SOURCE: Transcepta

Transcepta

September 28, 2010 10:00 ET

Retail Sector Embracing E-Invoicing

Transcepta E-Invoicing Solutions Making a Positive Impact on Retailers' Bottom Line

ALISO VIEJO, CA--(Marketwire - September 28, 2010) -  At a time when every penny counts and companies are looking to operate with maximum efficiency, major national retailers are turning to e-Invoicing to help make bottom line gains. Companies such as 7-Eleven, Tim Hortons and Restaurant Depot have found that e-Invoicing not only cuts costs, it eliminates the inefficiencies inherent in the process of receiving paper invoices from suppliers -- resulting in the ability to do more with less.

Transcepta, a leading innovator of hosted electronic invoicing solutions, is heading up the charge to help retailers reduce operating costs and strengthen trading relationships with their suppliers. Through Transcepta's solution, retailers, a sector that typically contains organizations with large volumes of inbound merchandise, can easily reap the benefits provided by e-Invoicing -- with minimal capital outlays.

Lora White, Restaurant Depot director of accounts payable, explains, "We're really benefitting by moving away from the paper based invoicing process. My staff productivity is increasing and the trading relationships with my suppliers are improving as well."

Supplier adoption is absolutely critical to successful e-Invoicing projects, and Transcepta has developed the industry's leading technology and approach to supplier on-boarding. To maximize adoption, Transcepta manages the entire on-boarding process for its customers. As part of this service, Transcepta notifies each supplier of the e-Invoicing initiative and works with them to determine their optimal invoice submission option. Transcepta offers suppliers a variety of invoice submission options, including the patent pending Transcepta Virtual Printer. For each of these invoice submission options, setup is completed in minutes and suppliers are able to send invoices directly from their existing billing system for guaranteed, secure delivery. Further, suppliers do not pay any setup or implementation fees and Transcepta does not require participation from vendor IT resources. Transcepta will connect any supplier, regardless of size or invoice volume, in one business day.

According to David G. Kraulis, senior manager of financial operations for Tim Hortons, the fourth largest publicly-traded quick service restaurant chain in North America, "We wanted to move to electronic invoicing but were concerned about supplier adoption. Transcepta was able to transition us away from paper by providing a solution that worked for both Tim Hortons and our suppliers. Now we're more efficient, green, and in a position to grow our business without adding headcount to cover the invoice growth."

Transcepta provides a service of on-boarding, wherein suppliers can send invoices electronically, directly from the suppliers' existing billing system. Suppliers do not have to type invoices into a web portal to submit invoices, a common complaint of other e-Invoicing solutions. After suppliers submit invoices through Transcepta, the invoices are processed directly into the retailers existing accounts payable infrastructure.

"By swapping paper invoices for electronic ones, retailers will have immediately uncovered a major source of cost savings, and at the same time will have made both their Purchasing and A/P departments more efficient and their company more environmentally friendly," noted Shan Haq, Transcepta vice president of global marketing and sales. "The pressures of the current market environment are causing retailers to take a hard look at ways to run more efficiently without large up front investments, and Transcepta is here to help them embrace the advantages offered by e-Invoicing." 

About Transcepta
Transcepta was founded in 2005 with the goal of eliminating paper invoices and making electronic invoicing a reality for Accounts Payable departments across the globe. The company believes that the critical success factor for electronic invoicing is supplier participation. Transcepta is differentiated from other offerings by providing an attractive solution to suppliers and a managed service to recruit and connect those suppliers. Transcepta is the only electronic invoicing solution that removes the long standing barriers (cost, time and complexity) to supplier adoption.

While offering robust functionality and flexible integration to Accounts Payable departments, Transcepta enables suppliers to submit invoices with their existing billing system and process. Suppliers do not pay setup or any other upfront fees and implementation takes only five minutes of a supplier's time. IT support is not required for supplier implementation and invoice submission is automated (i.e. not manually typing invoices into a web portal). Thousands of companies have joined the Transcepta Community to lower costs, improve efficiency and strengthen trading relationships.

Contact Information

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