RS Components dramatically reduce cost of purchasing for suppliers with e-invoicing

With a vision of creating a completely electronic acquisition process, eliminating paper invoices was the final piece of the puzzle for RS Components. By identifying a system capable of handling multuiple invoice formats and VAT complexities, they were able to realise their digitisation goal.

Overview

RS Components UK is part of the Electrocomponents Group which is listed on the London Stock Exchange in the Support Services sector. Electrocomponents has 27 operating companies – 2 in the UK, 11 in the rest of Europe and 14 in the rest of the world, including Japan and the USA. Through the RS Components and Allied (USA) subsidiaries, they distribute over 300,000 products to over 1,500,000 technical and industrial professionals throughout the world.

Looking to use e-invoicing to create a totally paperless acquisition process and implement a standard invoicing solution for their clients globally, RS Components needed a solution that would meet complex customer and VAT requirements.

After partnering with Tungsten Network, RS Components has reduced invoice processing costs while delivering better service for their customers.

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Results

100%
of invoices are tax compliant
1
unified, complete electronic process across global operations
300k
products for which customer purchasing costs were reduced

“Trying to create an electronic invoicing solution for all our customers would have been prohibitively expensive and complex for us, with Tungsten Network however it just happens. There are no integration issues, all the mapping between our systems and our customers’ is done for us, and not just in the UK. Tungsten Network takes all the headaches of electronic invoicing away.”

Paul Parker, General Manager e-Commerce, RS Components

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