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Case Study – Implementation & Electronic Invoicing
Abstract
| Client |
Brewer and Theme Park Operator |
| Annual Spend |
£500,000 + Annually |
The world’s largest Brewer and Theme Park Operator wanted to move
to electronic invoicing, but its current subscription provider could
not handle the company’s 20-digit cost code. In addition, the Company
wanted to phase-out its own internally supported software program that
it had running parallel to the current subscription provider’s system.
It was decided to upload the subscriber data electronically, which
eliminated unnecessary errors associated with re-keying pertinent
information. The previous subscription provider’s data was not
accurate enough to rely upon and the decision was made to verify
the publisher’s account number and the accurate expiration date of
virtually every subscription.
The result of the subscription cleaning was that the company saved
$30,000+ in year one alone.
Prenax Online was successfully launched and Prenax satisfied all of
the Company’s goals in terms of electronic invoicing and producing a
system that worked well with the Company’s internal systems. The
Company was able to discontinue running its own parallel system and
saved money by not having to utilise or support the internal software
application.
Prenax, please send me the full version
Claims Reduction Case Study
Abstract
| Client |
Media Tracking Company |
| Annual Spend |
$250,000+ Annually |
The company orders and receives well over 1000 subscriptions per year. Since
the company scans advertisements contained in the subscriptions into their
database, it is critical that every issue arrives on time.
The company tried handing their subscription management internally and then
through one of Prenax’s competitors, both producing poor results.
Prenax reconciled all of the subscription data held on the databases of both
the client and the publishers and created a list of problem publishers.
Prenax helped the Media Tracking reach an unprecedented 96% success rate for
issues received – leaving only 4% to claim as missing for redelivery.
Previous to Prenax’s intervention, the Company regularly counted 84% issues
received – leaving 16% to claim as missing for redelivery.
Prenax, please send me the full version
Capture and control of decentralised spend
Abstract
| Client |
International investment and retail banking group |
| Challenge |
Cut costs by centralizing procurement |
The client is one of the world’s leading financial organizations and employs over
60,000 people. The group is made up of 34 companies.
Each company within the group had its own subscription procurement procedures;
there was no central procurement process or department. Prenax committed to
saving them 10% on their overall spend by the end of the first year.
The subscription data was collated on a master list within the BANK X Prenax
Online account. All new orders were placed and therefore captured through this
account. All subs currently running direct with the publisher were placed onto
Prenax Online as proposed orders and when they came up for renewal they could be
approved or denied as required.
Simply by consolidating the procurement of subscriptions through Prenax, the client
was able to cut their hard costs by 10%. This came from the elimination of wastage
and the renegotiation of centralized bulk-purchasing licenses and contracts.
Prenax also took care of all the administration involved: ordering, claiming,
canceling, renewing, which allowed employees to concentrate on their core roles.
Prenax, please send me the full version
Case Study - E-procurement roll-out case study
Abstract
| Client |
International investment bank |
| Challenge |
Ariba integration and roll-out |
Prenax was asked to integrate our systems with the e-procurement platform ARIBA.
The client employs nearly 55,000 people in 28 countries. Before engaging Prenax
as their subscription agent, Company M was using another agent to manage the bulk
of the subscription, book and newspaper spend. They were also dealing with some
publishers direct, which allowed them to negotiate bulk discounts on some
expensive titles. Newspapers were being delivered by a local newsagent and
books were ordered direct through local book shops.
By using multiple suppliers they were unable to compile accurate reports on
their spend and were having to find time to process multiple invoices on a
monthly basis.
As a subscription is not a one-off purchase but a rolling contract, the Prenax
software development team had to build in additional functionality in order to
allow end-users or their administrators to renew their subscriptions.
By choosing Prenax as their subscription agency, Company M were able to keep the
discounts they negotiated with some of their key publishers. The client moved
their subscription buying functionality away from a centralized library model
to a decentralized end-user model. The total Subscription spend was centralized
and controlled through the in depth reporting functionality within ARIBA.
Prenax, please send me the full version
Case Study - Outsourcing and contracts management
Abstract
| Client |
International banking group |
| Challenge |
To implement and managed outsourced BIS functions |
The group has $1.5 trillion in assets, 65,000 employees worldwide and a
presence in 74 countries.
Before Prenax the Bank was using many suppliers.
Prenax branded all software interfaces with the bank’s look and feel. All
subscription-related business was outsourced to Prenax. On-site and off-site
staff were used, and remote IT access and telephony systems were developed.
Prenax was given complete inventories for all suppliers that included the
recipients’ identities, their cost centers, locations and expiry dates if
known. A whole organizational map was built into the bank’s online account
affording superb functionality and reporting. Prenax uncovered savings
equivalent to 20% of the spend through the culling of wastage.
The bank also outsourced to Prenax the management of all forms of information -
from large site-licenses to electronic media. By outsourcing their internal
subscriptions function to Prenax, the bank was able to realize cost savings by
reducing their manpower and making the procurement process electronic and
therefore more efficient.
Prenax, please send me the full version
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