SAP Partners with Crossgate to Provided E-Invoicing Services
Crossgate to Offer e-Invoicing Services in Collaboration with SAP AG Innovative Electronic Invoicing Services
Apr. 22, 2008 02:15 PM
Crossgate will extend the scope of its collaboration with
SAP in the field of business process outsourcing (BPO). The goal is to make
life easier for organizations that want to streamline their financial supply
chain, thereby saving money and helping the environment.
In today's fast-paced global economy, companies are finding
it difficult to turn sales into cash.
Manually sending paper invoices is slow and expensive, and processes are
not integrated among business partners.
Audits and other regulatory compliance efforts are often time-consuming
and difficult. When disputes arise, resolving them puts heavy burdens on
company resources and delays payment.
These problems may result in inefficient financial supply chains with
large amounts of aging and uncollected receivables. Because predicting cash flow is difficult,
the average days sales outstanding (DSO) for most companies is 45 days. And long cash conversion cycles can translate
into significant competitive disadvantages.
E-Invoicing can reduce accounts receivable costs by up to 60
percent. By improving cash management processes and reducing DSO, companies
have more cash available to repurchase stock, expand business operations, and
reduce debt, all of which have a positive effect on stock price.
Crossgate, leveraging SAP technology and extending its BPO
collaboration with SAP, can now deliver an electronic invoicing service that
solves these problems. By replacing paper invoices with electronic data
exchange, companies will be able to realize huge savings in time, paper,
printing costs, and staffing expenses.
Disputes will be easier and faster to resolve electronically because
inbound and outbound processes are integrated between business partners. Ensuring regulatory compliance will also be
simplified using digital signatures and electronic archiving. In European Union countries, for example, electronic
data exchange makes it easier for companies to protect against audits and VAT
tax inquiries by simplifying 10-year storage and search requirements.
"Today, Fortune 1,000 organizations are looking to
partner with vendors like Crossgate to accelerate the benefits of electronic
invoicing," said Stefan Tittel, founder and CEO, Crossgate AG. "Over
the last three years, many finance organizations have recognized that an
outsourced solution such as our Business-Ready Network simplifies the
management of the legal requirements while lowering the overall cost of
implementation and ongoing management.
Through our collaboration with SAP related to BPO, we are helping to
solve a key issue for global customers transacting business around the
Crossgate's e-invoicing solution leverages a specially
configured but standard SAP platform that provides seamless integration with
the business processes of buyers and suppliers.
The benefits of e-invoicing go beyond financial benefits by contributing
to ongoing green supply chain initiatives to save paper and therefore help the
"Our objective is to deliver added value to finance and
supply chain organizations worldwide by leveraging the capabilities of select
service providers," said Gianni Giacomelli, head of Strategy and
Marketing, SAP Business Process Outsourcing (BPO). "Crossgate, is able to
extend our solutions with a simple but powerful service based on best-in-class
SAP technology Powered by SAP NetWeaver in conjunction with business process
For more information
on Crossgate contact, Steve Sprague Steve.Sprague@crossgategroup.com