Screwfix adopts PROACTIS Supplier Network technology

PROACTIS, a global Spend Control and eProcurement solution provider, is pleased to announce that Screwfix has selected the PROACTIS Supplier Network technology to improve the efficiency of trading with its suppliers through streamlined invoice handling and web-based supplier interaction.

Paper form purchase invoices will continue to be processed through the existing managed service agreement while suppliers will be engaged and encouraged to drive more electronic invoicing through a joint, structured approach using the PROACTIS Supplier Network technology which offers:

- A full range of electronic invoice methods for all suppliers to adopt, increasing Screwfix's and their own efficiency by streamlining invoice handling
- An online communication and status visibility built in throughout the process to efficiently involve suppliers on a self-service basis to streamline communication
- An optional Accelerated Payment Facility ("APF"), enabling suppliers fast access to an early payment to support their own economic situation, whether that be to fund growth or manage cash flow

Screwfix is the UK's largest multi-channel retailer of trade tools, accessories and hardware products and is part of Kingfisher plc. It has over 2,000 active suppliers and has an annual bought in spend of over half a billion pounds per annum.

Paul Roy, Director of Operational Finance at Screwfix, commented: "The existing PROACTIS solution has already delivered tangible savings for Screwfix. The industry recognition it has also received pays testament to the close and successful working relationship. The PROACTIS Supplier Network will introduce advancements that we are very excited about including a platform that will deliver efficiency improvements, advanced supplier collaboration and innovative invoicing technologies."

Rod Jones, Chief Executive at PROACTIS, commented: "Screwfix is a rapidly growing organisation with a highly diverse supply chain and represents exactly the type of customer that will benefit from our supplier network technology. I'm absolutely delighted that Screwfix have recognised that the framework of advanced technologies and managed services that we provide can assist them in improving the efficiency of their supplier interaction and reduce complexity and cost of their purchasing processes whilst providing value to their suppliers."

Source : Proactis News Release
www.proactis.com/About/News/2015/October/Screwfix-Adopts-the-PROACTIS-Supplier-Network