The Coal Authority, the body which manages the legacy of past coal mining in Britain, is moving supplier sourcing, management and purchasing to the cloud with Wax Digital’s web3 Source to Pay.
Focusing on improving spend visibility and supplier compliance across its £30 million annual expenditure, the Coal Authority will use web3 Source to Pay to drive a standardised and connected approach to its sourcing and procurement practices.
The new system will digitise the entire Source to Pay process, from sourcing suppliers through to raising purchase orders and e-invoices, to issuing payment. It is geared to improving and enhancing the process and making it more efficient by removing the use of paper and manual approvals.
Coal Authority staff will use web3 to buy goods and services, including contractors to deal with coal mining related hazards, contracts for the construction of mine water treatment schemes and their ongoing operations, as well as purchasing everyday office items, such as IT and stationery.
The organisation often needs to purchase goods and services quickly so they can provide solutions to manage public safety and environmental issues associated with historical coal mining activities. web3 Source to Pay will facilitate rapid purchasing and approvals through compliant suppliers in these time-pressured situations.
Paul Frammingham, Chief Finance and Information Officer for the Coal Authority, said: “We wanted to make it as easy as possible for our colleagues to buy from approved suppliers at the right price. So we turned to the digital market place to source cost effective services and found that the intuitiveness of Wax Digital’s web3 technology met our requirements.”
Anne Coleman, Head of Procurement for the Coal Authority, added: “We also selected web3 due to its integration and ability to achieve a continuous automated Source to Pay cycle. Integration is vital to the success of our cloud approach, allowing us to easily connect procurement into wider processes.”
Paul Ellis, Managing Director, Wax Digital, said: “Complex purchasing and buying requirements like the Coal Authority’s can cause delays in cases that require urgent responses, but they also require compliance with industry and environmental rules. By using web3 Source-to-Pay the organisation will have the assurance of a clear understanding of its spending and the ability to react quickly when its procurement needs change.”