 |
 |
|||||||||||
|
|
|
||||||||||
|
|
|
|
|||||||||
|
 |
|
 |
|
 |
 |
 |
|
|
||||||||
|
Baker Hughes | |
|
Overview Baker Hughes is a worldwide leader in oilfield services for drilling, formation evaluation, completion, and production technology. In other words, Baker Hughes finds and produces oil. One division, the Baker Hughes Business Support Services (BSS) group, is tasked with the critical job of providing individual Baker Hughes projects with high quality, cost efficient support services. BSS helps keep Baker Hughes project costs down by maintaining high standard business practices and implementing technology efficiently. Challenge Accounts Payable within BSS was an area in need of significant improvement. The BSS division annually processes over 300,000 purchase order invoices and near 400,000 non-PO invoices. In early 2002, the success rate of "invoices paid to terms agreed upon" was only 50-60%. This figure indicated a high number of disputed invoices and massive amount of manual routing, approvals and collaboration. In order to bring this area under control, Baker Hughes Business Support Services set a target of 98% success rate on invoices paid to terms agreed upon. Optura Solution The Optura Vendor Invoice Management solution for Baker Hughes provided comprehensive visibility into the invoice payment process for all involved parties. Invoices with problems are automatically categorized and routed for examination and approval by the appropriate individuals. And, all invoice information is centrally controlled through SAP providing accurate financial status and forecasting estimates. The Optura Vendor Invoice Management solution for Baker Hughes provided comprehensive visibility into the invoice payment process for all involved parties. Invoices and associated PO information is available online to AP personnel and vendors. Invoices with problems are automatically categorized and routed for examination and approval by the appropriate individuals. And, all invoice information is centrally controlled through SAP providing accurate financial status and forecasting estimates. Results Baker Hughes realized immediate results with a recurring annual savings of $600,000 in the BSS Accounts Payable department. This is for the U.S. division and Baker Hughes expects savings will continue to increase as the solution is rolled out to its international divisions. Other benefits include:
|
|
|
* Case Studies are in the Adobe PDF format, which requires
Adobe Reader.
|
|
|
© 2005 Optura. All Rights Reserved. | 207-363-1101 - More Information | Terms of Use and Privacy | |
|
|
|
|
|
|
|
|
