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Case Study

Schneider Electric realises cost savings of $500,000 in the first year of its e-invoicing initiative

Schneider Electric invoice automation success can be attributed to the full commitment of its AP department to partnering with Tungsten Network to onboard its suppliers and work with other company stakeholders to advance understanding of the benefits of digitisation.

500k

annual savings in year 1

85%

STP rate

54%

of suppliers switching to e-invoicing

There are two distinct components required for a successful e-invoicing initiative: the technical and the supplier enablement services,” says Carper. “When evaluating options, it is critical to consider all of the capabilities and all of the costs for each option being considered. Tungsten was the best option for both components.
Pam Carper, Manager of Disbursements
Manager of Disbursements.

THE IMPACT

Within six months, 38% of suppliers had converted to e-invoicing, with a further 16% in the process of switching. By that time, Schneider Electric had already realized $200,000 in operational savings and could project $500,000 in annual savings with Tungsten Network fully deployed. With e-invoicing, Schneider has experienced fewer errors, faster cycle time and more invoices processed straight through without requiring manual intervention.

Schneider Electric Logo

Meet Schneider Electric

Schneider Electric is a French multinational enterprise specializing in digital automation and energy management. Combining innovative energy technologies, real-time automation, software and services, and provides integrated solutions for homes, buildings, data centers, infrastructure and industries. Schneider first approached Tungsten Network in 2008.

Visit Schneider Electric

Product

Tungsten