Speak to one of our experts
You have unique challenges and requirements. Arrange a call to find out how we can help automate your specific processes.
Tungsten Network is now part of the Kofax family. For more information on our full suite of services, visit kofax.com.
Schneider Electric first approached Tungsten Network in 2008. At the time, Schneider was processing 650,000 invoices at three AP locations. Paper-based invoices accounted for 90% (585,000) of all invoices received. “First and foremost, we needed to improve the invoice-to-pay process” noted Pam Carper, Manager of Disbursements, “handling such a huge volume of paper naturally led to errors.”If dealing with that amount of paper wasn’t enough of a challenge, each North American AP center utilized up to two different legacy accounting systems and multiple vendor master files.
Schneider knew that the answer was to use e-invoicing to automate their large financial processes and implement a standard solution globally. With the goals of reducing invoice processing costs, increasing the quality of invoices being received, and enabling a quick and simple process for onboarding their suppliers globally, Schneider’s e-invoicing journey found success from the very beginning.
Within the first six months, Schneider had already realized $200,000 in annual operational savings and could project $500,000 in annual operational savings when Tungsten Network was fully deployed.