Benefits Of Edi


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Benefits Of Edi

  1. 1. RELI ABILITY The Benefits of EDI or Time Equals Money
  2. 2. Saving Time <ul><li>General </li></ul><ul><li>Deployment </li></ul><ul><li>Accounts Payable </li></ul><ul><li>Invoicing </li></ul><ul><li>Processing & Validation </li></ul><ul><li>Electronic Data Interchange Benefits </li></ul><ul><li>Time Equals Money </li></ul>More efficiency… less cost.
  3. 3. General Guide <ul><li>Where do we LOSE time in the business process? </li></ul><ul><li>Time LOST to process vendor invoices and other payables. </li></ul><ul><li>Time LOST to process Errors and Delays </li></ul><ul><ul><li>Inaccuracies in data entry cause delays – delays in financial statements – delays in payments. </li></ul></ul><ul><li>Time LOST to Control Cost and AVOID duplicate payment or processing. </li></ul><ul><li>Time LOST on regulatory compliance and security. </li></ul><ul><li>Time LOST in data RESEARCH. </li></ul><ul><ul><li>Researching manual documents in the payable process to see “What’s happening” with Accounts Payable Documents, specifically “problem documents.” </li></ul></ul>More efficiency… less cost.
  4. 4. Deployment <ul><li>Where do we GAIN time? </li></ul><ul><li>Software as a Service: SaaS. </li></ul><ul><li>Time GAINED by a Rapid Deployment </li></ul><ul><li>Time GAINED by not spending resources on IT procurement. </li></ul><ul><ul><li>No Implementation of NEW hardware. </li></ul></ul><ul><ul><li>No Implementation of NEW Software. </li></ul></ul><ul><li>Time GAINED by outsourcing our to our staff to fulfill Data Migration, Mapping, and Business Processes that are tested and that work. </li></ul><ul><li>Time GAINED by Transparent VAN migrations. </li></ul>More efficiency… less cost.
  5. 5. Accounts Payable <ul><li>Where do we SAVE time? </li></ul><ul><ul><li>Save TIME in Invoice Dispute Resolution. </li></ul></ul><ul><ul><li>Save TIME in Exception Handling against P.O.s in the system. </li></ul></ul><ul><ul><li>Save TIME in the Escalation and approval of problem invoices. </li></ul></ul>More efficiency… less cost.
  6. 6. Invoicing <ul><li>Where do we SAVE time? </li></ul><ul><li>We Save TIME by eliminating and reducing delays in posting expenses. </li></ul><ul><li>We Save TIME in allowing you to capture EARLY PAYMENT discounts. </li></ul><ul><li>We Save TIME with electronic data interchanges thereby avoiding LATE PAYMENT penalties. </li></ul><ul><li>We Save TIME by reducing or eliminating potential DAMAGED relationships with suppliers and customers. </li></ul>More efficiency… less cost.
  7. 7. Processing <ul><li>Where do we SAVE time? </li></ul><ul><li>We Save TIME by using our EDI solution in that we reduce risk and improve risk analysis. </li></ul><ul><li>We Save TIME by reducing the risk of error which is inherent in any process that involves paper and manual data entry. </li></ul><ul><ul><li>Because accounts payable transactions are subject to scrutiny by external audits for regulatory compliance, any problems in recording invoices as liabilities, particularly when the invoice is not associated with a purchase order, can result in inaccurate FINANCIAL STATEMENTS and possibly allegations of fraud. </li></ul></ul><ul><li>We Save TIME because you don’t have to correct manual data errors, deal with lost mail, or even an employee on vacation, and we provide an Audit Trail of The Document Process. </li></ul>More efficiency… less cost.
  8. 8. EDI Benefits <ul><li>The cost of processing vendor invoices is generally high. It is even more important for SMALL invoices as the cost (of time & money) of resolving an issue may be higher than the the value of the invoice itself! </li></ul><ul><li>Aberdeen Group studies show that manual invoice processing cost between $13.00 and $15.60 per invoice (Paper) versus $8.60 to $9.00 (data) for electronic invoices. </li></ul><ul><li>Increasing the volume of electronic invoice line items, from 2% to 80% can: </li></ul><ul><ul><ul><li>Increase ON-TIME payments by 7% </li></ul></ul></ul><ul><ul><ul><li>REDUCE COST per invoice by 59% </li></ul></ul></ul><ul><ul><ul><li>Increase EARLY payment discounts by a factor of 3 </li></ul></ul></ul>More efficiency… less cost.
  9. 9. Time Equals Money <ul><li>Our product frees up employee’s valuable time. </li></ul><ul><li>It makes relationships more binding and lasting with both customers and suppliers. </li></ul><ul><li>Time is used more wisely by allowing employees to focus on analysis and critical strategic planning, not on tedious, monotonous, error prone data entry. </li></ul><ul><li>We help improve productivity in the purchasing and accounts payable departments. </li></ul><ul><li>We reduce transaction cost control and avoidance. </li></ul><ul><li>We improve financial management and compliance support. </li></ul><ul><li>We take care of delivering outgoing and incoming documents such as purchase orders and customer invoices. </li></ul><ul><li>We enable a phased implementation approach. </li></ul><ul><li>TIME EQUALS MONEY </li></ul>More efficiency… less cost.