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eBilling Can Help Solve Late Payments Issue for SMEs

Late payments in the UK

Late payments are the bane of any business. In Britain this is coming to the fore because Business and Enterprise Minister, Michael Fallon, has launched a campaign calling for large companies to improve the practice of tardy payments to small suppliers. This has also been picked up by the Telegraph who are running a campaign in conjunction with the Minister to encourage on-time payments.

Late Payments, Past Due StampLate payments to SMEs threaten their existence as cash-flow is an imperative to their survival. Small firms find themselves at the mercy of large companies who are increasing the time-frame in which they pay suppliers for work that is already completed. It is estimated by the Telegraph that £36.5 billion is due in late payments.

Latest research from the organisation reveals that smaller suppliers wait on average 41 days longer for payment than their contract stipulates. Many have to wait up to 180 days to be paid for services they provide to larger companies and the minister revealed that he had been told of one well-known company that had a payment process approaching 200 days.  (Telegraph)

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Posted on January 21, 2013 in Celtrino Express, Celtrino Platform, e-Commerce, eBilling, Electronic Billing by
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Celtrino Strengthens its Position in the e-Commerce World in 2012

2012 saw Celtrino grow and adapt in the e-Commerce world

In 2012 Celtrino increased its market share while positioning itself for future growth that will consolidate its current position as the leading B2B e-Commerce provider in Ireland and allow the company to explore new markets abroad.

For this blog we talked to Managing Director Ken Halpin about Celtrino’s year in 2012 and looked briefly at some prospects for 2013,

“In a very challenging economic climate for our customers, Celtrino successfully strengthened its position in each of the verticals within which it operates. In addition, we increased our levels of investment in people, processes, infrastructure and services across the company to better serve our customers and the needs of the marketplace.”

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Posted on January 16, 2013 in Celtrino Express, Celtrino Platform, e-Commerce, eProcurement, PEPPOL by
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Dynamic Discounting / Invoice We Trust

Dynamic Discounting - Invoice We Trust

Regardless of how “good” a business may be, ultimately its fate rests on a solid cash flow. In order to continue trading, every company needs money to come in so that they can purchase raw materials, which can be processed and converted into saleable goods and in turn create more cash.

As harsh economic conditions continue to bite, businesses are delaying payment to their suppliers to moderate their own cash flow, but in doing so jeopardise the viability of the other members of their supply chain. So how does a business encourage its customers to pay on time, or better yet, early?

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Posted on September 5, 2012 in Accounts Payable, Cash Flow Management, Celtrino Platform, Smart Admin, Supply Chain by
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Supply Chain Issues Cost UK Tech Firms Dearly

Supply Chain Issues Cost UK Tech Firms Dearly

Although tech giant Apple may have a superb supply chain to thank for much of their continuing success, a recent report by insurance provider Zurich suggests that medium-sized UK tech companies are not so fortunate. In the document, entitled ‘Weakest Link: UK Plc’s Supply Chain’, analysts reported that 88% of the 500 businesses surveyed had experienced at least one significant and costly disruption to their supply chain.

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Posted on August 15, 2012 in Celtrino Platform, Cloud Computing, Supply Chain by
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Celtrino’s Cloud has a Silver Lining

“Celtrino is growing, we need to be more scalable, we need to be in the cloud.”

That was the simple directive I received from our CEO over two years ago. At the time, my initial instinct was to advise him that we were already in the cloud, in “our cloud”, and after 10 years of optimising and fine tuning “our cloud” and our resources and processes we were really firing on all cylinders now, so thank you very much Windows Azure, but maybe we’ll pass for now. But I didn’t, mainly because despite the success of our own private cloud platform, I agreed with his vision.  Cloud computing was like a snowball that had been pushed down a hill, still small at that stage but growing in size and velocity and it was on a crash course for IT services. As Head of IT, the allure of having the ability to scale our IT platform without having to consider the logistics of rack space, or power units, or hardware contingency planning and having on-demand access to IT system resources via state of the art, internationally accredited data centres was simply irresistible.

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Posted on July 11, 2012 in Celtrino Express, Celtrino Platform, Cloud Computing, eBilling, Windows Azure by
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Who Can Benefit from Celtrino Express? An Interview with John Behan

Celtrino Express provides a document transaction platform for moving information between supply chain partners securely and with a full audit trail history to provide transparent reporting of processing progress. John Behan, Director at Celtrino, explains more about the potential applications of Celtrino Express.

John Behan, Director at Celtrino, explains the key benefits of Celtrino Express e-Billing Service

John Behan, Director at Celtrino

Transferring documents electronically between businesses has always been a trade-off between simplicity with error, such as when using email, or extremely complex to prevent these errors, such as traditional EDI. Neither of these approaches is ideal as online businesses move towards a more social model,” said Behan, which is why Celtrino Express has been specifically designed to be simple and intuitive to use whilst providing a secure mechanism for transparent audit trail creation and workload reduction.”

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Posted on May 25, 2012 in Celtrino Express, Celtrino Platform, EDI, Supply Chain, Supply Chain Management 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.

PDF Invoices saving you time and money? Think again!

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:

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Posted on April 26, 2012 in Celtrino Platform, e-Invoicing, Smart Admin by
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Beating the Bullwhip

The Bullwhip Effect describes the problems of trying to cope with fluctuating customer demand and the need for holding an inventory to cover the changes. J Forrester observed that the further up the supply chain one goes, the greater the inventory contingency required, and the greater the costs associated.

Bullwhip

Source: Wikipedia

Theoretically beating the bullwhip is simple – all that is required is to ensure that orders match demand precisely in any given operating period. Clearly this almost impossible in reality, so instead the accurate management of safety stock levels and precise forecast calculations are essential to reduce the impact up the supply stream.

Experts suggest that moving from forecast-driven to demand-driven supply chain methodology will be more successful than statistical analysis, as goods are manufactured to order based on up-to-the-minute data directly from the retailer. Known as ‘Kanban’ within manufacturing industries, demand-driven supply chains gather sales data from the Point of Sale (POS) terminals in an organisation’ stores, allowing collection of highly accurate customer demand data which can then, according to business policies, be made available for use by any partner within the supply chain.

The genius of Kanban-based supply is that information sharing allows every link in the supply chain access to the customer demand data which can then be used to inform their internal inventory buffers. This open data dispensation actually benefits business up and down the supply chain, adding an additional layer of financial protection to each by avoiding the costs associated with an oversized safety buffer of stock.

Implementation of such a demand-driven system can be fraught with difficulties, both technical and political, but the use of externally hosted cloud services such as Celtrino’s Smart Admin platform can help address many of these. Smart Admin allows businesses to retain their own in-house systems whilst providing a data sharing interface for accessing the relevant data from their supply chain partners.


Posted on February 8, 2012 in B2B Platform in the Cloud, B2G e-invoicing, Business Process Outsourcing, Celtrino Platform, Cloud Computing, Supply Chain, Supply Chain Performance by
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e-Invoicing and Supply Chain Costs Reduction for Private and Public Sector – White Paper

On 17th November the Department of Public Expenditure and Reform published the Public Sector Reform plan and a number of its recommendations made headline news: the reduction in headcount and the end of decentralisation.

However, the report contains more far reaching objectives which the reporting media simply did not and do not understand.

In effect, the public sector in Ireland is set to change the way it processes its day-to-day business activities. This change is transformative, it will impact the entire island and profoundly change the way all businesses process business transactions.

This reform plan signifies major change even if you do not deal directly with the public sector. As has been demonstrated in other countries that have embarked on such projects, the change sweeps across the both the private and public sectors. It is irrevocable and to be absolutely clear, it is hugely positive.

The proposed change will give you reason to question:
1. How will my supply chain be affected and what do I need to do to prepare?
2. Is my ERP or back office system(s) fit for purpose?
3. What does e-Invoicing entail?

The appropriately titles white paper ‘Ireland is About to Become a Whole Lot Smarter’ presents a detailed overview of the opportunity at hand for both the private and public sectors in Ireland.

The economic circumstances have to a large extent forced the governments hand on this reform and we must take this opportunity as the benefits are significant and far reaching. Our Nordic neighbours are well down the e-Business journey and derive significant cost savings, and now have a solid e-Business infrastructure that is a competitive trading advantage.

No journey of this nature is exempt from challenges and obstacles.

So, download a copy of the white paper and please remember, here at Celtrino our door is always open and we are more than willing to help you plan to take advantage of this opportunity.

 


Posted on December 20, 2011 in B2G e-invoicing, Celtrino Platform, Cloud Computing, e-Invoicing, Private Sector, Public Sector, White Paper by
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Electronic Purchase Order: Eradicate Manual Process and Increase Profit

Hear how you can reduce the manual process in your supply chain and increase profit margins by using Electronic Purchase Order solution.


Posted on December 15, 2011 in Celtrino Platform, Cloud Computing, Electronic Purchase Order, Purchase Order Capture Automation, Supply Chain, Supply Chain Management, Supply Chain Performance by
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