Download - A Proactive Approach to Supplier Onboarding

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A Proactive Approach to Supplier Onboarding

Henry Ijams, PayStream Advisors Vishal Patel, Tradeshift


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Today’s Presenters

Today’s Presenters

Henry Ijams Managing Director

PayStream Advisors

Vishal Patel Senior Marketing Manager

Tradeshift

Who is PayStream Advisors?


Research and Advisory Services for Financial Operations

o  Collections Technology o  Receivables Document Management o  Benchmarking o  Electronic Payments o  Annual Innovate Summit

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Agenda •  The Current State of Supplier

Adoption •  Proactive Supplier Onboarding •  Tradeshift Supplier Network

Management Solutions •  Supplier Onboarding Success

Stories


The Current State of Supplier Adoption


Source: PayStream Advisors AP & Working Capital Report | Q2 2014 | All rights reserved.

Primary Reasons for not Utilizing Electronic Payments

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Poll Question #1


Source: PayStream Advisors 2014 Supplier Network Management| Q4 2014 | All rights reserved.

Business-to-Business Solutions Currently in Use

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Source: PayStream Advisors 2014 eInvoicing Benchmark Report | Q3 2014 | All rights reserved.

Invoices Paid Electronically

12



POs Sent By Companies

13



Suppliers Sending eInvoices

14


Poll Question #2


Proactive Supplier Onboarding


Source: PayStream Advisors 2014 Supplier Network Management| Q4 2014 | All rights reserved.

Supplier Network Management Universe

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Ø  Offer suppliers a range of options. Offering yes or no options likely will not get you anywhere with most suppliers.

Ø  Consider what is ideal for your organization but also what is likely; try to land somewhere in the middle.


Best Practices


Ø  Effectively communicate to suppliers the benefits for their receivables with each offer.

Ø  Incentivize suppliers by offering tiered payment timelines. Offer faster payments for methods that benefit your organization and longer payments for manual or paper-based methods.


Best Practices


Ø  Does the solution integrate with your ERP or procurement system?

Ø  Is the solution free for suppliers (no membership or transaction fees)?

Ø  Does the provider help onboard your suppliers—both large and small?


Selecting a SNM solution


Ø Does the solution have a centralized portal to manage supplier profiles, certificates, diversity, and risk metrics?

Ø  Is ad-hoc and custom reporting functionality included in the solution?



Ø  Is buyer and supplier training included? Ø Does the network facilitate the transmission

and routing of purchase orders? Ø Does the solution provide electronic

invoicing?



Tradeshift

Transforming how businesses work together.

Tradeshi0 helps buyers and suppliers anywhere connect, transact and collaborate with e-‐invoicing and procure-‐to-‐pay so0ware.

Easy to use. Free for suppliers. Tradeshi0 brings you intuiCve, agile, scalable cloud so0ware. We strengthen buyer-‐supplier relaConships through the power of our network, our proven supplier onboarding methods, and our scalable plaGorm & app ecosystem.

Electronic invoicing, PO’s, Credit Notes, etc

Data Capture (Paper, PDF, Fax, Email), Onboarding

tool

Matching, ValidaCon, Approval, RouCng,

Coding, Direct CommunicaCon

Supplier RegistraCon, Onboarding, InformaCon validaCon & management

Extension of capabiliCes with customer and/or Third-‐party Apps

Early Payment SoluCons Dynamic DiscounCng & Supply Chain Finance

Buyer – Supplier Network Business Firewall, Document Transmission, Statuses,

Messages, IntegraCon, Security, API

Supplier Onboarding

The Tradeshift Way

5 unique keys to onboarding success

1. Modern marketing automation 2. “White glove” service 3. Superior supplier value

4. Consultative excellence

5. Event-based supplier onboarding

5 unique keys to onboarding success

1. MODERN MARKETING AUTOMATION

SUPPLIER

Email Campaigns

Direct Mail

Web Presence

Webinars

Display SEM

PR

Social

Example: http://de.tradeshift.com/supplier/dhl/

Tools to onboard suppliers: landing page

Tools to onboard suppliers: info on your own site

Example: http://www.sbs.nhs.uk/home/working-with-suppliers

Various product events drive supplier onboarding

Receiving Purchase Orders Sending PDF invoices as email attachments

From scanned paper invoices Supplier initiated connection request

Receiving Purchase Orders

Sending PDF invoices as email attachments

From scanned paper invoices


Supplier Onboarding Success Stories

1. World’s largest healthcare provider: 75X FASTER THAN leading competitor

•  Prior to Tradeshift, only 100 suppliers were electronically onboarded by a leading competitor over 4 years

•  Tradeshift has already onboarded 2,794 suppliers in 18 months

•  Phase one: from zero to 48% of the 3M invoices in scope •  1.4M invoices now received

electronically •  33% of the labor time in scope has been

reduced •  21 of 63 FTEs handling invoices were

redeployed •  Invoice handling increased from 4,000 to

6,000 per person, per month

2. Global logistics provider: 0% TO 48% E-INVOICES

3. World’s largest sports apparel brand: 36X faster than leading competitor

•  Prior to Tradeshift, 8% (350) of North American suppliers (4,400) were onboarded by leading competitor over 4 years

•  Tradeshift has already onboarded 94% (4,176) of the suppliers in 16 months

•  Full scope of 5,000 workflow users are already live after 7 months

•  On track for total business case savings of $30M, with additional risk avoidance savings TBD

Questions?


Contact Vishal Patel at [email protected]

for spending your time with us.


Thank You

Download - A Proactive Approach to Supplier Onboarding

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