Thermo Fisher Scientific increases AP productivity by 37% with e-invoicing

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Étude de cas

Fisher Scientific Europe invoice automation success involves a full commitment by its AP department. Fisher partnered with Tungsten to onboard suppliers and help company stakeholders better understand digitisation benefits

75%

of suppliers on the Tungsten Network

50% using

e-invoicing in three years

37%

increased productivity in less than four years

50 %

of all invoices managed through Tungsten

After Tungsten implementation, we experienced a vast reduction in the number of suppliers requiring support regarding lost or unpaid invoices. All Tungsten suppliers’ invoices are paid on time. Partnering with Tungsten has allowed the strategy in the AP team to move from a transactional focus to an analytical one, and my team is working on projects that add real value to the organization.

Fabienne Pierrot

Finance Director, Accounting & Audit, Thermo Fisher Scientific

Fisher Scientific Europe initially utilized Tungsten Network’s solutions to inform and guide P2P efforts across its European offices, which lacked uniformity and efficiency. After initial success, the scope continued to grow across other European offices, with the Fisher team experiencing difficulty adhering to changing country and industry specific mandates. Led by Fabienne Pierrot, Finance Director, Accounting and Audit, Fisher Scientific Europe began working with Tungsten Network to better automate and digitise their regulatory compliance efforts, and implement a uniform system, with standardized protocols, across its European offices.

Fisher Scientific e-invoicing initiative began their digitisation journey to ensure compliance and improve productivity and efficiency within their business. Looking after 3,000 suppliers, one million invoices per year, and utilizing one ERP, the team has leveraged Tungsten Network to guide their automation efforts.

Meet Fisher Scientific

Thermo Fisher Scientific (TFS) is “the world leader in serving science,” dedicated to improving the human condition through the provision of scientific instrumentation, reagents and consumables, and software and services to healthcare, life science and other laboratories in academia, government and industry. Created in 2006 through the merger of Thermo Electron and Fisher Scientific, the Waltham, MA-based multinational corporation employs more than 75,000 people in 250 countries. Its annual revenue now exceeds $25 billion.

Fisher Scientific Europe initially utilized Tungsten Network solutions to inform and guide P2P efforts across its European offices, which lacked uniformity and efficiency.

More recently, Fisher Scientific Europe began experiencing difficulty adhering to changing country and industry specific mandates. Led by Fabienne Pierrot, Finance Director, Accounting and Audit, Thermo Fisher Scientific began working with Tungsten Network to better automate and digitise their regulatory compliance efforts.

Fisher Scientific

Produit

tungsten