PayStream Advisors and Basware teamed up for a live webcast featuring eInvoicing Trends & Truth for 2014.
Through our research PayStream Advisors has seen tremendous developments in Global eInvoicing. This webcast educated AP, Purchasing and IT professionals with the information they need in order to make the right eInvoicing decisions for their company.
7. Today’s Presenters
Henry Ijams
Mr. Ijams' 25 years of experience focuses on trends and technologies in
financial operations automation including strategies regarding the
automation and benchmarking of Purchasing and Payables processes.
Through PayStream Advisors, Mr. Ijams consults with domestic and
international organizations that want to take advantage of leading
practices and automation solutions.
Bob Cohen
Bob Cohen is Vice President of North American Marketing and is responsible
for Basware’s North American press and analyst relations.
Because of his extensive work in purchase to pay for the past 10 years Bob
has become an expert in global eInvoicing. Bob received his Bachelor of
Science degree in Marketing from Bryant University and his Masters of
Business Administration in Finance from the University of Connecticut.
9. What is an Electronic
Invoice?
An electronic invoice is an invoice
that moves from the sellers billing
system to the buyer’s Account
Payable (AP) system without any
data entry
10. True
einvoice
Not
eInvoice
• Structured invoice
data issued in
Electronic Data
Interchange (EDI) or
XML formats
• Structured invoice
data issued using
standard Internet-based
web forms
• Paper invoices sent
via fax machines
• Scanned paper
invoices
• Invoices issued in
PDF or Word
formats
11. Poll Question #1
What percent of your invoice are truly
electronic?
< 10 Percent
11 – 40 Percent
40 – 60 Percent
More than 60 Percent
12. Basware in Numbers
Scale, performance and established leadership credentials
on an international scale.
Our
History
Founded 1985
Publicly listed 2000
Ranked #1/#2 by analysts across P2P
and e-invoicing
Offices in Europe, North America
Corporate
Performance
Net sales > $160m
in 2013
Millions of business users
in 1 000 000 organizations
in >100 countries
Basware Commerce
Network
>80m e-invoices/POS
$500b total annual
spend across network
170+ partners
>60 e-invoice formats
Basware Commerce Network
>80m eInvoices/POS
$500b total annual spend across
Network
170+ Partners
13. True eInvoice
• Structured invoice data issued in
Electronic Data Interchange (EDI) or XML
formats
• Structured invoice data issued
using standard Internet-based web forms
16. Broad Electronic Invoice
Trends
• Finance is getting out of the paper business
– Continued drive for paperless processing is pushing more
managed services
– What is your organizations competency?
• Touchless processing is driving Electronic
– Electronic processing to optimize invoice management
• 2015 is the year of collaborative commerce
– Suppliers want to submit invoices electronically
– 2015 will be about collaboration and self-service
17. Business Benefits
of eInvoicing going global.
For Buyers For Suppliers For Managers
Reduced In addition Cost to cost savings, the Faster ability payments to automate
Improved visibility
Increased invoice Accuracy processes, and integrate Reduced with other costs business
Optimized working capital
Increased systems AP Productivity provides business efficiency Fewer rejected and invoices revenue
Improved compliance
Faster generating processing and opportunities.
payment
Increased productivity
cycles
Improve supplier/customer
relationships
Focus in higher value activities Enhanced accounts reconciliation Enhanced IT system optimization
Enhanced accounts reconciliation Improved customer relationships Meeting green initiatives
Improved cash management Improved cash management
Reduced fraud, duplicates and late
Alternative finance options
payment fees
Improved dispute handling
Improved supplier relationships
Optimized Community
Management
19. Average processing cost per
invoice
(combination of paper and electronic)
$6.70
$15.00
$2.36
Innovators Mainstream Laggards
20. Tax Compliance Benefits
eInvoicing going global.
• Governments receive as much as
30% of their Gross Domestic Product
(GDP) from VAT and sales tax
revenues.
• Government controlled systems in
Latin America
• EU has Explicit Guidelines
• Each country has its unique set of
regulations and maintaining
regulatory compliance on an ongoing
basis is one of the key challenges for
invoicing.
21. Tax Compliance Benefits (cont)
• Asian and Latin America (and increasingly
Southern and Eastern European countries) see
benefits of eInvoicing mandates
• Country-wide projects are being launched by
the tax authorities with the aim of reducing tax
evasion
• Suppliers and buyers have to send either
invoice data or at least reports in electronic
format for real-time validation and auditing
23. e-Invoicing Growing Globally
Global Adoption
• 500 billion invoices/bills globally
• 40 billion exchanged paperless (Latam 26 billion, NA 7 billion, Europe 6 billion)
Growth rates are impressive but potential is still tremendous
24. How Mature is eInvoicing?
11-60%
>60%
<10%
Stage 1 Stage 2 Stage 3
25. Maturity Stage 4
• No Data Keying
• Small Processing Staff
• Touchless Processing
• More then 60 percent of invoices are electronic
• Company goals are for 90+ percent electronic
26. Network vs. Portal
• PayStream Definition: A supplier portal is a
collaborative website that provides a single-point
access for suppliers to view and exchange
information such as invoices
• Network: Buyer/Supplier Networks connect
many buyers with many suppliers.
28. Supplier Adoption Strategy
Accounts
Payable
Large
Buyer
Small
Accounts
Receivable
Large
Supplier
Small
Strategy #1
Who has the influence?
Goal: Make it easy
and desirable to use
electronic invoices.
Strategy:
Build campaigns to
meet the different
needs of your
diverse trading
partners
Mid
Size
Mid
Size
Strategy #2
29. Audience Poll Question #2
What’s holding you back
from electronic invoicing?
- Nothing, we’re moving forward
- Lack of executive sponsorship/Not a top priority
- Limited Business Case/ROI
- Lack of IT Resources/ERP Upgrade
31. Common Success Factors in
eInvoice Innovators
1. Long term paperless goals
2. Supplier engagement
strategy
3. Metrics to define success
4. Enabled by service partners,
not just technology solutions
32. Audience Poll Question #3
What is your focus for
2015?
- Research eInvoicing
- Establish eInvoicing Project
- Expand existing eInvoicing program
- Replace an existing eInvoicing program
34. What is Perfect?
Perfect [adj., n. pur-fikt; v. per-fekt]
Definition: Entirely without any flaws, defects, or
shortcomings
35. 2020 is about Perfect
Processing
1. Touchless Transactions
2. “First Pass” Processing
3. Stakeholder Collaboration
36. The Basware Commerce Network
The world’s largest open commerce network connecting buyers and suppliers,
improving relationships and ultimately enabling the flow of commerce.
> 1.2m end-users
> 1m buyers
& suppliers
170 interoperability
partners
> 80m e-invoices
VAT compliance in
> 50 countries
> 60 e-invoice formats
supported
> $500bn transactions
Users in >100 countries
37. How do I Get Started Today?
Analyze the Options
Build the Business
Case
Document the metrics of invoicing
• How it your process work today?
• What is your cost? Are you going to remain compliant with
government regulations?
• What should you do to improve the process?
Establish Long Term
Goals
39. Tools and Education
• Stay tuned for PayStream’s Global Electronic Invoicing
Trends Report
• Take advantage of complementary resources such as
PayStream’s Cost Per Invoice Calculator
• Utilize PayStream’s Business Case Builder to get your
project moving
• Get involved! PayStream’s 2015 INNOVATE
Conference is September 13-16 in New Orleans.
40. Questions
Henry Ijams - Managing Director
PayStream Advisors
henry.ijams@paystreamadvisors.com
22
?
41. Thank You
for spending your time with us.
www.paystreamadvisors.com