Control your maverick spend with Invenio’s SAP Procure-to-Pay Solution

Join Invenio Business Solutions at eWorld Procurement & Supply to understand how to increase visibility across spend

UK, 25th February 2016 – Gaining greater visibility across spend will be a hot topic at the upcoming eWorld Procurement & Supply event, on 2nd March at the Queen Elizabeth II Centre in London. Join Invenio Business Solutions at 12.45pm in the Albert Room, Level 2, to hear from Kedar Patwardhan, Account Director, on how you can control your maverick spend with Invenio’s SAP Procure-to-Pay Solution.

In today’s world, organisations need to empower employees to make important purchasing decisions; however, it cannot be at the cost of internal controls. While SAP is a great tool for internal controls, some organisations find it inflexible and too cumbersome to use. During his speaker slot, Kedar will provide tips on how you could find the right balance to utilise the strength of SAP in a very flexible, user-friendly tool.

During the session, you can expect to:

  • Learn how a large media company has successfully implemented a single procure-to-pay solution across the globe
  • Learn how you can control your maverick spend and increase complete visibility across the process
  • How to get your buyers to ‘love SAP’ with a multi-platform, user-friendly Procurement solution

To find out more, please contact Kofo Are, Head of Marketing, Invenio Business Solutions (kofo.are@invenio-solutions.com).

 

About Invenio

Invenio Business Solutions, is an award-winning SAP Gold Partner, with over 430 employees, located across Europe, Asia-Pacific, USA and Africa. We offer innovative SAP solutions and services within large and medium size enterprises. Invenio offers an essential budgeting, workflow and procurement portal solution for enterprises. We deliver SAP; implementation, upgrade, analytics, Hybris marketing solutions and Prometheus, the P2P procurement platform. In conjunction with support services, that include; SAP application management, offshore French language support and SAP Partner Centre to customers across 5 continents. We count blue chip, organisations such as Universal Music, Penguin Random House, Informa, News UK, and AMCo as some of our customers.

To find out more, visit: http://www.invenio-solutions.com/invenios-p2p-solution/

Media Contact

Kofo Are, Head of Marketing

+44 7833445335

125, Wharfedale Road, IQ Winnersh

Reading.

RG41 5RB

kofo.are@invenio-solutions.com

 

Complex SAP Procure to Pay System? It Shouldn’t Be.

Remove the headache by changing your technology.

Many organisations, global and national, are facing challenges within their external spend management and as a growing focus is put on procure-to-pay, companies are struggling to figure out how they can use SAP to benefit their procure to pay process.Prometheus

This is where our tailor made, SAP Procure to Pay solution comes in. Our unique system is built specifically to sit on top of SAP, there is nothing else on the market similar.

The easy to use web portal gives your suppliers the freedom to manage multiple aspects of your trading relationship – from new supplier registration, to delivering quotations and proposals, querying work orders, and submitting invoices. With suppliers accountable for these aspects, the administrative burdens previously borne by project teams, procurement executives and accounts payable are substantially reduced.

Simply moving to this supplier-centric model means you realise very significant administration savings.

Invenio will be hosting an event to demonstrate this technology and give attendees the opportunity to exchange ideas and make invaluable professional contacts with your business and technology counterparts at other companies.

Come along and find out how you can make some simple changes:

o    Suppliers will help ease your workload

o    Streamlined your project admin

o    Implement a flawless payment processes

o    Access global capabilities at a localised level

The Event Details:

Event Date: Thursday, 21st May

Time: 9:30 – 12:30 GMT

Event Address:Invenio HQ (Winnersh, Reading)

Who: Senior Executives in Finance, HR, IT, Procurement, Business Managers and other professionals who are responsible for: – Internal cost reduction, make financial management easier, improve existing processes, & rebalance the division of labor between people and suppliers.

 

 

Top 3 Challenges Facing Finance and Procurement

We see, more than ever before, organisations are putting the finance function under pressure to drive savings. Savings, savings and more savings! Finance professionals need to find new ways to have a better level of visibility and control.

Do any of these sound familiar to you?

1. Your administrative costs are running high and time is wasted on non-value adding activities?

2. You would like to have clear visibility and tight control on your spend compared to the approved budgets?

3. Do you wish finance and accounts worked seamlessly with procurement to avoid money getting lost and unaccounted for?

If the top 3 challenges above are something you are facing – some of these technical challenges could be apparent also:

  • An inability to on-board suppliers (in large numbers).
  • An inability to integrate with existing ERP and procurement systems.
  • Complex and unintuitive user interface.

Being aware of these challenges can help companies greatly increase cost efficiency. Invenio’s P2P Solution can deliver real benefits right across an organisation – from massively reduced costs, to increased process efficiency and greater insight into global spend.

The journey to unlocking cost efficiencies.

This can begin by enabling your suppliers to proactively manage their relationship with your company. For example, by using Invenio’s P2P solution it can give suppliers the freedom to manage multiple aspects of the trading relationship – from new supplier registration, to delivering quotations and proposals, querying work orders and submitting invoices. As suppliers are the ones accountable for these aspects, the administrative burdens are substantially reduced.

The power of a supplier self-service model.

Simply moving to this supplier-centric model means you realise very significant administration savings. With just a few clicks, internal teams can manage multi-level project budgets, approve new suppliers, review quotations – and convert them to purchase orders. And, once the goods or services are delivered, supplier-generated invoices are automatically matched to the original purchase order for acceptance and approval (or rejection) by authorised individuals. Payment processing is quick and easy too – offering a variety of electronic or traditional payment channels. And, because the entire process is governed by a flexible, highly-configurable workflow, every step is secure, automated and assigned to an audit trail. Because Invenio’s P2P solution uses SAP as its underlying technology, it becomes an integral part of your SAP corporate system – making financial management easier and business analysis more meaningful.

 

Pushed to Save Money AND Outrun Your Competitors? “Not Possible” You Say? Well, We Think Differently.

Many organisations are piling the pressure onto their finance and procurement departments to drive down costs and make savings. But there is a fine line with ‘Quality over Price’. Companies want to drive down costs but still maintain a competitive advantage without compromising on quality. There is also added pressures to drive efficiency, and deliver ‘more with less’. In the business world, technology keeps raising its head again and again when transformations are taking place.

However, technology alone doesn’t drive down costs, collaborating with your internal and external stakeholders is key and the technology should underpin this to make the operation seamless.  Technology providers should now be shifting their approach from the current ‘technology solutions’ to a ‘business focussed solutions’

Most procurement functions made unprecedented savings during the economic downturn and they are now being asked to not only uphold but magnify those outcomes going forward. Accomplishing this means leveraging lessons learned, which in turn requires visibility into spending and the ability to employ stringent compliance measures usually world-wide. There are certain goals when growing an organisation and why a global, seamless, procure to pay system is vital to an organisations success.

Using a procure to pay portal which allows your suppliers to proactively manage multiple aspects of your trading relationship, including new supplier registration, quotations, proposals, work orders and invoices removes a lot of the burden from internal teams. It can also support:

••Globalisation – As companies globalise, so do their supply bases. New relationships introduce more complexities into the procurement functions. Embracing globalisation while mitigating potential risks calls for strong supplier collaboration and performance management, along with new levels of supply base intelligence.

••Mobility – Most functions including procurement is no longer a 9-to-5 operation. It is a 24×7 discipline that requires informed, just-in-time decision making. What was once a function readily managed at the desktop now requires new functionality to empower an agile and mobile procurement team that can respond to the immediate needs of the business.

••Efficiency – The effort to optimise processes and push them out to the suppliers grows. Having systems that embed best practices while supporting easy-to-use procurement technology is imperative.

Whether you’re seeking immediate savings to help your organisation or looking for core procurement principles to set the pace for long-term gains, procure-to-pay optimisation can help you achieve your goals.

Invenio’s P2P Solution does just that and can help companies using SAP to dramatically cut costs in non-revenue generating purchasing activities helping you get a step ahead of your competitors. The unique IP in Invenio Procure to Pay (P2P) portal for is example of latest innovation for driving real results for customers.

If you are interested in hearing more you can register for our webinar here

If it’s Not Simple, it is Not the Right Solution

Invenio at eWorld London, 2014

It goes without saying, it has been a tough few years for the procurement and finance departments. Especially during the recession. The focus within organisations turned towards the finance and procurement departments to significantly reduce costs within all areas of the business. We have said this before, ‘Time is money’ and nothing could be truer than in the procurement and finance functions. It still remains in many organisations that processes and systems are very manual, this can be a huge problem. It can mean time delays, manual input errors and frustrations for those involved. We still see these challenges in the adoption of an eProcurement solutions within organisations today:

  • An inability to integrate with existing ERP and Procurement systems
  • Complex and unintuitive user interface
  • An inability to on-board suppliers (in large numbers)

On a positive note, we can now see that suppliers are more flexible and willing to work alongside organisations to help them achieve their goals. This opens up a new collaborated working environment which can save organisations time and money. This is where Invenio’s P2P tool comes in. It can reduce manpower time from 80% to just 20%, how does it do this? By swapping the work load onto the suppliers.

Here is an example of a typical scenario:

supplier2

Now flipped over to your suppliers:

SAP_Supplier

Account Director, Kedar Patwardhan and Program Manager, Jayawant Patil recently spoke at the eWorld Purchasing and Supply Conference. Both Kedar and Jayawant have a wealth of experience in the procurement sector. Kedar gave the delegates an insight into the reasons why SAP users have avoided a new procurement solution and how Invenio’s P2P solution can overcome these.

  • It’s too much work:  Vendor self-service, moving the admin load to the suppliers.
  • I hate these SAP screens: User friendly and mobile application with minimum data entry fields and clicks.
  • Can I spend the money I don’t have?  No, it is tightly integrated with the budgeting process, it can stop commitment and invoice posting if there is no approved budget.
  • But I didn’t approve this: Easy to understand and easy to manage workflows with set approval levels and audit trails are in place, so that no document can be posted without prior approval.
  • Am I choosing the right solution? Significantly cheaper than other solutions and fully integrated into your existing SAP solution.

Thanks to Kedar and Jayawant, for hosting such an informative session! If you missed the session on the day, or did not attend the event and would be interested in viewing the presentation, you can register for our webinar here. 

After the success of Kedar’s eWorld presentation, he has been asked back to present again at the eWorld Procurement Summit in November. The event is free and you can register to attend here

 

 

Less than 24 hours to go until Invenio P2P Solution for SAP Users

Winston-Churchill

With less than 24 hours to go, the team here are excited and all geared up to welcome our guests Tomorrow (22nd May) at the Churchill War Rooms, London. The Invenio’s P2P Solutions Procure to Pay event for SAP users is the 2nd in our 2014 series of in-person events, the first being SAP HANA back in March.

We love to get out of the office, to meet with our customers and really understand the ‘pain points’ they are experiencing right now, we give them the opportunity to meet existing customers face-to-face and find common ground. We like to be open and honest in all that we do and we like to call this our Invenio Difference, you only need to speak to our customers at an event to see their experience of this.

Invenio’s P2P Solutions is Invenio’s Procure to Pay portal for SAP users looking to dramatically reduce expenditure on non-stock procurement. Invenio’s P2P Solutions’ aim is simple – to reduce the cost of purchasing by at least 50%.

The day aims to be interactive and hands-on, with a short demonstration video and presentations from Universal Music who are already using Invenio’s P2P Solutions.

We aim to help you walk away with an invaluable education – whether you are considering optimising the procure-to-pay processes, evaluating your internal spend accountability, looking for stronger budgetary control, increasing PO Compliance, or looking for fast approval cycles – then this is the event for you.

I’m sure you would agree, that looking to cut the admin load of your organisation from 80% to just 20% is worthy of consideration . So please do join us tomorrow to see how transferring your P2P administration to your suppliers could help you.

We welcome last minute bookings, so please do get in touch to attend or ask us more! For those already registered, we look forward to welcoming you tomorrow!

Invenio P2P Solution Event for SAP Users, 22 May, London

We invite you to be part of our very own, not to be missed P2P event for SAP customers, introducing Invenio’s P2P Solutions on May 22, Churchill War Rooms

 

Procurement businesses globally are moving to a ‘self-service’ model. This model is about transferring the onus of managing the procurement relationship to the supplier.

Join senior business executives from both the Public and Private Sector, with responsibility for implementing web-enabled P2P strategies. These professionals are also responsible for internal cost reduction, making financial management easier, improving existing processes, & rebalancing the division of labour between internal staff and suppliers.

Learn to:

  • Reduce costs
  • Improved data accuracy
  • Better compliance
  • Improved supplier – customer relationship

Recognising this trend, for a ‘self-service’ model, Invenio – an SAP Gold Partner – has developed Invenio’s P2P Solutions, a procure-to-pay framework that can reduce the administrative overhead of a procurement organisation by up to 60%.

Invenio’s P2P Solutions has recently been implemented at the Universal Music Group – the world’s largest music company – across its offices globally spanning over 100,000 users.

Key people from Invenio and Universal Music will be talking about Invenio’s P2P Solutions – origin, evolution and benefits. There will also be an interactive Q&A discussion where you will be able to ask questions – technical and business related – and get answers from the experts.

Register Now! This event is not to be missed, see the full programme here, take a look at this action packed event.
Do you know of others who would be interested in such an informative and interactive event? Don’t hesitate to pass this on.

Let’s keep up to date and make progress and cost savings happen! We look forward to welcoming you in London on 22 May.

Warm regards,

Christine Cockerton
Marketing Manager

Sapphire Now and ASUG Annual Conference 3-5 June, Orlando, Florida

We invite you to be part of our group at Sapphire Now and ASUG Annual Conference in Orlando, Florida from 3 – 5 June 2014, stand 1807.

Picture11

 

Get the latest technological vision, actionable insights you need to drive profitability and growth, and influence future SAP offerings at this 3 day action packed event.

Join senior executives, line of business and IT decision makers and business managers from across all process, technology, and industry areas.

  • Meet current business challenges and gain efficiencies
  • Learn from others who have integrated the same SAP solutions
  • Get the most out of your SAP investment
  • Make connections
  • See technology in action
  • Gain a rapid and significant return on investment
  • Enable future growth strategies and maintain a competitive
  • Shape the future of SAP solutions and services
  • Experience faster software implementation without disruption

This event is not to be missed so register now! the full programme can be seen here, take a look at this action packed event.

Do you know of others who would be interested in such a fast paced and interactive event? Don’t hesitate to pass this on.

Let’s keep up to date and make progress and cost savings happen! We look forward to welcoming you in Orlando from the 3-5 June.

Warm regards,

Christine Cockerton
Marketing Manager

Automation of the Procure to Pay function, is this the “Holy Grail” everyone is after?

ThumbsupspeachA colleague says “So, as the finance director you oversee purchasing and spend decisions?” Your response is likely to be “Yes, you’re right I am responsible for spend decisions and would like to see as little operating cost as possible.”

So what is Procurement?

“Procurement means the whole process of acquisition from third parties (including logistical aspects) and covers goods, services and construction projects”– Crown Commercial Service (Government)

‘Procurement’ covers all activities that involve buying, contracting, purchasing, sourcing or tendering; it incorporates lots of divisions and lots of personnel. Procurement could, account for up to around 50% of the costs to an organisation, so no pressure at all to try and reduce the spend!

By seeing the procure-to-pay process in its entirety, buying and paying for goods and services, to the request for the product by the operations staff, to the issuance of the purchase order, receipt of the goods, and finally payment of the invoice. You can see quite how much this involves, a lot of which is manually operated.

P2P Focus

Over the past few years there has been more focus on procure-to-pay, with a marked increase in conferences, seminars and also organisations wanting to specialise in improvements in P2P. The focus now is on procurement and with it accounting for so much of your business, it’s about time. So what are the problems of procurement?

Manual Rules the Roost

‘Time is money’ and nothing could be truer than this in procurement. Currently a lot of the processes and systems are still very manual, this can be a big problem, it can mean time delays, manual input errors and frustrations for those involved. Here are some key things that come up time and time again in procurement as needed for improvement, here we will address a number of these.

  • Reduce admin
  • Improve efficiencies
  • Having a clear insight
  • System integration problems – that is when you find a solution!
Reduce Admin

As an organisation you currently have very manual processes, with lots of data input. Wouldn’t you like to change that? With a few alterations, you really can re-engineer the division of labour. I’m sure currently internally you are:

  • Looking at info
  • Registering suppliers
  • Processing / approving quotes
  • Checking budget availability
  • Raising PO’s
  • Chasing sign-off
  • Checking goods receipts
  • PO Matching
  • Processing invoices
  • Approving payments

And what are the suppliers doing?

  • Submitting quotations
  • Sending invoices

This is typical scenario with your employees doing 80% of the admin load and suppliers doing 20%, it’s about time the tables were turned.

So here’s how it works

With a P2P system such as Invenio’s P2P Solutions, you can have the following benefits:

Reducing your admin – Suppliers register and manage their own master data and submit quotes and invoices.

Improving your efficiencies – ‘One click approvals turning quotes to purchase orders’, fully automated workflows for multi-level spend authorisation, in-built security, budget allocation and approval processes to make it easy, fast and efficient.

Giving you clear insight – Manage budgets and authorisations on one global platform. For ready visibility across all cost-centres, projects, budgets and geographical locations.

Eradicating integration and consolidation headaches – Purchasing information sits inside SAP and so it’s always ready, always up to date and becomes a part of your existing investment in SAP.

All of this results in the ultimate goal of the division of labour being reversed. Some processes are totally automated and will flow through the system without the need for any manual handling, resulting in speedier processes and less laborious tasks. You really can now have your employees approving quotes and approving payments, all whilst the supplier is now:

  • Registering and doing data maintenance
  • Uploading quotes
  • Notifying goods and services delivery
  • Raising invoices

As the financial director, wouldn’t you like to say “well yes, that slick operation is mine, we have created a system to reduce costs and to make procurement processes more streamlined and automated”. The overall result being a reduction of costs for the whole procurement team.

To find out more about how Invenio’s P2P Solutions P2P can help you to become automated, please do get in touch.

Invenio P2P Solution is aiming to reduce the cost of purchasing by 50%

P2PEVENTInvenio’s P2P Solutions helps companies using SAP to dramatically reduce expenditure on non-stock procurement. Although the premise is simple, the goal is compelling: to reduce the cost of purchasing by at least 50%.

Invenio’s P2P Solutions ImageThe journey to unlocking these effciencies begins by enabling your suppliers to proactively manage their relationship with your company. Invenio’s P2P Solutions’ easy to use web portal gives your suppliers the freedom to manage multiple aspects of your trading relationship – from new supplier registration, to delivering quotations and proposals, querying work orders, and submitting invoices. With suppliers accountable for these aspects, the administrative burdens previously borne by project teams, procurement executives and accounts payable are substantially reduced.

Simply moving to this supplier-centric model means you realise very signicant administration savings. But Invenio’s P2P Solutions goes much further. With just a few clicks, internal teams can manage multi-level project budgets, approve new suppliers, review quotations – and convert them to purchase orders. And, once the goods or services are delivered, supplier-generated invoices
are automatically matched to the original purchase order for acceptance and approval (or rejection) by authorised individuals.

Payment processing is quick and easy too – offering a variety of electronic or traditional payment channels. And, because the entire process is governed by a flexible, highly-congurable workflow, every step is secure, automated, and assigned to an audit trail.

Finally, because Invenio’s P2P Solutions uses SAP as its underlying technology, it becomes an integral part of your SAP corporate system – making financial management easier, and business analysis more meaningful.

Five Ways to Save:

1. Internal Cost Reductions

Automation reduces multiple non-revenue generating activities – giving you the opportunity to scale back on BPO, Procurement and Accounts Payable functions. These activities include data-entry and PO matching, invoice and document scanning, manual approval and payment processes – all of which can be reduced by up to 90%.

2. Supplier-centric Process Ownership

A simple, one-stop solution offers you a way to decentralise supplier relationship management. Hidden costs that include burdensome data-entry, training and day-to-day management of trading activities are signicantly reduced.

3. Increased Data Reliability

Because Invenio’s P2P Solutions is authored using SAP technology, any changes made to your core SAP system are automatically reflected. This eradicates any versioning, enhancement pack or integration issues that arise from using third-party procurement solutions. And, by eliminating the need for these third-party solutions, all system integration, manual data-entry, cross-checking and reconciliation headaches are removed. The result is faster access to accurate information, and reliable reporting for better decision-making.

4. Strong Governance and Compliance

Sophisticated workows automatically enforce overarching group purchasing strategies and will also accommodate highly prescriptive departmental policies. A detailed, comprehensive audit trail gives you complete visibility of all user-related activity, on each step of every
purchase.

5. Streamlined Payment Processes

Automation effciencies give you the advantage of saving money through early payment discounts – and help avoid incidences of late payment penalties. This streamlining can also help reduce your expenditure on a variety of office consumables – from postage and copying costs, to maintaining sophisticated document processing hardware.

Global capabilities for a global user community

SAP’s scalability means Invenio’s P2P Solutions can accommodate thousands of internal purchasers, manage limitless projects, effect multi-level payment authorisations and, through its web-based portal, is accessible 24/7 to hundreds of thousands of suppliers worldwide. All this, combined with inbuilt multi-currency and multi-language capabilities, means a one-stop global solution that manages the entire purchasing needs of an international operation.

Because Invenio’s P2P Solutions is deployed to a distributed user community, it is designed with simplicity in mind. Offering clear, concise navigation, easy to use screens and logical process sequences, this simplicity means you can easily manage all activities with minimal training. With Invenio’s P2P Solutions securely controlling all purchasing related activities, Board Executives can manage and control 9-figure budgets, Project Owners can easily allocate funding, purchasers can transact quickly with suppliers, and the finance team can ensure the entire payment process runs smoothly, securely and on schedule.

The Invenio’s P2P Solutions premise is both simple and compelling – to cut costs in non-revenue generating purchasing activities – so that you can increase your bottom line.

For more information about Invenio’s P2P Solutions, please contact us.