A Leading Healthcare Equipment Company Goes Full Throttle with E-invoicing system
$2.3 BN Annual Turnover
1 goal: Customer Excellence
Manual invoice processing can be a pricey affair for enterprises struggling to manage thousands of invoices from 150 countries. So, when they wanted to automate their slow, latent invoicing, ensure best-of-the-breed functioning of the entire billing cycle, and recognize payments faster, we knew that the resulting solution will be integral to the client’s core business.
The implications of a lousy invoicing service can be as serious as interrupted cash flow and credit losses. Our client had run into these operational hazards due to a non-automated system of invoice generation, which resulted in delayed and delinquent payments. This cumulatively led to distressed balance sheets and hampered customer service.
The challenge of delayed billing was aggravated by non-compliance with standard invoice protocols. The existing invoicing process was tedious, complex, and prone to discrepancies, which impacted our client’s reputation in the crucial B2B market and made them appear difficult to have business with.
The client’s existing integration solution on webMethods 8.2 was reaching the end of support, which means they were not able to get any further enterprise support from the product vendor unless they upgraded to the latest version or paid additional bucks for extended support of the existing version.
Our client is a leading provider of world-class diagnostics, discovery, and analytical solutions to over 150 countries worldwide. With 3,500 patents to their credit, over 8000 labs across the globe, and an impressive line-up of advanced detection solutions, the company manifests an unbridled commitment to innovation and zeal to transform the healthcare sector. The client’s innovative detection, imaging, informatics, and service capabilities combined with deep market knowledge and expertise, helped customers gain more accurate insights early in the process.
We began with understanding the business logic of our client’s invoice documents and built an automation strategy. Based on the automation strategy, an electronic invoicing solution was created and deployed, taking reins from the existing manual system. This was helpful in accelerating invoice generation and ensuring faster payments, which eventually stabilized cash flow and reduced administrative overheads. Automation also minimized discrepancies because the new solution was capable of generating error-free invoices from data—all by itself.
We created a comprehensive mapping specification document based on the industry B2B standard—OIOUBL—that translated the invoices from SAP INVOICE02 format. Additionally, we created mapping services and deployed them methodically to transform data into the new format.
The team was involved in delivering a future-ready solution by upgrading integration solution based on Software AG’s webMethods suite. This was instrumental in reinstating end-to-end IT synchronization, enhancing visibility across all quarters, and ensuring consistent throughput.
- Unlocked speed and flexibility for invoice generation
- Improved invoicing quality through industry compliance
- Ensured seamless integration across the IT landscape
- Increased trust and enhanced customer experience
- Reduced cost of ownership
- Eliminated delays in payment cycles
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