper invoices to electronic is a significant achievement. Getting to straight-through processing, however, is another story. This webinar investigates how Imperial College, a top-ten institution in the World University Rankings, has achieved touchless processing for over 90% of its 100,000 electronic invoices. Learn from Imperial College’s experiences to bring the benefits of P2P automation to your organisation!
Last year Danny Thompson wrote a blog post on how e-Invoicing is uniquely equipped to help companies prevent invoice fraud. A recent news story is a reminder of the need for robust internal processes to mitigate abuse.
Two AP employees at a telecommunications company manipulated the system to issue duplicate payments, defrauding the business of more than $900,000. That’s enough money to make a CFO need CPR, especially given the US-based Association of Certified Fraud Examiners’ estimate that organizations around the world lose 5% of their annual revenue to fraud. The good news is that much of this can be prevented using e-invoicing and strict internal controls.
Despite all the efforts e-invoicing, invoice automation, order to cash, purchase to pay, e-procurement and so on, remain ‘intangible’ That is why we love movies, animations and of course infographics.
This time OB10 surveyed over 200 professionals about their purchase-to-pay (P2P) process and found that eliminating invoice exceptions is one of the most effective ways for Accounts Payable to cut costs. Here is an infographic of our findings, and if you’d like to learn more, you can download their complimentary eBook.
As part of its e-business strategy and because of operating in a highly competitive market, Office Depot is looking for every advantage to sharpen its pitches for new business, and e-Invoicing makes a difference to potential customers. With e-Invoicing it can now boost its online services, increases productivity and improves its buyers’ cost efficiencies. Office Depot Europe now sends invoices to 27 customers in 13 countries through OB10.