SAPPHIRE Now Recap
As an SAP Gold partner, this is one of the annual events you'll always find us at.
Our motto this year? Free ice cream and eInvoicing:
In today’s competitive business environment, every department is responsible for operating as efficiently as possible. However, this isn’t always possible within AP departments, where countless tasks, such as invoice processing, still rely on manual data entry and paper-based actions. Numerous technologies have promised to give organizations complete electronic invoicing capabilities, however, due to information discrepancies, inaccurate data, and unreadable images, all solutions fall short of this great feat – that is, until now.
Processing invoices can be costly. The suppliers billing process; sending an invoice, processing the incoming invoice on the buyer side and finally settling it, is adding additional costs to the products or services delivered. Traditionally, everyone was swallowing their part. In the electronic invoicing world it seems like most of the electronic invoicing providers understand their business as the postal service replacement, and charge suppliers for submitting an invoice to their customer. There are also operators out there charging suppliers a percentage of the invoice amount, which could be already quite expensive.
This was definitely the most fun I've had designing an infographic. Researching what one million dollars could actually buy really got my imagination and creative juices flowing; seriously, a bottle of coconut brandy costs a million dollars? More importantly though, it made Taulia's Million Dollar Guarantee seem more tangible as I was able visualize the significance of a million dollars through relating it to actual objects and experiences. And now I ask myself, who wouldn't want to add $1M to their bottom line?
While writing this blog post, I learned a lot about the inefficienies of the current process and why electronic invoicing and supplier self services are so important. For example, I was shocked that the cost of processing a paper invoice was so high ($15!) compared to the cost of eInvoicing. And I can't get over that only 12% of invoices in the U.S. offer early payment discounts; folks are missing out on saving so much money!
In a recent article in the Tech Republic, Ask Potential Cloud Vendors These 10 Security Questions, Dominic Vogel discusses the top 10 security questions to ask potential cloud vendors.
Their is an extremely high standard of security that is expected from cloud providers, so it is increasingly important to be diligent in the vendor selection process.
We had a very successful week at SAP Financials in Las Vegas. Having the opportunity to speak to hundreds of finance professionals allows us to listen to the market and hear what is truly needed to help make those people's lives a little easier.
Join us at SAP Financials booth #1024 to enter to win up to $1,000 cash and learn about Taulia's newly announced "Million Dollar Guarantee".
We have seen such phenomenal discounts for Fortune 500 customers using our dynamic discounting platform, that offering this Million Dollar Guarantee program was the next logical step. Our customers have experienced savings well beyond a million dollars in the first year, and we want to help other companies reap the benefits of dynamic discounting. That's why we're making such a bold guarantee.
Sometimes its hard to believe that there is a solution that is truly beneficial to all parties involved.
We're always talking about the buyer benefits of dynamic discounting (you save millions of dollars annually) but less commonly do we address the supplier benefits of dynamic discounting (they finally have visibility into the status of their invoices and have fast easy access to cash).