Digital transformation coupled with e-invoicing is the new normal for Europe, both private and public sectors. Organizations are making huge investments across procurement and finance functions but why are some companies successful while others aren’t?
There are several things that separate the high performers from the laggards and IT can play a key role in managing finance’s digital transformation, while avoiding some of the common risks. In this webinar, we will cover a range of topics including:
Some of the success factors for digital transformation
Risks to avoid during the implementation e-invoicing and/or PEPPOL
Benefits that can be expected
How to select a vendor
4. OPUSCAPITA BY THE NUMBERS
Established 1984
~400 Employees
65m € Revenue 2018
3000 Customers with
users in over 100
Countries
Over 1 Million Suppliers
and 100,000,000
eTransactions
Over 40,000,000
products and services
bought & sold
Over 130 Billion € in
payments annually
5. DIGITAL OPTIMIZATION
The process of using digital
technology to improve existing
operating processes and/or
business models.
DIGITAL TRANSFORMATION
The process of exploiting the
latest digital technologies and
practices to create a new
sustainable digital business
model.
THE PATH TO BECOMING A DIGITAL BUSINESS
Gartner, Digital Business Transformation: Closing the Gap Between Ambition and Reality, Ian Cox, Kristin Moyer, 18 June 2018.
6. GLOBAL
PAYMENTS
PAYABLES
AUTOMATION
SOURCING &
SUPPLIER
ENGAGEMENT
RECEIVABLES
AUTOMATION
OPERATIONAL
PROCUREMENT
CASH
MANAGEMENT
Comprehensive
supplier information
management and
agile sourcing for
goods and services.
Improve your cash
inflows and reduce
the time spent
matching payments
to invoices.
Create a centralized
product catalog with
a modern guided
buying experience
with full mobility.
Consolidate and
optimize your in-
house bank and
liquidity
management
functions.
Enable control and
compliance over AP while
dramatically lowering
transactional costs.
Connect directly to over
200 banks, SWIFT certified
for global payment
coverage.
OpusCapita is a platform
that combines source-to-
pay & cash management,
enabling full source-to-cash
process optimization.
HOW WE SUPPORT YOU
CONNECT, TRANSACT
AND GROW ON THE
OPUSCAPITA BUSINESS
NETWORK
8. Confidentiality
The Purchase-to-Pay and Order-to-Cash landscape
PURCHASING
ORDER MANAGEMENT
LOGISTICS/RECEIVING
LOGISTICS/SHIPPING
FINANCE/AP
FINANCE/AR
Create/
Send PO
Ordering from Suppliers
Receive
shipping
info
Proof of
delivery
Receiving goods Paying goods
Catalo
g
Receiving order from Buyer
Receive PO
and create
Sales Order
PIM/SELLING
Create
Catalogs
Manage PIM data
ERP/eProc/
Requisition
Send Order
response
Order
Process /
order
response
Ordrsp
Process
Invoice
Create
Payment
BUYER
SUPPLIER
Delivery of
goods to
Buyer
Process
proof of
delivery
Send
Invoice
Receive
payment
Desadv Invoice
Delivering goods to Buyer Receiving payment
Recadv
BUYING
Select goods
ORDERTOCASHPURCHASETOPAY
9. Confidentiality
E-invoice is a general term,
main technologies and definitions explained
• Two main formats:
– Structured (EDI, XML, UBL) → Real e-invoice that
creates most impact and value
– Unstructured (Text, PDF, JPEG, TIFF, HTML or
email) → “copy” of paper invoice, low value
• A variety of E-invoicing solutions exists:
– EDI - electronic data interchange (point-to-point)
– E-invoice Networked Model
– Presentation within internet banking
– Web-portals
• Major E-invoice providers:
– Pure E-invoice providers, Business SW providers,
IT integrators, Banks
11. Confidentiality
Business Networks and interoperability
Open Network Model
• Open access for all companies;
buyers, suppliers and partners
Any to any connectivity
• All standards and messaging types
supported
Actively developed
• Member on EESPA, CEF and
PEPPOL communities
Multiple different Networks
12. Invoice compliance aspects
Regulatory aspects (sending and receiving)
• Compliance to ensure long-term evidence of integrity, authenticity
of the invoice. Common rule in EU allowing tax auditors to verify
the ‘original’ of an invoice against a booking. In EU accepted
methods are comprehensive audit trails, digital signature and EDI.
I&A is also relevant in most other countries.
• Content compliance. Set of information that needs to be present
on the invoice. There is minimum set of fields that must be present
according to EU VAT directive. Some countries have different
additional requirements, especially non-tax e.g. commercial law.
• Clearance compliance. Mandatory submission of invoices in
different process stages to a tax authority platform (widespread in
Latin America, but also in EU e.g. Italy). Similarities but no
common regulation.
• Archiving compliance. Rules how to archive invoice documents –
for example how long, accessibility of the archive, ensuring the
authenticity and non-changeability of the invoice.
• In most of the countries buyer’s consent is needed for e-Invoicing.
Other aspects (sending and receiving)
Technical compliance
• Format compliance – Sometimes invoice format is defined by
the environment (either by what format you should exchange in
particular country (EHF in Norway) or what format should be
used communicating to public sector in particular country.
Format definition is usually about validation rules defined in
artefacts. New EN has standardised 2 XML syntaxes.
• Infrastructure compliance – usually different country public
sectors define the infrastructure for sending invoices to a public
administration (central hub, Peppol etc)
Partner compliance
• Partner Business rules - business parties have their
requirements for exchange of the invoice or what information
should be available in the invoice.
• Anti fraud compliance – In some countries trading party has the
obligation to regularly validate another trading party against
certain registries.
Internal compliance
• Validations, different business driven controls – organisation
internal compliance rules
13. Main drivers on Cross-border Invoicing
• Legal compliancy management in different countries
– Invoice content requirements
– Archiving rules
– Tax authority compliancy
• Technical management
– Formats & standards
– Layout requirements
– Infrastructure
• Internal Infra management
– IT system landscape
– Interfaces
– Content requirements
15. Confidentiality
Internal resistance
Supplier resistance
Integration
Easy-to-use
Cost of system
Communication
32%
28%
45%
38%
35%
35%
Supplier
70 %
Buyer
30 %
Easy-to-Use
Not enough resources
Understanding why
Easy-to-Use
Free of Charge
Ensure that you know what it takes to succeed!
Source: Result of studies done by Aberdeen, Ardent Partners, Hackett Group, PayStream
Advisors on “the barriers to eInvoice adaption 2015-2016”.
Value add
16. OpusCapita - The Network of Networks
• Compliant E-invoicing in
more than 55 countries
• Open network model:
open access for all
companies; buyers,
suppliers, and partners
• Over 200 operators
connected to our Network
• All standards and
messaging types
supported
17. Proactive supplier onboarding driving results
Analyze to prioritize
• Identify suitable suppliers to
participate the program
• Segment them into waves
• Improvement and qualification
of the supplier data
Train for results
• Training and promoting suppliers
to use the chosen Connectivity
Tool
• Use of on-demand videos,
webcast and embedded
information channels
Register members
• Supplier Onboarding platform
used for fluid onboarding
• Dashboard for real-time
progress tracking
• Supporting the campaign
members
Market for coverage
• Targeted multichannel marketing
campaign; e.g. web, letters, SMS and
phone calls
• Addressing content; e.g. case studies and
webinars
• Follow-up on KPIs and eRatio
development
19. LONGER LEAD TIMES AND
DELAYED PAYMENTS
INCREASED COST –
HANDLING INVOICES
LACK OF DATA AND
POOR PREDICTABILITY
Common Pain Points In Accounts Payable