Wednesday 18th June, 2014

In a novel approach to helping organisations onboard suppliers, Taulia has launched a new service designed to help them. The Taulia eInvoicing Rescue Service, announced today, provides free consultation for businesses whose eInvoicing and ePayment platforms are not delivering expected returns, and guarantees a solution that will meet or exceed businesses’ original eInvoicing goals.

Jon Keating, EMEA managing director of Taulia, says: “Companies move to electronic Invoicing platforms to manage cash flow and reduce the cost of supply chain transactions. However, since Taulia launched in Europe, it has become clear that many companies are not receiving the expected benefits from eInvoicing. We plan on changing that.”

One main flaw that Taulia has identified in some eInvoicing platforms is that they often do not benefit all parts of the supply chain. In fact, some eInvoicing platforms make it more expensive for suppliers by charging them fees on a per invoice basis, and by adding time constraints. Additionally, many platforms exclude certain suppliers so that the benefits of eInvoicing are not available to the entire supply chain. This can have a serious impact on suppliers, as many struggle to make payments on time because of cash flow problems. Taulia’s rescue service addresses all these key problems of existing eInvoicing solutions, and offers businesses with value above and beyond their original project scope.

Taulia’s eInvoicing Rescue Service comes with:

• Free business process consultation
• Proof of Concept that demonstrates how eInvoicing solutions could and should work
• The promise that, if a synergy exists, Taulia’s solution will be implemented and live in 12 weeks
• A guarantee to migrate 100% existing networked suppliers, and add the same number again in new suppliers
• Entrance into Taulia’s million pound savings guarantee programme

“Many companies view eInvoicing as the end goal for the business when, in fact, it should be seen as the first step towards further supply chain investments. Supplier Financing, which enables suppliers to choose to be paid early in exchange for a discount, has been proven to strengthen relationships and add millions to the bottom line,” says Keating.

This new initiative follows the publication of a report, Trade Credit in the UK Economy, conducted by Taulia and the Credit Management Research Centre, which shows that businesses are entering the recovery saddled with a £75bn trade credit gap which is threatening their future. It also proves how vital it is for companies of all sizes to have total control over trade credit.