World Leading Thread Manufacturer Has Accounts Receivable Process All Sewn Up With Esker
Derby, UK — September 14, 2018 — Esker, a worldwide leader in document process automation solutions and pioneer in cloud computing, has enabled a world leading thread manufacturer to fully automate the accounts receivable process to accelerate cash collection.
One of the world’s leading industrial thread manufacturers, consumer textile crafts business and a major player in the Americas’ textiles crafts market has continued to grow rapidly. They soon realised that they needed to start to automate some of their current manual paper-based processes.
Having reached a high capacity of invoice delivery and archiving (approximately 50,000 invoices per year), they recognised that it was no longer viable to continue with a manual process.
Esker was chosen to help them move away from paper-based documentation to an electronic format and automate their accounts receivable (AR) processes.
Esker could offer their customers the ability to move towards a more automated process, and adapt to this new process at their own pace following a three step approach.
1. Mail: Automate all the manual touch points on the supplier side and continue to deliver invoices by mail to their customers.
2. Mail & electronic invoices: Offer their customers the ability to receive their invoices electronically, giving them access to the customer portal to view their invoices 24/7.
3. Electronic invoices: Deliver 100% of invoices to customers electronically. Suppliers can quickly activate e-invoicing for all their customers in just a few clicks.
Through its partnership with TrustWeaver, a leading expert on e-invoicing compliance issues, Esker was the perfect fit to help apply the appropriate e-signatures, time-stamps and verifications to ensure regulatory compliance in over 40 countries.
“We have been able to accelerate cash collection with a faster, more efficient invoicing process, cut the cost of sending our invoices by an estimated 40%-80% and adhere to any regulatory laws when invoicing to other countries around the world”, commented the Finance Manager.
“Furthermore, we have also made savings with electronic archiving without the necessity to store manual paper-based documents on our own premises, and have obtained full visibility through the use of a customer portal to track the progress of delivered invoices. We are now looking forward to expanding Esker into other areas of our business”.
About Esker
Esker is a worldwide leader in cloud-based document process automation software, helping financial and customer service departments digitally transform their order-to-cash (O2C) and purchase-to-pay (P2P) cycles. Used by more than 6,000 companies worldwide, Esker’s solutions incorporate technologies like artificial intelligence (AI) to drive increased productivity, enhanced visibility, reduced fraud risk, and improved collaboration with customers, suppliers and internally. Esker operates in North America, Latin America, Europe and Asia Pacific with global headquarters in Lyon, France, and U.S. headquarters in Madison, Wisconsin. For more information on Esker and its solutions, visit https://www.esker.co.uk. Follow Esker on LinkedIn at Esker – Northern Europe, or on Twitter at @EskerNEurope and join the conversation on the Esker blog.