Greif Embraces E-Invoicing

To ensure accuracy and trim expenses associated with the complex invoice-to-pay process, Greif (San Francisco), a major provider of industrial packaging products and services, and OB10, supplier of a standard-setting global B2B e-invoicing delivery solution, have entered into a five-year services agreement.

Under the terms of the agreement, thousands of Greif’s suppliers will eliminate sending paper invoices and move to electronic delivery via the OB10 global e-invoicing network, which has members in 70 countries and across six continents.

Greif is a $2.4 billion corporation that operates three business groups: Industrial Packaging and Services; Paper, Packaging and Services; and Timber. It operates in 160 locations in more than 40 countries, with a primary focus on producing containers and container board for bulk shippers in the chemical, food, petroleum and pharmaceutical industries. Greif also manages timberland operations in the United States and Canada.

Greif had been using Optical Character Recognition (OCR), workflow and Baan systems to manage their A/P and invoice-to-pay processes.

Benefits of the OB10 solution include: Elimination of the cost associated with mail preparation, imaging, indexing, data entry, and integrity auditing of invoices; compliance with regulatory requirements including Sarbanes-Oxley and VAT; invoice format “agnosticism” requires no new hardware or software at either invoice sender or receiver sites; and dedicated implementation services teams to help newly-enrolled suppliers get up and running on—and remain operational on—the OB10 network.

Source: Greif