Calgary-based Husky Energy, one of Canada’s largest energy companies reported recently on its flagship e-procurement contract with Cortex Business Solutions. Six months into the Husky Procurement System Optimization (HPSO) project, Husky’s suppliers have been working with Cortex to optimize and automate the procurement and payment processes. By early 2009, over 1,000 suppliers were participating in the initiative.
Husky has now expanded the initiative and now requires all its Canadian business units and their suppliers to adopt the Cortex solution. By midyear 2009, this will include material suppliers and suppliers using Cortex’ non purchase order process. Requests for quotation and proposals will likewise leverage the Cortex solution as a mandatory condition of award. Husky’s goal is to ‘achieve and sustain procurement and payment automation across all business units and suppliers.
The system is now processing 30,000 receipts and invoices per week with a sustained invoice success rate of over 95%. Payment is made by direct deposit to suppliers’ bank account. Adherence to the HPSO means that suppliers get paid on time, improving cash flow and reducing overhead.
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