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Case
Studies :
EIPP : Giant Eagle Inc. |
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Invoice Harbor - Invoice Receipt Manager
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Giant Eagle Inc. |
| Client's Needs |
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Giant Eagle Inc., ranked 26 on Forbes magazine's largest private corporations list and in 2002 named Progressive Grocer's Retailer of the Year, is one of the nation's largest food retailers and food distributors with more than $4.7 billion in annual sales. This regional retailer implemented EIPP for their Payables in 2002. The main objectives of the program was to increase electronic payments as a means to better trade terms and reduce overall invoice processing costs.
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| Solution: |
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Giant Eagle implemented an EIPP solution, Invoice Receipt Manager. This web-based invoice and payment processing platform provided electronic invoice capture from the companies most strategic suppliers, tightly integrated with Giant Eagle’s PeopleSoft system to facilitate 3-way matching, and enabled electronic payment to the vendor population, complete with detailed remittance information.
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| Resulting Benefits: |
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The solution resulted in significant trade term discounts from strategic vendors, in exchange for electronic payments. Additionally, cost reductions were realized in internal programming costs and the elimination of EDI VAN (Value Added Network) charges. Overall, the solution improved vendor communication of dispute data and the overall process efficiencies will reduce FTE’s related to A/P processing tasks. The automatic application of A/P and A/R information for both the Buyer and the Vendor is a win-win for both parties, reducing costs and creating a more collaborative working relationship.
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