World Wide Technology (WWT) is a technology solution provider with more than $10 billion in annual revenue that provides digital strategy, innovative technology and supply chain solutions to large public and private organizations around the globe. With $10.4 billion in annual revenue, WWT employs more than 5,000 people and operates over 2 million square feet of warehousing, distribution and integration space in more than 20 facilities throughout the world. WWT is investing in next generation platforms, like RecVue, to drive their transformation to a services-based solution provider.
The team at WWT had a difficult challenge: Customer invoices were delayed up to four months because the legacy financial systems were unable to support a recurring revenue business model. Each billing period, the team would use spreadsheets to collect usage data and validate billable transactions. Each invoice required 12-18 hours to complete and included the involvement of six or more people from other departments to validate which transactions were billable. Next the team had to manually review contract documents to determine the appropriate prices and other terms to apply to the billable transactions since there was no contract management system. WWT also relies on partners to deliver and manage some of their services, but partner payments were also delayed because of the manual processes. In addition, WWT could not forecast revenue nor could they determine the profitability of their contracts. Ultimately, all of these issues had a negative impact on cash flow, customer satisfaction, and partner relationships.
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