The Hidden Costs of Email in Business Transactions [Free Guide]

 

It’s not just David Byrne that asked “My God, what have I done? …How did I get here?”

For me, there’s plenty of food for thought here at both a personal and a business level. Setting aside the former for the time being, it’s worth considering the latter –  especially if it’s hitting your profits.

Email is an amazing tool that has revolutionised business communications and driven the use of the internet by providing almost instantaneous exchange of information between people. Its ease of use, ubiquity, immediacy and low transaction cost has helped it win out against meetings, fax, post and phone.

From a business perspective, this tool on everybody’s desktop is now carrying megaloads of spam, personal email, email duplicates, triplicates, updates and of course the key business transaction documents such as orders and invoices.

Do the key documents that your business depends on always get the immediate attention they need and deserve? Are they ever mistakenly overlooked or left languishing in the wrong mailbox? Is there a hidden cost to your business that has never been articulated for want of an apparent alternative?

There are 6 key functions required for a document transaction system to provide seamless trading between supply chain partners creating efficiencies and cost savings for each member.

A solution built on “best practice” principles for document transactions should meet the following criteria:

1.       Be able to share information in a timely reliable manner

2.       Ensure information gets into the correct processing pipe consistently

3.       Provide shared visibility of processing status

4.       Allow for consistent use of agreed mechanisms for resolution of exceptions

5.       Create a shared, authenticated audit trail

6.       Provide lean operation enhancement capabilities

The guide to the hidden costs of email when used for business transaction processing

Can email meet all of these criteria? I could go on but what’s the point when I can share this short accessible guide I prepared earlier (just out of the oven).

Click HERE to download your guide to the hidden costs of email when used for business transaction processing.

Enjoy!



Posted on May 17, 2012 in e-Invoicing, eBilling, Electronic Billing, Supply Chain by
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Irish Government Confirms Commitment to Cloud Computing Development with €1.2 Million Research Fund

 

The Irish Government has announced details of a €1.2 Million research programme designed to encourage investment into cloud computing. Headed up by Dublin City University, the Cloud Computing Technology Research Centre hopes to increase Ireland’s profile as a home for cutting edge developments in the field of outsourced computing. The fund is part of the wider ‘Action Plan for Jobs’ being implemented as part of Ireland’s economic recovery plan.

Irish Government Confirms Commitment to Cloud Computing Development with €1.2 Million Research FundRichard Bruton, the Minister for Jobs, Enterprise and Innovation said that the money would be distributed across several institutions which will be responsible for exploring developments across the field. Cloud computing architecture, business research, data security and service management will be all be investigated, with a view to encouraging increased uptake of cloud computing.

Commenting on the project, Bruton said, “the Government believes that between our climate, skills base, telecoms connectivity and existing strengths in ICT, we have the potential to reap substantial benefits in terms of jobs and growth from the global expansion of this [cloud computing] sector.”

Commenting on the Government’s decision, Ken Halpin, Managing Director of Celtrino said: “The Irish Government initiative is to be welcomed. Celtrino looks forward to the growing awareness across Europe that Ireland is an ideal location for hosting and exploiting cloud based services. Celtrino develops and delivers cloud based services and are happy to work with the Cloud Computing Technology Research Centre to further the project.”

Ireland is already a popular destination for computing firms, thanks to its favourable corporation tax rates and computing expertise. The Cloud Computing Technology Research Centre is sure to continue this trend.


Posted on May 4, 2012 in B2B Platform in the Cloud, Cloud Computing, G-Cloud, Government Cloud, Innovations, Research by
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PDF Invoices saving you time and money? Think again!

 

Many providers and even some governments have been touting PDF versions of invoices as a genuine form of electronic invoicing. Whilst PDF attachments sent via email are certainly electronic, many of the benefits available through automated e-Invoicing systems are lost.

A study published by AIIM (http://www.aiim.org/Research/Industry-Watch/Paper-Free-Capture-2012) reveals that PDF file attachments are in fact costing more than they are saving. How is this possible? Consider the following findings:

When receiving a PDF copy of an invoice, more than 75% of recipients immediately print a hard copy.

  • Of these persons who print invoices, 16% then re-scan the documents so that they can be sent on as email attachments.
  • 10% of those who receive PDF invoices print two or more copies.
  • Another 10% do the manual processing of PDF invoices on-screen, yet still print a copy for archiving.

It is clear therefore that for the majority of people receiving standard PDF versions of invoices are not really gaining anything from the process. The PDF invoice requires manual entry into the recipient’s own accounts system, duplicating effort and immediately reducing time savings over a printed copy to zero.

PDF Invoices saving you time and money? Think again!

By the same token, if 75% or more of PDF invoices are printed, the recipient again fails to benefit from the paperless-system by absorbing the cost of creating a hardcopy themselves. Perhaps the most unfathomable result of the AIIM survey is the finding that 16% of people print out PDF files so that they can rescan them into a new PDF file – this not only makes no sense, but is doubly costly in terms of time spent.

True electronic invoicing, such as that provided by Celtrino’s Smart Admin platform, de-duplicates manual entry and removes the need for printing invoices creating savings for both sender and recipient. This cannot be said of a standard PDF attachment.

 



Posted on April 26, 2012 in Celtrino Platform, e-Invoicing, Smart Admin by
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Report Calls on Multinationals to Reduce Carbon Emissions

 

A new report from the Carbon Disclosure Project (CDP) in conjunction with Accenture has called on multinational companies to further reduce their emissions throughout their entire supply chain. The CDP analysed 49 global companies and 1800 of their suppliers to ascertain just how well they were doing in meeting their emissions reduction targets.

Carbon emission reduction by implementing integrated supply chain solutions

The survey included household names like L’Oréal, Philips and Walmart and found that 43% of them had managed to make annual reductions in their own emissions. Somewhat less impressive was the 28% of their suppliers having achieved any kind of year-on-year reduction.

Obviously businesses can only exercise so much control over their suppliers’ business practices, but the CDP research suggests that as many as 39% of companies would drop a supplier if they failed to meet the environmental criteria of any agreement. Half of the businesses questioned have, or are in the process of developing, contractual obligations with suppliers for managing and reducing carbon emissions. Many are also offering suppliers positive media coverage to highlight their ecological efforts or various financial incentives.

As Boeing demonstrated, a significant reduction in carbon emissions can be created by integrating supply chain management systems for maximum efficiency. Whether implementation of a full-scale trading platform can be classified as a ‘quick win’, it should work out cheaper than many other major changes to a business’ processes.  Businesses can also expect to reap definite cost savings in their supply chain as an additional benefit as they streamline their processes for greater efficiency.

For smaller businesses, implementation of an electronic invoicing system which interfaces directly between their accounts systems and that of their suppliers could be the first step in reducing the emissions of both themselves and those of their suppliers. A hosted system like Celtrino’s Smart Admin could be just what they need to create efficiencies and reduce emissions.


Posted on April 20, 2012 in Report, Supply Chain Integration, Supply Chain Management, Supply Chain Performance by
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Extending the Supply Chain Management System

 

A recent change in California law now requires all businesses trading within the state with revenues in excess of $100 million to make their supply chain transparent, for easier verification that they are also complying with anti-human trafficking legislation. Businesses with lower turnovers are also required to make information about their staffing compliance to their customers who do breach the $100 million mark.

HandscuffKnown as the Transparency in Supply Chains Act, this new law is designed to reduce the use of illegal immigrants and slave labour within California and to help businesses identify points in their own supply chains where there may be an issue. As a result, companies are considering how to capture and store this information effectively.

To stay compliant, many companies have begun recording vendor reputation, employee hours and human-resources records in the supply chain management systems, and then making the information available to their supply chain partners. By sharing the information sensitively, businesses up and down the supply chain can see that their partners are not only compliant, but can prove it to the relevant authorities when necessary.

As Boeing found with their supplier portal, sharing information with suppliers and customers within the supply chain, significant efficiencies could be created beyond simply proving legislative compliance. The Transparency in Supply Chains Act has only been in force since January 1st and supporting systems and business processes are still maturing but eventually Californian companies will begin to recognise other benefits available through a more collaborative supply chain.

Information and resource sharing often helps to create a more efficient supply chain, but the politics and costs involved lead many such projects to fail before they even start. By forcing this change on companies, California’s new law will kick-start the collaborative process, which may well lead to further cooperation between affected companies, changing their future prospects.


Posted on April 12, 2012 in Supply Chain, Supply Chain Management by
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Business Processes Part 3 – Actions Post Implementation

 

Once the business case has been made for the introduction of processes and relevant systems have been identified for automation, the final stage is to implement the processes themselves. Whether the processes are for a small business, or a multinational corporation, the post implementation guidelines remain roughly the same:

Business Processes

  • Let the process grow and adapt. Process outlines which remain too rigid cannot scale as business needs change. By all means formalise the process, but allow the opportunity for future organic change and enhancements.
  • Involve others in process creation and implementation creating a shared ownership and common vision for improvement. Doing this will also overcome many of the political barriers which could otherwise prevent process realisation.
  • Maintain a culture of continual improvement. There is always room for the creation of new processes or the refinement of existing ones. Incremental changes will keep processes relevant to business needs and prevent them from becoming a hindrance in future.

Any process, internal or external, can help a business increase its levels of efficiency, but attempting a one-time, big-bang implementation is unlikely to have the permanent benefits desired. Processes need to be frequently revisited to allow for the identification of smaller improvements which will keep the process relevant. Changes in business model, customer demands or supplier will all necessitate changes to business processes – inflexible and infrequent analysis of processes will preclude this.

The responsibility for implementation of processes generally lies with management, but ultimately, all staff should be encouraged to participate in a continual process improvement.

Processes can exist as part of a supply chain management system, or as an internal operating procedure.  The scope is virtually limitless. Clearly, where computerised automation is required, a suitable platform will need to be sourced which provides the necessary framework in addition to flexibility for future refinements. Why not give Celtrino a call to discuss the Smart Admin platform and how it could help with your business process implementation projects?

 


Posted on April 5, 2012 in BPO, Business Process Automation, Business Process Outsourcing, Supply Chain, Supply Chain Management by
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Paperless Invoices and the Household Charge

 

100 euro in paperLast Friday I read a letter in the Irish Times from Seán O’Kiersey referring to the unusual decision taken by our Government not to issue invoices to people paying the household charge.

Reflecting on the decision not to issue invoices led me to believe that Ireland’s controversial household charge could be the spark that ignites e-Invoicing activity in the public sector in Ireland?

I wrote a reply to the Irish Times offering the services of my company Celtrino to resolve this invoicing impasse.

A chara, – Further to Seán O Kiersey’s letter (March 30th) concerning the absence of invoices to those paying the household charge, I too found this an extraordinary practice.

Without insight into the reasons behind this decision, I might nevertheless be of some assistance to the Government. As a company specialising in the issuing of paperless invoices on behalf of many hundreds of customers in Ireland for almost 20 years, I can offer the services of our company to the Government on a cost neutral basis. By utilising our existing infrastructure, we can create and issue these paperless invoices securely by e-mail to all those households who have registered online. For those households that do not have an e-mail address, we can arrange though our physical print and post partner to deliver the balance of invoices.

This can be done quickly and efficiently and will be consistent with industry best practice of issuing sales invoices/receipts for all monies owed/received. Should the Government wish to take up this offer, I can be contacted at the address below. – Is mise,

KEN HALPIN, Managing Director, Celtrino, 125 Parnell Street, Dublin 1.

Source: http://www.irishtimes.com/letters/index.html#1224314296003


Posted on April 4, 2012 in e-Invoicing, PEPPOL, Public Sector by
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Make Sure “Lean” Does Not Mean Inflexible

 

The wider financial crisis has forced many businesses to cut back in order to secure their future. Cost savings through efficiencies have been a high priority for many. Some of these cost savings have  initially been realised through reduced headcount but as the downturn continues and growth remains delayed, businesses are looking at supply chain effectiveness to maintain the downward pressure on costs.

Undoubtedly most supply chains will benefit from some degree of rationalisation and consolidation making good use of the cost savings that arise as a direct result. However when it comes to making cuts, it is very easy to get carried away creating a supply chain that is efficient but inflexible.

As we have discussed previously, uncertainties relating to the supply of raw materials and potential disruptions caused by natural disaster or civil unrest require a company to be agile in order to adjust to the unforeseen. If too many resources are stripped and the supply chain becomes so inflexible that there is no slack or room for adjustment, the results could still be catastrophic even in the face of tiny fluctuations.

Ultimately, your business will need to decide how best to adjust your supply chain, which parts to improve and which to remove whilst leaving your business in an operational state. The ERP system used to manage your supply chain will also need to be equally flexible and customisable to mirror accurately the changes in structure.

Using a period of rationalisation also allows decisions to be made that will define the future of the supply chain. Many companies are taking the opportunity to invest in strengthening their core systems; those tackling the challenge with a long term view are investigating off-site, cloud-based solutions with the capability to shift in line with the company’s own changing needs.

Celtrino’s own Smart Admin platform provides all the flexibility required to remain competitive regardless of the wider financial environment. To find out more, why not give us a call?


Posted on March 28, 2012 in ERP, Smart Admin, Supply Chain by
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EU eProcurement Framework Agreed

 

In early February, in a further boost to electronic trading across the European Union, the Competitiveness Council created a set of goals designed to promote online trade and electronic invoicing. Meeting in Denmark, various ministers laid out a timeline promoting several web-based trading systems with a view to doubling online sales by 2015.

The push for greater use of business technology is also reflected by attempts to grow online public markets until 2016, and e-Invoicing until at least 2020. The Danish EU presidency presented figures to ministers suggesting that growth of the digital single market would undoubtedly grow European GDP, perhaps by as much as four per cent over the next eight years.

EU eProcurement Framework AgreedThe European Commission recognise that at present digital public procurement markets remain a relatively niche sector of the wider marketplace, but the well documented benefits of switching from manual to digital processing should benefit member states in the long run. Factoring in reductions in manual administration should also help reduce costs and foster a greater degree of competition between suppliers at the point of tender.

During the same meeting, ministers backed the findings of the European Commission publication ‘e-Invoicing: Reaping the benefits of electronic invoicing for Europe’, which suggests increased adoption of the technology for cross-border e-Invoicing for member states. The report suggests that introduction of e-Invoicing between Eurozone members will significantly improve international supply chains across Europe creating working capital gains in excess of £300 million.

The move towards greater use of eProcurement systems and increased online trading comes in the same week that the European Union legislated for the new Single European Payments Area (SEPA), designed to facilitate easier banking across the region. Although the EU still trails behind several South American countries in their use of e-Procurement and invoicing, these recent changes will finally start to see that change.

 

Sources
http://www.sharedserviceslink.com/file/94290/eu-ministers-set-out-online-billing-and-procurement-plans.html


Posted on March 26, 2012 in Digital Single Market, e-Invoicing, eProcurement, EU, European Union, SEPA by
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Business Processes Part 2 – What can be made into a process?

 

We saw in the first instalment of this three part overview of business processes that implementation of processes carries a number of benefits based around creating efficiencies through de-duplication of effort. Having established the ‘why’, we can now shift the focus to the ‘what’.

Business Processes Typically, anything that is done more than once in any workflow becomes a candidate for conversion into a process. Look carefully at each sector of your business and identify where particular actions are repeated, taking in the smaller details as well as the larger picture; when designing processes there is nothing wrong with starting small. From the way in which a component is fabricated, down to the transfer of incoming mail onto a computerised accounts system, each department of any business has areas where efficiencies could be created by automating repetitive tasks.

Traditionally, processes are broken into two categories, Top/Down processes that address high level tasks, and Bottom/Up that automate lower level issues. Top/Down processes are created to be more general, providing a flexible guideline for completing a larger task, essentially directing the way in which a task is to be completed without specifying the exact steps to be taken. Acting almost like goals, Top/Down processes help define the ‘big picture’ and the steps required to make the final goal.

A Bottom/Up process however is far more prescriptive, acting like a recipe for the specific steps required to complete a smaller task. Typically, Bottom/Up processes, by their very design, are less flexible than their Top/Down counterparts, although it is possible to create some room for minor adjustments. Bottom/Up processes define the smaller steps required to maintain the Top/Down overview and goals.

Once potential processes have been identified, they should be implemented as soon as possible to reap the benefits immediately.

In the final part of this series we will examine the nature of ongoing process improvement.


Posted on March 23, 2012 in BPO, Business Process Automation, Business Process Outsourcing, Supply Chain Management by
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