Amira Morcos, Senior Director of Oracle Product Strategy, presented at RECONNECT 19 about how PeopleSoft eSettlements can help PeopleSoft users expand supplier collaboration and reduce operational costs.
Often, organizations report complex and multi-dimensional problems with supplier interactions. These include poor handling of credit disputes, lack of process control, high paper invoice volume, and disgruntled suppliers. As a result of these issues, the business may encounter staff reductions, lost discounts, payment errors, and matching errors. This is where eSettlements can help.
The Value of PeopleSoft eSettlements
PeopleSoft eSettlements delivers business value in three primary ways:
- Expanding supplier collaboration
- Streamlining and automating invoice management
- Simplifying operational processing and reducing costs
Expanding Supplier Collaboration
The sub-benefits from collaboration are vast. With Dynamic Discounting, users can manage costs, reduce liabilities, increase working capital, and improve supplier relationships. The system allows for real-time collaboration, proposals for discount change in lieu of earlier payments, and a Fluid user interface.
As the bullets show below, both buyers and suppliers receive value from PeopleSoft eSettlements.
Some of the ways suppliers benefit from PeopleSoft eSettlements include:
- Eliminating printing and mailing costs
- Increasing process efficiency
- Better cash management
- Tighter customer relationships
- Visibility into collections pipeline
Some of the ways buyers benefit from PeopleSoft eSettlements include:
- Eliminating lost vendor discounts
- Better cash visibility
- Improving supplier relationships
- Greater efficiency
- Reducing paper processing
- Lower cost
- Better cash management
Streamlining and Automating Invoice Management
A configurable invoice pre-validation saves time from errors. Users can set templates and rules that prevent invoices with incorrect data from loading. Additionally, within the system, suppliers can easily review and submit corrected invoices. These rules can be applied to all suppliers or specific ones, and the error listings can be turned on for both internal and external suppliers to smooth processing.
Furthermore, eSettlements provides a Fluid UI and efficient support for expanding controls within financial mobile approvals. The interface is visually appealing and configurable via Page Composer.
Simplifying Operational Processing and Reducing Costs
Intuitive self-service improves operations through reducing annoying vendor calls, cutting the cost of payables operations, and allowing new supplier Excel uploads.
With fewer vendor calls, the workload is reduced, supplier relationships can be improved, and users have the capacity to recognize discounts. Operational cost savings come through self-service for invoice submissions, real-time dispute resolutions, discussion service, and Adhoc discounting collaboration. Lastly, Excel uploads ensure accuracy and reduce invoice entry.
Customer Success Stories
PeopleSoft eSettlements is used by companies in a variety of industries, including:
- Retail: Lowe’s, Abercrombie & Fitch, Advance Auto Parts
- Higher Education: University of Michigan, University of Louisville
- Professional Services: Intergrys, Ensco
- Other Services: FedEx, Sprint, IHG
- Healthcare: Blue Cross Blue Shield, Intermountain Healthcare
As customers begin using these systems, they are excited to report their victories. Here are a few recent wins:
- The Bank of New York Mellon saved $15 million on its first bid using strategic sourcing.
- Midwest Power and Light Co. successfully moved 400 supplier users onto eSupplier Connection. Those suppliers are now able to self-serve through the Supplier Portal.
- The State Municipality Department of Admin Services has provided access to 50,000 registered bidders and suppliers and moved 28 universities to strategic sourcing.
To learn more about how PeopleSoft eSettlements helps PeopleSoft users expand supplier collaboration and reduce operational costs, check out the full RECONNECT 19 presentation and additional resources attached below.
COLLABORATE 20 will take place April 19-23, 2020 at the Mandala Bay Resort and Casino in Las Vegas, Nevada! Don’t miss this chance to share inspiration, insights, and solutions with your peers, vendors, and the Oracle team!
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- Cloud Day: November 12
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- PeopleSoft Day: November 14
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If you’re looking for more PeopleSoft content, join us next year at RECONNECT 20, the premier deep-dive PeopleSoft focused event of the year! The event will take place July 21-23, 2020 in St. Louis, Missouri. Keep an eye out for more information on this event!