Driving Adoption of Electronic Invoicing at thyssenkrupp Elevator Corporation

This case study details the initiatives undertaken by thyssenkrupp Elevator Corporation to enhance its customer-to-cash process through the adoption of electronic invoicing. The company faced challenges due to U.S. Postal Service cutbacks, which slowed the invoicing and payment cycle. In response, thyssenkrupp implemented a payment cycle management solution from Billtrust, aiming to improve cash flow by automating manual activities and consolidating invoicing processes. The study outlines the implementation process, which included soliciting customer feedback and conducting a marketing campaign to encourage online payments. Key results included a significant increase in the number of online payments and the dollar value of payments made electronically. The company also improved invoice delivery times and reduced delinquency rates. The case study concludes with lessons learned and next steps for further integration of the online payment system across its operations.