Spectrum Enterprise Software Automates Invoicing to Cut Errors and Streamline Payment Cycle
Guildford, UK (23rd February 2010) - Moto, the UK's largest provider of Motorway Service Areas with 4,500 staff covering 48 motorway sites across the UK, today announced it has successfully completed the implementation of Spectrum Enterprise software from Freeway Commerce, an Inovis company, to automate invoicing, improving the efficiency of this process to ensure faster and more accurate payments to its suppliers. The solution is part of a broader e-commerce project which has helped Moto to make considerable savings by reducing manual data input and streamlining processes associated with its e-Ordering and Electronic Data Interchange (EDI) environments.
Moto exchanges more than 50,000 documents each month with suppliers to its outlets. The implementation of Spectrum Enterprise as part of a strategic overhaul of purchase-to-pay processes has allowed the business to move away from traditional paper-based invoicing to process 98 percent of its saleable goods invoices electronically. Spectrum forms a key part of a solution which matches suppliers' orders and integrates them into Moto's Microsoft Dynamics AX ERP system, automating invoice production to cut out costly errors and help Moto meet payment terms set with its suppliers for better working relationships.
During the project, Guy Latchem, IT Director, Moto discovered that 9 percent of suppliers accounted for 80 percent of the invoice volume, however many of these trading partners used various systems and had different levels of technical knowledge, making the onboarding of these suppliers onto the e-invoicing system potentially complex. Moto also had aggressive adoption timescales for this project and Freeway Commerce used its vast experience in onboarding to add all suppliers within the nine-month period agreed.
Spectrum Enterprise also provides Moto with the ability to exchange data with its suppliers on multiple platforms, using different data format options and transport protocols such as FTP, AS2 or via a Value Added Network (VAN). Through Spectrum, Moto can trade with organisations of all sizes, regardless of their technical capabilities, and are able to add new trading partners onto their e-invoicing system without complexity.
"With such a large number of suppliers exchanging thousands of documents each month, manually processing invoices was proving to be a drain on resources and also leading to data errors and potentially delayed payments to trading partners which is unacceptable," said Latchem. "Working with Freeway Commerce, we were able to use EDI to deliver e-invoicing to virtually all of our supplier base, automating the process which has cut out the costly mistakes associated with manual input, as well as streamlining the purchase-to-pay process. This improves the speed and efficiency of the payment cycle, driving down the costs of managing invoicing and most importantly keeping suppliers happy."
"Paper-based invoicing remains a major challenge for both retailers and suppliers, due to the level of manual input it requires, problems with data accuracy and issues around matching invoices at both ends of the payment cycle," said Paul Kaye, Business Development Director, Freeway Commerce. "Spectrum Enterprise provides businesses of all sizes with EDI technology that can automate manual processes, such as invoicing, allowing organisations including Moto to drive down costs and improve the overall efficiency of their trading platforms."
To learn more about EDI and its potential benefits, please visit: http://www.freewaycommerce.co.uk/benefits_of_edi.html |
