Thermo Fisher Scientific increases AP productivity by 37% with e-invoicing

The success of Fisher Scientific Europe with invoice automation can be attributed to the full commitment of its AP department to partnering with Tungsten Network to onboard its suppliers and work with other company stakeholders to advance understanding of the benefits of digitisation.

Overview

Thermo Fisher Scientific (TFS) is “the world leader in serving science,” dedicated to improving the human condition through the provision of scientific instrumentation, reagents and consumables, and software and services to healthcare, life science and other laboratories in academia, government and industry. Created in 2006 through the merger of Thermo Electron and Fisher Scientific, the Waltham, MA-based multinational corporation employs more than 75,000 people in 250 countries. Its annual revenue now exceeds $25 billion.

Fisher Scientific Europe initially utilized Tungsten Network solutions to inform and guide P2P efforts across its European offices, which lacked uniformity and efficiency.

More recently, Fisher Scientific Europe began experiencing difficulty adhering to changing country and industry specific mandates. Led by Fabienne Pierrot, Finance Director, Accounting and Audit, Thermo Fisher Scientific began working with Tungsten Network to better automate and digitise their regulatory compliance efforts.

Download the case study for more details

Results

75%
suppliers on the Tungsten Network
50%
using e-invoicing in three years
37%
increased productivity in four years

“After Tungsten implementation, we experienced a vast reduction in the number of suppliers requiring support regarding lost or unpaid invoices. All Tungsten suppliers’ invoices are paid on time. Partnering with Tungsten has allowed the strategy in the AP team to move from a transactional focus to an analytical one, and my team is working on projects that add real value to the organization.”

Fabienne Pierrot, Finance Director, Accounting & Audit, Thermo Fisher Scientific

Interested in learning more?

Explore our suite of AP & AR solutions, and continue your journey towards achieving world-class performance.

Solutions & Resources

Ingyenes konzultáció beütemezése

Felépítettük a világ legnagyobb, jogszabályoknak megfelelő üzleti tranzakciós hálózatát, így támogatva a globális vállalkozásokat a világszínvonalú teljesítmény felé vezető útjukon.

Kezdje meg útját még ma!

Kapcsolat