How does Novartis’s invoice help a company solve a problem?

Answered: How does Novartis’s invoice help a…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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How does Novartis’s invoice help a company solve a problem?

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Step 1

Novartis' IT department, a community of 2,000 workers servicing 63,000 consumers in 200 sites and 25 information centers, might be a strategic resource. Because the majority of the company's bills are returned from overseas suppliers, they require variances in design, language, taxes, and currency. As a result, numerous became "query items," needing manual resolution by Novartis accounting staff—delaying payments and making such bills exceedingly expensive to the business. In reality, finance staff spent the majority of their time breaking down questioned invoices that affected separate activities. A remedy was desperately needed.