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Invoice master for organizations

my name is rene Yosef and I'm a senior here at trade shift the webinar will be hosted by Christian yards LCC own he'll introduce you to trade shift in our business model before he hands over the record corporate director from ASP and HS Nick will present a case study on how he is using trade and the benefits they are receiving can remind get this time to please put your microphones on mute there will be time at the end for Q&A session so if you'd like to ask questions please use the live chat feature before I hand over to Christian I'd like to also welcome Pete Lachlan he'll be light-blocking on purchasing insight comm finally if you are tweeting please feel free to use the hashtag tswebinars I've been Christian hello everybody and welcome to the webinar we're very happy so many of you could show up so yes my name is Christian Yolandi I'm hitting up sales here at the trade shift I've been with the company for one and a half years I have a background from salesforce.com and from sa P so if there's anything I want to get out of this webinar is to get a message across to you that for the first time in many many years there's something completely new happening in the e invoicing industry so it's really important for me that when you leave the webinar and also in terms of the questions that you asked that it's you know focusing a lot on the business model and the way that we can do things differently because I think with the value proposition trade shift is bringing to the market combined with that has happened out that then I think that we'll be seeing a lot of disruptive initiatives going on in the industry in the coming years so let's try to keep this off so really if you think about this it's kind of crazy that today each day we are transmitting more than 300 we're sending or exchanging more than 300 million invoices and purchase orders and other business documents we have very advanced computer systems both from the supplier and the buyer side but still we choose a very old mechanism to transmit this data and we did a infographic in a June over the summer where we try to look at you know what are some of the cost and what are some of the implications of all this paper and that is being sent around and and some of the interesting findings here that we put together was basically that it takes an average 24 minutes to process a paper invoice and the average cost can really vary but on average that's around 20 euro and then another interesting finding is that a lot of the invoices that are issues issued contains a lot of mistakes and there's a lot of disputes and many companies most are most likely all companies are reassuring invoices so a lot of cost is really going into this process and then there's all the stuff start surrounding all the all the all the hard transactions so really all the all the communication so and we have found that approximately 1 out of 10 invoices there is a phone call and the most you know common question is have you received my invoice is it ok when am I going to get paid so all these generic types of the things which are kind of crazy because they are that's all already information that is in the finance system and then many businesses are right now out of sync because it takes a long time for the paper invoice to be in into the finance system so there's a lot of delay when you want repos and you're in going invoices and then of course there's the whole story regarding the carbon footprint so if we can build solution that would really take off in the market this could save the planet a lot of trees and ultimately a lot of good things will come from that time so I think we can all agree that this is a massive problem and and and the crazy thing is that you know why hasn't this been solved I mean we have been able to tack this for many many years so she basically take a look at the evolution of what has happened since we started printing paper invoices the ADA fact stand as they were introduced in the 80s and the 90s and a lot of OCR to golf in the 90s - we had the first trade portals and then something interesting started to happen in the beginning of 2000 where he invoicing networks like a reverb Aswan and OB tend to golf now you can basically say that since that time until today so for the past 10 years not a lot has really happened it's the same provide us in the market it's the same solutions and ultimately it's a lot of the same problems that we are facing right now and the founders of trade shift is something very special for the Danish government back in 2007 so they launched probably the world's first free really big scale invoicing Network and something really interesting happened because with the traditional networks we were used to adoption rates of 5% maximum 10 but in less than 10 months more than 25% of all Danish companies were part of the network so just by changing the charging model of the invoice or the network in making a cloud-based it was basically a they were basically able to get massive adoption on the the networks that was noted by the Commission in the Brussels so they were invited there because they started some work on a european-wide project called people and founders were then heading out your technical team there and when that went like they basically said well and something needs to happen that globally because this was just the beginning at the of the e-business and it was not a question of doing something in incremental abettor it was some it was about you know trying to disrupt this and really make it work because the adoption rates that we have seen so far I think we've just been too small so they basically launched rates it based on cloud technology to be able to make the transaction screen and then mix it with social networks to make it spread because the the interesting thing about the invoice is that in the pure so the so the basis of the invoice is that it's extremely viral if you receive an invoice also maybe you would have to send an invoice to in order not to go out of business so we view that as the perfect mechanism to grow the business network so really trade shift is all about cloud to lower cost to make it free and then it's about using a lot of the stuff that we know from the well-known social networks introduce them to the to the business side and then use that to make the network grow so try to take a quick glance at what are the other competitors in the market doing it's pretty well known that networks like Overton arriba Basra they are charging the bee suppliers a significant amount of money to participate but what that basically means is that only few of these suppliers can afford it this and will adopt a invoicing so when you look at a typical Arriba with 10 customer less than 5 to 10 percent of the suppliers on the network that they may account for as much as 50% of the volume but it still you know it so it's a one-way street and it's only for suppliers of a certain size what they don't cover is a lot of the cost that around a lot of the processes that's around the electronic invoice so a lot of the soft processes such as you know making sure that you get less phone calls making sure you can raise dispute on the on the on the platform so a lot of this stuff that surrounds that process is basically not covered by those networks and then there's another thing because probably more than 70% of the revenue are those companies come from the supplier fees so so what does that tell you well I guess one of the key questions you should ask yourself is you know how much cost are you first of all willing to push down on your vendor base because ultimately they would have to recur that cost somewhere and and and and you can be pretty sure that they'll be very clever about you know how can they how can they cover those cost indirectly and you know at the end of the day part of that will definitely end up at your own desk so at rates if we think that it was time to take a fresh look at the market and do something completely different and so what is trade ship well if you look at the business model it is completely different because we say that all transactions to send invoices in the platform is completely free so what does that mean well it means that we not only focus like the other networks to on making sure that you get a very high part of the volume by connecting suppliers of a certain size but we make sure that we can convert your supply turn into a real time Network by going after suppliers are basically any size so going with trade shift means that the number of suppliers will be dramatically higher than on any other networks while we at the same time cover at least the same number of invoices and most likely a lot more than the other networks would - that means that your internal business case will get a lot better and you will create a foundation for for doing other stuff in the future this is one of the things that we'll get back soon and then the relations to do suppliers I think this is another key thing because this is really an asset and you need to think about how you want to leverage that asset do you either wanna push down a poor system which means that the supplier will incur a large cost to submit invoices to you or would you rather use that asset for something more interesting like for instance increasing your payment terms or you know getting better deals with the with the vendor we think at the end of the day it's a question of making something better making or creating value for the suppliers as well as for you as an organization so why are we different so with trades if they're basically no barriers so we are we've worked very specifically on removing all the barriers that we have seen in the industry and one of them has been around cost it's very easy it's built like a social network so it's easy to connect to your to your business partner so it would be if you think about trade shift much like LinkedIn it would be as easy to connect to another company using trade shift as it would be to connect to our colleague using LinkedIn and then there is the whole collaboration and and an interaction that interaction platform which is part of it so you can you can collaborate and you can interact on the platform with your business partners but it doesn't stop there it's it's it's also a platform to extend business processes by activating apps for the suppliers of the u.s. a big organization if you have specific needs or specific apps that you want to that you want your supplier base are your customers to activate and this is something you can also build under on the platform so if we look at how the network works and you know how to achieve this is a viral platform this could for instance be us a big organization you would choose to go with friendship you will invite your suppliers on the network they would then start sending invoices to you in the format that you want to receive and but you know these guys they have seen that it has been very easy to connect to the platform it has been a lot less hassle than they have been used to with other networks there's no cost so they really see this as a key thing and since there is no cost there is an incentive for them to start sending invoices to other big clients - so as it has been in the past a lot of those suppliers would reactively sit and wait by the phone for their big clients to contact them and saying well now guess what now we have gone with Areva now we have gone with OB 10 and with other networks so you have to comply with with those formats and you have to submit electronic invoices to me using trade shift a lot of your suppliers will then use the prac platform to proactively promote electronic invoicing to the entire customer base in wall now it's possible for us to submit a electronic invoices completely free of charge but but it doesn't really stop there because a lot of these guys so your suppliers of a certain science they have seen how easy it has been for you to roll out electronic invoice programs and what the adoption rate was so of course they want to pick up a similar business case so they would invite their supplier base - and this is basically how the network grows and so the model has been running for a year and a half now and is proven so in less than 15 months we have spread to two 190 countries so we started out in six European countries and what happened was that the platform went viral so companies in those countries started to invite other business partners in other come in other countries and and that is basically how the network grows so today we are more than 60,000 companies in the network and we are growing with approximately 2,000 companies each week and we've had a lot of tractions within the corporate space or our enterprise customers Kuehne + Nagel big client adit ftu French government USB and then NHS which we are going to hear from in just a few more minutes so what is it that trade shift offers so this is our business cloud as we call it so if you look on invoicing on the upper left side invoicing branch management business viable firewall and archiving those are all components of our core in invoicing products so of course it's possible for all your suppliers to submit free invoicing frameworks to you we map your branches so this is really how we setup your organization so all the legal entities under Network business firewall that's all about the ability for you to push out validation rules to use the plans making sure that the data quality that you get in is of the quality that you basically want so you have much fewer problems with the incoming invoices and the number of mistakes will will decrease so the good thing about business firewall is that that can be all the validation rules they can be targeted to different supplier segments so it could be that's the price of a certain science you can have most strict rules whereas suppliers that are that are really small you want to have more loose rules and then of course we do accounting and we have a lot of product products on top of a conversing so for instance purchase orders we can send out electronic purchase orders we have flipped functionality and then one of the things that is key when you run a network is the ability to update master data so since all your suppliers will be running your own or their own profile on the network then they would maintain all their own master data so emails and so on you can update on that but you could also choose if you look at the lower left corner to build a custom map it could be that your specific requirements for additional master data so you build an app and you activate that app for your supplier base and they would be required to fill out that master data and you can subscribe to that - it could be priceless ecat alocs and things like that and then we also run financing so we do supply chain financing and other financial products that again incentivize the suppliers to submit electronically and move into the network now there's no question that you can build a good business case around electronic invoicing but really this is for us a mechanism to grow through your network because I think when you run a real-time global network then you are suddenly in a position where you can do a lot of additional things that where you can build a much more attractive business case so for instance regarding financing for instance regarding master data management and so on so in terms of unfolding and this is key for you to receive the return on investment that you're looking for and if you look across all global companies then basically less than 5% of all companies came today to electronic invoicing and we believe with the right platform that it should be possible for everybody to to get those two to 100% electronic invoicing we should enable you to communicate real-time on the platform so again for us it's not only a question of making sure that the suppliers that are really big will submit electronically but again it's a question of making sure that almost every single supplier that you have will be under platform because only by making sure they are under platform you would be able to do more advanced stuff in the in the future so always have a vision talk to the supplier about what is the vision for doing more advanced often just making sure that you get the electronic invoicing so again what we have done in order to achieve adoption rates that are much much higher than you have been used to seeing in the industry is that we've worked with the technical barriers to integrate so there are basically four simple ways you can you can integrate with the trade shift either you can use our web interface this is for supplies that are really small the connectors is something that we focus on a lot so we have connectors for all the big accounting systems out there and big organizations they can choose to enterprise to our API or they can use SFTP to to transmit the electronic invoicing to us and finally if you don't want to do any of those paths then we have a partner paid option where you can map your format for a fixed fee of 800 years and once you have mapped at once then is completely free again to submit invoices through the platform what all this means is that basically with the trader platform what we're seeing and which you will hear from NHS also is that you would get approximately 20 to 40% supplier uptake only after four weeks and the campaigns that you would be running and I think these are numbers that you should bring to other suppliers in the market and then ask them what kind of numbers can can you expect if you are non boarding campaigns with other companies in the market and then finally we are running this proven onboarding models we have built a lot of technology that supports the onboarding process so it basically means that we can monitor the entire onboarding process and you would have dashboard so you can see how many have on board and you would be able from the platform where you upload all your master data to run the campaigns and then doing follow-up activities again maximizing the number companies that you can online so that was basically it for me now I will like to introduce Nick wood from ASP so Nick over to you Thank You Christian first of all I would like to explain a little bit about and lease for partnership the fact the shared services organization was founded in 2002 we are part of the NHS we have an annual turnover in the region of 36 million and approximately 600 staff and we offer a broad range of support services to the NHS the traditional transactional services finance finance systems and payroll estates and property management ICT and patient meals and whilst our customer base is primarily within the National Health Service we do have some customers outside of that and it is our ambition to be able to provide shared services to the broader public set to market a current customer base within the NHS is 49 organizations again primarily across the East of England and we support the variety of NHS organisations you can see on the slide but in addition to that community interest companies and as I say doing some work within the local government and further education market with particular reference to trade shift and the financial services we provide that to 17 NHS organisations we deliver the financial services from two bases one in Essex and one in Huntingdon near Cambridge annually we process in excess of four hundred and fifty thousand invoices and have a supplier database across the 17 organizations in excess of 10,000 we use the capita IV solutions Integra finance system and that is common across all of our customers as part of that we offer electronic purchase to pay pro system and where customers use that and using voice in voice and order creation then we could receive notes and the receipt of invoices we can automatically match for those invoices receive that not against the order then we use automated workflows in order to forward those to relevant manager for authorization all invoices are scanned to may enable an image to be made available to the end user and currently we use two methods either manual input traditional manual in book importer in for data or we use OCR the Integra product in order to get some efficiencies from that from that particular way of importing so why did we look at invoicing well we were looking to reduce the burden of handling invoices as crisps and as already outlined handling paper is expensive it's also time consuming we were looking to reduce the time delay in receipt of invoices reducing the transactional cost creating efficiency savings therefore and also cost savings to pass back to our NHS customers and therefore releasing funds back to from our care but also a big thing for us is that we are in a competitive fair services market and we're always keen for ASP to be at the more competitive end of that market because our business strategy is to continue to grow and win new business so why did we consider and eventually decide to go with trade fift we did actually review several solutions and undertook a feasibility study into the different products up in the market I think the key thing for us we wanted something that was simple for suppliers to use we wanted to with having 10,000 suppliers we wanted to make sure that we got a lot of supplies on board so we were also in in looking at the return on investment wanting to make sure that the overall cost of the solution both for the supplier and or ASP there it was cost-effective a number of those solutions that we looked at the actual cost to the supplier was high and in reality if there's a cost to the supplier the end result is that that is nearly always passed back to the customer so we wanted to make the supplier try looking for a solution that was cheap and effective for the supplier and with the the trade shift solution as we've seen earlier and he's mainly free although there is a the one paper paper used offer the big thing for us as well is the trade shift communication which supplies with having a lot of suppliers to communicate with part of the service offer is for them to do that and the other aspect for us was the system integration into our general ledger system because again we wanted we didn't want to have to handle any data we just wanted it to populate straight into our general ledger system so for us in looking at the business case in the first year we believe we will save one whole time equivalent our medium-term goal is to get at least 70% of transactions processed through enforcing I know crystal will say that hundred percent is the target we were probably being a bit more Rick we're pessimistic in looking to get 70% and through but we believe if we can get that we will have account savings in the region of five whole term equivalents we recognize that in moving towards the trade 50 invoicing solution that will lead to a diminishing use of OCR and we hope the end of the day very limited manual in four for us that return on investment savings that which are made for passing back to an interest clients was a big driver and we believe as well that it's actually an attractive service for our potential customers but also the suppliers that we're looking to do business with because we part of the other service offer from ISPs around purchasing and procurement and actually that supplier negotiation aspect and linking with supplies is a key part of our business strategy how long does all this take well in terms of our town table we had an initial technical discussion in April with trade shift third of my agreed the validation rules that were needed to be applied for supplies to use while the end of May we agreed the content of the emails that needed to go out sent out a first test email in mid-june we then did a trade shifted initial awareness email was sent out to supplies on 20th June and the big launch to around 3,600 customers on the 1st of July and I think looking at the stats and what we were pleased with is that from those 3600 we've had 29% on boarding and the graph in front of you shows that week by week the take-up and actually that was increasing but actually get 9% he we won was somewhat astonishing for us but actually I think he's is repeated by other organizations who have taken on the trade shift product so the percentage of increase in invoices that we're receiving back from kickoff we've had a week-by-week increase in the number of invoices that we are receiving electronically I think it's fair to say that the initial response has been good and we're looking forward for it to the numbers to actually be growing more and more over the coming weeks if he's still relatively early days were only a week week five now so you know time will tell but I'm sure and confident that this is a success for us so moving on to the benefits to us and what we are we starting to see then yes the reduction in manual input the improved accuracy the importing errors will not be there the reduction in phone calls from suppliers will start to come through in terms of have you received my invoice where is the status of my invoice because part of the solution does offer the opportunity for suppliers to have access to invoice status the validation rules that we set up ensure that the correct data is on is on the invoice to start with and then of course we do get the sustainability agenda addressed reduction in the carbon footprint from the reduced paper the costs of sending invoices to us we haven't got to scan them etc and subsequently shred the paper copies reduced cost per transaction which is something that we all drive for and look to continually be more competitive and it should lead to greater prompt payment of invoices certainly for those in the public sector who have target to pay invoices promptly then that will also be a benefit thinking from the supply side because as I said earlier key thing for us was to have a solution that was cost effective for both ourselves and suppliers is the invoicing is free to the supplier they have reduced postal cost they know that the invoices that they send in meet our validation rules hit our system no need to resend those in they know that we've got them supplies are able to check the status of invoices themselves so again it's a self-service aspect the invoices will be paid more promptly and the other benefits for suppliers is that they can use look to use the trade shift product in other areas as Cristiano outlined they master file update master file maintenance is a key area that we want to look at next and work with suppliers on in order to again minimize the interaction or paper interaction telephone interaction with us suppliers can use the system more broadly than just invoicing and of course they can use it not just in their transactions with us but their other customers as well I think the those other trade shift business applications are something that we want to explore once we're fully on board the AP side of things because we're cells on behalf of our customers send out invitations is we want to be using the this from the our accounts receivable side and we sending out invoices to customers as well so to summarize for us there was a very sound business case that provided a trust effective solution for both ourselves and suppliers I have to say that it has been a very positive working relationship with trade fift and that and that's been excellent it will generate savings for ourselves which will be passed on to customers and as I say looking to use the further business applications that trades with offer is if something that we will be picking up with next so for me I suppose you know the trade fifth offer you know has that sort of overall compelling answer that we were looking for in that a high percentage to come through the invoicing route it will give suppliers and ourselves real time data and there is that potential to have the master file data updated by suppliers you know which will be of mutual benefit and you know the key thing is getting a large number of your suppliers on on board with this 5% doesn't really drop the mustard we're at 29% with a you know real expectation of they fit in the 70 80 percent that were targeting that's the end of my thoughts around trade shift happy now along with Christian to take questions and we hope to respond appropriately to you move into the questions and I just want to walk through so I think this is very compelling story that Nick had to share and I think this this really underlines the fact that trade shift has brought a very compelling and a completely new business model to the market removing a lot of the barriers that we have seen in the market so casters of course one thing it's it's the ability for the suppliers to do more with the platform then then just to submit invoicing a lot of these suppliers out there they have been forced onto a lot of different solution by the different big customers that they have I think you know with the treacherous platform what is key to the surprises that they can use trade ships to invoice any company out there and I think this is and also you know allowing us the buyer to to make a lot of the information that you have in your accounting system visible to them so that they always know what is the status of the invoice so yeah just going one side back here okay so so so so basically we see a lot of clients that are that are using trade shift basically as the only network and and and and I think you know what what is key here is that if you do like ASP and you choose trades that's the primary net where you can definitely do that but if you're in a situation where you have already work with a rebo which I know that's why but you have not really seen the adoption rates that you were expecting and then you can still work with the trade shift so so we can help you get the adoption rate up and you can use trade shift with the segments of suppliers where you don't really have any any traction right now because we can work with with with any size of suppliers really big one and we and we fully appreciate and we agree with all the other networks that is key for you to unboard suppliers that have very high volume because that's going to be a significant part of your business case but it's not the only surprise you should target it is key that you start thinking about what is the vision here what what is the next step after you have managed to get electronic invoicing what is it that you want to do then and then it's the thing about getting the the real-time connectivity to your supplier base so you're able to do more stuff I mean think about the business case you can get with supplies and financing pandemic discount these kind of things one of the reasons why those systems so far have not really taken off that is because it's been so difficult for those organizations who have offered this to get access to the workflow systems on both science barramundi supplier and the biosign well traces we are we are doing that anyway so that's why you need to find solutions out there that can help you connect to suppliers of any size so you position yourself first off you would pick the figure out the business case that you get from electronic invoice but then keep the focus on what is what is next what is the vision you would be looking for so if there's with one piece of advice I would give to you is that ultimately you're probably going to end up in a situation when you're going to go into the mag and figure out who you are who you're going to work with then when you compare trade ship to other organizations and when you look at electronic invoicing keep in mind that it's a question of connecting suppliers of any size it's not only the big one as I've mentioned it's basically everybody and especially you and then make sure that you involve the suppliers in the selection process I mean how often have you have you acquired software tools internally where you have not asked the users while with tool are you going to use which tool would work best for you I think this is one of the reason why Salesforce has so much success right now is because they have built technology that the users want to use so they add value and it's the complete same thing with electronic invoicing now the problem is that the users of the tool are really not within the organization that's the suppliers so what we always say is make sure that you involve them and especially if you are evaluating more than one system make sure that you make take one day out of your calendar invite suppliers of different sizes so take two lives to mid size and two small ones get them into your organization and let them meet the supplier and let them see the tools let them understand what the implications of electronic invoicing is for them and then let the supplier explain to them what is the benefit and what is the pros and the cons of the system and get the input for these suppliers because not by not getting that input you you have a big risk that you're going to introduce in your role rolling out technology that these suppliers are never going to use and at the end of the day it ties back to the to the to the positive feedback loops like where we discussed you know what how do you wanna how do you want to use the the assets that you have with your supplier base do you want to use that asset to you know bring in a system that doesn't really work for them or do you want to use that asset to maybe increase payment times I mean this is this is what you need to keep in mind and URI is a result of your unfolding success if you're not unfolding and you don't get the documents and then you then your business case is gonna fall apart and I think it is really key that that you think about what is the kind of tool that your supplier base wanna use and then the final point is when you do your cost analysis keep in mind that you look at the entire cost picture this is not only a question at the cost of you're gonna pay for this look at the cost that that your supply chain are gonna incur again a lot of the established payers collect more than 70% of the revenues from the supplier base and I think you can rest assure that you supplies they are not going to see their profits going inbound because you are promoting electronic invoicing they are going to try to collect that cost that they incur because you are rolling out richer or a tronic invoicing system somewhere so always look at the cost on their both sides and with that I think we're gonna open up for questions and I'm just gonna make sure that Nick can be online as well I can start out because there were a few questions here regarding tax compliance and the ability for us to provide digital signatures so yes this is something trade shift works on the question was basically are we tax compliant in all 190 countries unfortunately not to be honest it was a bit of a surprise with the speed we didn't really when we launched straight you saw that 15 months later we would be active in 190 countries we are tax compliant in 35 countries as of today we offer digital signatures and we use PricewaterhouseCoopers as our accounting company to support us under that path then there was a question of ASAP we have a certified connector to ASAP so suppliers or cause of bias whoever you are if you don't want to do the integration to our API on your own a lot of big companies would prefer that because they are big as ap departments but but if you don't want that we offer a ASAP certified connector at a fixed cost of 500 euro per month then there was a question regarding where we get our revenue from and I think you know that that's a pretty good question now we have talked about it we do a lot of stuff free of charge and trade shift there is a cost to receiving voices that cost is approximately similar to what you would find for big companies like Obie 10 a rebirth fast buy those kind of companies so on the buyer side we have similar cost structures and the difference between them and us is that they would get 70% of their revenues then from the supplier side we don't get any any revenue for the electronic invoicing at that time so one thing of course is that we need to collect that revenue somewhere now we have a couple of distinguish your streams so first of all we do a lot of additional stuffs that we sell to big enterprises so for instant master data management purchase orders custom apps those kind of things that's one revenue stream the second revenue streams is then apps so we have a lot of big partners that are building applications and offering that on the network so a lot of companies take the bet that to achieve will be the de facto standard for in within business network and therefore it can be attractive to build applications on the network and then offer that to these to the network so that's become peers like I'm impressed with Hulu those those kind of companies and then the final revenue stream is financial apps so we are bringing out or we have brought out supply chain financing and there is a whole range of different applications within this base that we can bring to the market but again you know you have to think about the cost structure here the constructor of running of Amazon on an optimized third-generation cloud platform is completely different from running on mainframe so I think it's a combination of having different revenue streams but at the same time having a different cost structure then there was a question regarding smaller and larger organizations on the ASP implementation where they saw the the object first and Nick you can also comment but maybe I can just kick it off in this yes it is clear that with a very steep onboarding of 29% of the suppliers within four weeks then it's obvious that a lot of those users on the web platform and that's also why we are seeing a bit delay in the big uptake on the number of invoices because those suppliers and with with much higher volumes they are connecting using SFTP adapters making the integration to stretch it on their own so so so the 29% is a combination but it is more web users than it is big companies and obviously that makes sense because if you look at digital distribution on the supplier base then of course you have a lot more smaller companies then you have bigger companies but HP Nick correct me if I'm wrong but you're also seeing a lot of uptake on yeah we've had a good response across all sizes of organization really but you're right to say that a key feature of this is the 80% of suppliers who are always difficult to get at and the smaller actions are significantly interested in see the benefit of this so there is a good mix and as you say with the really big ones there they're not using the web side of things at the moment but we will you know we feel it's a really good take up so far yeah so then there is a question regarding where inverse validations are occur and inverse validation is something that we have pushed out so we make sure that the invoice validates before you receive it so basically we'll push that out on the website or the web interface when the invoice is created but if you run an accounting system let's say for instance you have a validation rule saying that you need to put in a a purchase order number and you don't have that feature in your accounting system or you forget to put that in and you send that by the SFTP server and then you will get a notification back on the SFTP server saying that you did not put in the PIO number so we cannot accept that invoice and there is a email workflow connected to that so it is not that you have would have to go to the FTP server this is something that we also do on an email basis then there's been a few questions regarding the your presentation and you know an information pack and we'll send out an email with the link so it will be possible to download all that information and of course everybody will be more than happy to go into more detail this has been we've just scratched the surface here so of course there's a lot more to it and to everybody who would like to have more information we can definitely do that oh do you base your percentage enrollment for each week on your total ap invoice volume okay so the way we have calculated that is is basically a percentage of the campaign that has been sent out so mix that for the first campaign that was three thousand six hundred suppliers yeah we had in there and then is twenty nine percent out of those so the way we would typically do this is that we would send out chunks so for instance a campaign could be to a supplier base of let's say five thousand and and and then it would be a percentage of that number we have covered the cost for the invoice recipient yeah so then there was a question of how did we get email addresses for a hundred percent of your suppliers now in the case of ASP they've been very good they have had a lot of data they have not had all of it so of course there is a process here but what we typically do in the sales cycle is that we early on encourage the prospect to you know start that process because as a property is in most organization they don't have email addresses for the entire supplier base so this is typically something that we say that whether you would go with trade shift or with somebody else this is data that you basically need we also run a service where we can collect those but we would really prefer that this is a process that start internally early on when you know that you're going to be in Ian motion because that's going to benefit you whether you go with just to say the - path point of view they we had email addresses certainly for the purchasing side because we email orders to suppliers and also for remitting since we've been using email addresses to send that remittance advices for many years as well although in reality not a hundred percent coverage so we had to do some additional work to to get email addresses for companies okay so there's another question for you Nick for ASP have any supplies refused to move to be invoicing with redshift and if so why we haven't had any experience they stage or feedback saying no there are aware of so yeah the answer to that is no at this stage I think there is something again in the maybe the message that we used to send out to supplies just I think what we want to do is to more than encourage suppliers to go down this route and the wording of the email I think is important because we want to move to the point where you know we're saying that to do business with ASP or asp.net to go down yeah so there's another question Nick here it says you're 29% of the invoices how many suppliers in percent and I think just to clarify this so the twenty nine percent that is the number of suppliers and I think this is probably confusion because it's probably difficult to grab to a grasp that is twenty nine percent of the supplier page because typically you would see five to ten percent after maybe two or three or even more years yes well that's twenty that is twenty nine percent of the three thousand six hundred companies that were in the first phase email and so we're looking at you know you know roughly a thousand or fifty you're on board straight away or within four weeks so I think you know one other point regarding that is this is based on one invitation letter one invitation email so we have not in the unfolding tool we have the possibility to track very specifically which organizations have on board which one have opened the email which ones have tried to register but didn't run through the entire registration process so this is without any follow-up activity whatsoever so we have a lot of plan emails where we follow up with the that are specified to the different groups that are really with the tailor messaging that means that we are able to increase that percentage is significant when we Christian just sort of come back on the previous question about us any suppliers said no I think just from if there are any other NHS organisations out there one thing that we've been conscious of is personally identifiable data particularly patient data at this point of time we've not focused on those areas of drawers because we're concerned just about that and that information being transmitted via this route yeah okay but I think we are running out of time but I just want to thank everyone to participate there's one more thing we are running a survey on invoicing trends so if you have a couple of spare minutes we would very much encourage you to go to surveymonkey.com /s /t trade shift and fill out that survey that would be to mutual benefits because of course we are using that in our vision to really drive our vision and to make this even better than it is right now but otherwise I just want to thank everybody we are going to send out an email with with with a link so you would be able to download the presentation and if you have any additional questions feel free to reach out my email address is chj at redshifts calm and yeah and Nik thank you very much for participating and thanks everybody for being part of this very interesting webinar thank you very much bye