Do you have a Rock Solid Strategy for 100% Paperless Processing?
To rely on standalone scanning or OCR for invoice processing is to maintain a commitment to paper.
RockTenn takes a different approach. As Chris Cavin, director procurement and shared services, explained on our Feb. 17th webinar entitled "Beyond Scanning & Workflow", RockTenn is moving suppliers to a true electronic invoice submission process to achieve 100% paperless, and think this is the right strategy.
RockTenn is consolidating the processing of paper and electronic invoices using the Ariba Network.Their first step was to direct all paper invoices to a single "bill-to" address with Ariba Invoice Conversion Services, which converts paper invoices to an electronic format. The second step was to offer a web-enabled supplier portal for PO-Flip™ or keying of non-PO invoices directly, or uploading bulk-billing files using EDI for higher volume invoice suppliers. So now, all RockTenn invoices are processed through the Ariba Network with a single connection to their back office ERP system.
Ariba’s PO-Flip® is proving to be an especially valuable electronic submission option. “I was surprised at the number of vendors that want PO-Flip,” Chris told the audience. “They range from our largest vendors to small, independent contractors. You can set it up in minutes and it gives you great flexibility.”
To emphasize his point, Chris told the audience that during the webinar 13 new suppliers were enabled for PO-Flip™.
To close out the webinar, I shared some findings of a recent McKenzie report entitled, “The Rise of the Networked Enterprise.” Specifically that:
Networked Enterprises are 50% more likely to
¨ Be a Market Leader
¨ Gain Market Share
¨ Achieve Higher Margins
¨ Increase sales
Here is a link to that report: http://www.mckinseyquarterly.com/The_rise_of_the_networked_enterprise_Web_20_finds_its_payday_2716
RockTenn’s rock solid strategy puts them and their participating suppliers in the category of the networked enterprise.
If you missed Chris, you can watch him on the recorded webinar at: www.ariba.com/programs/invoicenow
Nicely done Chris and congratulations to the entire RockTenn team!