In order to bring higher levels of simplicity and efficiency to their invoicing process, leaders of Toshiba Business Solutions (TBS) recognized that an electronic invoice delivery solution was necessary.
“Our invoice format and process hadn’t been reviewed since we implemented the Oracle ERP nearly 10 years ago.”
– Todd Kirkham, Director of Operations and Acquisitions, TBS
Toshiba’s Main Objectives
Beginning their search for an accounts receivable (AR) automation solution, TBS identified two main objectives:
- Implement an integrated customer web portal
- Increase customer e-invoicing adoption
Along with the need for a variable data component to populate its new invoice templates, TBS also required a partner who could create multiple web portals for customers adopting e-invoicing.
Making the Move to E-Invoicing
Leveraging Esker’s AR solution, TBS is able to generate a list of every customer invoiced through the portal and send out more targeted and intriguing promotions to boost adoption rates.
Previously at an e-invoicing adoption rate of 1% for customers, TBS set a new goal of 20% to meet within the first three years — one it has already exceeded with an adoption rate of over 28% now.
“We really wanted to understand the pain points with our invoicing process, how our customers were impacted and what we could do to become more efficient — Esker helped us identify and solve them.” – Todd Kirkham, Director of Operations and Acquisitions, TBS
Benefits in the Form of ROI, Time Savings & Reduced DSO
Beyond the many benefits including invoicing cost reduction, increased customer satisfaction and higher employee productivity, TBS was able to achieve enormous time savings, reduced Days Sales Outstanding (DSO) and a large ROI.
“Since implementing Esker, we’ve seen a 1-day reduction in DSO and $342,000 ROI.” – Todd Kirkham, Director of Operations and Acquisitions, TBS
With a substantial amount of customers now receiving e-invoices, TBS has seen a drastic decrease in its average processing times — going from 10 minutes per transaction down to only 5 minutes per transaction.
Looking for more customer success stories on leveraging an automation solution? Visit our Resource Center!