This article originally appeared in CGT on October 12th, 2015. Follow this link to read the original article.
By Alarice Rajagopal and Jamie Grill-Goodman
Since the introduction of its first light bulb in 1891, Philips has grown into a global, diversified technology company focused on improving lives through meaningful innovation in the areas of healthcare, consumer lifestyle and lighting. In order for Philips to enhance its presence in Latin America, efficient logistics, distribution and supply chain operations were critical to success. However, the strict regulatory environment in this area of the world requires all businesses to comply with strict e-invoicing processes or risk facing operational shut downs, supply chain delays and severe fines and penalties. Any oversight in accounts payable or accounts receivable processes can greatly impact overall business operations.
Compounding the compliance challenge, regulations in this region change frequently, requiring recurrent updates to invoicing, AP, shipping and receiving processes that strained Philips’ global architecture and IT. It required stability to manage day-to-day business needs, along with agility when time-sensitive changes are necessary.
Although Philips already had an integrated e-invoicing solution within its ERP system, in its quest for innovation, Alexandre Quinze, CIO and Head of Operational Excellence for Philips Latin America, decided to analyze alternative solutions when Brazil required a new upgrade to streamline these critical change-management processes.