benefits of a business network - infographic [hubwoo]

THE BUSINESS NETWORK

T H E B U S I N E S S N E T W O R K

THE BUSINESS NETWORK



© 2013 Hubwoo. All rights reserved. | www.hubwoo.com | [email protected]

BUSINESS NETWORKSEnabling You to Achieve the Pinnacle of Procure to Pay ROI

Business Networks Drive Spend Compliance

THE BUSINESS NETWORKBenefits for Buyers

€ 6% TO 12% for every $, €, £ brought under management

INCREASEspend under management with savings between ENABLE

electronic collaboration across the entire source-to-pay transaction lifecycle

DRIVEon-contract requisitioning with an intuitive catalog & search experience

FINDqualified suppliers that meet your criteria

Business Networks Drive Invoice Automation

THE BUSINESS NETWORK Benefits for Accounts Payable

MAKING IT EASIER TO

Manage

Check

Approve invoices

� Stay compliant with global legal requirements

� Ability to take early pay discounts by having approved invoices ready at the beginning of the payment terms

� Service entry sheet presentment including goods, services, and rate cards

� Eliminate manual call center activities with online dispute resolution and invoice & payment status

Taking your organization’s invoicing process beyond paperless, to accurate

INCREASEDAutomation

Efficiency savings

Returns on cash through dynamic discount management

COMPLIANCELegal compliance and digital signatures for compliance to 38 country-specific standards

ACCURACYReceive invoices accurately through conditional rules with first time match rates over 95%

95%O R M O R E

How Business Networks Make a Difference to Procurement and Accounts Payable Organizations

COST SAVINGS

Cost of a single requisition to order cyclea

$33.45NOT USING A BUSINESS NETWORK

$22.30USING A BUSINESS NETWORK

a 2012 Aberdeen on Supplier Networks

CYCLE TIME REDUCTION

Average number of days to complete a requisition to order cycleb

15.5 daysNOT USING A BUSINESS NETWORK

15.5

11.211.2 daysUSING A BUSINESS NETWORK

“Networked enterprises were

50% more likely than their peers to have increased sales, higher profit margins, gain market share, and be a market leader.”c

b 2012 Aberdeen on Supplier Networksc McKinsey on Business Technology - “The Rise of the Networked Enterprise”

Business networks have been proven to help companies in their search for more

HUBWOO CUSTOMERS USING THE BUSINESS NETWORK HAVE FOUND

$ €$65 MILLIONMORE SAVINGSI N F I V E Y E A R S

€2 MILLIONMORE UPSELLT O C U S T O M E R S

Reach the pinnacle of ROI no matter which end of the spectrum you start saving

ROI

INDIVIDUAL TECHNOLOGY SOLUTIONS

WITH A BUSINESS NETWORKNo matter where you start—AP automation or spend compliance—A Business Network allows both ends (procurement and accounts payable) to leverage the same technology platform for their procure to pay process, resulting in the greatest ultimate ROI opportunity. Business Networks maximize the percentage of catalog-based purchases, PO-based invoices and accurate invoices.

PROCUREMENT FUNCTIONLeverages technology for sourcing and buying.

COMBINED ROILeverages the same technology for the entire procure to pay process.

ACCOUNTS PAYABLELeverages technology for invoice automation.

What are the factors to consider when choosing a business network?

SIZE

The more suppliers on a business network, the wider the range of selection, the higher the chance of buyers to end up in better deals.

COST TO SUPPLIERS Business networks that charge supplier fees have a direct impact on TCO (total cost of ownership) to buyers:

CHOOSING A BUSINESS NETWORK WITH NO SUPPLIER FEES MEANS

SUPPLIERS WON’T

be passing along extra costs to you in the form of higher prices

Other PROMINENT NETWORKS in the industry charge BOTH A TAX (% of spend) AND TOLL (fixed annual fee) to your suppliers

MORE SUPPLIERSon board more quickly

THE BUSINESS NETWORK BY HUBWOO

� Over one million businesses

� No taxes or tolls on suppliers