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By implementing Wax Digital web3 P2P (Purchase to Pay), the 3,000 employees of Nissan Europe will be able to raise requisitions electronically, ensure they are authorised and approved according to stringent corporate guidelines and issue approved orders automatically to suppliers.
This financial and procurement overhaul across Europe and beyond forms an integral part of its Nissan Power 88, a strategy through which the company aims to increase both its global market share and corporate operating profit to eight percent by 2016.
The web3 solution is being deployed across 16 core territories Nissan has in Europe, both at its business units and manufacturing plants; supporting multiple languages and currencies and processing the 600,000 invoices produced each year.
Nissan Europe’s Purchase Systems Development Manager, Barry Wilmer explained:
“We have had an ambition for a number of years now to move all our European operations to a common eProcurement platform that can transform our purchasing and finance processes for both our purchasers and suppliers.
“In Wax Digital web3 we’re confident that we’ve now found a system and a supplier than can improve the way we do business with our supply chain across Europe and drive significant process efficiencies, controls and savings.”
A sentiment shared by Nissan Europe’s Finance Process Control Leader, Michael Brook:
“Moving from traditional paper and email based purchasing and accounts payable processes to the Wax Digital web3 portal-based system will provide significant benefits to both Nissan and our suppliers.
“The functionality and controls that Wax Digital web3 provides covering new supplier set-ups, approvals, expenditure recording and reporting certainly look impressive.”
Selecting the web3 platform for its comprehensive features, flexibility, intuitiveness and ease-of-use, as well as Wax Digital’s expertise in integrating the system with SAP and mainframe back office systems.
Business Development Director, Wax Digital, Daniel Ball commented:
“We’re very excited to be working with another fantastic brand like Nissan. Everything about this project is big, from number of users, territories and suppliers to spend under management; so there are some great opportunities for process improvement and bottom-line savings.
“Intuitive user experience is critical to purchasing control and compliance – that is what web3 is all about.”