Tuesday, October 16, 2007
IFS to offer customers electronic invoicing when dealing with customers and suppliers of all sizes
IFS and Pagero have expanded their cooperation into a global agreement that integrates Pagero e-Invoice solutions with IFS Applications. Pagero’s solution works as a communication hub that is fast and easy to set up. It allows small and midsize companies, working with large enterprises, to send and receive e-invoices without costly software implementations or customizations and helps save the environment by using less paper.
IFS customers, typically medium-size to large companies, can now offer their customers and suppliers an efficient and cost-effective way to implement digital-to-digital (D2D) e-Invoicing. The Pagero solution is an Internet service that works as a communication hub to identify, convert, archive and route all types of invoices. This means all businesses, including small companies in the financial supply chain, can benefit from reduced handling costs, lower Days Sales Outstanding (DSO), minimized costs and improved cash flow while enhancing security. By simply activating the workflow functionality within IFS Applications, companies can invoke a seamless integration with Pagero. Customers using the system will benefit from increased operational efficiency as a result of their prior investment.
In Europealone true e-invoice (D2D) would save 20 billion letters, 400,000 tons of paper, more than 12 million trees, 2700 tons of ink, 165 million liters of diesel, and 1350 GWH energy—every year.
“IFS Applications and its workflow functionality, together with Pagero, does not change the invoicing process itself nor go against traditional practice,” President & CEO IFS Group Alastair Sorbiesaid. “The system reduces unnecessary tasks, speeds up the invoicing process and saves natural resources at no extra cost.”
“Most companies have modern financial systems installed. However, today we often pull information from these systems, gain approval in emails or on signed hard copies and then struggle to reconcile this back into the accounting system again. This involves unnecessary manual processes. Why? IFS Applications and Pagero removes this and enables digital-to-digital without any hassle for the users,” President & CEO Pagero AB Fredrik Rosenqvist said.
IFS (OMX STO: IFS), the global enterprise applications company, provides ERP solutions which enable organizations to respond quickly to market changes. The solutions allow resources to be used in a more agile way to achieve better business performance and competitive advantage. Founded in 1983, IFS has 2,600 employees worldwide. With IFS Applications™, now in its seventh generation, IFS has pioneered component-based ERP software. The component architecture provides solutions that are easier to implement, run and upgrade. IFS Applications is available in 54 countries in 22 languages. IFS has over 600,000 users across seven key vertical sectors: aerospace & defense; automotive; manufacturing; process industries; construction, contracting & service management; retail & wholesale distribution and utilities & telecom. IFS Applications provide extended ERP functionality, including CRM, SCM, PLM, CPM, enterprise asset management, and MRO capabilities.