If you were to take one look at Toyota’s strong, efficient AP landscape today, you would never guess that it was once a bit stagnant and costly. But it’s true.
It wasn’t until Toyota embarked on the journey of streamlining all purchasing and payment activities into one integrated, end-to-end process, that they reached their high financial supply chain efficiency. They adopted a truly optimal P2P solution with an impressive portfolio of supplier management, eInvoicing, and dynamic discounting programs, that would also offer suppliers total visibility and self-sufficiency.
The results of this initiative? 92% of targeted suppliers enrolled in the portal, 90% e-invoicing adoption, and nearly $2 million in discounts were captured within the first year.
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