i2B Procure to Pay Software
Case Study: Weir Valves & Controls
The Company
Engineering giant, Weir Valves & Controls (WVC) is a global company specialising in critical service and isolation valves designed to support regulatory compliance and best practice in power generation, oil and gas safety.
It provides market-leading products for the most technically demanding environments, including nuclear and subsea applications, employing 14,000 people in over 70 countries.
The Problem
WVC approached i2B as it needed to provide up real time information to their global supplier base.
After running an internal study, WVC found that suppliers weren’t satisfied with the service they were receiving –so things needed to change.
There were delays in auctioning queries, many items were being rejected by WVC because suppliers weren’t always working to the latest drawing specs – things were generally behind schedule.
On top of the supplier issues, Weir Group were in the process of a major restructure and it needed a purchase to pay software solution that could adapt to its changing requirements. It also needed to find a way of reducing the non value added tasks from purchasing, without compromising on their service to both suppliers and customers alike.
The Solution
The management team at WVC decided to look externally for a purchase to pay software solution that would enable them to track their 20,000 purchase orders while ensuring suppliers had access to the latest drawings, technical specifications and bill of materials.
They soon decided that i2B Connect was the most comprehensive and cost-effective option for the company, and chose to implement it in phases to ease suppliers into the new purchasing process.
The first phase was to set up a pilot system to build confidence in the system for both suppliers and internal purchasing staff. The pilot helped familiarise the participants with the main functions of the system and gave them confidence in using it on a day to day basis. WVC recognised that end-user training was not going to be necessary due to the simplicity and user-friendly nature of the platform.
The next phase involved full implementation of the modules required, which took just 20 days to complete.
In October 2015 its 2 Millionth purchase order was passed through i2B after a global rollout into 18 countries.
The cost savings were immediate to WVC as traditionally they sent purchase orders by post or fax, and often had to follow up with more than one email or phone call. Replacing this with electronic documentation and amend tracking saved WVC and their suppliers a considerable amount of time, and stress, every day.
WVCs buyers also has the added benefit of knowing that an order had been viewed and accepted by the supplier in real time and that they were working to the latest drawings and specifications.
Weir Testimonial
i2B Connect saves us a huge amount of time and money which we used to waste on printing and then faxing RFQs, purchase orders and associated documentation. It’s also very good value for money for the service we get.
Phil Myers
Weir Valves & Controls UK Ltd.