Photo of Melanie Girouard, Citi and Benedikt Zimmermann-Kuehne, Kuehne + Nagel.
Together with their e-invoicing partner and key relationship bank, Kuehne + Nagel has developed a fully technically integrated, one channel, seamless straight through invoice-to-cash platform, complemented with an accelerated supplier payment feature in the form of a receivable purchase option.
Since 1890, when the business was founded in Bremen, Germany by August Kuehne and Friedrich Nagel, Kuehne + Nagel has grown into one of the world’s leading logistics providers. Today, the Kuehne + Nagel Group has some 1,300 offices in more than 100 countries, with over 70,000 employees.
in partnership with
E-invoicing platform offers early payment option
Kuehne + Nagel (KN) wanted to provide its suppliers with an early payment solution without having suppliers or KN to connect to different platforms. The existing e-invoicing platform was extended with an early payment option with the following objectives:
One platform for invoicing and receivable purchase activities.
Possibility for payment within a few days.
Full invoice status transparency to suppliers.
Possibility for full ERP integration on KN and supplier side.
Multi-bank possibility for financing of receivable purchase activities.
Attractive financing rates.
KN is moving from paper to electronic invoices and handles purchase orders with auto-matching functionality in the ERP, allowing fast and efficient invoice handling and approval processes.
Roger Sutter, Group Treasurer explains, “Together with our e-invoicing partner, Tradeshift, and our key relationship bank, Citi, we developed a fully integrated, one channel, seamless straight through invoice-to-cash platform. It is complemented with an accelerated supplier payment feature in the form of a receivable purchase option.”