Avery Dennison’s transformation began with a simple objective: eliminate paper-based processes and the inefficiencies, errors, risk, costs and delays associated with them. To reach this objective the company has created a plan to align sourcing, procurement and accounts payable and set out to find a solution where e-invoicing and the related processes of spend analysis, sourcing, contract management and procure-to-pay could be integrated and managed on one platform.
Enter SAP Ariba. Leveraging the Ariba Network and the cloud-based applications delivered on it, Avery Dennison has created a connected digital procure-to-pay process that is changing the game. And the process is delivering results. Since implementing SAP Ariba’s solutions, Avery Dennison has been able to cut its invoicing processing cycle from 23 days to five, lowered invoice processing costs, saved 400 hours per week for buyers in procurement and AP staff through reduced match exceptions.
Furthermore, the number of supplier inquiries has been reduced and invoice exceptions for indirect purchase orders have dropped by 70% leading to on-time payments performance improvement of 15%.
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