Out to revolutionize the procure-to-pay industry since 2005, Transcepta has expanded like no other business network to exceed customer and supplier expectations. The past year was no exception in this regard. As a result, 2012 yielded exceptional results for the company. Transcepta recently announced:
- Membership in the Transcepta network doubled,
- Transaction volume over the Transcepta Network increased by 200 percent year-over-year, and
- Transcepta revenue grew by over 30 percent year-over-year
In 2012, Transcepta procure-to-pay technology and cutting edge on-boarding programs motivated new customers to choose Transcepta when initiating or upgrading Accounts Payable and Procurement automation projects. Some of these customers who had previously used competing networks decided to take their existing operations to the next level by moving to Transcepta.
Among these converts to Transcepta were global Fortune 500 retail, technology, financial services, and manufacturing companies seeking to enable a variety of business solutions, including e-invoicing, spend management, VAT compliance, supplier information management, and electronic PO delivery.
Key to Transcepta’s success is its ability to maximize supplier adoption. Rather than require suppliers to pay fees, use time-consuming manual portals, and participate in data-mapping projects that require IT resources, Transcepta makes supplier membership fast, free, and easy. In 2012:
- Transcepta was the first business network to move to the free-supplier model, thereby eliminating the most significant cause of friction during the on-boarding process and facilitating supplier enrollment.
- Technological advancements made it possible for suppliers to use their existing systems and invoice layouts without modification when transmitting data to their buyers over the Transcepta Network—unlike competing networks that still require suppliers to key their information into web portals.
Click here to view the entire Transcepta press release.
Stay tuned to PayStream’s upcoming research to learn more about Transcepta’s Procure-to-Pay technology. The company will be featured in PayStream’s Q1 Electronic Invoice Benchmark report.
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