Art Sarno
Product Marketing Director
Kofax
Kofax TotalAgility® Accounts Payable Automation --
A Best in Class AP Solution
Kofax – Global Presence
Successful
Customers: 20,000+
Software seats: 150,000+
ERP, CRM, LOB integrations: Tens of thousan...
Kofax Accounts Payable Solutions
AP Solutions Market Leader
 Kofax TotalAgility® Accounts
Payable Automation
 Multichann...
Best-in-Class (20%)
Industry Average (50%)
Laggards (30%)
AP Performance Issues: Well Known in the Market
4
Cost to
proces...
#1 Improvement Strategy: Automating Invoice Receipt and
AP Workflow
5
Kofax Accounts Payable – Solutions for the Whole ERP Market
Source: Gartner: “Market Share Analysis: ERP Software, Worldwi...
Accounts Payable – What’s Needed?
7
Challenge What’s Needed? Common State
Speed 3 days from receipt to approval Ranges fro...
Common AP Practice – Too Costly, Slow and Error-prone
8
Excessive
Paper
Handling
Manual Re-
Keying into
systems
Supplier F...
The AP Automation Advantage
9
Validation /
Entry
KTA7 Process
Approval Review
ERP
Exceptions
Wait for
Payment
Exception Pr...
Kofax AP Automation – Delivering Four Critical Capabilities
1. Multichannel Invoice Capture and Extraction
2. Best Practic...
Critical Capability #1
 Capture of invoice
 Paper, email, fax, e-invoice,
mobile, any channel
 High-quality digital ima...
Critical Capability #2
Best Practice Workflow: Productive, Auditable, Adaptable2
 Productive
 Standardized flows, high l...
Critical Capability #3
Effective System Integration3
Multichannel Invoice Capture & Extraction
 Close integration of invo...
Critical Capability #4
14
4 Analytics
 Historical – What happened
and why?
 Data f/ invoices that have already
been paid...
TotalAgility Accounts Payable Automation - Summary
 Remove paper flow
 Cut cost and errors in invoice receipt
 Extend t...
Kofax: Proven Market Leader and Visionary
16
The Forrester Wave is copyrighted by Forrester Research, Inc. Forrester and
F...
TotalAgility Accounts Payable Automation 1.1 Benefits Summary
17
Kofax Accounts Payable Delivers:
• Increased Employee Pro...
TotalAgility Accounts Payable Automation – Sample Screenshots
18
Invoice Validation – Manual intervention after automatic ...
TotalAgility Accounts Payable Automation – Sample Screenshots
19
GL Coding – ERP codes available in drop-down to ensure us...
TotalAgility Accounts Payable Automation – Sample Screenshots
20
Invoice Approval – Second approval triggered by spend lim...
TotalAgility Accounts Payable Automation – Sample Screenshots
21
AP & ERP Search – Assisting AP staff to resolve issues, d...
TotalAgility Accounts Payable Automation – Sample Screenshots
22
AP Work Queue – Key data and task status presented to the...
Invoice Activity Analysis
Cash Management Insight
Who Relies on Kofax for Accounts Payable Automation?
26
>1,000 customers operating in 100+ countries
Case Study
27
Challenges
 Increase accountability and
transparency for all invoices
 Reduce labor-intensive invoice and
...
Kofax Summary
 AP solutions market leader
 Trusted in AP by 1,000+ AP
departments
 Global, financially strong
 Compreh...
For further information, please contact:
 Art Sarno
 Product Marketing Director, Kofax
 Phone: 1-(949) 783-1608
 Email...
Upcoming SlideShare
Loading in...5
×

Transform 2014: Kofax TotalAgility™ Accounts Payable Automation – A Best-In-Class AP Solution

1,271

Published on

Learn in how Kofax TotalAgility™ Accounts Payable Automation can improve your AP performance, irrespective of the ERP(s) your organization uses. See how you can raise levels of touchless processing by automating invoice receipt, entry, coding, approval and review, all while integrating to your ERP(s) automatically and efficiently.

Published in: Technology
0 Comments
3 Likes
Statistics
Notes
  • Be the first to comment

No Downloads
Views
Total Views
1,271
On Slideshare
0
From Embeds
0
Number of Embeds
3
Actions
Shares
0
Downloads
57
Comments
0
Likes
3
Embeds 0
No embeds

No notes for slide

Transform 2014: Kofax TotalAgility™ Accounts Payable Automation – A Best-In-Class AP Solution

  1. 1. Art Sarno Product Marketing Director Kofax Kofax TotalAgility® Accounts Payable Automation -- A Best in Class AP Solution
  2. 2. Kofax – Global Presence Successful Customers: 20,000+ Software seats: 150,000+ ERP, CRM, LOB integrations: Tens of thousands NASDAQ & LSE: KFX Headquarters: Irvine, CA Employees: 1,200+ in 30 countries Channel partners: 800+ in 70 countries 2
  3. 3. Kofax Accounts Payable Solutions AP Solutions Market Leader  Kofax TotalAgility® Accounts Payable Automation  Multichannel capture  Best practice AP workflows  ERP integration • Microsoft Dynamics AX OOTB  Analytics  Kofax MarkView®  MarkView for Oracle EBS  MarkView for SAP  MarkView Advisor - Analytics  MarkView Express - Supplier Portal 3
  4. 4. Best-in-Class (20%) Industry Average (50%) Laggards (30%) AP Performance Issues: Well Known in the Market 4 Cost to process one invoice Source: Aberdeen Group, AP Invoice Management in a Networked Economy. May 2012 $16.67 $6.29 $3.34 Early payment discount capture rate 18% 47% 90% Time to process one invoice 16.3 days 6.1 days 4.1 days
  5. 5. #1 Improvement Strategy: Automating Invoice Receipt and AP Workflow 5
  6. 6. Kofax Accounts Payable – Solutions for the Whole ERP Market Source: Gartner: “Market Share Analysis: ERP Software, Worldwide, 2012”, May 7, 2013 ERP Market Share Other 37% 63% Kofax AP AutomationKofax MarkView  ERP users often seek a complementary AP solution and integrate it to their ERP  Kofax AP automation expands the Kofax value beyond SAP and Oracle E-Business Suite (which are served by Kofax MarkView)
  7. 7. Accounts Payable – What’s Needed? 7 Challenge What’s Needed? Common State Speed 3 days from receipt to approval Ranges from 3 to 20+ days Cost $2 or less per invoice $3 to $40+ per invoice Paper Less! 70% of invoices still on paper Visibility Transparency of AP status Low level of AP insight Control Standardized processes, enforced internal controls and regulatory compliance Weak process discipline, imprecise audit trails, inadequate traceability Accuracy Reduced error rates Rekeying remains too common Cash optimization Pay when you want Inability to take early discounts or avoid late fees Ease of change Escalate, expedite, improve Inflexibility mistaken for control Ease of deployment Fast, simple implementation Adoption painful and slow
  8. 8. Common AP Practice – Too Costly, Slow and Error-prone 8 Excessive Paper Handling Manual Re- Keying into systems Supplier Finance DirectorPeople - intensive Approval Processe s AP Clerk LOB Employee AP Manager LOB Manager delay cost delaycost delay cost ERP LOB Systems Ineffective System Integration Lack of visibility to processes Performance Impact of Current Practice • Excessive, Costly Manual Paper Handling • High Error Rates in Extraction of Key Invoice Data • Lost and Duplicate Invoice Issues • Hazy Visibility of AP Status • Workflows Fail to Manage Exceptions • Weak Internal Controls • Ineffective Integration to ERP and LOB Systems
  9. 9. The AP Automation Advantage 9 Validation / Entry KTA7 Process Approval Review ERP Exceptions Wait for Payment Exception Processing • Data Validation (Business Rules) • Header • Lines • Hierarchy • Escalation • Business Rules • Route to group or user • Route to group or user Interface after invoice KTA ERP approval and review • Request comment, Return to Supplier, Cancel, etc. • Wait for the invoice to be paid in ERP Capture Represents source of invoice data as the workflow progresses Extraction Reports and Analysis Kofax TotalAgility AP Automation ERP integration occurs during validation, entry and matching Invoice is posted to ERP after the “review” step On-premise Cloud deployment options (planned) ERP search for suppliers, POs, PO lines, invoices available throughout ERP users have access to AP processing status Multichannel support Mobile review, approval or escalation (planned)
  10. 10. Kofax AP Automation – Delivering Four Critical Capabilities 1. Multichannel Invoice Capture and Extraction 2. Best Practice AP Workflow – Productive, Controlled, Adaptable 3. Effective ERP Integration 4. Analytics 2. 3. Effective ERP Integration Other ERP MS Dynamics AX OOTB Multichannel Invoice Capture & Extraction Analytics 10 Best Practice AP Workflow AP Clerk Invoice Entry Line Item Matching Invoice Approval GL Coding Invoice Review Business Controls AP ManagerLOB Staff 1. 4.
  11. 11. Critical Capability #1  Capture of invoice  Paper, email, fax, e-invoice, mobile, any channel  High-quality digital image  Available in workflows  Extraction of invoice information  PO and non-PO  Preconfigured invoice recognition and online learning  Supplier and header  Line items and amounts  Available in workflows 11 Multichannel Invoice Capture and Extraction1. Multichannel Invoice Capture & Extraction Supplier Header Line Items Amounts
  12. 12. Critical Capability #2 Best Practice Workflow: Productive, Auditable, Adaptable2  Productive  Standardized flows, high level of automation  Low level of human touch  Efficient human touch, if needed  Auditable  Audit trail of every action  Documented AP processes  Reports and dashboards available  Adaptable  Easy to assign/re-assign work, escalate, etc.  Fast to expedite for discount capture, discrepancy resolution  Visual workflow redesign Best Practice AP Workflow AP Clerk Invoice Entry Line Item Matching Invoice Approval GL Coding Invoice Review Business Controls AP ManagerLOB Staff
  13. 13. Critical Capability #3 Effective System Integration3 Multichannel Invoice Capture & Extraction  Close integration of invoice images and information with workflow  Flexible exchange of AP information with ERP and LOB systems  Modern system architecture  10,000+ ERP and LOB integrations Effective System Integration LOBERP Best Practice AP Workflow AP Clerk Invoice Entry Line Item Matching Invoice Approval GL Coding Invoice Review Business Controls AP ManagerLOB Staff
  14. 14. Critical Capability #4 14 4 Analytics  Historical – What happened and why?  Data f/ invoices that have already been paid and related processes  Actionable – What’s happening now?  Real-time or near-real-time data on invoices currently in workflow  Enable intervention to change course of processing  Predictive – All data analyzed to provide visibility into future  Determine next actions based on historical trends, current process states, resource availability, etc.
  15. 15. TotalAgility Accounts Payable Automation - Summary  Remove paper flow  Cut cost and errors in invoice receipt  Extend to electronic invoice receipt channels  Create process-ready information without rekeying 1 2 3 15  Cut costs and proactively manage AP processing issues  Single, best practice AP workflow for all invoices  Visibility and control for audit, compliance  Alerts and flexible workflow resolve AP process issues  Implementation cost savings on ERP integration  Flexible, model-based integration: not hard-coded  >1,000 organization rely on Kofax for AP/IP solutions  >400 Kofax staff are AP experts Effective ERP Integration Any ERP 4  Actionable insight that drives better AP performance  Extensible analytics, adaptable to requirements Actionable Analytics 5
  16. 16. Kofax: Proven Market Leader and Visionary 16 The Forrester Wave is copyrighted by Forrester Research, Inc. Forrester and Forrester Wave are trademarks of Forrester Research, Inc. The Forrester Wave is a graphical representation of Forrester's call on a market and is plotted using a detailed spreadsheet with exposed scores, weightings, and comments. Forrester does not endorse any vendor, product, or service depicted in the Forrester Wave. Information is based on best available resources. Opinions reflect judgment at the time and are subject to change. Multichannel Invoice Capture & Extraction • Any Supplier • Any Invoice • PO and Non-PO • Structured or Unstructured • Any Channel (Paper, Email, E-Invoice, etc.) • Full Extraction of Invoice Information Best Practice AP Workflow • Automated Approvals • Easy to Assign, Escalate, Expedite • Visibility of Workflow & Invoice Status • Automatic Audit Logging • Reports & Dashboards • Visual Workflow Design
  17. 17. TotalAgility Accounts Payable Automation 1.1 Benefits Summary 17 Kofax Accounts Payable Delivers: • Increased Employee Productivity • Lower Processing Costs • Faster Invoice Processing • Strengthened Internal Controls • Greater Process and Status Visibility • Optimized Cash Management • Reduced Error Rates • Increased Operational Flexibility • Lower Total Cost of Ownership
  18. 18. TotalAgility Accounts Payable Automation – Sample Screenshots 18 Invoice Validation – Manual intervention after automatic information extraction
  19. 19. TotalAgility Accounts Payable Automation – Sample Screenshots 19 GL Coding – ERP codes available in drop-down to ensure use of correct codes
  20. 20. TotalAgility Accounts Payable Automation – Sample Screenshots 20 Invoice Approval – Second approval triggered by spend limitation and routed via approval hierarchy
  21. 21. TotalAgility Accounts Payable Automation – Sample Screenshots 21 AP & ERP Search – Assisting AP staff to resolve issues, discrepancies and queries
  22. 22. TotalAgility Accounts Payable Automation – Sample Screenshots 22 AP Work Queue – Key data and task status presented to the relevant user
  23. 23. Invoice Activity Analysis
  24. 24. Cash Management Insight
  25. 25. Who Relies on Kofax for Accounts Payable Automation? 26 >1,000 customers operating in 100+ countries
  26. 26. Case Study 27 Challenges  Increase accountability and transparency for all invoices  Reduce labor-intensive invoice and AP handling  Cut paper flow  Enforce standardized process, but add flexibility where needed  50% of staff is mobile Results  Approval time cut to two days  Absorbed 50% workload increase “without effort”  100% of invoices in standard process  99.99% of invoices paid correctly, the first time Customer: Hyundai Motor Company Australia Business: Subsidiary of Hyundai, the world’s most profitable car company Application: Accounts payable automation “With total accountability and transparency, our executives can see exactly where the money is going, who is ordering what, and who is paying what.” –Hyundai Motor Co. Australia
  27. 27. Kofax Summary  AP solutions market leader  Trusted in AP by 1,000+ AP departments  Global, financially strong  Comprehensive, end-to-end solution from a single vendor  Best practice solution  Future-proof  Acclaimed by independent analysts 28
  28. 28. For further information, please contact:  Art Sarno  Product Marketing Director, Kofax  Phone: 1-(949) 783-1608  Email: art.sarno@kofax.com
  1. A particular slide catching your eye?

    Clipping is a handy way to collect important slides you want to go back to later.

×