Buyer Success Story – CONSOL Energy
CONSOL Energy: $65M ROI in Under 5 Years
In 2008, this Fortune 500 energy giant, CONSOL Energy, Inc., was faced with a problem. The purchase to pay process had too many touch points, spend was maverick, reporting was patchy and unreliable, and the invoicing process was manual and inefficient. It meant finance couldn’t properly support and serve the business. And for a company in acquisition mode, this presented a wider problem: the inability to scale.
Roll on 2013, and the situation looks significantly different.
- Delivered $65 million in cost saving and ROI for e-Procurement/SRM project in 5 years
- Doubled spend being captured at requisition
- Increased first time match rate from 40% to world class 96%
- Doubled invoice volume from acquisitions while decreasing staff