What you will learn:
• What you should know to ensure you select the right automation provider
• The 4 questions that will reveal AP automation software impostors
• The 8 benefits your department will see from an Invoice Automation Solution
• The danger of inefficient automation
• The advantage of adopting best practice principles
• Understanding the 4 pillars of excellence
• The AP automation options that generate the best ROI
• And more
5. Twins Towns Services Club – Accounts Payable Automation
• 15,000 invoices per month
• Four locations
• ERP - TechnologyOne Financials 11.9 (Latest version)
• Enterprise Capture
Auto-separation of documents (PO & Non PO, single & multi-page)
Image Clean-up
Document review
Quality control
ABR web services look-up
Line item order matching
Match Multi PO’s to a single invoice
Previous GL code look-up option
Image linked to transaction
Direct data base write
Stock and Inventory system release The panel of expert judges included:
o John Mancini, President, AIIM
o Craig LeClair, Vice President and Principal Analyst, Forrester Research
o Harvey Spencer, Leading Analyst in the Worldwide Market for Capture
o Anthony Macciola, Chief Technology Officer, Kofax
6. (ASX Top 200 Company)
Brickworks Limited – Accounts Payable Automation
• 12,000 invoices per month
• 70 registered companies
• 60 locations (Aust/NZ)
• ERP – Maximise (5 separate instances)
• Enterprise Capture
• Enterprise BPM/Workflow
• SharePoint integration
Auto-separation of documents (PO & Non PO, single & multi-page)
Image Clean-up
Document review
Quality control
ABR web services look-up
Line item order matching
PO matching with workflow
BPM/Workflow delegation and authorisation
The panel of expert judges included:
Enterprise invoice image visibility through SharePoint o John Mancini, President, AIIM
Image linked to transaction o Craig LeClair, Vice President and Principal Analyst, Forrester Research
o Harvey Spencer, Leading Analyst in the Worldwide Market for Capture
o Anthony Macciola, Chief Technology Officer, Kofax
7. Top 5 Mistakes Companies Make
When Automating AP
(and how to avoid them)
1. Decision based on price, not on functional capability - this endangers efficient automation
2. No current understanding of the true processing cost to help justify the investment
3. Automate bad processes - Don’t be afraid to think outside the box
4. Big bang approach as opposed to a phased rollout
5. Not thinking about broader business benefits and usage for a technology platform
8. Efficiency Leaders
Undertake Process Analysis, Redesign and Automation
Provide solutions that answer complex business problems
Consulting
Development
Integration
Help you leverage existing technology and infrastructure
investments (improving ROI)
9. Our Focus
Improving the efficiency of business processes at an enterprise level,
specifically targeting processes that are:
• Manually Intensive Information Entry
• Time Sensitive
• Require Human Interaction
• Mission Critical
With the outcome of eliminating inaccuracies, reducing processing costs
and improving speed.
All within the one processing platform!
12. Typical Manual Process
Incoming mail
Secondary Invoice GL and Account ERP/Finance System
Primary Invoice Coding
Approval Approval
Confirming Good Received
Auditors
Keep a copy
Accounts Payable Dept.
13. ERP
Mail Email/Fax CSV/XML/EDI Upload
Secure Data
Validation
Scan
Capture Extract/Validated
Data & Image
Image Clean-up Auto-separation Auto- classification Extraction
14. Image Repository
Valid Data
Business Process Line-of-Business
Management
Web
Route
Electronic
Supplier/Customer GL & Account Goods and Service Supplier/Data Discrepancy Delegation of Authority
Communication Coding Receipt Maintenance Resolution & Approval
My name is Dan Bennett and I’ll be your moderator for todays webinar – please excuse the cheezy photo
From a social media perspective, you can also find us and follow us on:LinkedinFacebookGoogle PlusTwitter ……and even on PinterestWe also want to make this an interactive session, so after the presentationyou’ll also have a few poll questions that will pop up on your screen which we would love you response to and you’ll also have the opportunity to ask any questions by typing into the chat box on your left hand side.
For some years now we’ve helping streamline business processes and empowering our customers to become not only more efficient, but help them with their long term strategy for process optimisation at an enterprise level. Now whether it be: Accounts Payable Automation, mortgage processing, the extraction of hand print information from time sheets or complete mailroom automation – we’re working in partnership with all of these companies to achieve their efficiency outcomes. A couple of examples are:
An although, each of these companies needs and requirements differ from the next there’s one they all have in common…….they’ve avoided the major mistakes.
The paperless office is something that organisations have strived for since the early 1980’s, and yes the industry has come along way since then, but it not there yet. In saying this a powerful way that many companies are becoming more efficient,highly productive and able to increase their bottom-line is through the introduction of Accounts Payable automation. It’s a very topical subject and one that’s gaining a huge amount of traction based on the potential benefits it can bring an organisation. 1. With increased market activity, it also brings with it a range of efficiency capability and competitive pricing in a price sensitive market. This is both positive and negative for those companies looking at adopt process improvement initiatives. The positive is that are is cheap solutions out there. The negative is, that these low cost, low end automation solutions over a 3 year period are in fact significantly more expensive than one that is more functionally rich but are initially at a higher price point. - don’t base your decision on price!2. But we don’t have a big budget……the reason why most business cases fail at a board level is because of the lack of a return on investment the board can see or justify. And the reason for perceived lack on the ROI because there hasn’t been enough analysis upfront to understand the true cost of processing. There has been many studies done both here and abroad which put the processing cost of an invoice between $13 - $35 per invoice. Lets say it’s $13 x 50,000 per year = $650,000 just to process. And let’s say you can reduce the cost by $5 to $8 per invoice, that’s $250,000 saving…..this certainly created a strong case. The main point here is ensuring that you really understand what your true cost per invoice is so at least have a starting point – an also working with us to help you build that business case3. Once the initiative to embark on the automation of a Accounts Payable is sanctioned, think outside the box with regard to how and what you can streamline…….and don’t allow a bad process to be automated. It very easy to be wedded to what you know because that’s the way you’ve always done it!…..but it’s not always the best and most efficient way to do things....challenge your thoughts and processes. 4. In saying that, it’s also very easy to get excited about the prospect of change and the utilisation of technology to help optimise your time and situation……by all means have a wish list, but ensure that you don’t have a big bang approach, this can significantly slow the project down and risk the ROI and project timeframes that you initially established. It’s always better for a business to add to a functioning automation solution then to wait for every single item from a wish list to implemented……a must is to have technology and a partner that can deliver, but try not to do it all at once. 5. Another major area where organisations get real bang for the buck is by adopting a automation platform which is scalable and capable providing efficiency capability across the business, opposed to only being capable as a silo solution in one department.
Speaking of challenges, when we’re engaging with organisations we ask some fairly direct questions. We ask them why they are doing the things they are doing. And typically the answer is, that’s always the way we’ve done it.Through education, innovation and technology we are able to help organisations streamline manually intensive, time intensive, mission critical business processes all of a single intelligent platform.
