Teradyne is a leading supplier of Automatic Test Equipment and Interconnection Systems. The company’s products deliver competitive advantage to the world’s leading semiconductor, electronics, automotive, and network systems companies. In 2006, Teradyne had sales of $1.38 billion, and currently employs about 3,800 people worldwide. Its stock is listed on the New York Stock Exchange under the symbol TER.
When Teradyne contracted with nVision in 2005, the challenge from Teradyne was to efficiently manage the global freight invoices for transportation providers in multiple countries being presented in different currencies; Mexican Pesos, Japanese Yen, Malaysian Ringgits, Chinese Renminbi, Korean Won, Euros, Pound Sterling and US Dollars, for multiple Teradyne divisions. Teradyne wanted a global solution that would allow them to roll up the total spends of each division into one global database. To provide global visibility in a real-time environment allowing Teradyne the ability to capture the total corporate transportation spends with the volumes handled by each service provider. The visibility would allow Teradyne to reduce the number of suppliers, to ensure they get the best possible contract the market can offer to serve their customers in the optimal way and, at the same time, to achieve savings through a freight invoice audit, reduction of internal administrative costs, and transport costs.
Today, Teradyne reaps the rewards of a successful Global Invoice Audit & Payment Solution allowing Teradyne to begin enjoying the benefits of the objectives defined in their Project Scope. In addition to these objectives, nVision provides Teradyne with supply chain solutions that transcend simply processing and paying invoices. Through the utilization of nVision’s web based applications, Teradyne is able to realize year over year savings, supply chain efficiencies and productivity gains.
The global expertise and robust proprietary technology of nVision offers benefits of particular value to companies of all sizes and in all industries. Our commitment is to provide customer value in all relationships we enter into. Our customers see the value in what they get and what they pay, and have confidence in our solutions and our associates that we are providing a positive return on our customer’s investment.