Toyota Material Handling Europe (TMHE), provider of forklifts and warehouse equipment, has selected OB10, the global e-Invoicing network, to bring the benefits of invoice automation to its community of suppliers. e-Invoicing streamlines the complex invoice-to-pay process, and enables straight-through processing and prompt payment for suppliers.
With an initial focus on Sweden, TMHE is rolling out e-Invoicing to create more efficient Accounts Payable processes and build stronger relations with suppliers. By joining the OB10 network, TMHE has chosen an e-Invoicing platform that offers solutions for its larger and smaller suppliers. This project helps create a sustainable society by reducing Muda (waste) in terms of labour, energy, paper and time.
"We are running a series of campaigns to introduce all our suppliers to electronic invoicing," says Lars Hägerborg, CFO at Toyota Material Handling Europe. "By adopting OB10's best-practices for technical implementation and supplier enrolment, we will bring compliant straight-through invoice processing to our organisation, allowing a more consistent payment process for our supplier base."
To ensure the benefits of e-Invoicing are realised by both the company and its suppliers, representatives from Finance, Procurement and Sustainability are collaborating on the roll out.
"We're privileged to count TMHE among the latest organisations to join OB10," says Luke McKeever, CEO at OB10. "e-Invoicing will transform the TMHE purchase-to-pay process and bring value to its whole supply chain."