Tesco today announced its decision to implement electronic invoicing with the OB10 e-Invoicing network.
The retailer is said to have selected OB10 following a review of various platforms and technologies as part of an ongoing process to improve end-to-end processes for its goods and services not for resale.
OB10 was chosen as it offered a “flexible solution that can be implemented quickly”.
Additionally, it has the potential to accommodate all Tesco suppliers and all their countries of operation.
The fact that OB10 manages supplier enrolment and its solution enables organisations of all sizes to send invoices electronically proved decisive in the selection process.
Ryan Harvey, finance manager at Tesco’s service centre in Bangalore, said: “We have come a long way in the past two years in our procurement processes and to complement this we were looking to make our invoice payment process more efficient and accurate.
“Our current process has too many points of failure, as all invoices are currently scanned from the UK and keyed in Bangalore and so the data integrity and control aspects that OB10 brings is crucial.
“A key factor for me was OB10′s supplier enrolment process and I felt we could deliver significant benefits in a short period of time.
“We are also a growing international business and a key requirement was for a solution that we could scale across our Group in the future without significant growth to the Accounts Payable team; OB10 meets this requirement.”
Tesco also sees benefits for its suppliers however, and Stuart Blackery, commercial manager, said: “This is another step in enhancing our procure-to-pay process for goods and services not for resale.
“Giving suppliers the ability to send invoices electronically to Tesco will improve our ability to ensure payment is accurate and on time.”
Jamie Gunn, chief executive of OB10, said: “We are very excited to add a global brand such as Tesco to our blue chip customer base.
“Of course, Tesco receive thousands of invoices per day, so we are looking forward to working together to streamline this process for them.
“We believe that the level of support we offer and our supplier enrolment capabilities are unrivalled in this industry, making us an ideal partner for an organisation such as Tesco”.
Source: OB10
