This post is part of an eight-week series highlighting Concur Innovation Award Winners. Last week we introduced you to our first 2014 Innovation Award winner, Oribe Hair Care. This week, we’re highlighting Getty Images. Concur’s Innovation Awards are all about recognizing clients for their innovative use of Concur solutions.
With thousands of photographers around the world, Getty Images is revolutionizing the way their photographers get paid with Concur Invoice. Partnering with Concur has helped Getty Images to streamline and simplify work life. Senior Finance Manager, Elizabeth Sumption, spoke with us about the importance of how accuracy and turnaround time have improved invoice processing by 67% at Getty. By using Concur, photographers no longer spend hours doing expense reports so that they can focus on their mission of capturing beautiful images.
Concur: What is your mission at Getty Images?
Elizabeth: Our mission at Getty Images is to produce and distribute still images, footage and music to those who inspire communications.
C: How has your partnership with Concur improved your business?
E: Our partnership with Concur is really important to our business. We’re a media company with photographers all over the world who are moving at a very fast pace. For them to slow down and do any sort of manual finance processes takes them away from their business. We like them to be mobile and flexible, and they can do everything with Concur on their phone or iPad.
C: Why did Getty choose Concur Invoice?
E: We chose Concur Invoice after years of searching for an AP automation solution. We looked at everything on the market, and nothing met our needs. We looked at it last year and then implemented it and have already received many benefits including a real touch-less process where our AP no longer has to type invoices into our financial system. And we’ve been able to let our staff focus on customer questions and really serve their interests.
C: What benefits have you realized since implementing Concur Invoice?
E: The elimination of data entry for our AP department. It increased accuracy so there’s no need to audit every single invoice. We used to audit 100% of our invoices and now because the invoices are captured by a scanner we have a high degree of accuracy. The quick turnaround, and cycle time has improved by 67%. It used to take 15-20 days to get an invoice through the cycle and now it takes 5 days. Our vendors are getting paid on time now! They love it.
C: How has using Concur Invoice changed your employees’ lives?
E: Concur has made our work lives more streamlined and simple. We no longer have to spend hours and hours processing invoices and expense reports. We’ve got photographers out in the field and before we implemented Concur they would have to put together a spreadsheet and provide copies of receipts and have it all approved and then mail that package to AP. And then AP would enter it into the finance system. With Concur, they can process their expense report within minutes. Some of our photographers travel 90% of the time so that means that now they can spend just a few minutes doing their expense report and spend more time on their photo shoot.
C: What’s your role at Getty Images? And, how do you incorporate Concur into your day-to-day work?
E: I love my job. I look forward to it every day. If I have expenses to take care of, they only take a few minutes and I can focus on my work. I’m accountable for producing results and often that means implementing new technology solutions and optimizing a process where I’ll break it into segments and see how I can cut out the steps or use a new best practice and implement that. My job is to make working with finance easier. If I haven’t done that, I’ve failed.
I hope that I’ve made improvements so that the company is operating more efficiently. With Concur, they can focus on their core business and competency and spend less time accounting for their time with expenses. My goal is to make everyone’s lives better and to make things faster, better and cheaper.
C: Why is transparency important to Getty Images?
At Getty Images, we operate in a very transparent type of environment. We are aware of our goals and expectations upfront. As the market changes and the industry changes, our priorities change. If we are all transparent in those happenings then we’re all working together in a collaborative way. We decided to share our images for non-commercial use. That will allow the world to take advantage of millions of photos and images that we have. If you want to share an image and use it on a blog and not for commercial use, it’s completely legal now. In that way it demonstrates transparency and it connects us all.
C: What makes working at Getty Images unique?
E: Getty Images is the best place to work. It’s so much fun. I’m behind the scenes of an innovative company. Working in media is exciting. We have new products that we’re rolling out, new subscription models, we have footage and a music label. We’re on the forefront. We win awards and are so proud of our photographers. It’s an exciting place to be.
C: What do Concur and Getty Images have in common?
E: Getty and Concur have innovation in common. When we have photogs capturing images on the Red Carpet there will be seconds before you can see it on the web. We ingest those images so quickly and that’s the magic of our technology. It’s just like Concur and ExpenseIt where you’re taking a receipt and you’re wiping those data elements and putting it into the expense report so people don’t have to spend time doing that. It’s something our companies have in common and it’s really exciting.
Hear from Elizabeth Sumption herself on Getty Images' innovative use of Concur Invoice