a proactive approach to supplier onboarding
TRANSCRIPT
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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?
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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
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The Current State of Supplier Adoption
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
The Current State of Supplier Adoption
Source: PayStream Advisors 2014 Supplier Network Management| Q4 2014 | All rights reserved.
Business-to-Business Solutions Currently in Use
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The Current State of Supplier Adoption
Source: PayStream Advisors 2014 eInvoicing Benchmark Report | Q3 2014 | All rights reserved.
Invoices Paid Electronically
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The Current State of Supplier Adoption
Source: PayStream Advisors 2014 eInvoicing Benchmark Report | Q3 2014 | All rights reserved.
POs Sent By Companies
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The Current State of Supplier Adoption
Source: PayStream Advisors 2014 eInvoicing Benchmark Report | Q3 2014 | All rights reserved.
Suppliers Sending eInvoices
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Poll Question #2
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Proactive Supplier Onboarding
Proactive Supplier Onboarding
Source: PayStream Advisors 2014 Supplier Network Management| Q4 2014 | All rights reserved.
Supplier Network Management Universe
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Proactive Supplier Onboarding
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.
Source: PayStream Advisors AP & Working Capital Report | Q2 2014 | All rights reserved.
Best Practices
Proactive Supplier Onboarding
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.
Source: PayStream Advisors AP & Working Capital Report | Q2 2014 | All rights reserved.
Best Practices
Proactive Supplier Onboarding
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?
Source: PayStream Advisors AP & Working Capital Report | Q2 2014 | All rights reserved.
Selecting a SNM solution
Proactive Supplier Onboarding
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?
Selecting a SNM solution
Proactive Supplier Onboarding
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?
Selecting a SNM solution
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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
Sending PDF invoices as email attachments
Sending PDF invoices as email attachments
From scanned paper invoices
From scanned paper invoices
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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
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Thank You