Although we have more suppliers to enroll into the program and additional areas where we will gain greater efficiencies, the return on investment so far has proven to be well worth it.
Atlanta, GA (PRWEB) July 21, 2009
OB10, the leading global e-Invoicing network and Memorial Hermann, the largest hospital system in Texas, recently joined forces to host an audio conference titled Learn How AP and Supply Chain Management at Memorial Hermann Healthcare System Collaborated on an e-Invoicing Project to Optimize AP and Increase P-Card Spend. Participants on the call discovered how e-Invoicing streamlines AP processes; supports Supply Chain Management objectives of reducing exceptions and ensuring greater visibility; and how the right solution can optimize payment terms and drive efficient P-Card spend.
"With over 500,000 invoice or payment documents annually, over 12,000 contracts to manage and over 2 million touch points all operating within our accounts payable and supply chain, we saw multiple opportunities to streamline our operation and reduce costs," said Donald Sands, Director System Accounts Payable - Memorial Hermann Healthcare System. "We looked at several possible solutions designed to help us reach our objectives, including a best of breed approach and an all-in-one approach. After careful consideration, we selected OB10's best of breed approach because of their singular focus on the invoice data capture component as well as their extensive experience in working with large, complex organizations like ours."
Memorial Hermann was also attracted to OB10's compatibility with the hospital system's current IT system, its success in working with a number of large organizations including the U.S. Department of Veterans Affairs and its ability to work with multiple legacy systems. OB10's successful track record of quickly enrolling large numbers of suppliers and the opportunity to work with other suppliers already in the OB10 network factored into Memorial Hermann's decision.
"Large organizations processing hundreds of thousands of supplier invoices per annum should consider supplier e-Invoicing as part of a cost optimization program," stated Nigel Rayner in his March 24, 2009 Gartner report titled Use Supplier E-Inoicing to Help Optimize Operating Costs. "Supplier e-Invoicing networks offer a range of potential benefits, including improvements in AP processes by reducing invoice processing time and minimizing manual intervention, thus leading to a reduction in operating expenses."
Daron Whisman, Director of Finance Supply Chain - Memorial Hermann Healthcare System, believes, "…many healthcare organizations have a fondness for paper and are reluctant to move away from it because of the comfort they feel with touching a live document. But the opportunity OB10 offered in terms of electronic invoice delivery, as well as its fluid integration with workflow, imaging and electronic payment solutions, allowed Memorial Hermann to become a much more cost-effective provider of healthcare services."
"Because OB10 offers compatibility with any organization's workflow system, we were able to configure a solution specifically tailored for Memorial Hermann that now allows them to track, document and measure internal and external invoice activity," said Thayer Stewart, Vice President, Marketing and Business Development - OB10. "That capability is what allows us to bring value and clarity to customers that have large, complex accounts payable processing systems. We facilitate simplicity and efficiency, allowing supply chain management to configure the best solution designed to reduce costs and bring greater visibility to Accounts Payable processes."
In addition to brining OB10 into the mix, Memorial Hermann determined that open communication and collaboration between Accounts Payable and Supply Chain Management teams was essential. OB10's involvement facilitated the refinement of a number of processes between these departments to ensure transparency and greater efficiency throughout the entire procurement-to-pay (P2P) cycle.
With OB10's e-Invoicing solution in place, Memorial Hermann was able to better target their indirect spending toward a P-Card program. The program has proven to be a vital tool in eliminating check requests and the process of having to add new vendors in some cases. In addition, the data received back from the merchant bank offers more detail and greater insight into Memorial Hermann's spend patterns.
"OB10's e-Invoicing solution and our more targeted P-Card program fit very well within our revised P2P process," said Sands. "Although we have more suppliers to enroll into the program and additional areas where we will gain greater efficiencies, the return on investment so far has proven to be well worth it."
To listen to the entire audio conference, including the Q&A session, go to the OB10 Web site and choose the link - Learn How AP and Supply Chain Management at Memorial Hermann Healthcare System Collaborated on an e-Invoicing Project to Optimize AP and Increase P-Card Spend: http://ob10.com/Country/US/Webinars_2
OB10 (http://www.OB10.com) is the leading global B2B e-Invoicing network. OB10 simplifies and streamlines the complex invoice-to-pay processes. Neither client organizations nor their suppliers are required to implement any hardware or software, and OB10 is independent of data file formats. OB10 can reduce the cost of paper invoice processing by typically 60 percent and can deliver an ROI in less than a year if the program follows OB10's best practice guidelines. Operational across Europe, North America and Asia, OB10 is compliant with the requirements of VAT, tax and e-Invoicing legislation and receives invoices from suppliers in over 100 countries. To ensure unrivalled and rapid supplier enrollment, each new customer's suppliers are supported by an implementation services team responsible for getting them up and running on the OB10 network.
Customers include: Agilent Technologies, Apple®, BP, Barclays, Cargill, DHL, DSG International, Eli Lilly & Company, Fisher Scientific, General Motors, GlaxoSmithKline, Hewlett Packard, IBM, Kellogg's, Kraft, Logica, Lufthansa, Mohawk Industries, Motorola, Norwich Union, Pfizer, SaraLee, Schneider Electric, Shaw Industries, Steria, US Federal Government, VWR and Xerox.