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.
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.
RS Components wanted to create a totally paperless acquisition process and implement a standard invoicing solution for their clients globally. They need an e-invoicing solution which could meet complex customer and VAT requirements.
Through partnership with Tungsten Network, RS Components has both reduced invoice processing costs and can deliver better service for customers.