MP Moran’s paper mountain reduce to manageable mound thanks to eInvoicing system
MP Moran has increased efficiencies and strenthened supplier relationships through the adoption of an automated eInvoicing system
The builders’ and plumbers’ merchant, which stocks products from more than 2,000 suppliers across its seven branches in the UK and Ireland, implemented the payments processing tool after growing tired of manually processing mountains of paperwork.
Working with leading payments software experts Open ECX, an eInvoicing system that automatically converts and validates PDF invoices received from suppliers and seamlessly integrates into MP Moran’s Bistrack Accounts system, was implemented in December 2016 – at which time just 15 per cent of its suppliers were using EDI (Electronic Data Interchange) to submit invoices.
Adoption of the new eInvoicing system by MP Moran’s suppliers has been rapid. By March, 60 per cent of all supplier invoices were imported through EDI. The company hopes to reach an 80 per cent e-invoice rate in the near future.
Chris Cates, Project Manager at MP Moran, said: “The eInvoicing system has helped us move into the 21st century and increase our green credentials through the reduction in our use of paper, toner and posting. The time-saving element has been greatly appreciated by our purchase ledger team. For them, the job is less stressful and they now have more time to perform more valuable tasks now that they don’t have mountains of paperwork to go through and post manually.”
There are also benefits for our suppliers. While our payments were always previously on time, we have found that any queries are now coming to light more quickly and are much easier to solve.”
Matthew Jones, CEO at Open ECX, added: “We’re pleased that our eInvoicing system has had such an immediate impact for MP Moran. Our automated eInvoicing solution is simple and non-disruptive to supply chains – acting as a time-saving middle man between purchasers and suppliers by automatically generating and emailing PDF invoices.
The benefits range from increased processing efficiency, visibility, transparency and controls and reduced carbon footprint – as experienced by MP Moran.”
“Processes have significantly improved as there are substantially fewer posting errors owing to automated invoice numbers, dates and sums. This has enabled our accountant to close our monthly accounts a few days earlier than previously possible also predict cashflow more effectively.”
Chris Cates, Project Manager