OB10 and Schneider Electric Demonstrate Real ROI Through e-Invoicing

Jun 09, 2009, 09:27 ET from OB10

OB10 and Schneider Electric North America co-host webinar to demonstrate e-invoicing's ability to drive out costs and improve cashflow.

ATLANTA, June 9 /PRNewswire/ -- OB10, the leading global e-Invoicing network, and Schneider Electric, one of the world's leading suppliers of power, control and automation solutions, recently co-hosted the webinar Implementing e-Invoicing & Payment to Drive Out Costs & Improve Cash Flow Management. The purpose of the webinar was to provide a real-world case study of how joining the OB1O e-Invoicing Network can facilitate organizational cost savings and improve cashflow management.

Jointly hosted by Pam Carper, Manager of Disbursements - Schneider Electric, North America and Thayer Stewart, Vice President, Marketing and Business Development - OB10, the webinar allowed Schneider Electric to describe their AP environment prior to joining OB10, those key drivers responsible for the change and the benefits experienced as a result.

"Before we made the switch to OB10, we were not unlike many other global organizations with highly manual AP processes and multiple legacy systems," said Carper. "With 90% of our 650,000 invoices being manually keyed and 10% being handled through EDI, Schneider Electric was set to migrate to SAP in 3 years in an effort to incorporate greater efficiency. Although we were committed to that timetable, we did not want to wait that long without continued optimization in AP."

Since joining the OB10 network, Schneider Electric has enrolled the majority of targeted suppliers, significantly reduced errors, reduced cycle times and increased straight through processing - resulting in realized savings of over $200,000 to date and $500,000 in anticipated savings over the next few years.

To achieve these objectives, Schneider considered several alternatives, including outsourcing a portion of their AP functions, increasing their EDI capability and implementing an OCR solution.

"We were skeptical of the performance of OCR and realized, after limited implementation in one of our regions, it may not fully live up to our expectations," said Carper. "EDI was not feasible as well, as we were only able to enroll 10 of our suppliers after several years."

"While doing our due diligence regarding OCR, we were introduced to electronic invoicing as another viable option," added Carper. "The more we considered it, the more it made sense because it worked with our legacy systems and didn't require hardware or software investments."

Carper and the team at Schneider were pleased with the ability of OB10's e-Invoicing solution to interface with legacy systems, easily transition to SAP in three years, accommodate their suppliers - regardless of size, effectively enable supplier enrollment and offer global coverage that could be leveraged by other Schneider divisions.

"OB10 offered Schneider a comprehensive package that included e-Invoicing, PO validation and PO flip," said Thayer Stewart. "In addition to the ability to receive invoices electronically from their suppliers, PO Validation ensures that the PO and PO line numbers are valid and open while PO Flip allows the lower volume Schneider suppliers to log into the OB10 web portal and quickly flip PO's into invoices, further reducing the chance for errors and increasing efficiency."

"Schneider Electric has realized significant benefit by implementing OB10's e-invoicing solution," added Carper. "In addition to cost savings, we've reduced errors and cycle times, increased our straight through processing capability and positioned Schneider Electric as a more efficient producer and distributor or energy."

To listen to the entire webinar, including the Q&A session, go to the OB10 Web site and choose the link - Schneider Electric: Implementing e-Invoicing & Payment to Drive Out Costs & Improve Cash Flow Management at: http://ob10.com/Country/US/Webinars_2

About OB10

OB10 (www.OB10.com) is the leading global B2B e-Invoicing network. OB10 simplifies and streamlines the complex invoice-to-pay processes. Neither client organizations nor their suppliers are required to implement any hardware or software, and OB10 is independent of data file formats. OB10 can reduce the cost of paper invoice processing by typically 60 percent and can deliver an ROI in less than a year if the program follows OB10's best practice guidelines. Operational across Europe, North America and Asia, OB10 is compliant with the requirements of VAT, tax and e-Invoicing legislation and receives invoices from suppliers in over 100 countries. To ensure unrivalled and rapid supplier enrollment, each new customer's suppliers are supported by an implementation services team responsible for getting them up and running on the OB10 network.

Customers include: Agilent Technologies, Apple, BP, Barclays, Cargill, DHL, DSG International, Eli Lilly & Company, Fisher Scientific, General Motors, GlaxoSmithKline, Hewlett Packard, IBM, Kellogg's, Kraft, Logica, Lufthansa, Mohawk Industries, Motorola, Norwich Union, Pfizer, SaraLee, Schneider Electric, Shaw Industries, Steria, US Federal Government, VWR and Xerox.

    Company Contact
    Ernie Martin, Marketing Manager, OB10
    tel: 770-668-1346
    email: ernie.martin@OB10.com

    website: www.OB10.com

    Press Contact
    Jackie Parker, Vice President, Arketi Group
    tel: 404-929-0091, ext. 220
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About Schneider Electric

As a global specialist in energy management with operations in more than 100 countries, Schneider Electric offers integrated solutions across multiple market segments, including leadership positions in energy and infrastructure, industrial processes, building automation, and data centers/networks, as well as a broad presence in residential applications. Focused on making energy safe, reliable, efficient, productive and green, the company's 114,000 employees achieved sales of more than $23 billion in 2008.