Client: World’s Largest Restaurant Company
Company Size: $11.3B in Annual Revenues
The world’s largest restaurant company had dramatically reduced expenses and begun to capture discounts when they implemented an electronic invoicing solution from one of iPayables competitors. However, when that provider was unable to meet specific needs of the company and then started charging suppliers, the company knew they needed to migrate to a better solution.
The transition to iPayables InvoiceWorks was smooth and easier than anticipated. With improved workflow functionality over the previous system, approval times have been reduced and benefits from dynamic discounting have increased. Supplier relations are strong and the company describes being able to continue to offer the solution to suppliers free of charge as ‘crisis averted’.
With a lower cost than the previous solution, expanded functionality, and the all-inclusive supplier services offered by iPayables, the company is on track to capture an additional $3M in additional savings beyond the previous solution’s savings over the next three years. Goal: Migrate to a “No Supplier Fees” solution, increase supplier participation
Results: Smooth transition to iPayables InvoiceWorks (with no supplier fees), additional $3M savings from lower cost and increased supplier participation.
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