Accounts Payable Management
Utility Bill Management
Payroll Management
Success Story #1:
Wireless Service Provider
The Situation:
Inefficiencies that go unnoticed in mega-corporations become real stumbling blocks to their more focused spin-off companies. When one of North America's largest digital wireless networks spun off from its parent company, it faced a dilemma - taking on the approximately 1.2 million invoices it received annually without the inefficiencies that made the spin-off so attractive in the first place.
SourceNet Solution:
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Managed complete process transition from parent company to SourceNet service center in less than 90 days
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Created policy and procedure documentation for the payables process
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Implemented SourceNet processing and service models, including utilization of a dedicated customer support team
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Implemented improved control environment through quality assurance, duplicate management, and performance metric management processes
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Results:
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Reduced direct operations cost by more than $1 million or 30% annually
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Increased recognized discounts by critical suppliers by more than $10 million or 30% annually
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Reduced average invoice cost over baseline by more than 15%
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Increased internal and external customer overall satisfaction with accounts payable through client service approach and dedicated customer support team
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Success Story #2:
Pet Food Manufacturer
The Situation:
A leading manufacturer of pet food in North America and Europe, having completed a major acquisition, sought quick answers to problems involving complex accounts payable, and service level stabilization from suppliers. They also wanted better bargaining power to obtain best prices and simplified processing of invoices from disparate systems.
SourceNet Solution:
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Assumed management of existing U.S.-based AP operations
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Stabilized existing processes and implemented critical measurement metrics
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Configured proprietary web-based exception management and tracking tool
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Transitioned all accounts payable operations to SourceNet Houston Service Center
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Implemented SourceNet processing and service models, including the utilization of paperless processing and customer service center
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Initiated projects to implement EDI and ERS integration with key Client suppliers
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Implemented improved control environment through quality assurance, duplicate management and performance metric management processes
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Results:
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Reduced direct operations cost by more than $400K or 35% annually
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Reduced lost discounts and supplier penalties by over $1 million annually
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Improved on-time payment performance by 75%
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Improved supplier relationships through stabilization of standard operations
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Reduced indirect (field) accounts payable costs through implementation of web-based tools by over 60%
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Improved process controls and managed implementation of organization-wide accounts payable business rules
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