From the November 2008 issue of Treasury & Risk magazine

Bronze AHA Award Winner in Technology

GE faced a challenge. A global expansion was leading it into new markets but it was still using a cumbersome manual invoice payment process for letters of credit and guarantees. This inefficient process generated 21,000 pages of paper a year and required an analyst to spend as much as one full day a week reviewing, reconciling and paying bills.

It fell to Lynda McGoey, manager-trade and project finance, to assemble a cross-functional team to develop an in-house automated system that would save hours--as well as trees--and prevent the need for additional staff.


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