Link4 Case Study
Accelerating the Accounts Receivable Process for BOC Australia
BOC Australia removing data entry for customers and accelerating their own invoice payments.
THE CHALLENGE
As Australia's leading gas and welding equipment specialists, BOC Australia sends a large volume of invoices to their extensive customer base. Sending thousands of invoices means that thousands of individual interactions and transactions are undertaken with just an invoice as the point of contact between BOC and their customers.
Daniel Whittle, the Online Channel Manager at BOC Australia, identified how hard receiving an invoice can be for their customers.
Daniel wanted to make this interaction as easy and useful as possible for both BOC and their customers. This ultimately led to BOC beginning an eight-week project in November 2017 to test Link4's elnvoicing solution with their customers.
The next step was to make eInvoicing happen – and critically, bring its suppliers along on the journey.
THE SOLUTION: elnvoicing
Making this supplier to buyer relationship as easy as possible through elnvoicing was a major selling point for BOC. Daniel could see how being able to directly exchange information and streamline this experience for their customers would create a mutually beneficial relationship.
Link4's optional notifications made it simple for BOC to continually assess the progress of an invoice.
Throughout the project, Link4 noticed that some of BOC's customers were making invoice payments on the day that the invoice was received. More generally, 60 percent of customers paid their invoices before the due date and they were making payments 4.7 days earlier on average.
A major highlight BOC experienced was the detail that could be included in elnvoices, unlike some invoice scanning innovations.
It also included factoring in how eInvoices with POs came in from suppliers using Xero and MYOB.
THE OUTCOME
Upon completion of the initial project period, BOC identified enough pieces of success to continue the project and extended the invite to more of their customers.
Several crucial elements contributed to Waipā’s success. Firstly, it was imperative to ensure that the subject matter expert (SME) comprehended the AP process and valued the underlying systems. Secondly, engaging the AP team right from the outset of the project played a pivotal role.
Daniel said he had received positive feedback from customers during the project. He said customers mentioned how simple Link4 was to use and that it completely streamlined the way they receive BOC invoices.
The council identified that many of its suppliers are using eInvoicing enabled software such as Xero and MYOB for their invoicing. For these suppliers, the council used a ‘no touch’ tactic by automating an email response to any incoming invoice identified as being emailed via a Xero or MYOB system, asking the supplier to make the switch to eInvoicing. The email outlined how to quickly and easily send an eInvoice based on whether they were Xero or MYOB users. Waipā will continue to monitor the effectiveness of this automated email and may consider reminder emails and phone calls to suppliers in the future.
"After connecting Link4 to my MYOB system and allocating accounts, there was almost nothing for me to do to get the account paid - just accept the invoice and it is all done for me."
- BOC Customer
"There is no doubt that elnvoicing with Link4 has provided value for both BOC and our customers."
- Daniel Whittle, BOC Australia.
About Link4 Australia:
Founded in Adelaide, Australia, in 2016 with backing from the entrepreneurfunded SouthStart Accelerator, Link4 specialises in electronic invoice delivery for small and medium businesses. The Link4 SaaS service is an Account Payables and Account Receivables automation solution that allows SMBs to exchange invoices and purchase bills instantly without requiring any software installation or long-term commitments.
About BOC Australia:
BOC Australia is a member of The Linde Group, supplying compressed and bulk gasses, chemicals and equipment around the globe. The company develops safe, sustainable anp innovative solutions for customers in many specialty sectors, heavy industry and medical environments. For more than a century, the company's gases and expertise have contributed to advances in industrial and everyday life; including steelmaking, refining, chemical processing, environmental protection, wastewater treatment, welding and cutting, food processing and distribution, glass production, electronics and healthcare.
