7-Eleven, a household name in the convenience store industry, has always stood for accessibility and efficiency. Yet, even industry giants face challenges, and 7-Eleven was no exception. Despite its expansive implementation of EDI throughout its supply chain, 7-Eleven still received over one million paper invoices annually.
In a strategic move, the 7-Eleven team partnered with Transcepta, aiming for a transformative shift in Accounts Payable. The goal? To achieve 100% digital invoicing by transitioning thousands of "mom-and-pop" vendors, still relying on handwritten invoices, into a modern, streamlined digital invoicing process.
With Transcepta’s AP Automation platform, 7-Eleven accomplished its goal! This shift made a significant impact:
- Cutting SG&A Costs: With the implementation of Transcepta, 7-Eleven significantly reduced SG&A costs and enjoyed substantial savings.
- Eliminating Paper Invoicing: Transcepta enabled 7-Eleven to bid adieu to paper invoicing, paving the way for a more efficient system. AP automation not only eliminated the risk of human errors but also allowed AP managers to reclaim valuable time that was previously spent on manual tasks.
- Strengthening Supplier Relationships: The move to digital invoicing didn't just benefit 7-Eleven internally. It also strengthened relationships with vendors who embraced the modernized system and enjoyed enhanced visibility into invoice and payment status.
7-Eleven's success story is just one example for businesses looking to transform their AP operations. It demonstrates that choosing the Transcepta AP Platform leads to significant cost savings, operational efficiency, and improved relationships with suppliers.
Are you ready to cut costs and streamline your AP operations? See what Transcepta can do for you.
