SOURCE: Transcepta

Transcepta

September 08, 2010 10:00 ET

Transcepta Selected to Automate Accounts Payable

ALISO VIEJO, CA--(Marketwire - September 8, 2010) -  Transcepta, a leading innovator of hosted electronic invoicing and procure to pay solutions, today announced that Raytheon Company selected Transcepta to eliminate the costs and inefficiency driven by receiving paper invoices from suppliers.

Raytheon, a technology and innovation leader specializing in defense, homeland security and other government markets throughout the world, wanted to improve its process by connecting suppliers electronically.

Raytheon researched a solution that would maximize supplier adoption of e-Invoicing, eliminate the most paper and leverage its existing investments. "We wanted all of our suppliers to connect electronically, and we knew to accomplish that we had to have a solution that worked for all suppliers regardless of size and invoice volume," said Alex Benanti of Finance Shared Services at Raytheon Company.

Because supplier adoption is the critical component to successful e-Invoicing projects, Transcepta has developed the industry 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.

For each invoice submission option, 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 supplier IT resources.

"We're delighted to have Raytheon as a customer and we look forward to connecting thousands of suppliers on their behalf," said Shan Haq, Transcepta vice president.

About Transcepta
Transcepta was founded in 2005 with the goal of making electronic invoicing for Accounts Payable a reality, eliminating all paper invoices. Our belief is that the critical success factor for electronic invoicing is supplier participation.

Transcepta is differentiated from other offerings by providing an attractive solution to your suppliers and a managed service to recruit and implement 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 your Accounts Payable department, 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).

Transcepta is located in Aliso Viejo, Calif. For more information, visit www.transcepta.com.

Contact Information

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    Lages & Associates
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