|By Business Wire||
|November 19, 2012 08:00 AM EST||
Esker, a worldwide leader in document process automation solutions, announced today that Techtronic Industries France, a leading supplier of power tools and subsidiary of Techtronic Industries (TTI), has selected Esker to automate the processing and sending of its customer invoices via a fully automated, cloud-based Accounts Receivable (AR) solution. Thanks to Esker, TTI France can now integrate electronic invoicing, group paper invoices into one envelope and utilize international sending capabilities.
TTI France was previously outsourcing invoice delivery to an external provider, but encountered many pitfalls (e.g., lack of invoice tracking, unreliability, irregularities in sending procedures, etc.). A strategic decision was made to find a more reliable solution capable of completely automating the delivery of paper and electronic invoices. Esker was able to meet TTI France’s needs, automating the delivery of electronic invoices to company subsidiaries — a combination of electronic and paper invoices to repair centers and paper invoices to customers.
“We experienced a significant decline in the quality of invoice delivery, and this had a direct impact on our customer and partner relations. It was crucial that we found an alternative solution to automate invoice processing,” said Jean-Christophe Bavcevic, IT Project Manager at Techtronic Industries France. “Having already worked with Esker and being confident in their service quality and reliability, they were the logical choice. Esker brought us not only true business expertise, but other sophisticated solutions like electronic invoicing, the capability to group invoices for the same customer in a single envelope, and the ability to print invoices destined for Belgium from a Belgium production facility.”
With the help of Esker, TTI sends over 180,000 invoices annually to customers, repair centers and company subsidiaries. The yearly invoice breakdown consists of over 170,000 paper invoices sent to customers by postal mail (4,200 of which are sent in both paper and electronic format to repair centers), and over 10,000 electronic invoices sent to TTI subsidiaries.
The global Esker cloud-based AR solution offers TTI France numerous benefits, including:
- Reduced document sending time and fewer payment delays thanks to daily invoice delivery
- Significant time savings for subsidiaries and repair centers who are now able to autonomously track invoices on the web portal
- 24/7 invoice tracking capabilities
- Improved customer, partner and subsidiary relations thanks to a reliable and transparent invoice process
“In the past, we were not able to track our invoices from the time they left our ERP — we spent hours looking for lost invoices or sending duplicate ones,” said Bavcevic. “Today, we are certain our customers receive their invoices and can know at any time where the invoice is. We have also received positive feedback from our subsidiaries and our repair centers who are pleased to benefit from a reliable and responsive system.”
TTI plans to extend their use of Esker solutions to the automation of other strategic business document processes such as accounts payable and sales order processing.
About Techtronic Industries
Founded in 1985 and listed on the Stock Exchange of Hong Kong Limited in 1990, TTI is a world-class leader in quality consumer, professional and industrial products marketed to the home improvement, hardware and construction industries. An unrelenting strategic focus on Powerful Brands, Innovative Products, Exceptional People, and Operational Excellence drives our success.
TTI’s powerful brand portfolio includes: MILWAUKEE®, AEG® and RYOBI® power tools, accessories and hand tools, RYOBI® and HOMELITE® outdoor products, and HOOVER®, DIRT DEVIL® and VAX® floor care and appliances. TTI is one of the constituent stocks on the Hang Seng HK SmallCap Index under the Hang Seng Composite Index, the FTSE All-World Hong Kong Index and the FTSE Xinhua Hong Kong Index. For more information, please visit www.ttigroup.com.
Esker is the worldwide leader in document process automation solutions. Addressing all types of business processes from accounts payable and accounts receivable to sales order processing and procurement, Esker cloud computing solutions enable companies to automate the reception, processing and sending of any business document with one platform. Esker helps over 80,000 companies across the world to reduce the use of paper and eliminate manual processes while improving their productivity, efficiency and environmental impact.
With 36 million euros in sales revenue in 2011, Esker operates in North America, Europe and Asia Pacific with global headquarters in Lyon, France and U.S. headquarters in Madison, Wisconsin. Esker is listed on the NYSE Alternext in Paris (Code ISIN FR0000035818). For more information, visit www.esker.com. Follow Esker on Twitter at twitter.com/eskerinc and join the conversation on the Esker blog at www.quitpaper.com.
© 2012 Esker S.A. All rights reserved. Esker and the Esker logo are trademarks, registered trademarks or service marks of Esker S.A. in the United States and other countries. All other trademarks are the property of their respective owners.
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