Irish power utility Electricity Supply Board (ESB) has implemented cloud-based offerings from Ariba, and says that it is using them to transform its purchase order (PO) and invoice management processes into an efficient and automated process through which it can reduce errors, speed approvals and drive savings.
Shana Dillon, manager, finance operations at ESB, said the move enabled the utility to create an effective process for interacting with its suppliers across the payment cycle that would lead to greater efficiencies and savings.
ESB adds that Ariba’s technology will enable it to achieve various benefits, including:
- A move to a paperless invoice process in 100 days.
- Reducing operating costs by at least 70%.
- Simplifying and accelerating dispute resolution.
- Minimising the risk of excessive, duplicate and fraudulent payments.
- Complying with corporate and regulatory requirements and effectively benchmarking and measuring performance.
“Accounts payable teams spend inordinate amounts of time and effort processing paper invoices – from matching them with contracts and tracking purchase orders (POs) and goods receipt to correcting errors and fielding supplier inquiries,” said James Tucker, director of marketing, invoice and payment solutions at Ariba. “Yet most companies still have limited visibility into the process, leaving them exposed to risks like overlooked billing discrepancies, missed discounts, and overpayments.”
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