OB10: potential savings e-invoicing up to €18 billion

March 13, 2009  |  Adoption

Organisations across all industries are feeling the impact of the current economic downturn and looking for ways to cut costs and increase efficiencies without disruption to their productivity. Ideal solutions should be implemented swiftly; leveraging earlier IT investments and not requiring large capital investments.

According to the European Commission, businesses across Europe can save up to 18 billion € by using an e-Invoicing solution. The Aberdeen report from May 2007 quotes a reduction of processing costs of 74 - 89%. Whether you are looking to cut costs quickly or sustain your business for future growth, OB10 will help you achieve your goals:

Reduction in costs – OB10 customers reduce by typically 60%
ROI in less than one year
Improve efficiency – removing manual tasks
Sustain your business growth

Focus within your organisation – improve efficiency and reduce costs
We all know that paper invoicing is inefficient, expensive and error prone. It uses expensive resources to manually input data and deal with supplier queries due to lost invoices, incorrect or missing information resulting in inefficiencies and inaccuracies which can affect cash flow management and effective forecasting.

Imagine if the manual invoice handling process could be removed. If data was received directly into your accounting system – containing all the information you require. As a business you would immediately increase efficiency, reduce processing time and costs and rely on invoice data for cash flow and forecast management.

Electronic invoicing from OB10 enables your suppliers to send data in their preferred format directly to your accounting system. We will work with you and your suppliers to ensure you receive reliable, tax compliant electronic invoice data. This not only enables you to remove manual input from the process and to focus staff on tasks that add value to your organisation, but also provides accurate real-time data to improve working capital and management reporting.

> Find out more on how e-Invoicing from OB10 works

Get the most from your suppliers
There has never been a more important time for buying organisations to support their supply chains. Suppliers are an integral, essential component of your business. Many suppliers are struggling due to the drop in business volumes, late payments and pressure being placed on them to squeeze profit-margins. It is important to you and the success of your business that your suppliers can continue to offer their services or products through the economic downturn - for your own benefit.

Reduce your costs and support suppliers with Supplier Payments
The Supplier Payments service is a powerful combination of e-Invoicing and innovative supply chain financing from Abbey UK Corporate Banking, bringing benefits to buying organisations and suppliers alike.

Developed with our partner Abbey UK Corporate Banking, this proven working capital solution reduces the cost of finance for the whole supply chain. In contrast to most other forms of supply chain financing, the payment is provided in the form of early cash to the supplier. Because payment is made early, your suppliers benefit from a reduced cost of finance and are able to provide services or products to their full potential. At the same time, you are able to support your suppliers during this difficult economic situation whilst maintaining your working capital position. Alternatively you may choose to negotiate a reduction in the cost of goods purchased.


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