Fortune 500 Utility Company Uses Taulia to Significantly Reduce Invoice SpendComprehensive Solution Delivers Massive Supplier Adoption Rate
April 11, 2012
Taulia Inc., the only SAP®-certified SaaS platform for Dynamic Discounting and e-invoicing, today announced it has enabled a large Fortune 500 utility to realize millions of dollars in annual savings through the use of its Dynamic Discounting platform. The company went live with the solution just three and a half months after contract signature, achieving Return on Investment (ROI) beyond 100% in just a few weeks. Today Taulia’s solution is on track to process close to 200,000 invoices a year for the company, 80% of which come through Taulia’s comprehensive e-invoicing platform. In less than a year, Taulia has realized a supplier adoption increase of more than 30% over the e-invoicing network previously used by the utility.
Taulia’s unique fusion of a certified SAP Add-On connecting to a cloud-based, Software-as-a-Service (SaaS) platform enabled the utility company to achieve rapid deployment with minimal impact on IT resources. The solution’s compelling value proposition for suppliers, which includes free and comprehensive e-invoicing and self-services coupled with an onboard team dedicated to walking suppliers through every step, helped the utility to quickly achieve an adoption rate of above 80%: not only did the suppliers who participated in the company’s previous program embrace Taulia’s solution within the first 5 weeks, a large number of suppliers came on board who had not participated before. As a result of the high adoption rate the utility is phasing out its own homegrown portal, initially created for those suppliers who chose not to use the previous vendor’s solution.
“Although this large utility had employed Dynamic Discounting with a portion of its PO invoice spend, they wanted to reach their entire supply base and address all invoices with one complete end-to-end solution,” said Markus Ament, Chief Product Officer at Taulia. “Taulia’s unified platform allowed the company to offer a simple, straightforward solution to every supplier on every invoice. We are proud that Taulia’s solution expanded supplier adoption. Interestingly, the utility was also able to realize greater returns than before from existing suppliers, based on those suppliers opting for larger discounts in return for receiving payment even earlier than the discount window of previously agreed terms.”
“Taulia strives to offer the most compelling value proposition in the market. Our solution is completely free for suppliers. For buyers, we provide a comprehensive platform that connects to their existing SAP system in record time and ensures immediate results with little to no upfront cost,” said Bertram Meyer, CEO of Taulia. “For this particular Fortune 500 utility our approach resulted in additional returns at a lower total cost of ownership.”
Taulia optimizes the invoicing process. With Taulia, large buying organizations can reduce their total spend and achieve double-digit returns on their cash positions, while their suppliers get paid earlier at a lower cost of capital than alternative options. Taulia’s Invoice Optimization Platform offers e-invoicing, instant vendor portals and a sophisticated dynamic enterprise payment management system. Taulia’s SAP-certified cloud based solution extends SAP financials beyond the enterprise. Customers include Coca-Cola Bottling Co. Consolidated, Pfizer, John Deere and other Fortune 500 companies from various industries. Taulia is headquartered in San Francisco, with offices in New York, London, England and Düsseldorf, Germany. For more information, visit http://www.taulia.com.