Digital Transformation in Procurement and AP

uh thou tend to introduce our speakers today we have Chris Suresh from Bristlecone Trish is a global practice leader of procurement at Bristlecone he has over 25 years of industry and Consulting experience and procurement engineering analytics I.T Consulting and implementation of procurement Solutions we also have with us Mike Judd from trade shift Mike is the senior director of product marketing at tradeshift he has a long history with procurement and Financial Solutions and working with customers on breast best practices with that said I will hand it over to Mike Mike it is all yours the end thank you um interesting how you said long history and procurement it certainly has been um welcome everybody thank you for joining our webinar today Chris and I are very excited to talk about using digital transformation to create value uh and unlock working capital in your supply chain so big title certainly lots to talk about so we're excited to talk to you about this today um just by way of agenda what we like to do is um first of all Define digital transformation uh that means many things to many people so that'll make sure we're on the same page when we Define that so we want to describe what does that look like and how do you know when you get there and certainly how do you know when you're done uh if you're ever done with that right um so then we'll go back a little bit and it's certainly going to be a journey for you so we know we want to start with fixing what's broken let's talk about the good starting points what's broken and where do we start and then sellers will be very big part of your uh success so we want to talk about how to get better seller participation to really accelerate the value and get you to do something um as we described in the topic of Google transformation and then let's talk about when the humans get involved you know how do we get more exception free AP um how do you get more sellers how do you do more invoice processing but how do you do it without so many people get involved all the time right so how can we reduce that and last again we'll revisit come back to what we call the Adaptive Enterprise um that's one that we feel has reached digital transformation so we'll talk about what that means and that'll bring us full circle uh through our story here so let's start with uh digital transformation you know what is it and it's a question mark here because it does mean a lot of different things to many people and some people on the call maybe I'm not a thought of a digital transformation program yet right so maybe this is a question mark for your future even um but certainly a lot of question with digital transformation but we already have a good taste for it now think of your daily life and I'm sure all of you have a smartphone um and maybe some are using it right this moment so I hope not um but certainly we know we're very powerful at home um you know we can get uh cars to come to our driveway and we know when that car is going to arrive and we know we're going to get to the airport on time for instance uh we know when food's gonna arrive in fact you get the you can get custom food delivered to your doorstep right this is the power that we have with our apps today we can move the physical world right pretty quickly and make life convenient for us so we talk about a digital experience there this is something that you know we're very powerful helpful and make things move faster so it's connected right we're connected to the things out there to moving cars to people that are going to drive into the airport it's very convenient uh and the third thing is in context so if I'm thinking about food I'm gonna get the food delivery if I need a ride to the airport there's something there that gets me a car and until they attract that uh attract that car to my driveway on time so so that's where we talk about the digital experience very connected very convenient and in context depending on the actual use we recognize these logos right here right this is um some very powerful apps that we have at home but yet at work very different story and that's why we're on the call today right that in some cases we can't get a status of an invoice suppliers are calling up saying hey when am I going to get paid because they don't have that experience right we don't know when our order is going to arrive these are things that we don't know who's going to approve our next uh requisition so we don't know these things we don't have that same main power at work you really get to be more powerful at work well here's part of our journey right here if you recognize the logos in the top right and most of you can do in my work life these are some very new up and coming apps uh I'm probably not enough coming already there right yeah they make lights easier on the sales side the HR side and doing collaboration um so we think of these as more adaptive and collaborative apps right they're they're outcome based visualization basically you want to do something you want to move the physical world so you're driving more of those outcomes how do I get that Uber driver to drive it my driveway in time for me to get to the airport those are the outcomes and then the power to drive that is what's behind these apps right if you look at the starting point I think this is where a lot of people are today um on the control reactive on the bottom left-hand side looking very much at process very process oriented right how do I get the invoices to move faster how do I get rid of these stacks of paper uh you know how to become more electronic right so they're kind of focused more on the kind of the process side of it rather than the outcomes so what we want to point you to today is something that looks very much uh like the top right where we can describe something that's very outcome based and it's adaptive and collaborative so with that on the next slide we make the distinction and we'll do this several times throughout the presentation electronic versus digital so on the right hand side this is kind of the price I'll start there on the right hand side we talked about that digital experience that you have at home right you're moving the physical world you have status you have visibility you're connected in real time that's what you're getting on the right hand side but I think most people when we look at the processes and the ways people want to deal with those process efficiencies is more the left hand side sure that left hand side can keep you up to date the electronics you're going to know it's 10 58 on a Sunday right but you're on a plane moving three time zones and you land on the left-hand side what do I have to do I have to hit the buttons to readjust the time on the right hand side as soon as I get it out of airplane mode it already knows that I'm in a specific time zone here's the time and by the way I've adjusted your calendar for that three o'clock meeting is really 12 o'clock based on the time change so that's what we're going to talk about today that experience on the right hand side versus making things electronic on the left and of course you had some great comments on this slide right right so thanks uh Mike I I and I think you know the the um the the primary point that I wanted to make is you know today in the business world even even though there is some amount of digitization that happens right I mean it's very uh limited uh so if you I you know just to put it in context of invoice uh invoices in AP right I mean uh people are able to uh just using service procurement for example right uh people are able to go ahead and separate uh are not able to submit uh server Sentry sheets uh using using um any kind of mobile applications but you you would be able to approve anything that comes with so I you know what we're saying is you know while while we are still in in the in the b2c space you've gone a long way ahead whereas the B2B space even though there is some digitization it still is kind of very very very primitive stages if you will so in the business world will look more like the picture shows on the left the watches on the left and we want to try and move more and more towards the ice iPhone and the experience that we have in the b2c space and I think uh you'll see in subsequences uh you know how we take you from the left side to the right yeah exactly right because you're describing um kind of the electronic side of it versus digital right like an electronic world was around we passed the documents we pass invoices around right but as soon as something changes that invoice is out of date but it's already gone to the next system right you're already processing uh that won't match an invoice so electronic just moves things around a lot quicker but you don't get that digital experience on the right hand side like an Uber where I know exactly where my car is at this particular moment so yeah exactly right yeah all right so what we like to paint through the rest of the day is look at um digital transformation as that top right corner something that's adaptive and collaborative you know how do I collaborate with the folks on my Uber driver I don't mean to overuse that but I think most people are aware of uh kind of that metaphor um but sorry it's that kind of collaboration and if we know I'm not going to get to the airport in time you know how can I be adapted how can maybe find an alternate Transportation uh maybe it means a different app uh Uber versus Lyft for example so it's that kind of visibility that makes me powerful and again we want to get to that same kind of power at work but now the good news everything will be apps everything will be networked right um now we made this statement for a couple reasons one is there's a lot of power in a network so I think about the days this is um dating myself a little bit but on the left-hand side under the 90s there just think about a photograph uh you know so it's a photograph it's electronic copy of a photograph my family wants to see uh the kids of course so what I used to do is email the photos out to all the family members and then somebody was always left out I'm like oh sorry and I have to include their email address right um and then what happens too is that somebody changes their email and I have to update my contact list probably at that time I was thinking between a Palm Pilot and emails and all sorts of stuff so I was moving a lot of data around and definitely a lot of Maintenance just to get to a point-to-point connection where I can move the photos to my family so then in the 2000s what's happening is you had or what happened is you had those portals right um You had the flickers the Yahoo's photos you had the Google photos of the world and I said well let me just upload all my photos to an album and then you go look at it okay um now the problem there's a couple problems there right first of all my family used to go visit with several different portals there's my portal there's my twin brothers portal there was maybe a softball portal everybody seemed to have a portal to go to right so for my family to keep up with photos it was pretty difficult and for me too I didn't want to do this all the time so maybe I waited for like a month got about 60 pictures and I uploaded it so it's not real time so now you see where I'm going on the right hand side of the network you can see what you know by way of what happens today you know we're looking at now real time you know real-time interaction real-time photos so when somebody um you know does something funny or pretty cool you take a photo of it post it immediately and right away people are thumbs up or passing it on is like oh is that that looks cool how did they do that you know so there's a lot of interaction right away in real time on the right hand side so we think that um businesses are going to go to the network really for this kind of speed and connection the other half of that too is the app side of it so just like your phone you have access to a network whether it be Sprint T-Mobile Verizon whatever it is you have access to anybody in the world electronically potentially um and so you can make those connections um basically do that through your apps I don't know if people are aware of it but actually I know my kids don't know but there's actually a phone app where you can call people um so I'm going to communicate right um and there's LinkedIn right if I want to reach the business um my business context I'll use LinkedIn and then if I want to do a personal contacts then maybe it's Instagram or something like that so the apps Define how we work with the network who we're going to to Target who we're going to connect with um really the apps helps us to find that so we have business contacts we have a certain contents whatever it is the apps help us to connect to the right Network for that particular situation again real time right so so Mike uh you know a couple of things I mean it's it's a it's a little bit of an overused term but I mean it's uh you know you you've heard the term there's an app for it that's actually very true right people used to say that as a joke but uh but uh today you have apps for virtually anything and everything that you want on the on the on the consumer side whereas in the business side of things you know you it's it's still kind of very nicest and I think uh you know you know from a software development perspective from an adoption perspective apps are really going to be the ones to drive the uh the uh the uh expedition of of all of these functionality that we don't need individuals to be provided I think this is very very critical this is what drove a lot of the uh growth for example that Salesforce had and I think uh it is it behooves us to start looking at apps as a way to grow faster yeah yeah and that's actually the second part of the slide here on marketplaces if we think of these roll seller buyer and partners armed with apps you know then they can make these Connections in real time uh you can connect to the right partner the right seller the right buyer and then everybody's phone's different right so basically I can have the apps that I like to use that I um you know I really enjoy using I think it's just the way I do things so I have my own way of working the process too so if you think of a Marketplace or individuals are armed with their their smartphone there their own apps you can really engage in some real-time Commerce uh when that uh when that Marketplace really hits and grows so that's a good segue into into you know I'll use the example of Pinterest right so they uh they have uh you know I'm assuming everybody knows what Pinter says it's this it's this uh solution where you go in and you like something you uh you put a pin on it which will basically create a a digital album for you uh you know they it grew pretty quickly but they were trying to figure out how do you how do you kind of go ahead and monetize this so from um the Pinterest app came up with something called lens which effectively provided you the ability to say okay I've got something that I like maybe it's a try it's a vacation spot now using the lens product uh you could you could go in and then it'll direct you to travel agencies which will take you there or if you if you like uh if you like a headset and you could go in and use the lens product it drives you to Amazon or one of the one of the other e-commerce sites where you could go in and buy it so so these apps not only you know it is also helping uh you know the the growth of Commerce uh and you know something that can be uh you can use the same kind of functionality for other things like AP itself that we will talk about yeah yeah and that's actually what we're going to get to so thanks for that segue to the next slide I mean we want to um start talking about the how is a network and apps fit into digital transformation right that's the the thing we said we were going to Define right so we want to make sure that you see through the rest of the presentation think about the network power and the apps power that you have now how do we apply that to a digital transformation um was this something recently we found I thought was very interesting um 31 of AP think they're done with digital transformation I thought it was interesting so I thought we should Define it right because what I think is happening there is they're thinking about the process side of it they probably digitize or electronified a lot of things um but I don't think they're taking along the lines of the right hand side um in fact I haven't seen a company yet that's really achieved um 100 on all 10 of these levers on the right hand side so kind of want to postulate to this um audience and you're certainly welcome to put in questions and comments but um we think an Adaptive Enterprise will achieve these 10 levers in the future so you'll know you'll get there when your manual processes give way to automation I think most people agree with that which is why I put that at the top um but now we're looking at more network data and insights so it's not just how I put like data in front of the right role but how do I put it live partners that might be interested in customer data I might be Sellers and sellers were interested in my customers and what their needs are so how do I get to that network data effect and give people the insights even the stakeholders the insights that they need we're gonna have roles that are more specialized and creative so less if you're if you're doing more automated maybe you know that are more specialized in these creative things now it's working on strategic you're going to see um and we're going to talk about this more throughout the presentation but in network physical and financial supply chain right so we know we can move the physical world we know we move the financial world but can these two you know I shouldn't say get along but can we Network these um Supply chains and get some extra benefit and that's actually the title so we know the answer is yes so uh we'll talk about that more as we move through how financial and the physical Supply chains really connect and if you think of your technology so we talked about Chris mentioned that uh scenario where we're connecting all the different solutions to your electronic and moving data around to the different solutions but how do you think about it as your solution is more of a platform your phone is a platform right it's reusing your content it's using things like the microphone on your on your platform right so how do you get to that where your your systems and processes are using the same components the same data um we talk about apps in the power of apps so this is a way of introducing new people to your processes new stakeholders new partners new users even um not one no one provider can deliver everything uh and you probably I again introduced me as some tradeships so you probably know that you know we'll sell your solution of course but we know we can't deliver everything so we rely on on partners with apps to help us make delivery and that's why Bristol cones with us today digital Exchange Management I'll go ahead no no I I was going to say you know I mean um you know when we talk about 31 percent think that they are done what um it would be interesting to hear what uh what the 31 percent have done right I mean a lot of people think that you know when you go when it comes to digitization of AP uh having um you know uh integration with the carbon and having some kind of OCR Solutions will uh is is really what needs to happen from from a digitization standpoint and once they get there they think it's done I think what we are saying is there's a lot more to be done uh truly in our uh in our mind if you go through and you implement all of these levels and I think we talk about this as a truly touchless safe resources and that's that's where we want people to be driving towards exactly so Chris I'm glad you stopped me because I was going to go through the rest of the list but I think you get the point to Trisha's point right there it's a it's a very different um thing on the right hand side than I think we're used to so that's I think that's why we need to make the distinction you're probably focused more on the process side of things um rather than the outcome base so having known that let's look at the uh moving forward what is this adaptive Enterprise so we've defined it at the top there right that's the prize we want to get there and we know there's a journey to there right if you know today you can't start and it's automatically being strategic um and get rid of all your applications of course you know that's not going to happen right so there's certainly a starting point um to fix what's broken right so there's things that you recognize and you're aware of we'll talk about that in the next section but there's things that you know you want to fix today right um but know that um if you set yourself up right the base of the pyramid here then becomes a base for your operational Advantage you know how do we become more or more straight um less manual work because that's often what that one looks like right and then we can start reducing that manual work then we can focus really on the Strategic one of the last um points on the Adaptive Enterprise is you now have an organization that's not back office but now literally directly involved with the customer right customer needs something now you have a group rallied behind it that can help you deliver to that customer so take for example a custom Solution customer service you now have people that know Sellers and and people in your ecosystem that you can then rally in real time to make sure that you can deliver for that customer so that's the kind of thing we're looking at the top we talk about strategic advantage and adaptive advice so that's how we want to take you through today fixing this broken operational and strategic from the AP perspective so for us it looks something like this we've kind of mapped out um kind of a step up the uh the value ladder where we talk about how do you reach the Adaptive Enterprise well it starts with a digital base um you could do a lot with a long tail spin right get it invoices out why is your AP processing a thousand one-line invoices when they get in the process a thousand lines on a single credit card statement easier to reconcile uh and you don't have to do all these one-offs so certainly let's let's get a lot of the work out and let's start making things digital so that's the next level digital AP let's set up the organization for 100 digital transactions and then today we're going to talk about the working capital relationship to it so there's Downstream to AP right there's there's processes down there that um we're using cash and what might be trying to save cash how can we take advantage of that get some benefit and possibly self-fund a digital AP program and then we'll talk about exception free AP where we're going to drive off a lot more that manual stuff that you end up doing how do we get more straight through processing because you know ultimately it's going to help us save working capital again and we've just created more money there uh and as Chris said eventually we get to a state of zero AP where the the machines are doing the work right you don't have to touch a lot of things it's very um very strategic at this point we're not touching things so we Define that as zero AP um and then that's your adaptive Enterprise so with that um take a quick breath and just uh turn it over to fiction was broken okay so we're starting at the um we're gonna start the business ladder or the value ladder sees me and we put these challenges up because most people recognize these challenges this is to fix what's broken right so we know that people are saying I'm not getting on boarding rates I wanted suppliers aren't participating I have a lot of uh extra work that we're doing too much paper takes too long okay we hear these and we know all the solution providers hear the same thing um and so we know these are problems right we're not we're not refuting that but we think the focus should be more on what is really the problem here okay so what we see is the organization looking a lot like the left-hand side you have Upstream procurement in their Silo and by the way they're throwing 10 to 16 systems at their processes to make that Silo go faster accounts payable the same thing we're putting 10 to 15 systems into accounts payable make that go quicker and then treasury the downstream process making the payments also probably have a few systems of their own um and the seller's a little bit disconnected now we hear the argument a lot well we're integrated um but to krisha's point before uh you know that's an electronic document moving around all right and we know that's a problem because if you look on the right hand side you still see issues even with best-in-class organizations that have systems that have integration because what's ultimately happening is you have procurement that's giving you an order right that could possibly be added have the long pricing uh or have wrong information on that order so when the invoice comes in it doesn't match right now you can argue wow we're integrated you know we've got the uh but that order didn't match the invoice right so basically we're moving a lot of electronics around so we still see problems on the um as you can see on the right hand side uh even though we're integrated even though we have all these systems in place even though we're process efficient and from a fasting class perspective we still see 23 invoice exception rates you still only have 25 of our sellers that are sending us electronic invoices and last but not least because we want to get into a working capital conversation too we're only seeing 19 of early payment opportunities right because of this disconnect from the inside so what we'd like to then present to you today is talk more about you don't really you don't have invoice challenges although I see what the problems you're having think about it now that you have Network challenges because I think you understand so so Mike I'll just make one point I I think you've kind of uh you alluded to this but the the stats that are being provided on the right side which is you know only 25 percent of uh uh electronic invoices are coming from supplies and 19 this is supposed this is actually Best in Class companies right so you can imagine that uh if you're not investor class you you know the numbers are even smaller than that that is a whole lot of opportunity here to improve working capital and and a whole lot of improvements that we can get by moving to some of these Network apps that we're talking about and leveraging the power of networks to actually um you know help with a process efficiency also so um I just want to make sure that that point is highlighted yeah no thank you thank you I'm glad you said that because I mean with with so many solutions and and if you just power the silos on the left-hand side you know Best in Class is probably the best you're going to do um and if you look on the right hand side it's you know that's still not good enough so you know bringing our our Network and app story forward as we talked about before we really want to see your organizations networked right and what's happening in a network situation is that you have shared documents information and processes so instead of moving data around from point-to-point solution to solution person to person what you do is you have shared information so as soon as an order changes people that need to know are aware of it seller sees it procurement knows about it the person that ordered it you'll be able to see that um maybe AP would have some visibility into it knowing that the invoice came in as it usually does with the usual pricing it's going to be out of out of sync so then that's that's the kind of shared environment that we're talking about just like your apps when you know your Uber is going to arrive to your door you know when something's going to change you can be agile you could be collaborative and you can you can even raise your hand and say hey what's going on here um so that's the the kind of environment we're talking about that Network and apps really in effect now to change the way you do your business the outcome based digitalization so that means real-time collaboration so just today if you know I know one day my son was going to be late for his baseball game we had to try and get a ride with the neighbors let the coach know um happened in a matter of 30 seconds be notified everybody that needed to know uh or I could get my son to baseball practice so that's the real-time collaboration and power that you have to make sure that you know people are aware people can help you out um it can be agile and collaborative which means digital has to be the default um that's the quickest way I know to move information um and document information and processes throughout a network uh if digital is the fastest way to go for visibility and for moving things forward so that's why we should visuals with the default so if we could set up that default and make sure that um you know you have the foundation in place then everything really just builds off that off that digital so with that we want you to connect your sellers on a digital Network I think there's one of the benefits all the benefits we talked about uh which means reducing um reduce your seller support and AP work and create the foundation for 100 digital transactions and what that looks like um hit the wrong button sorry um and what that letter looks like if you set up a foundation of digital there's a lot of things that are happening I don't think people realize this but there's a you know it's not just the POS and invoices moving digitally but you're really capturing the data first and foremost with the fire onboarding so with one and two once that supplier is on board you're accelerating the content that you have access to and that's the supplier Master data for one thing there's also product data that you have from the sellers the pricing all this stuff now accelerates and moves in real time on the network um you can even use in three you can use Partners to enrich that data you can know if a seller is sustainable will help your sustainability programs for instance or help minority own business programs whatever you have so you can enrich that supplier data with information from Partners on the network so let me let me let me if I can add one thing Mike right so I uh I I uh run large uh P2P organization in my past careers and one of the big challenges that we had was keeping the supply Master data that uh that Mike's alluding to uh what kind of certification do you have um you know I have are there certain um uh you know specific uh validations that you need to do all of this would take us hours and weeks to Canada right by having this kind of a network solution it it one puts the owners on the on the supplies and then two it's just dramatically improves their ability to um to have correct data in a very very accelerated manner so yeah you know I think this is this is critical I want to re-emphasize that you know Supply Master data is one of the hardest things to try back and just this allows us an option of this provides this ability to do that yeah yeah and it's certainly a foundation right there's a lot of business processes that seller data who are you going to pay are you going to sit in the order to you know so we know that we need that Master data it needs to be correct um because you certainly don't want to send the payment on an invoice to an incorrect bank account or address or anything like that so we want to make sure that all that data is correct verified enriched if you want to and then available to any process that needs it again using this phone analogy when you put on new app on your phone doesn't ask you if you want to use your contacts I think that's pretty cool yep use my contacts and it's basically you're up and running and using that app so same premise on a platform new supply chain processes can use the data that's already in place so that's the speed that you're getting and right and Global this is really about the reach here that uh on a Network Global uh I'm sorry networking certainly reach Global uh you have that kind of access uh in a digital uh and a digital Network you can reach the globe but the impression uh what what do I really want to press here is really about that compliance and um uh for tax and invoicing purposes that really the network can take care of it the network knows the rules right there's certain rules that everybody must follow to do even voicing in China for example the platform's gonna know the rules in fact if they change the platform would take care of that so basically you could rely on the platform to achieve your Global reach but also know that you're complying to those e-invoicing and tax rules and that's really when the collaboration on the last one really starts kicking in right as soon as you have a supplier that's engaged uh working with you their shared information even at this level um your collaboration really happens and we've seen that quite a bit where suppliers are contributing new parts um new processes that are helping process efficiency but also the final product that is cheaper to deliver to the customer so that's um you know so even at a base level we talked about that digital AP run of the ladder a lot of benefits in getting this foundation in place and I just I quickly want to take you through one use case that we've seen I think it's very powerful where a company that's on the level of multinational consumer Products Company came to us and said you know we simply just want to reduce the phone calls he said yeah but there's a networking apps like no no you're not listening we just want to reduce the phone calls all right you can do that she starts this network and you can see on the stat on the right top 5 000 suppliers activated the less than four weeks uh that means they had visibility into when they were going to get paid so um over time is the number of sellers increased we've seen the first phase up to 19 000. uh they're able to reduce the call centers because um because they weren't getting calls anymore they said go onto the network go see um your status there in fact you're gonna know when I know when you're gonna get paid so just go under the network and view it there stop calling me so they're able to close the call centers based on that um and the interesting thing was then how that built from there so 19 000 suppliers on board well let's start e-invoicing let's go to different countries um so this will segue nicely into the next um part of the presentation we talk about some of the working capital benefits what they wanted to do is introduce early payment given that they had the network in place and start seeing now um you know being able to then extend DPO base payable outstanding you know not pay the bills right away but wait a little bit um but do that with that in a way that's not going to hurt the Stellar relationship right or maybe I could use my cash to um you know to get some discount there so that's the next level for them so great segue into the next part of the conversation where we talk about what is the working capital benefit but we've kind of word a little bit differently because this is really about the seller getting value at this point so how do you get a seller to adopt so one of the challenges that we said before is my sellers aren't participating um and you know we can't get them on board quick enough so what happens if you start adding value to that relationship that they can get paid much quicker so we're talking about early payment opportunities here so there's value to that seller to join the network and say yeah you know if I need the cash you know I like to make that known and see if I can get that cash as early as possible so in the next part of our presentation here what we'd like to talk about is really how do you get to that um that seller value so the benefit of a network is actually many so a network drives the value for both buyers and sellers so we talk about the working capital benefit on the buyer side and a seller that needs cash can certainly access the cash if they need it it's an option they don't have to but they cannot access that um but we can do this for all your sellers and why because on a network you can have all the parties involved you have buyers of course right you have sellers that could say hey I need that opportunity and then you have a financial institutions that are part of your network that could say you know what I can offer a sleep feel at this point in time um based on the situation based on the market all right so there's um kind of a lot of different people at play that can give the right benefit to all parties buyers get to work in capital Banks get a new opportunity for financing or any financial institution to do that so students get the benefit of early payments so we look at the opportunity of something like this on the right hand side and this is really the buyer us talking to a buyer and saying this is the benefit so we know there's benefit to AP automation right we know that you're going to um see the benefit when um the digital starts to kick in and you're automating your AP processes but on top of that you could see a 2X return from early payments from supply chain financing where you're seeing um you're not having to pay your bills right away you can use the your cash today's table outstanding use your own cash or dynamic discounting if you use your cash right away you're going to do better than money market rates so that's where the 2x is coming from now know that on the left hand side this is very important right you have to then get the left hand side right in order for the right hand side to really uh work so that means on the left hand side we have to then provide um the invoices fast enough so through the invoices as quick as we can um and we have to then um that's going to provide the extra return so if we get the left hand side right and get the invoices done quick enough we developed the opportunities on the right hand side in order to make um that ux return work for you so basically you'll hear me refer to this kind of throughout the presentation from now on as we just built an engine of cash right so let's let's see this as much as possible so again Mike I'd like to bring in the whole uh overlay the concept of networks over here right I mean so when you don't have a network solution uh or where you have multiple uh you know Partners in the network right so you have vendors you have uh your AP organizations you are banked you need all of these to get to truly leverage the supply chain financing component of it it's in a non-network solution you're not going to have the ability to do separated financing from external parties like like Banks that's that's a very very powerful uh you know benefit of having a network solution yeah yeah in fact um let's talk about the network and the platform again we talked about apps um let me just build this out but the reason you have value to all your sellers is you have many opportunities available to you some of these you kind of maybe heard my words um recognize that in some cases you'll need financial institutions in some cases it's your own um your own cash right your own uh Treasury and we have the cash available and we can use it as an opportunity um so the benefit of the network is really having that visibility to what are the opportunities um who has the best opportunity and how do we take advantage of it so basically that's a long way of saying that there's value to all your sellers different programs meet different years of sellers um but also you can be flexible about what um what option you use based on your current situation do we have a lot of cash at the moment let's let's use our own cash then and get some returns so basically we can provide benefit to all sellers in think about Network right and many many companies are saying you know I'm connected to 55 of my sellers it's just actually a pretty good rate if you think about it I don't think many have achieved 55 but I think that was a statistic I saw recently so 55 of my sellers are connected electronically and people often say well isn't that good enough so I really need the other 45 and one of the answers to that is really around this that aren't you missing some of those opportunities for early payment by not capturing that 45 all right isn't that 45 probably the ones that need the cash the most and they're willing to pay more maybe um or maybe do it more often um so think about that what's in that 45 maybe it's those that are really need the cash and can really again feed more money into your engine or more invoices I should say into your engine of cash so yeah we um I I I I I I think you're making the point and the uh on the x-axis and the right side right the long curve uh the long tail Supply I I think I've seen way too many organizations to say okay let's say you say 80 20 rule let's take the big ones uh and then not worry about the long tail and I think uh I think that's fine from a from a strategy as to who you onboard first but I think it's important to realize that's a long tail sometimes um you know contributes a lot in terms of uh our uh our expenses and you know there is a a definite opportunity there using uh you know the dynamic discounting and separating Finance uh options to tap into all of that also and I think I think people have to start thinking about that as a long-term strategy yeah yeah and coming back to the statistic on this slide if you remember when we showed the the silent organization and one of the statistics we showed was Best in Class getting about 19 of early payment opportunities um and now we're coming back to that revisiting it and showing you how would a network then increase those opportunities uh it does it on two levels and in fact there's actually a third but um I'll mention that in a second but let's just take the two because it's easier to draw on a slide one of the ways is more supplier participation right so now more suppliers are electronically connected to you more have access to that so they're able to then make themselves known and say hey I would love to have this early payment opportunity because I really need that cash for payroll or whatever that is all right the second access is faster invoice processing so that time is money so the point here is that the sooner you can process an invoice the more likely you're going to get a bigger return so I always use the 90-day example where if you can prove an invoice in a day so I was going to like ooh I have to wait 89 days to get paid yeah I'll take an early payment opportunity right now versus the other scenarios you process an invoice in 89 days and the seller's gonna say wow I get paid tomorrow uh zero percent for you so the time is money right the sooner you get these invoice processes the higher the return so there's two things that work here more participation from your sellers and more higher returns from the fast invoice processing and the third one I said I was going to mention is also the banks are involved now any financial institution uh is networked into this process right um that you allow of course so they can also help and um you know say I can give you an opportunity at the moment if you don't have the cash so they have access and view and can offer the opportunities that maybe weren't offered before so that's the power of a network again for the working capital benefit so knowing that we want higher seller participation and faster invoice processing leads us one of our most challenging invoice processes of all uh and that's really where the manual workflows kick in uh the coding and the approvals I hear so many times that folks are saying like we have too many manual processes our workflows are too slow our cycle plans are too slow um so if we want to create that engine of money again where we have more invoices in involved and faster invoice uh approvals where we get the higher returns this is really going to be a challenging area for you right so we certainly want the goal of being more straight through processing so today what we like to talk about is you know really how do you automate invoice processing for more straight through processing so where do we get the benefit of the automation we talked about that's part of the Adaptive Enterprise manual gives way to automated right um but we know right there's going to be manual so where manual is needed how do we get the fewest touches how do we get that work item that's being floated around how do we get that back to the critical path as quick as possible so that's really what this is about in just a couple slides um the network again working to help out to um the networking platform and the apps helping out to get you straight through processing so certainly um when you have all the Digital Data in play and you start getting processes uh flowing through in a digital fashion you have access to not only data but really how that data is being used do you know for a certain seller it always comes in in this particular way um so when I approve it every single time all right or how do we why have somebody code it when it was coded three times before so this is where the machine starts coming in and learning to do the work this is how manual gives way to automation that we can have not only um The Machine's doing the work for us but they can also suggest which is part of the second part here so when the people do get involved well how do we make that go quicker well we could suggest the right person right we know the last time it came in or we know who's the category manager for this particular seller we know these things why can't we get it routed to the right person based on the situation in history so even where the humans are involved not only do we have the uh benefit of the machine learning making suggestions and not maybe doing the work for us but we have this real-time collaboration too again like uh I I overuse my Uber example but you know when that person's not arriving on time you can certainly text them and call them um or just look at the map on your phone and know when it's going to arrives so it's that real-time effect that puts people at ease but also enables them to be more agile and adapt to whatever the new situation presents so that's really what um you know we want to impressed what a network can apps do to make that um uh to make life go better for the exception pre-processing so um kind of round that out with some results that we've seen um and then we'll talk about the Adaptive Enterprise we'll pick that back up again um but certainly some results along the lines that we talked about um Global food processing and commodities company 22 days shorter invoice processing time that certainly gives them the benefit of more uh and better working capital situations higher rates of returns um in fact they have a 24 higher discount capture rate so it's not 24 percent or higher it sounds absolutely um somebody with a healthcare shared service 100 reduction in those calls we talked about that's the benefit digital AP that they're not getting all those queries and phone calls where's my invoice uh where am I going to get paid I mean um because they know when we know uh when they're going to get paid so why call me you might as well just check it yourself um and with that uh digital 50 faster invoice processing Cycles so we don't have the code on the right too just uh again another uh result for you here number key invoices has grown by over 500 resulting in 75 percent no touch rate and 80 88 savings um so the 75 no touch rate is certainly a great thing to have achieved but you know I'll bet that he won't say he's done with digital transformation just yet uh you know there's certainly more to go that's definitely uh you know fell on your way to something that's more automated versus uh doing all that manual work so that's just pretty expensive it's fast for uh for them so we'll do it we'll take uh just about five more minutes um for the Adaptive Enterprise and open up for questions so please uh have those questions ready and um you can put those in the chat on a I think it's on the right hand side it is on mine so go and start feeding those questions we'll take those in about five minutes but let's come back to the Adaptive Enterprise um you remember this was something that uh is an Adaptive and collaborative um uh digital transformation you know we want you to have the power of the apps that you have at home you want you have that power at work too but it also has to be your own so if you think of the Adaptive Enterprise I mean it's really about your business so how do you make it your own how do you how does it become your partners your processes physically connected on a Global Network um because that leads to the supply chains that are more agile efficient and differentiated so everybody's adaptive Enterprise and the path to there is going to be different um and this is really where I just want to talk about trade shift in a couple slides um what we're about is the apps and the network um the apps is the common platform for the Adaptive Enterprise to connect and collaborate supply chain so just like today you have that digital experience on your phone with the apps it's that same thing that we want to bring to the to the business list right if you have that way of being digitally active and connected to your partners um and in fact you can digitally ensure new processes as apps at any point in the processes right you can say I want to work with this particular partner for this particular process why because they're the experts um so just to let you kind of know what that looks like it might look like something like this where the um because of the different partners and processes that you have and you run and that you want to work with your AP process might be uh some different partners that you want to engage for different points in time so call fast for example and freedom verify supplier data to make sure um you're working with the right data and the right sellers we have some sensibility and ways to create some very specific processes around direct materials and creation uh you might work with specific um AI tools or I'm sorry um bi tool excuse me and then certainly you want to work with banks and uh financial institutions that you want to work with so this is just to kind of point out that it's really your partners your processes so you can build your process the way you need to uh that fits your particular needs to be important to talk about the of the apps and Partnerships that you have from a logistics standpoint I think that's another area uh where I think there's a lot of uh um you know blind spots if you will at this point in time and I I know that that there are you are particularly strong in that space right yeah yeah in fact I mean it's uh it's not necessarily Partners we work with too but partners that you want to work with um so a lot of these uh a lot of these logos came to play because someone said I want to work with this particular partner and we said yeah okay let's do that um and in fact um you know so we could we could do that as well so basically we just one once you be able to create your own processes and but create that digital experience which is about to um last slide that I'll do and I'll turn into Krish but really I mean you know we talked about the power of that phone the power of your personal life um and we want to bring that experience to work you know everybody's phone's different so your phone you know I bet we put our all our phones together um no one had the same two phones and apps and things like that so it's just the way that we want to work um so we want to make sure on the right hand side the business context you also have that opportunity it's the way your company wants to work it's the way your particular users want to work so they have the benefit of the apps um and really the user experience too of apps knowing that if I you know click a specific app I'll be able to drive the process that I need to do um it's really that model that has enabled us to work really closely with Crystal cone so I really give it over a Christian here to talk about that uh and sure I'll take just a minute to talk about our partnership with uh literature we have a you know truly a 360 degree partnership uh we we are not just a implementation partner but you know well we have a strong relationship with uh from our product development perspective also so Bristol cone actually helps uh build a lot of uh tradition uh Solutions uh we're also working with uh trade shift in building uh you know the the actual apps that she was that we've been talking about um that are very specific uh applications that uh you know will will power the whole uh AP solutioning that we are actually building for that in in you know apart from that we are also obviously we've got a number of Consultants who will be trained and and certified on the teacher platform that helps support a number of your number of the implementations but more important it's that you know we go to market together we it's the the the point of making is it's not a it's not just an implementation partner or kind of a relationship but a truly 360 degree one where we are connected at the hip but trade shift on a number of different you know and we just put uh a few of our customers that we are working together on um you know conning Best Buy smokers leave us just to name a few in a lot more outside of these yeah and that's a good list of customers right there really going at that adaptive Enterprise uh making it their own uh they want to use um we talked before about customers bringing us apps um the ones that have brought us apps because they want to work with those specific Partners so you were certainly a great opportunity to engage the experts because we have with personal phone so I think Trish for um for joining us today and adding the value around digital transformation thank you Mike yeah thank you yeah with that um I'd like to take some questions before time runs out if there are any questions available questions yes um I don't see any questions right now um if you do have any questions please put it in your chat box um but uh thank you so much Mike and Chris for this informative uh presentation if you have any questions after uh this webinar uh and you want to reach us you can reach us at sales tradeshift.com um if you want to reach the trade shift or Bristlecone just email us at sales tradeshift.com and I'll get you the information that you need thank you so much for attending the webinar today I hope this was informative and hopefully we'll see you on a next webinar have a great day bye everyone thank you thank you thank you

uh thou tend to introduce our speakers today we have Chris Suresh from Bristlecone Trish is a global practice leader of procurement at Bristlecone he has over 25 years of industry and Consulting experience and procurement engineering analytics I.T Consulting and implementation of procurement Solutions we also have with us Mike Judd from trade shift Mike is the senior director of product marketing at tradeshift he has a long history with procurement and Financial Solutions and working with customers on breast best practices with that said I will hand it over to Mike Mike it is all yours the end thank you um interesting how you said long history and procurement it certainly has been um welcome everybody thank you for joining our webinar today Chris and I are very excited to talk about using digital transformation to create value uh and unlock working capital in your supply chain so big title certainly lots to talk about so we&#39;re excited to talk to you about this today um just by way of agenda what we like to do is um first of all Define digital transformation uh that means many things to many people so that&#39;ll make sure we&#39;re on the same page when we Define that so we want to describe what does that look like and how do you know when you get there and certainly how do you know when you&#39;re done uh if you&#39;re ever done with that right um so then we&#39;ll go back a little bit and it&#39;s certainly going to be a journey for you so we know we want to start with fixing what&#39;s broken let&#39;s talk about the good starting points what&#39;s broken and where do we start and then sellers will be very big part of your uh success so we want to talk about how to get better seller participation to really accelerate the value and get you to do something um as we described in the topic of Google transformation and then let&#39;s talk about when the humans get involved you know how do we get more exception free AP um how do you get more sellers how do you do more invoice processing but how do you do it without so many people get involved all the time right so how can we reduce that and last again we&#39;ll revisit come back to what we call the Adaptive Enterprise um that&#39;s one that we feel has reached digital transformation so we&#39;ll talk about what that means and that&#39;ll bring us full circle uh through our story here so let&#39;s start with uh digital transformation you know what is it and it&#39;s a question mark here because it does mean a lot of different things to many people and some people on the call maybe I&#39;m not a thought of a digital transformation program yet right so maybe this is a question mark for your future even um but certainly a lot of question with digital transformation but we already have a good taste for it now think of your daily life and I&#39;m sure all of you have a smartphone um and maybe some are using it right this moment so I hope not um but certainly we know we&#39;re very powerful at home um you know we can get uh cars to come to our driveway and we know when that car is going to arrive and we know we&#39;re going to get to the airport on time for instance uh we know when food&#39;s gonna arrive in fact you get the you can get custom food delivered to your doorstep right this is the power that we have with our apps today we can move the physical world right pretty quickly and make life convenient for us so we talk about a digital experience there this is something that you know we&#39;re very powerful helpful and make things move faster so it&#39;s connected right we&#39;re connected to the things out there to moving cars to people that are going to drive into the airport it&#39;s very convenient uh and the third thing is in context so if I&#39;m thinking about food I&#39;m gonna get the food delivery if I need a ride to the airport there&#39;s something there that gets me a car and until they attract that uh attract that car to my driveway on time so so that&#39;s where we talk about the digital experience very connected very convenient and in context depending on the actual use we recognize these logos right here right this is um some very powerful apps that we have at home but yet at work very different story and that&#39;s why we&#39;re on the call today right that in some cases we can&#39;t get a status of an invoice suppliers are calling up saying hey when am I going to get paid because they don&#39;t have that experience right we don&#39;t know when our order is going to arrive these are things that we don&#39;t know who&#39;s going to approve our next uh requisition so we don&#39;t know these things we don&#39;t have that same main power at work you really get to be more powerful at work well here&#39;s part of our journey right here if you recognize the logos in the top right and most of you can do in my work life these are some very new up and coming apps uh I&#39;m probably not enough coming already there right yeah they make lights easier on the sales side the HR side and doing collaboration um so we think of these as more adaptive and collaborative apps right they&#39;re they&#39;re outcome based visualization basically you want to do something you want to move the physical world so you&#39;re driving more of those outcomes how do I get that Uber driver to drive it my driveway in time for me to get to the airport those are the outcomes and then the power to drive that is what&#39;s behind these apps right if you look at the starting point I think this is where a lot of people are today um on the control reactive on the bottom left-hand side looking very much at process very process oriented right how do I get the invoices to move faster how do I get rid of these stacks of paper uh you know how to become more electronic right so they&#39;re kind of focused more on the kind of the process side of it rather than the outcomes so what we want to point you to today is something that looks very much uh like the top right where we can describe something that&#39;s very outcome based and it&#39;s adaptive and collaborative so with that on the next slide we make the distinction and we&#39;ll do this several times throughout the presentation electronic versus digital so on the right hand side this is kind of the price I&#39;ll start there on the right hand side we talked about that digital experience that you have at home right you&#39;re moving the physical world you have status you have visibility you&#39;re connected in real time that&#39;s what you&#39;re getting on the right hand side but I think most people when we look at the processes and the ways people want to deal with those process efficiencies is more the left hand side sure that left hand side can keep you up to date the electronics you&#39;re going to know it&#39;s 10 58 on a Sunday right but you&#39;re on a plane moving three time zones and you land on the left-hand side what do I have to do I have to hit the buttons to readjust the time on the right hand side as soon as I get it out of airplane mode it already knows that I&#39;m in a specific time zone here&#39;s the time and by the way I&#39;ve adjusted your calendar for that three o&#39;clock meeting is really 12 o&#39;clock based on the time change so that&#39;s what we&#39;re going to talk about today that experience on the right hand side versus making things electronic on the left and of course you had some great comments on this slide right right so thanks uh Mike I I and I think you know the the um the the primary point that I wanted to make is you know today in the business world even even though there is some amount of digitization that happens right I mean it&#39;s very uh limited uh so if you I you know just to put it in context of invoice uh invoices in AP right I mean uh people are able to uh just using service procurement for example right uh people are able to go ahead and separate uh are not able to submit uh server Sentry sheets uh using using um any kind of mobile applications but you you would be able to approve anything that comes with so I you know what we&#39;re saying is you know while while we are still in in the in the b2c space you&#39;ve gone a long way ahead whereas the B2B space even though there is some digitization it still is kind of very very very primitive stages if you will so in the business world will look more like the picture shows on the left the watches on the left and we want to try and move more and more towards the ice iPhone and the experience that we have in the b2c space and I think uh you&#39;ll see in subsequences uh you know how we take you from the left side to the right yeah exactly right because you&#39;re describing um kind of the electronic side of it versus digital right like an electronic world was around we passed the documents we pass invoices around right but as soon as something changes that invoice is out of date but it&#39;s already gone to the next system right you&#39;re already processing uh that won&#39;t match an invoice so electronic just moves things around a lot quicker but you don&#39;t get that digital experience on the right hand side like an Uber where I know exactly where my car is at this particular moment so yeah exactly right yeah all right so what we like to paint through the rest of the day is look at um digital transformation as that top right corner something that&#39;s adaptive and collaborative you know how do I collaborate with the folks on my Uber driver I don&#39;t mean to overuse that but I think most people are aware of uh kind of that metaphor um but sorry it&#39;s that kind of collaboration and if we know I&#39;m not going to get to the airport in time you know how can I be adapted how can maybe find an alternate Transportation uh maybe it means a different app uh Uber versus Lyft for example so it&#39;s that kind of visibility that makes me powerful and again we want to get to that same kind of power at work but now the good news everything will be apps everything will be networked right um now we made this statement for a couple reasons one is there&#39;s a lot of power in a network so I think about the days this is um dating myself a little bit but on the left-hand side under the 90s there just think about a photograph uh you know so it&#39;s a photograph it&#39;s electronic copy of a photograph my family wants to see uh the kids of course so what I used to do is email the photos out to all the family members and then somebody was always left out I&#39;m like oh sorry and I have to include their email address right um and then what happens too is that somebody changes their email and I have to update my contact list probably at that time I was thinking between a Palm Pilot and emails and all sorts of stuff so I was moving a lot of data around and definitely a lot of Maintenance just to get to a point-to-point connection where I can move the photos to my family so then in the 2000s what&#39;s happening is you had or what happened is you had those portals right um You had the flickers the Yahoo&#39;s photos you had the Google photos of the world and I said well let me just upload all my photos to an album and then you go look at it okay um now the problem there&#39;s a couple problems there right first of all my family used to go visit with several different portals there&#39;s my portal there&#39;s my twin brothers portal there was maybe a softball portal everybody seemed to have a portal to go to right so for my family to keep up with photos it was pretty difficult and for me too I didn&#39;t want to do this all the time so maybe I waited for like a month got about 60 pictures and I uploaded it so it&#39;s not real time so now you see where I&#39;m going on the right hand side of the network you can see what you know by way of what happens today you know we&#39;re looking at now real time you know real-time interaction real-time photos so when somebody um you know does something funny or pretty cool you take a photo of it post it immediately and right away people are thumbs up or passing it on is like oh is that that looks cool how did they do that you know so there&#39;s a lot of interaction right away in real time on the right hand side so we think that um businesses are going to go to the network really for this kind of speed and connection the other half of that too is the app side of it so just like your phone you have access to a network whether it be Sprint T-Mobile Verizon whatever it is you have access to anybody in the world electronically potentially um and so you can make those connections um basically do that through your apps I don&#39;t know if people are aware of it but actually I know my kids don&#39;t know but there&#39;s actually a phone app where you can call people um so I&#39;m going to communicate right um and there&#39;s LinkedIn right if I want to reach the business um my business context I&#39;ll use LinkedIn and then if I want to do a personal contacts then maybe it&#39;s Instagram or something like that so the apps Define how we work with the network who we&#39;re going to to Target who we&#39;re going to connect with um really the apps helps us to find that so we have business contacts we have a certain contents whatever it is the apps help us to connect to the right Network for that particular situation again real time right so so Mike uh you know a couple of things I mean it&#39;s it&#39;s a it&#39;s a little bit of an overused term but I mean it&#39;s uh you know you you&#39;ve heard the term there&#39;s an app for it that&#39;s actually very true right people used to say that as a joke but uh but uh today you have apps for virtually anything and everything that you want on the on the on the consumer side whereas in the business side of things you know you it&#39;s it&#39;s still kind of very nicest and I think uh you know you know from a software development perspective from an adoption perspective apps are really going to be the ones to drive the uh the uh the uh expedition of of all of these functionality that we don&#39;t need individuals to be provided I think this is very very critical this is what drove a lot of the uh growth for example that Salesforce had and I think uh it is it behooves us to start looking at apps as a way to grow faster yeah yeah and that&#39;s actually the second part of the slide here on marketplaces if we think of these roll seller buyer and partners armed with apps you know then they can make these Connections in real time uh you can connect to the right partner the right seller the right buyer and then everybody&#39;s phone&#39;s different right so basically I can have the apps that I like to use that I um you know I really enjoy using I think it&#39;s just the way I do things so I have my own way of working the process too so if you think of a Marketplace or individuals are armed with their their smartphone there their own apps you can really engage in some real-time Commerce uh when that uh when that Marketplace really hits and grows so that&#39;s a good segue into into you know I&#39;ll use the example of Pinterest right so they uh they have uh you know I&#39;m assuming everybody knows what Pinter says it&#39;s this it&#39;s this uh solution where you go in and you like something you uh you put a pin on it which will basically create a a digital album for you uh you know they it grew pretty quickly but they were trying to figure out how do you how do you kind of go ahead and monetize this so from um the Pinterest app came up with something called lens which effectively provided you the ability to say okay I&#39;ve got something that I like maybe it&#39;s a try it&#39;s a vacation spot now using the lens product uh you could you could go in and then it&#39;ll direct you to travel agencies which will take you there or if you if you like uh if you like a headset and you could go in and use the lens product it drives you to Amazon or one of the one of the other e-commerce sites where you could go in and buy it so so these apps not only you know it is also helping uh you know the the growth of Commerce uh and you know something that can be uh you can use the same kind of functionality for other things like AP itself that we will talk about yeah yeah and that&#39;s actually what we&#39;re going to get to so thanks for that segue to the next slide I mean we want to um start talking about the how is a network and apps fit into digital transformation right that&#39;s the the thing we said we were going to Define right so we want to make sure that you see through the rest of the presentation think about the network power and the apps power that you have now how do we apply that to a digital transformation um was this something recently we found I thought was very interesting um 31 of AP think they&#39;re done with digital transformation I thought it was interesting so I thought we should Define it right because what I think is happening there is they&#39;re thinking about the process side of it they probably digitize or electronified a lot of things um but I don&#39;t think they&#39;re taking along the lines of the right hand side um in fact I haven&#39;t seen a company yet that&#39;s really achieved um 100 on all 10 of these levers on the right hand side so kind of want to postulate to this um audience and you&#39;re certainly welcome to put in questions and comments but um we think an Adaptive Enterprise will achieve these 10 levers in the future so you&#39;ll know you&#39;ll get there when your manual processes give way to automation I think most people agree with that which is why I put that at the top um but now we&#39;re looking at more network data and insights so it&#39;s not just how I put like data in front of the right role but how do I put it live partners that might be interested in customer data I might be Sellers and sellers were interested in my customers and what their needs are so how do I get to that network data effect and give people the insights even the stakeholders the insights that they need we&#39;re gonna have roles that are more specialized and creative so less if you&#39;re if you&#39;re doing more automated maybe you know that are more specialized in these creative things now it&#39;s working on strategic you&#39;re going to see um and we&#39;re going to talk about this more throughout the presentation but in network physical and financial supply chain right so we know we can move the physical world we know we move the financial world but can these two you know I shouldn&#39;t say get along but can we Network these um Supply chains and get some extra benefit and that&#39;s actually the title so we know the answer is yes so uh we&#39;ll talk about that more as we move through how financial and the physical Supply chains really connect and if you think of your technology so we talked about Chris mentioned that uh scenario where we&#39;re connecting all the different solutions to your electronic and moving data around to the different solutions but how do you think about it as your solution is more of a platform your phone is a platform right it&#39;s reusing your content it&#39;s using things like the microphone on your on your platform right so how do you get to that where your your systems and processes are using the same components the same data um we talk about apps in the power of apps so this is a way of introducing new people to your processes new stakeholders new partners new users even um not one no one provider can deliver everything uh and you probably I again introduced me as some tradeships so you probably know that you know we&#39;ll sell your solution of course but we know we can&#39;t deliver everything so we rely on on partners with apps to help us make delivery and that&#39;s why Bristol cones with us today digital Exchange Management I&#39;ll go ahead no no I I was going to say you know I mean um you know when we talk about 31 percent think that they are done what um it would be interesting to hear what uh what the 31 percent have done right I mean a lot of people think that you know when you go when it comes to digitization of AP uh having um you know uh integration with the carbon and having some kind of OCR Solutions will uh is is really what needs to happen from from a digitization standpoint and once they get there they think it&#39;s done I think what we are saying is there&#39;s a lot more to be done uh truly in our uh in our mind if you go through and you implement all of these levels and I think we talk about this as a truly touchless safe resources and that&#39;s that&#39;s where we want people to be driving towards exactly so Chris I&#39;m glad you stopped me because I was going to go through the rest of the list but I think you get the point to Trisha&#39;s point right there it&#39;s a it&#39;s a very different um thing on the right hand side than I think we&#39;re used to so that&#39;s I think that&#39;s why we need to make the distinction you&#39;re probably focused more on the process side of things um rather than the outcome base so having known that let&#39;s look at the uh moving forward what is this adaptive Enterprise so we&#39;ve defined it at the top there right that&#39;s the prize we want to get there and we know there&#39;s a journey to there right if you know today you can&#39;t start and it&#39;s automatically being strategic um and get rid of all your applications of course you know that&#39;s not going to happen right so there&#39;s certainly a starting point um to fix what&#39;s broken right so there&#39;s things that you recognize and you&#39;re aware of we&#39;ll talk about that in the next section but there&#39;s things that you know you want to fix today right um but know that um if you set yourself up right the base of the pyramid here then becomes a base for your operational Advantage you know how do we become more or more straight um less manual work because that&#39;s often what that one looks like right and then we can start reducing that manual work then we can focus really on the Strategic one of the last um points on the Adaptive Enterprise is you now have an organization that&#39;s not back office but now literally directly involved with the customer right customer needs something now you have a group rallied behind it that can help you deliver to that customer so take for example a custom Solution customer service you now have people that know Sellers and and people in your ecosystem that you can then rally in real time to make sure that you can deliver for that customer so that&#39;s the kind of thing we&#39;re looking at the top we talk about strategic advantage and adaptive advice so that&#39;s how we want to take you through today fixing this broken operational and strategic from the AP perspective so for us it looks something like this we&#39;ve kind of mapped out um kind of a step up the uh the value ladder where we talk about how do you reach the Adaptive Enterprise well it starts with a digital base um you could do a lot with a long tail spin right get it invoices out why is your AP processing a thousand one-line invoices when they get in the process a thousand lines on a single credit card statement easier to reconcile uh and you don&#39;t have to do all these one-offs so certainly let&#39;s let&#39;s get a lot of the work out and let&#39;s start making things digital so that&#39;s the next level digital AP let&#39;s set up the organization for 100 digital transactions and then today we&#39;re going to talk about the working capital relationship to it so there&#39;s Downstream to AP right there&#39;s there&#39;s processes down there that um we&#39;re using cash and what might be trying to save cash how can we take advantage of that get some benefit and possibly self-fund a digital AP program and then we&#39;ll talk about exception free AP where we&#39;re going to drive off a lot more that manual stuff that you end up doing how do we get more straight through processing because you know ultimately it&#39;s going to help us save working capital again and we&#39;ve just created more money there uh and as Chris said eventually we get to a state of zero AP where the the machines are doing the work right you don&#39;t have to touch a lot of things it&#39;s very um very strategic at this point we&#39;re not touching things so we Define that as zero AP um and then that&#39;s your adaptive Enterprise so with that um take a quick breath and just uh turn it over to fiction was broken okay so we&#39;re starting at the um we&#39;re gonna start the business ladder or the value ladder sees me and we put these challenges up because most people recognize these challenges this is to fix what&#39;s broken right so we know that people are saying I&#39;m not getting on boarding rates I wanted suppliers aren&#39;t participating I have a lot of uh extra work that we&#39;re doing too much paper takes too long okay we hear these and we know all the solution providers hear the same thing um and so we know these are problems right we&#39;re not we&#39;re not refuting that but we think the focus should be more on what is really the problem here okay so what we see is the organization looking a lot like the left-hand side you have Upstream procurement in their Silo and by the way they&#39;re throwing 10 to 16 systems at their processes to make that Silo go faster accounts payable the same thing we&#39;re putting 10 to 15 systems into accounts payable make that go quicker and then treasury the downstream process making the payments also probably have a few systems of their own um and the seller&#39;s a little bit disconnected now we hear the argument a lot well we&#39;re integrated um but to krisha&#39;s point before uh you know that&#39;s an electronic document moving around all right and we know that&#39;s a problem because if you look on the right hand side you still see issues even with best-in-class organizations that have systems that have integration because what&#39;s ultimately happening is you have procurement that&#39;s giving you an order right that could possibly be added have the long pricing uh or have wrong information on that order so when the invoice comes in it doesn&#39;t match right now you can argue wow we&#39;re integrated you know we&#39;ve got the uh but that order didn&#39;t match the invoice right so basically we&#39;re moving a lot of electronics around so we still see problems on the um as you can see on the right hand side uh even though we&#39;re integrated even though we have all these systems in place even though we&#39;re process efficient and from a fasting class perspective we still see 23 invoice exception rates you still only have 25 of our sellers that are sending us electronic invoices and last but not least because we want to get into a working capital conversation too we&#39;re only seeing 19 of early payment opportunities right because of this disconnect from the inside so what we&#39;d like to then present to you today is talk more about you don&#39;t really you don&#39;t have invoice challenges although I see what the problems you&#39;re having think about it now that you have Network challenges because I think you understand so so Mike I&#39;ll just make one point I I think you&#39;ve kind of uh you alluded to this but the the stats that are being provided on the right side which is you know only 25 percent of uh uh electronic invoices are coming from supplies and 19 this is supposed this is actually Best in Class companies right so you can imagine that uh if you&#39;re not investor class you you know the numbers are even smaller than that that is a whole lot of opportunity here to improve working capital and and a whole lot of improvements that we can get by moving to some of these Network apps that we&#39;re talking about and leveraging the power of networks to actually um you know help with a process efficiency also so um I just want to make sure that that point is highlighted yeah no thank you thank you I&#39;m glad you said that because I mean with with so many solutions and and if you just power the silos on the left-hand side you know Best in Class is probably the best you&#39;re going to do um and if you look on the right hand side it&#39;s you know that&#39;s still not good enough so you know bringing our our Network and app story forward as we talked about before we really want to see your organizations networked right and what&#39;s happening in a network situation is that you have shared documents information and processes so instead of moving data around from point-to-point solution to solution person to person what you do is you have shared information so as soon as an order changes people that need to know are aware of it seller sees it procurement knows about it the person that ordered it you&#39;ll be able to see that um maybe AP would have some visibility into it knowing that the invoice came in as it usually does with the usual pricing it&#39;s going to be out of out of sync so then that&#39;s that&#39;s the kind of shared environment that we&#39;re talking about just like your apps when you know your Uber is going to arrive to your door you know when something&#39;s going to change you can be agile you could be collaborative and you can you can even raise your hand and say hey what&#39;s going on here um so that&#39;s the the kind of environment we&#39;re talking about that Network and apps really in effect now to change the way you do your business the outcome based digitalization so that means real-time collaboration so just today if you know I know one day my son was going to be late for his baseball game we had to try and get a ride with the neighbors let the coach know um happened in a matter of 30 seconds be notified everybody that needed to know uh or I could get my son to baseball practice so that&#39;s the real-time collaboration and power that you have to make sure that you know people are aware people can help you out um it can be agile and collaborative which means digital has to be the default um that&#39;s the quickest way I know to move information um and document information and processes throughout a network uh if digital is the fastest way to go for visibility and for moving things forward so that&#39;s why we should visuals with the default so if we could set up that default and make sure that um you know you have the foundation in place then everything really just builds off that off that digital so with that we want you to connect your sellers on a digital Network I think there&#39;s one of the benefits all the benefits we talked about uh which means reducing um reduce your seller support and AP work and create the foundation for 100 digital transactions and what that looks like um hit the wrong button sorry um and what that letter looks like if you set up a foundation of digital there&#39;s a lot of things that are happening I don&#39;t think people realize this but there&#39;s a you know it&#39;s not just the POS and invoices moving digitally but you&#39;re really capturing the data first and foremost with the fire onboarding so with one and two once that supplier is on board you&#39;re accelerating the content that you have access to and that&#39;s the supplier Master data for one thing there&#39;s also product data that you have from the sellers the pricing all this stuff now accelerates and moves in real time on the network um you can even use in three you can use Partners to enrich that data you can know if a seller is sustainable will help your sustainability programs for instance or help minority own business programs whatever you have so you can enrich that supplier data with information from Partners on the network so let me let me let me if I can add one thing Mike right so I uh I I uh run large uh P2P organization in my past careers and one of the big challenges that we had was keeping the supply Master data that uh that Mike&#39;s alluding to uh what kind of certification do you have um you know I have are there certain um uh you know specific uh validations that you need to do all of this would take us hours and weeks to Canada right by having this kind of a network solution it it one puts the owners on the on the supplies and then two it&#39;s just dramatically improves their ability to um to have correct data in a very very accelerated manner so yeah you know I think this is this is critical I want to re-emphasize that you know Supply Master data is one of the hardest things to try back and just this allows us an option of this provides this ability to do that yeah yeah and it&#39;s certainly a foundation right there&#39;s a lot of business processes that seller data who are you going to pay are you going to sit in the order to you know so we know that we need that Master data it needs to be correct um because you certainly don&#39;t want to send the payment on an invoice to an incorrect bank account or address or anything like that so we want to make sure that all that data is correct verified enriched if you want to and then available to any process that needs it again using this phone analogy when you put on new app on your phone doesn&#39;t ask you if you want to use your contacts I think that&#39;s pretty cool yep use my contacts and it&#39;s basically you&#39;re up and running and using that app so same premise on a platform new supply chain processes can use the data that&#39;s already in place so that&#39;s the speed that you&#39;re getting and right and Global this is really about the reach here that uh on a Network Global uh I&#39;m sorry networking certainly reach Global uh you have that kind of access uh in a digital uh and a digital Network you can reach the globe but the impression uh what what do I really want to press here is really about that compliance and um uh for tax and invoicing purposes that really the network can take care of it the network knows the rules right there&#39;s certain rules that everybody must follow to do even voicing in China for example the platform&#39;s gonna know the rules in fact if they change the platform would take care of that so basically you could rely on the platform to achieve your Global reach but also know that you&#39;re complying to those e-invoicing and tax rules and that&#39;s really when the collaboration on the last one really starts kicking in right as soon as you have a supplier that&#39;s engaged uh working with you their shared information even at this level um your collaboration really happens and we&#39;ve seen that quite a bit where suppliers are contributing new parts um new processes that are helping process efficiency but also the final product that is cheaper to deliver to the customer so that&#39;s um you know so even at a base level we talked about that digital AP run of the ladder a lot of benefits in getting this foundation in place and I just I quickly want to take you through one use case that we&#39;ve seen I think it&#39;s very powerful where a company that&#39;s on the level of multinational consumer Products Company came to us and said you know we simply just want to reduce the phone calls he said yeah but there&#39;s a networking apps like no no you&#39;re not listening we just want to reduce the phone calls all right you can do that she starts this network and you can see on the stat on the right top 5 000 suppliers activated the less than four weeks uh that means they had visibility into when they were going to get paid so um over time is the number of sellers increased we&#39;ve seen the first phase up to 19 000. uh they&#39;re able to reduce the call centers because um because they weren&#39;t getting calls anymore they said go onto the network go see um your status there in fact you&#39;re gonna know when I know when you&#39;re gonna get paid so just go under the network and view it there stop calling me so they&#39;re able to close the call centers based on that um and the interesting thing was then how that built from there so 19 000 suppliers on board well let&#39;s start e-invoicing let&#39;s go to different countries um so this will segue nicely into the next um part of the presentation we talk about some of the working capital benefits what they wanted to do is introduce early payment given that they had the network in place and start seeing now um you know being able to then extend DPO base payable outstanding you know not pay the bills right away but wait a little bit um but do that with that in a way that&#39;s not going to hurt the Stellar relationship right or maybe I could use my cash to um you know to get some discount there so that&#39;s the next level for them so great segue into the next part of the conversation where we talk about what is the working capital benefit but we&#39;ve kind of word a little bit differently because this is really about the seller getting value at this point so how do you get a seller to adopt so one of the challenges that we said before is my sellers aren&#39;t participating um and you know we can&#39;t get them on board quick enough so what happens if you start adding value to that relationship that they can get paid much quicker so we&#39;re talking about early payment opportunities here so there&#39;s value to that seller to join the network and say yeah you know if I need the cash you know I like to make that known and see if I can get that cash as early as possible so in the next part of our presentation here what we&#39;d like to talk about is really how do you get to that um that seller value so the benefit of a network is actually many so a network drives the value for both buyers and sellers so we talk about the working capital benefit on the buyer side and a seller that needs cash can certainly access the cash if they need it it&#39;s an option they don&#39;t have to but they cannot access that um but we can do this for all your sellers and why because on a network you can have all the parties involved you have buyers of course right you have sellers that could say hey I need that opportunity and then you have a financial institutions that are part of your network that could say you know what I can offer a sleep feel at this point in time um based on the situation based on the market all right so there&#39;s um kind of a lot of different people at play that can give the right benefit to all parties buyers get to work in capital Banks get a new opportunity for financing or any financial institution to do that so students get the benefit of early payments so we look at the opportunity of something like this on the right hand side and this is really the buyer us talking to a buyer and saying this is the benefit so we know there&#39;s benefit to AP automation right we know that you&#39;re going to um see the benefit when um the digital starts to kick in and you&#39;re automating your AP processes but on top of that you could see a 2X return from early payments from supply chain financing where you&#39;re seeing um you&#39;re not having to pay your bills right away you can use the your cash today&#39;s table outstanding use your own cash or dynamic discounting if you use your cash right away you&#39;re going to do better than money market rates so that&#39;s where the 2x is coming from now know that on the left hand side this is very important right you have to then get the left hand side right in order for the right hand side to really uh work so that means on the left hand side we have to then provide um the invoices fast enough so through the invoices as quick as we can um and we have to then um that&#39;s going to provide the extra return so if we get the left hand side right and get the invoices done quick enough we developed the opportunities on the right hand side in order to make um that ux return work for you so basically you&#39;ll hear me refer to this kind of throughout the presentation from now on as we just built an engine of cash right so let&#39;s let&#39;s see this as much as possible so again Mike I&#39;d like to bring in the whole uh overlay the concept of networks over here right I mean so when you don&#39;t have a network solution uh or where you have multiple uh you know Partners in the network right so you have vendors you have uh your AP organizations you are banked you need all of these to get to truly leverage the supply chain financing component of it it&#39;s in a non-network solution you&#39;re not going to have the ability to do separated financing from external parties like like Banks that&#39;s that&#39;s a very very powerful uh you know benefit of having a network solution yeah yeah in fact um let&#39;s talk about the network and the platform again we talked about apps um let me just build this out but the reason you have value to all your sellers is you have many opportunities available to you some of these you kind of maybe heard my words um recognize that in some cases you&#39;ll need financial institutions in some cases it&#39;s your own um your own cash right your own uh Treasury and we have the cash available and we can use it as an opportunity um so the benefit of the network is really having that visibility to what are the opportunities um who has the best opportunity and how do we take advantage of it so basically that&#39;s a long way of saying that there&#39;s value to all your sellers different programs meet different years of sellers um but also you can be flexible about what um what option you use based on your current situation do we have a lot of cash at the moment let&#39;s let&#39;s use our own cash then and get some returns so basically we can provide benefit to all sellers in think about Network right and many many companies are saying you know I&#39;m connected to 55 of my sellers it&#39;s just actually a pretty good rate if you think about it I don&#39;t think many have achieved 55 but I think that was a statistic I saw recently so 55 of my sellers are connected electronically and people often say well isn&#39;t that good enough so I really need the other 45 and one of the answers to that is really around this that aren&#39;t you missing some of those opportunities for early payment by not capturing that 45 all right isn&#39;t that 45 probably the ones that need the cash the most and they&#39;re willing to pay more maybe um or maybe do it more often um so think about that what&#39;s in that 45 maybe it&#39;s those that are really need the cash and can really again feed more money into your engine or more invoices I should say into your engine of cash so yeah we um I I I I I I think you&#39;re making the point and the uh on the x-axis and the right side right the long curve uh the long tail Supply I I think I&#39;ve seen way too many organizations to say okay let&#39;s say you say 80 20 rule let&#39;s take the big ones uh and then not worry about the long tail and I think uh I think that&#39;s fine from a from a strategy as to who you onboard first but I think it&#39;s important to realize that&#39;s a long tail sometimes um you know contributes a lot in terms of uh our uh our expenses and you know there is a a definite opportunity there using uh you know the dynamic discounting and separating Finance uh options to tap into all of that also and I think I think people have to start thinking about that as a long-term strategy yeah yeah and coming back to the statistic on this slide if you remember when we showed the the silent organization and one of the statistics we showed was Best in Class getting about 19 of early payment opportunities um and now we&#39;re coming back to that revisiting it and showing you how would a network then increase those opportunities uh it does it on two levels and in fact there&#39;s actually a third but um I&#39;ll mention that in a second but let&#39;s just take the two because it&#39;s easier to draw on a slide one of the ways is more supplier participation right so now more suppliers are electronically connected to you more have access to that so they&#39;re able to then make themselves known and say hey I would love to have this early payment opportunity because I really need that cash for payroll or whatever that is all right the second access is faster invoice processing so that time is money so the point here is that the sooner you can process an invoice the more likely you&#39;re going to get a bigger return so I always use the 90-day example where if you can prove an invoice in a day so I was going to like ooh I have to wait 89 days to get paid yeah I&#39;ll take an early payment opportunity right now versus the other scenarios you process an invoice in 89 days and the seller&#39;s gonna say wow I get paid tomorrow uh zero percent for you so the time is money right the sooner you get these invoice processes the higher the return so there&#39;s two things that work here more participation from your sellers and more higher returns from the fast invoice processing and the third one I said I was going to mention is also the banks are involved now any financial institution uh is networked into this process right um that you allow of course so they can also help and um you know say I can give you an opportunity at the moment if you don&#39;t have the cash so they have access and view and can offer the opportunities that maybe weren&#39;t offered before so that&#39;s the power of a network again for the working capital benefit so knowing that we want higher seller participation and faster invoice processing leads us one of our most challenging invoice processes of all uh and that&#39;s really where the manual workflows kick in uh the coding and the approvals I hear so many times that folks are saying like we have too many manual processes our workflows are too slow our cycle plans are too slow um so if we want to create that engine of money again where we have more invoices in involved and faster invoice uh approvals where we get the higher returns this is really going to be a challenging area for you right so we certainly want the goal of being more straight through processing so today what we like to talk about is you know really how do you automate invoice processing for more straight through processing so where do we get the benefit of the automation we talked about that&#39;s part of the Adaptive Enterprise manual gives way to automated right um but we know right there&#39;s going to be manual so where manual is needed how do we get the fewest touches how do we get that work item that&#39;s being floated around how do we get that back to the critical path as quick as possible so that&#39;s really what this is about in just a couple slides um the network again working to help out to um the networking platform and the apps helping out to get you straight through processing so certainly um when you have all the Digital Data in play and you start getting processes uh flowing through in a digital fashion you have access to not only data but really how that data is being used do you know for a certain seller it always comes in in this particular way um so when I approve it every single time all right or how do we why have somebody code it when it was coded three times before so this is where the machine starts coming in and learning to do the work this is how manual gives way to automation that we can have not only um The Machine&#39;s doing the work for us but they can also suggest which is part of the second part here so when the people do get involved well how do we make that go quicker well we could suggest the right person right we know the last time it came in or we know who&#39;s the category manager for this particular seller we know these things why can&#39;t we get it routed to the right person based on the situation in history so even where the humans are involved not only do we have the uh benefit of the machine learning making suggestions and not maybe doing the work for us but we have this real-time collaboration too again like uh I I overuse my Uber example but you know when that person&#39;s not arriving on time you can certainly text them and call them um or just look at the map on your phone and know when it&#39;s going to arrives so it&#39;s that real-time effect that puts people at ease but also enables them to be more agile and adapt to whatever the new situation presents so that&#39;s really what um you know we want to impressed what a network can apps do to make that um uh to make life go better for the exception pre-processing so um kind of round that out with some results that we&#39;ve seen um and then we&#39;ll talk about the Adaptive Enterprise we&#39;ll pick that back up again um but certainly some results along the lines that we talked about um Global food processing and commodities company 22 days shorter invoice processing time that certainly gives them the benefit of more uh and better working capital situations higher rates of returns um in fact they have a 24 higher discount capture rate so it&#39;s not 24 percent or higher it sounds absolutely um somebody with a healthcare shared service 100 reduction in those calls we talked about that&#39;s the benefit digital AP that they&#39;re not getting all those queries and phone calls where&#39;s my invoice uh where am I going to get paid I mean um because they know when we know uh when they&#39;re going to get paid so why call me you might as well just check it yourself um and with that uh digital 50 faster invoice processing Cycles so we don&#39;t have the code on the right too just uh again another uh result for you here number key invoices has grown by over 500 resulting in 75 percent no touch rate and 80 88 savings um so the 75 no touch rate is certainly a great thing to have achieved but you know I&#39;ll bet that he won&#39;t say he&#39;s done with digital transformation just yet uh you know there&#39;s certainly more to go that&#39;s definitely uh you know fell on your way to something that&#39;s more automated versus uh doing all that manual work so that&#39;s just pretty expensive it&#39;s fast for uh for them so we&#39;ll do it we&#39;ll take uh just about five more minutes um for the Adaptive Enterprise and open up for questions so please uh have those questions ready and um you can put those in the chat on a I think it&#39;s on the right hand side it is on mine so go and start feeding those questions we&#39;ll take those in about five minutes but let&#39;s come back to the Adaptive Enterprise um you remember this was something that uh is an Adaptive and collaborative um uh digital transformation you know we want you to have the power of the apps that you have at home you want you have that power at work too but it also has to be your own so if you think of the Adaptive Enterprise I mean it&#39;s really about your business so how do you make it your own how do you how does it become your partners your processes physically connected on a Global Network um because that leads to the supply chains that are more agile efficient and differentiated so everybody&#39;s adaptive Enterprise and the path to there is going to be different um and this is really where I just want to talk about trade shift in a couple slides um what we&#39;re about is the apps and the network um the apps is the common platform for the Adaptive Enterprise to connect and collaborate supply chain so just like today you have that digital experience on your phone with the apps it&#39;s that same thing that we want to bring to the to the business list right if you have that way of being digitally active and connected to your partners um and in fact you can digitally ensure new processes as apps at any point in the processes right you can say I want to work with this particular partner for this particular process why because they&#39;re the experts um so just to let you kind of know what that looks like it might look like something like this where the um because of the different partners and processes that you have and you run and that you want to work with your AP process might be uh some different partners that you want to engage for different points in time so call fast for example and freedom verify supplier data to make sure um you&#39;re working with the right data and the right sellers we have some sensibility and ways to create some very specific processes around direct materials and creation uh you might work with specific um AI tools or I&#39;m sorry um bi tool excuse me and then certainly you want to work with banks and uh financial institutions that you want to work with so this is just to kind of point out that it&#39;s really your partners your processes so you can build your process the way you need to uh that fits your particular needs to be important to talk about the of the apps and Partnerships that you have from a logistics standpoint I think that&#39;s another area uh where I think there&#39;s a lot of uh um you know blind spots if you will at this point in time and I I know that that there are you are particularly strong in that space right yeah yeah in fact I mean it&#39;s uh it&#39;s not necessarily Partners we work with too but partners that you want to work with um so a lot of these uh a lot of these logos came to play because someone said I want to work with this particular partner and we said yeah okay let&#39;s do that um and in fact um you know so we could we could do that as well so basically we just one once you be able to create your own processes and but create that digital experience which is about to um last slide that I&#39;ll do and I&#39;ll turn into Krish but really I mean you know we talked about the power of that phone the power of your personal life um and we want to bring that experience to work you know everybody&#39;s phone&#39;s different so your phone you know I bet we put our all our phones together um no one had the same two phones and apps and things like that so it&#39;s just the way that we want to work um so we want to make sure on the right hand side the business context you also have that opportunity it&#39;s the way your company wants to work it&#39;s the way your particular users want to work so they have the benefit of the apps um and really the user experience too of apps knowing that if I you know click a specific app I&#39;ll be able to drive the process that I need to do um it&#39;s really that model that has enabled us to work really closely with Crystal cone so I really give it over a Christian here to talk about that uh and sure I&#39;ll take just a minute to talk about our partnership with uh literature we have a you know truly a 360 degree partnership uh we we are not just a implementation partner but you know well we have a strong relationship with uh from our product development perspective also so Bristol cone actually helps uh build a lot of uh tradition uh Solutions uh we&#39;re also working with uh trade shift in building uh you know the the actual apps that she was that we&#39;ve been talking about um that are very specific uh applications that uh you know will will power the whole uh AP solutioning that we are actually building for that in in you know apart from that we are also obviously we&#39;ve got a number of Consultants who will be trained and and certified on the teacher platform that helps support a number of your number of the implementations but more important it&#39;s that you know we go to market together we it&#39;s the the the point of making is it&#39;s not a it&#39;s not just an implementation partner or kind of a relationship but a truly 360 degree one where we are connected at the hip but trade shift on a number of different you know and we just put uh a few of our customers that we are working together on um you know conning Best Buy smokers leave us just to name a few in a lot more outside of these yeah and that&#39;s a good list of customers right there really going at that adaptive Enterprise uh making it their own uh they want to use um we talked before about customers bringing us apps um the ones that have brought us apps because they want to work with those specific Partners so you were certainly a great opportunity to engage the experts because we have with personal phone so I think Trish for um for joining us today and adding the value around digital transformation thank you Mike yeah thank you yeah with that um I&#39;d like to take some questions before time runs out if there are any questions available questions yes um I don&#39;t see any questions right now um if you do have any questions please put it in your chat box um but uh thank you so much Mike and Chris for this informative uh presentation if you have any questions after uh this webinar uh and you want to reach us you can reach us at sales tradeshift.com um if you want to reach the trade shift or Bristlecone just email us at sales tradeshift.com and I&#39;ll get you the information that you need thank you so much for attending the webinar today I hope this was informative and hopefully we&#39;ll see you on a next webinar have a great day bye everyone thank you thank you thank you

Transcript for:Digital Transformation in Procurement and AP

Transcript for:
Digital Transformation in Procurement and AP