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Case Study – Implementation & Electronic Invoicing
Abstract
| Client |
Brewer and Theme Park Operator |
| Annual Spend |
£250,000 + 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
£15,000+ 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 |
£130,000+ 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 centralising procurement |
The client is one of the world’s leading financial organisations 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, cancelling, 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 centralised
library model to a decentralised end-user model. The total Subscription spend
was centralised 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 centres, locations and expiry dates if
known. A whole organisational 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
realise 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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