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[Webinar] New Year, New AP
[Webinar] New Year, New AP
[Webinar] New Year, New AP
[Webinar] New Year, New AP
[Webinar] New Year, New AP
[Webinar] New Year, New AP
[Webinar] New Year, New AP
[Webinar] New Year, New AP
[Webinar] New Year, New AP
[Webinar] New Year, New AP
[Webinar] New Year, New AP
[Webinar] New Year, New AP
[Webinar] New Year, New AP
[Webinar] New Year, New AP
[Webinar] New Year, New AP
[Webinar] New Year, New AP
[Webinar] New Year, New AP
[Webinar] New Year, New AP
[Webinar] New Year, New AP
[Webinar] New Year, New AP
[Webinar] New Year, New AP
[Webinar] New Year, New AP
[Webinar] New Year, New AP
[Webinar] New Year, New AP
[Webinar] New Year, New AP
[Webinar] New Year, New AP
[Webinar] New Year, New AP
[Webinar] New Year, New AP
[Webinar] New Year, New AP
[Webinar] New Year, New AP
[Webinar] New Year, New AP
[Webinar] New Year, New AP
[Webinar] New Year, New AP
[Webinar] New Year, New AP
[Webinar] New Year, New AP
[Webinar] New Year, New AP
[Webinar] New Year, New AP
[Webinar] New Year, New AP
[Webinar] New Year, New AP
[Webinar] New Year, New AP
[Webinar] New Year, New AP
[Webinar] New Year, New AP
[Webinar] New Year, New AP
[Webinar] New Year, New AP
[Webinar] New Year, New AP
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[Webinar] New Year, New AP

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Have you been thinking about automating your AP process but time slipped away from you in 2013? Don't let another year go by—take action and automate your AP in 2014. …

Have you been thinking about automating your AP process but time slipped away from you in 2013? Don't let another year go by—take action and automate your AP in 2014.

Join us, along with The Institute of Financial Operations, to learn the latest trends in AP and how you can begin a shift to AP automation. With a move to AP automation, there is no more losing invoices, chasing approvals, and updating endless spreadsheets. AP automation gives you a smoother and faster AP process with increased control and visibility, improved efficiency, and reduced fraud.

Presenters:
Craig Simpkins, CAPP, CFE, and Director of Global Process Organization at Johnson Controls Inc.
Peter Bepler, Co-founder and President at Anybill

With the fresh start of a new year, there is no better time to kick off your AP automation project. What are you waiting for?

Published in: Technology, Business
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  • 1. Connected at last. New Year, New AP
  • 2. Connected at last. Today’s Speaker Craig Simpkins, CAPP, CFE Director of Global Process Organization Johnson Controls, Inc. Peter Bepler Co-founder and President Anybill Guest Faculty Chris Hutson Chief Financial Officer Texas Tech Federal Credit Union 2
  • 3. What you will learn.. Connected at last. Another year brings a new perspective to driving efficiencies within your accounts payable process. In this webinar, we will discuss ways to: - eliminate the agony of lost invoices - streamline the approval process - systematically track invoices - improve visibility within the invoice process 3
  • 4. Top Financial Automation Goals Connected at last. Source: Invoice and Workflow Automation Benchmark Report, Paystream Advisors 4
  • 5. Polling Question #1 Connected at last. If/when is your organization planning to automate? A. No timeframe B. Within a month C. 2-6 months D. More than 6 months E. No plan to automate at this time 5
  • 6. Invoice Cost Connected at last. Average cost to process an invoice by Company size Source: Invoice and Workflow Automation Benchmark Report, Paystream Advisors 6
  • 7. Invoice Receipt and Payment Process Connected at last. Method used for invoice collection and payment Source: Invoice and Workflow Automation Benchmark Report, Paystream Advisors 7
  • 8. Current Challenges Connected at last. • High volumes of paper invoices and paper-based payments result in: – High costs – Decentralized process – Lost or missing invoices – Multitude of errors – Slow processing turnaround – Lack of visibility – Lost supplier discounts 8
  • 9. Tools and Technologies Connected at last. Solutions that can eliminate paper and drive efficiencies: – Electronic invoicing – Supplier portals – Document scanning – Data extraction – Automated Workflow – Electronic Payments 9
  • 10. Invoice Receipt Method Connected at last. Source: Invoice and Workflow Automation Benchmark Report, Paystream Advisors 10
  • 11. Invoice Receipt Method Connected at last. Paper decreases by 12 points over a two year period from 64% to 52% Source: Invoice and Workflow Automation Benchmark Report, Paystream Advisors 11
  • 12. Invoice Receipt Method Connected at last. Paper decreases by 12 points over a two year period from 64% to 52% Electronic invoices increase by 17 points over a two year period from 14% to 31% Source: Invoice and Workflow Automation Benchmark Report, Paystream Advisors 12
  • 13. Invoice Receipt Method Connected at last. Paper decreases by 12 points over a two year period from 64% to 52% Electronic invoices increase by 17 points over a two year period from 14% to 31% Faxes decrease slightly over a two year period from 9% to 5% Source: Invoice and Workflow Automation Benchmark Report, Paystream Advisors 13
  • 14. Polling Question #2 Connected at last. What percentage of your organization’s invoices are PO-based? A. 0-20% B. 21-40% C. 41-60% D. 61-80% E. 81-100% 14
  • 15. Barriers to adoption of eInvoicing Connected at last. • • • • • • • Budget constraints Lack of business case (i.e ROI) No buy-in from management Lack of understanding of solutions Staff not qualified to work with technology Confidence in current processes Lack of resources to support and maintain solution 15
  • 16. Benefits Achieved through eInvoicing Connected at last. Current Challenges of high volumes of paper invoices and paper-based payments: High costs Decentralized process Lost or missing invoices Multitude of errors Slow processing turnaround Lack of visibility Lost supplier discounts Source: Invoice and Workflow Automation Benchmark Report, Paystream Advisors 16
  • 17. Benefits Achieved through eInvoicing Connected at last. Source: Invoice and Workflow Automation Benchmark Report, Paystream Advisors 17
  • 18. Supplier Portal Connected at last. Supplier portal in some form can facilitate: • Transmission of Purchase Order to Supplier • Electronic submission of invoice from supplier • Data integrity to reduce invoicing errors • Reduction in invoice capture and entry costs • Real-time visibility and status of invoice • Payment status • Improved suppler relations • And, It’s Green! 18
  • 19. Supplier Portal Connected at last. 57% Companies with revenue > $5 billion 11% Companies with revenue < $250 million Source: 2013 AP Automation Study: IFO and Anybill 19
  • 20. Supplier Portal Connected at last. Most important driver of your decision to implement a supplier portal Source: 2013 AP Automation Study: IFO and Anybill 20
  • 21. Supplier Portal Connected at last. Which AP functions are supported through your supplier portal? Source: 2013 AP Automation Study: IFO and Anybill 21
  • 22. Document Scanning/Data Capture Connected at last. Back-End Invoice Capture and Archival • Invoices and supporting documentation are scanned at the end of the process. • Once indexing is complete, the document images are stored in an electronic repository for retrieval based on the searchable fields created. Front-End Document and Data Capture • Most advanced use of imaging technology • Can either scan or utilize OCR • Facilities workflow and approval process 22
  • 23. Document Scanning/Data Capture Connected at last. What types of capture technology are you using? 2012 Results were 47% 2012 Results were 36% Source: 2013 AP Automation Study: IFO and Anybill 23
  • 24. Document Scanning/Data Capture Connected at last. Front-End Capture with Matching and Workflow • Combines front-end document data capture with workflow capabilities. • Automates the invoice receipt-to-pay cycle. • Enables AP departments to determine how different invoices are handled Automated Data Extraction Tools • • • • Facilitate the extraction of information from scanned invoices Template-based Optical Character Recognition (OCR) Free-Form recognition Intelligent Document Recognition (IDR) 24
  • 25. Document Scanning/Data Capture Connected at last. Does your organization use OCR technology to capture invoice data? 23.3% 2012 results were 80.6% Yes No 76.7% Source: 2013 AP Automation Study: IFO and Anybill 25
  • 26. Document Scanning/Data Capture Connected at last. Primary reason why an organization does not utilize OCR Source: 2013 AP Automation Study: IFO and Anybill 26
  • 27. Document Scanning/Data Capture Connected at last. Front-end Imaging with OCR/IDR Adoption rates continue to increase Source: Invoice and Workflow Automation Benchmark Report, Paystream Advisors 27
  • 28. Automated Workflow Connected at last. Adoption of Approval Workflow Solutions Source: Invoice and Workflow Automation Benchmark Report, Paystream Advisors 28
  • 29. Automated Workflow Connected at last. Benefits of Approval Workflow Solutions Source: Invoice and Workflow Automation Benchmark Report, Paystream Advisors 29
  • 30. Polling Question #3 Connected at last. Based on our discussion based on benefits of approval workflow solutions, identify the top benefit received when implementing this technology? a) b) c) d) Improved productivity Lower Costs Quicker approval of invoices Enhanced compliance 30
  • 31. Polling Question #3 Connected at last. Based on our discussion based on benefits of approval workflow solutions, identify the top benefit received when implementing this technology? a) b) c) d) Improved productivity Lower Costs Quicker approval of invoices Enhanced compliance At 78% 31
  • 32. Electronic Payments Connected at last. Benefits achieved through electronic payments: • Lower processing costs • Reduction in procure-to-pay cycle times • Reduction in check fraud/lost checks • Increased vendor satisfaction • Increase in on-time payments • Increased ability to capture early discounts • Reduction in duplicate payments 32
  • 33. Electronic Payments Connected at last. Barriers to electronic payments: • • • • • Lack of budget ERP constraints Comfortable with current process Supplier resistance Belief that ROI will not exist 33
  • 34. Electronic Payments Connected at last. Methods used for B2B Payments 2012 Results were 57% 2012 Results were 25.5% Source: 2013 AP Automation Study: IFO and Anybill 34
  • 35. Electronic Payments Connected at last. The importance of electronic payments Source: 2013 AP Automation Study: IFO and Anybill 35
  • 36. Electronic Payments Connected at last. Percent of invoices paid electronically Opportunity Source: Invoice and Workflow Automation Benchmark Report, Paystream Advisors 36
  • 37. Polling Question #4 Connected at last. Based on our previous discussion related to electronic payments, what percentage of your organization’s payments are processed electronically? A. B. C. D. E. 0-25% 26-50% 51-75% 76-100% We don’t process electronic payments 37
  • 38. Supply Chain Finance Connected at last. Is trade finance part of your AP Strategy? Source: 2013 AP Automation Study: IFO and Anybill 38
  • 39. Supplier Discounts Connected at last. Ability to Capture Supplier Discounts Source: Invoice and Workflow Automation Benchmark Report, Paystream Advisors 39
  • 40. Benefits of the Cloud Connected at last. Benefits of Cloud or software-as-a-service solutions Source: 2013 AP Automation Study: IFO and Anybill 40
  • 41. Connected at last. Case Study: Texas Tech Federal Credit Union Challenges • • The number of invoices processed rose 100% within a two-year period If they continued to process invoices manually, they would need to hire an additional AP clerk Solution • • Their Accounting department wanted to increase efficiency and cut costs CFO’s priority was finding an integrated solution including entry, approval, and especially payments component Results • • • • • Achieved its business goals and is better positioned to face auditing and compliance issues in the future Protects against costly errors Dramatic improvement in processing and approval time Now takes advantage of early-pay discounts, avoids late payment fees, and improves cash flow Access to online dashboard gives executives real-time, actionable data anywhere, anytime 441
  • 42. Connected at last. Connect with Us: Twitter: @AnybillonDemand LinkedIn: Anybill Financial Services Facebook: Anybill Google+: Anybill 44
  • 43. Conclusion Connected at last. • Trends show that organizations are adapting technological solutions. • Reducing costs within an organization to remain competitive will continue to exist. • Opportunities continue to increase in the area of procure-topay to capitalize an automated solutions. • There are economical solutions to leverage when implementing technology, “why buy a Cadillac when a Yugo will be sufficient” • The opportunity exists for you to drive your organization to the next level… 43
  • 44. Final Thought Connected at last. With the fresh start of a new year, there is no better time to kick off your AP automation project. What are you waiting for? 44
  • 45. Connected at last. Thank you! If you have further questions, please feel free to contact the Anybill Team at info@anybill.com Connect with Us: Twitter: @AnybillonDemand LinkedIn: Anybill Financial Services Facebook: Anybill Google+: Anybill 47

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