Control and visibility of Purchase to Pay process saves costs for ETEL
About the Client
European Tyre Enterprise Limited (ETEL) is the parent company of the Kwik-Fit Group and Stapleton’s (Tyre Services). The principal activities of the group are the wholesale, distribution and retail of passenger and commercial vehicle tyres and automotive repair and servicing activities.
ETEL has a combined turnover of nearly £1bn and its long-term growth is based both on acquisition and on other key opportunities to deliver significant value within the sector.
ETEL wanted better visibility of spend and greater financial synergy across their two brands Kwik Fit and Stapleton’s (Tyre Services), both of which had been acquired by ETEL in 2011.
Following the acquisitions a shared Finance Department, which was put in place to oversee both brands, was experiencing a number of challenges around control and visibility of the expenses cycle. This was specifically around non-related stock items which covered things like corporate brand clothing, consumables for the retail centres such as vending and coffee machine refills and commercial vehicle repairs.
Expenses were being committed to and invoices submitted without a corresponding purchase order.
These spend management issues had existed prior to the acquisitions as neither organisation had appropriate ordering systems for non-stock items.
Following a tender process, Coupa was selected as the preferred Purchase to Pay solution for its user friendly interface and the flexibility of its functionality.
Xoomworks Procurement was selected as its implementation partner following a referral by Coupa.
Coupa Purchase to Pay was deployed and the project teams came together with kickoff workshops so that priorities could be established. With the project teams engaged the project was swift to be realised.
ETEL has gained visibility and control of its procurement systems and met a number of its business drivers by implementing Coupa with Xoomworks’ support. Response from both internal staff and from suppliers has been overwhelmingly positive.
“Although they are Xoomworks consultants, I felt they had our company’s interests at heart, they cared and wanted us to succeed, so we felt like they were working for us.” Sharon Dopran, ETEL Group Finance Controller
To learn more about the project and the benefits we helped the client achieve, download the client story.