Home / Knowledge / News / Information Technology / IBM to automate Tommy Hilfiger's payments process
IBM to automate Tommy Hilfiger's payments process
15
Nov '10
From the Smarter Industries Symposium in Barcelona, Spain, IBM announced Tommy Hilfiger Europe has selected an electronic invoicing software from IBM to reduce the cost of cross-border and domestic trading by automating its electronic invoicing processes.

Tommy Hilfiger's accounts receivable department processes more than 30,000 invoices per month from 4,000 customers. The company wanted to improve profits by ensuring all invoices are processed accurately in order to be paid on-time and in-full. An end-to-end audit of accounts receivables processes found that invoices cost approximately one Euro each to print and post internationally. Additional costs were incurred in the manual process through lost receipts and man-hours needed to rectify errors and locate receipts.

To achieve its objectives, Tommy Hilfiger adopted software from Sterling Commerce, an IBM company, to automate its payments process, reduce the error rate in its invoice handling and speed up payments.

"To us, e-invoicing is the future of invoicing and we wish to be among the first companies in our industry to offer this service to our customers," said Frederick Kolff, vice president of Credit Management, Tommy Hilfiger.

"Software from Sterling Commerce offers a terrific solution that improves the speed, accuracy and efficiency of our invoicing process and ensures compliance with all safety and auditing regulations in the various countries where we operate. As a result, our invoicing costs will reduce and our days sales outstanding will improve. Equally important to us is that we can have a positive impact on the environment from e-invoicing due to the huge amount of paper we will save."

The software, Sterling e-Invoicing, ensures automated tax and regulatory compliance across multiple countries. The system also archives invoices to meet specific country requirements, offers audit and reporting tools to accommodate tax authorities' audit and inquiry demands and provides signed PDF authentication and non-repudiation services globally. Sterling e-Invoicing can be deployed on-premise or as-a-service. Tommy Hilfiger opted for the on-premise Sterling e-Invoicing deployment to integrate tightly into its SAP system.

IBM Corporation

Must ReadView All

Textiles | On 8th Dec 2016

China’s economy on track to meet growth expectations

China’s GDP has grown at 6.7 per cent in the first three quarters of...

SSM TK2-20 CT

Textiles | On 8th Dec 2016

SSM shows winding & air-texturing machines at India ITME

SSM (Schärer Schweiter Mettler AG), a leader in yarn processing and...

Textiles | On 7th Dec 2016

New Texprocil chairman bats for increased UPI adoption

Ujwal Lahoti, the new Cotton Textile Export Promotion Council...

Interviews View All

Abhimanyu Singh Rathore & Barbara Anna Kosiorek
Kannbar

‘Blending cultures is the true beauty of fashion, where one’s imagination...

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Victor Chao
Esmetex

‘In future, clothing boundary lines will become increasingly blurred.’

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
December 2016

December 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


Advanced Search