The Globys invoice-to-cash solution captures invoices from multiple billing systems into a supplier invoicing hub. The Globys platform provides AP tools for customers to personalize how invoices will be delivered, verified, and paid. The intuitive AP tools enable customers to personalize invoicing such as consolidation of multiple invoices into a single virtual invoice, allowing them to be cleared in a single payment as well as intelligently allocating charges into the customer’s chart of accounts. Globys then tracks all payment and remittance data to automatically close invoices correctly and efficiently. “Making it easy for customers to pay according to their preferences improves trust, accelerates cash flow and lowers DSOs,” says Shanahan.
The Globys solution also tracks straight-through processing (STP) adoption. Globys identifies exactly which customers are using what straight-through processing features. This business intelligence allows a supplier to target customer adoption campaigns “With the Globys STP dashboard, a supplier has a single view into OPEX and DSO benefits and opportunities,” remarks Shanahan.
Our straight-through processing mission is to provide trusted machine-to-machine invoice presentment, payment, and closing
Furthermore, the platform leverages data analytics to enable capabilities like allowing a supplier to track sources of churn and growth within their revenue.
The rich set of benefits of Globys’ solution has been instrumental in scripting several success stories. Day sales outstanding (DSO) was a major concern for a global telecom company. Enterprise customers were less than 10 percent of the customer base but more than 50 percent of the revenue. Consequently, the manual AP processes for enterprise customers had pushed DSOs past 90 days. Having understood Globys’ unique straight-through processing capabilities, the telecom company rolled-out the Globys’ invoice-to-cash solution. Shortly after launch, the DSO of the telecom company dropped by 65 percent, thereby improving cash flow significantly.
In another instance, one of the largest call centers that catered to a supplier’s customer support operations received numerous queries and objections from customers regarding anomalies in invoices delivered. By embracing Globys’ invoicing solution, the client reduced the number of calls pertaining to queries by 24 percent, in less than a month.
Shanahan believes that the future will witness straight-through processing at greater scale, allowing suppliers to build trust, customer satisfaction, and efficiency—a development that Globys is gearing up to handle. Consequently, the company is investing in intelligent contracts, shared ledgers, automated verification rules, and integration with accounting applications to further enrich its solutions. Globys is poised to lead a new era in B2B invoice-to-cash.