What is the Raytheon Electronic Invoicing Initiative?

Raytheon is pleased to announce that we have joined the Transcepta Electronic Invoicing Community in an effort to make our payment process faster and more efficient. This new service should enable us to receive invoices from all of our suppliers electronically. Raytheon has chosen Transcepta because the service is designed to bring value to both Raytheon and you.

Raytheon’s objective is 100% adoption of electronic invoicing with all our suppliers. Transcepta enables immediate submission and guaranteed delivery of non-ERS invoices directly into the Raytheon Accounts Payable system. This process eliminates the delays of U.S. Mail, cost of postage, manual paper handling, and data entry. Further, the Transcepta process enables automatic invoice validation and notification of incomplete or missing information on each invoice which allows your invoices to be processed faster. Finally, the Transcepta process allows you to track invoice delivery via confirmation emails and/or by visiting the Transcepta supplier web portal.

In summary, intended benefits of participation include:

• Faster processing and payment of invoices and thus a decreased Days Sales Outstanding
• Guaranteed accurate, timely delivery of invoices
• Greater visibility into invoice status via web portal
• Reduced administration cost such as U.S. Mail, postage, printing, data entry, etc.

Registration and connection requires only a few minutes of your time. Transcepta enables suppliers to submit invoices directly from their existing billing system and there are typically no supplier IT requirements to set up the connection.

As a result of the above benefits, Raytheon is advised that over 98% of suppliers in the Transcepta Community confirm that the service offers substantial improvement over traditional paper invoicing processes.

Transcepta does not charge any set up fees. Transcepta charges a monthly fee of $29.00 (billed annually) for their automated service. There is an alternate option to input invoices through their web portal for an annual fee of $149.00 for smaller volume vendors. In both the manual and automated options you are free to send an unlimited number of invoices at no additional charge. Raytheon has chosen to engage Transcepta because of the ease of setup for the supplier and the apparent value to suppliers.

The following is an outline of the complete enrollment process: