Kew Electrical embraces Canon’s end-to-end Purchase to Pay platform
LONDON, 12 January 2017 – Canon, world leader in imaging solutions, today announced that award-winning independent electrical wholesaler Kew Electrical has deployed Canon’s end-to-end Purchase to Pay automation platform to streamline its invoicing process.
Prior to the deployment, Kew Electricals was manually processing 96,000 supplier invoices for its 24 stores every year. The laborious and complex process involved the manual matching of invoices to delivery notes and purchase orders. This cycle took up almost all of the accounts payable team's time and caused delays to closing Kew Electricals’ monthly accounts ledger.
Canon deployed an integrated, digital, end-to-end Purchase to Pay platform to migrate Kew Electricals’ invoicing to an automated cycle that would boost efficiency, productivity and procedural clarity. Incoming invoices are now automatically captured and channelled into clear and efficient workflows for processing. Canon’s Purchase to Pay platform also securely syncs with Kew Electricals’ stock tracking system, to ensure that numbers become balanced when new invoices are received.
The automation of matching delivery notes, invoices and purchase orders has already resulted in an 80% improvement in Kew Electricals’ accounts payable capacity and efficiency. Moreover, the platform has the flexibility and scalability to ensure Kew Electricals can cope with a 10% year-on-year growth in invoicing volumes.
Tim Standing, Financial Director at Kew Electrical, is already seeing the benefits of Canon’s Purchase to Pay solution: “Canon’s Purchase to Pay proposition has had a huge impact in making us a much more efficient and productive business. We’ve taken back control of our invoicing, reducing both the time and resource required for this vital business function. As a result, we can continue to invest in our customers and expanding our portfolio of trade stores around the United Kingdom.”
Fabrizio Falzarano, Purchase-to-Pay Solutions, Business Developer, Canon Europe, comments: “Businesses are changing and an increasing number of CFOs are leading digital transformation in their organisations. Taking control of your Purchase to Pay operations can support improved performance. Businesses want to access, and pay for, goods and services in the most cost effective and efficient way possible. The right technology, and a partner with the right expertise, can play a big role in achieving this.”