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Accounts Payable Killer Application for SharePoint

Accounts Payable Killer Application for SharePoint



Accounts Payable departments are making great strides in automating their operations by leveraging Microsoft software already available in your organization. According to IOMA, world-class Accounts ...

Accounts Payable departments are making great strides in automating their operations by leveraging Microsoft software already available in your organization. According to IOMA, world-class Accounts Payable departments can process upwards of 80,000 invoices per person per year. This efficiency translates into a cost savings of more than $3 per invoice.



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  • IOMA - The Institute of Management & Administration
  • AmdocsAccounts PayableImaging and Approval Workflow 50 branches 500 invoices per month per location 3 month ROI  Advantage Sales & Marketing 50 LocationsApproval 40% fasterSave $95,000/Year5,000 Users
  • IW Capture These are people like you and me. Work in office and outlook all day. Create lots of contentElectronic Files These are documents like HR Policies, Manuals, Vacation Forms, 401K Info, employee reviews, sales policies, etc Without ECM it is difficult to ensure that the latest documents are usedProduction Capture
  • These are the users typically left out of traditional ECM implementations Too expensive - $2500 per user Difficult to implement Difficult to useMake it easier, not harderLosing your own documents
  • Ease of Use, they don’t want:Complicated save and index processesSearching multiple repositories for related contentInefficient search process (lack of metadata) Desktop not tightly integrated with ECM so users don’t publish content to repository Low user adoption defeats ECM investmentEasy to find Accurate results – too much data Search for : Sales PowerPoint
  • For our first example of KnowledgeLake in action we’ll walk through an Accounting capture experience.This demonstration will step you thru capturing images using KnowledgeLake Capture, indexing, searching and reviewing from within SharePoint.The first step is the scan the documents we start by opening KnowledgeLake Capture. As you can see it has the familiar ribbon bar that you will see in all new Microsoft Office 2007 products. Prior to capturing our accounting pages SharePoint was configured to store and organize these various document types. In this scenario both Invoices and Packing Slips will be captured, we have selected Invoices as our default document. Next press the Scan button.
  • The next step is to index the pages, upon selecting this function the ribbon bar will change automatically. Prior to indexing you could have scanned, moved, deleted and inserted additional pages.
  • In the right column the index panel appears, this lists the various document types and related indexes. Here the Invoice index values are listed. You can also see at the top of the screen the Index ribbon panel offers a number of functions including page, document, field and Zonal OCR.
  • Here we have entered the first key index of PO Number 55555. In this demonstration we have configured the client to enable some index automation.By entering the first index value of 55555 KnowledgeLake Capture sends a request to the SharePoint server configured with KnowledgeLake Image Server to invoke a database lookup. Image Server provides the capability to connect to your LOB databases and send a query requesting additional data about this PO Number. By using auto indexing via db lookup the accuracy of data can be increased, and the labor entering index fields can be reduced dramatically.
  • Here you can see the Invoice Amount and Vendor Name are returned and entered into the index values.
  • Now the only indexes requiring manual entry are Invoice Number and Date. We enter the Invoice number Tab to the Date index.
  • We now complete the indexes for the other documents
  • These indexes will be used later to search for the documents from within SharePoint
  • In addition to manual keyboard entry of key index fields another option is available, Point and Shoot OCR. By dragging a box over any text on the image a drop down list appears offering all available indexes for this document. Simply highlighting that index field will perform OCR recognition of the text within the box and then deliver into the assigned field.
  • The index was successfully converted and entered into the PO Number field. You can see a snippet of the image extracted from the page directly above the index value. Once again the database lookup is initiated and the additional DB lookup fields are entered.
  • The final index field is completed and the document is ready for release to the SharePoint server.
  • By tabbing down to the Accept button the indexing step is completed and the user is prompted to authorize the Release of the Batch. Upon pressing the button the images with their respective index values are delivered into SharePoint. This completes the capture process.
  • Now we’ll move over to SharePoint
  • Here is a typical document folder within SharePoint. As you can see there are a number of invoices with different Invoice numbers, dates, PO Number etc. This is only a small sample of a repository, imagine that this could store 1000’s if not 10,000’s of images. KnowledgeLake actually organizes these documents with SharePoint in folders automatically created as you capture the content, we’re just not making those folders visible in this view.
  • Here you are presented with a search page, created by KnowledgeLake Search, to retrieve your files. Administrators, or even users, can build these very simple yet powerful search pages to find anything stored by KnowledgeLake within SharePoint. Here you can enter the search criteria, these are preset fields setup by the Admin. The end user doesn’t have to worry which folders, or even document types they are search for.
  • In this example the user enters the PO Number and a date, any criteria could have been offered for the users to search. Here we enter 55555 and the date of August 3, 2007. These are the indexes we entered during the capture process. And then press the Search button.
  • At the lower panel of the page the search results are listed. The columns in the result were also pre configured by the Admin. Here you can see two results, one was our Invoice, the second a Packing List, you can also see the additional index fields. It’s clear the results have a PO Number of 55555. Unlike traditional web based search where you really don’t see why the results were returned, here you can easily distinguish which file you wish to view, and why.
  • Upon clicking on the dropdown list, next to our selection, a number of options are listed, two of which are specific to KnowledgeLake. View will launch our image into a new browser window and open the KnowledgeLake Viewer. This viewer requires not Active X or Java plug-ins and will work with most versions of Internet Explorer, users don’t have to install anything on their system. No confusing and sometime threatening 3rd party installations.
  • This zero-footprint viewer makes it possible to view thumbnails and rotate, zoom, print and email images directly from a web browser. In addition, users can view and/or edit the SharePoint properties while viewing the document. In addition, KnowledgeLake View is integrated into SharePoint and Office Workflow, so users can participate in or start workflows directly from the viewer. Here we can see our multipage Invoice along with the stored index values.
  • You can also annotate documents from the browser using text and image stamps, highlights, line drawings and sticky notes. Workers can also bookmark specific pages of large documents for easy access, plus easily send URL Links to these bookmarks to any SharePoint user.
  • Here you can see a Highlight annotation added to the document bringing attention to the Invoice #, date and Customer ID.This will conclude the demonstration of capturing, indexing, storing and retrieving an image, we’ll now move onto capturing an e-document.
  • Document copied 19 timesReduce Environmental Impact – Less paperImprove Operational Efficiency - WorkflowEnhance Customer Service – Faster responseEliminate Shipping and Faxing – Dist. CaptureStreamline Document Processing - WorkflowEnable Regulatory Compliance – Records MgmtDecrease Operating Costs – All aspectsDecrease Storage Space – No more filing cabinetsProvide Disaster Recovery - Backup
  • Hard Dollar ROI vs. Native SPPer Information Worker (IW)Save 10 document/files per dayIndex 10 documents/files per daySearch 10 documents/files per day+ $1,000 per IW per year (~ 47 hours)Production ECM ROI$25,000 - $35,000 per capture specialistSame IW savings as above
  • Every day, in offices throughout the world, people are in constant motion, creating products, delivering services, making decisions, and forging relationships. What is the one ingredient essential to driving success in all these vital activities? Easy access to the documents and data needed to produce results.
  • KnowledgeLake provides companies like these with the leading document imaging and capture software that simplifies how Microsoft® SharePoint® users organize, store, access, and route millions of documents. These documents include everything from reports, correspondence, invoices, forms and other printed materials to faxes, e-mail messages, financial data, and other information stored electronically.
  • Not only can KnowledgeLake can deliver a new ECM system, but also migrate and integrate with other leading industry solutions.
  • KnowledgeLake drives user adoption Ease of use of productsAutomated content loading and indexingDirected/Index Search with robust viewingConsistent user experience with Office and Image documentsKnowledgeLake drives Hard Costs SavingsSavings of 43 hours per year per employee (save, index, search 10 docs/day)$1,000 per desktop user (SAVINGS POTENTIAL $$$)Save $20 in labor to file a documentSave $120 in labor to find a misfiled documentSave $220 in labor to reproduce a lost documentKnowledgeLake helps leverage Microsoft Investment

Accounts Payable Killer Application for SharePoint Accounts Payable Killer Application for SharePoint Presentation Transcript

  • Accounts Payable - The Killer App for SharePoint
  • Invoice Processing
    Average cost to process an invoice around, $12
    Firms with high level of automation (imaging, EDI or e-invoicing, near paperless processing, etc.) have half the processing costs compared to non-automated firms with a median cost to process an invoice $6 going as low as $3
    Therefore if you process just 1000 per month savings could reach over $70000 per year.
  • Benefits of AP Automation
    Capture - Scanning
    Increased processing speed
    Reduced labor – less data entry
    Reduced paper handling
    Decreased errors, Higher Accuracy
    Feeds ERP (Great Plains, SAP, Oracle, Lawson, etc.) systems
  • Benefits of AP Automation
    Results of electronic paper
    Faster retrieval time Easy access to invoices (electronic)
    On-Time payments
    More early payment discounts
    Auditable business processes – greater visibility
    Support compliance
    No more misplaced/lost invoices
    Storage costs reduced or eliminated
  • Agenda for Today’s Webinar
    Challenges facing Accounts Payable departments
    What to look for in a solution
    Benefits of automated invoice processing
    Invoice capture process
    Sample implementation
    Why a Information Worker centric solution
    Invoice capture demonstration
    Product Overview
    KnowledgeLake customer case studies
  • Challenges and Key Issues for Accounts Departments
    Found in majority of organizations
    In fact any organization involved in buying or selling goods!
    Need for process automation increases
    70% of incoming mail is bills
    96% of processing is manual keying of data from paper
  • Things to consider when you review Your Process
    Identify and document existing processes
    What errors occur and what improvements can be made
    Remove paper from the process early on, sooner the better
    Store off-site if needed
    Control access - secure storage
    Have an accurate audit trail - record receipt
    Track users productivity
  • What to Look for in a Solution
    Ease of use
    ‘Out of the box‘
    No complex learning period
    Requires little to no maintenance
    No supplier-specific set-up or 'tuning' required
    Same level of performance when invoices change or are added
    Improve your accounts payable process
    Automatically prioritize invoices from suppliers with early-payment discounts
    Route high-value invoices or problem invoices to exception handling - Workflow
    Delivers maximum cost reduction, don’t pay for more than you need. Take advantage of existing software and hardware investment
  • Benefits of Automated Invoice Processing Review
    Improved Data Accuracy
    Automation yields better data accuracy
    Preventing errors less costly than correcting them
    Human errors inevitable
    Difficult to catch, expensive to reverse
  • Reduce Invoice Processing Delays
    Reduce the time delay between receipt of invoice and posting
    Leverage early payment discounts
    Avoid late payment penalties
    Financial information available real-time
    Quicker month, quarter and year end close
    AP staff are knowledge workers, not data entry clerks
    Separating data entry from accounts payable tasks saves money
    Accounts payable staff use their expertise in a more productive manner
    Negotiating discounts
    Reduce Paper Handling
  • Invoice Automation Process
  • AP Automation Challenges
    No such thing as a typical invoice
    Invoices vary in format
    Multiple pages
    Too many different formats to template
  • Classifies the document type
    Purchase order
    Credit note
    Packing Slips
  • Data for Extraction
    Purchase Order Number
    Invoice Number
    Supplier Details
    Grand total
    Information is extracted and validated by operators or through database look-ups
    Matched to ERP system
  • Backend System Integration
    Best-of-breed solution
    Open architecture platform - Compatibility with back-end systems
  • Customer Examples
  • “We now receive invoice approvals in hours versus weeks.”
    “With KnowledgeLake and SharePoint, we got rid of faxing and emailing for approvals [and] we increased processing by 40%!”
    Larry Bryant
    AP Supervisor
    Lewie Wake
    Advantage Sales & Marketing
    “The document capture solution from KnowledgeLake and Microsoft SharePoint has allowed Build-A-Bear associates to scan business critical documents from stores around the country and share them in SharePoint.”
    Dave Finnegan
    Chief Information Bear
    Build-A-Bear Workshop, Inc.
    Client Testimonials
  • Why a Microsoft Centric Solution
  • ECM Information Input Sources
    Information Worker (IW) Capture
    Ad hoc input: scanning, electronic files
    Desktop driven content
    Production Capture (paper to image)
    Converting paper and working with digital images
    Centralized and remote capture
    High volume
    Scan and index done by dedicated staff
  • Information Worker (IW) ECM
    Who are Information Workers
    Senior management, middle management, staff, clerks from all departments
    Busy people who don’t want new responsibilities unless the investment will make their job easier
    Produce and Handle High Value Content $$$
  • Information Worker ECM Challenge
    Ease of Use, they don’t want:
    Complicated save and index processes
    Searching multiple repositories for related content
    Inefficient search process (lack of metadata)
    Desktop not tightly integrated with ECM so users don’t publish content to repository
    Low user adoption defeats ECM investment
  • Capture Demonstration
  • Separator Sheets
  • Enter SharePoint
  • Capture eDocs
  • LOB IntegrationGreat Plains
  • AP Just the On Ramp to a Document Management Environment
  • Document Imaging Benefits
    Reduce Environmental Impact
    Improve Operational Efficiency
    Enhance Customer Service
    Eliminate Shipping and Faxing
    Streamline Document Processing
    Enable Regulatory Compliance
    Decrease Operating Costs
    Decrease Storage Space
    Provide Disaster Recovery
    • Capture E-documents From Desktop, Outlook And Also Drag-n-drop
    • Accurately Index Documents
    • Release Into SharePoint Libraries
    • Complete Process In Just 2-clicks!
    • Scan Paper Documents With Desktop, Departmental And Production Scanners
    • Index Documents
    • Release Into SharePoint Libraries
    KnowledgeLake extends the native capabilities of SharePoint to give you the freedom and flexibility to scan, index, store, retrieve and view large volumes of documents in a variety of ways
    • Database Lookup & Index Automation
    • Perform Exact Relevance Searches With Any Combination Of Index Values
    • Central Enterprise Indexing Schema
    • Zero-footprint Image Viewer
    • Capture From Office Copiers, Multi-function Devices, Fax Servers And Network Scanners
    • Index And Scan Via Web Browser
    • Automate PDF, OCR Conversion
  • Total ECM with SharePoint
    Centralized and remote paper capture
    IW capture for electronic and paper content
    Metadata driven pinpoint searches
    Total ECM w/ SP: scan, index, search, view, manage
    Leverage SharePoint: repository, workflow, document management, records management, web content management
    Fast user adoption
  • KnowledgeLake SharePoint Success
  • High Value Documents
    KnowledgeLake Customer Processes
  • Sample KnowledgeLake Customers…
    Bank of America
    Axis Capitol
    Western Union
    Lutheran Church Extension Fund
    Cambridge Investment Research
    Circle Lending
    Carle Clinic
    Good Shepherd Hospital
    BJC Healthcare
    AAA Auto Club
    Pella Window
    Valero Oil
    Delta Gas
    Advantage Sales/Marketing
    Unified Government
    Adams County
    State of Illinois
    Washington University
    Winona State University
    Notables. . .
    Scottrade – 20M Documents, 275 Capture Locations
    Accosta – 285 capture locations
    Advantage Sales/Marketing – 5,000 Users
    Amdocs – Oracle Financials
    Valero Oil – SAP
    Build-A-Bear – Lawson
    Legacy Migrations
    Washington University – Optika/Stellent
    LCMS– FileNet
    Tricor Braun – Documentum
    House Hold Names
    Bank of America
  • Company
    Document Imaging & Capture for Microsoft SharePoint
    Regional offices throughout North America
    Partners throughout the world
    Years of experience with legacy ECM products
    First mover in SharePoint ECM since 2003
    100’s of successful customers using SharePoint for ECM
    Founded in 1999
    Headquartered in St. Louis
    Privately held by KnowledgeLake executives and Fujitsu
    Managed Gold Certified ISV
    Member Technology Adoption Program
    Member Partner Advisory Council
    Member Developer Advisory Council
    About KnowledgeLake…
  • ROI with KnowledgeLake
    94% of imaging projects pay for themselves in less than 1 year*
    KnowledgeLake drives user adoption
    KnowledgeLake drives Hard Costs Savings
    Savings of 43 hours per year per employee (save, index, search 10 docs/day)
    $1,000 per desktop user (SAVINGS POTENTIAL $$$)
    Save $20 in labor to file a document
    Save $120 in labor to find a misfiled document
    Save $220 in labor to reproduce a lost document
    KnowledgeLake helps leverage Microsoft Investment
  • Resources
    KnowledgeLake White Papers
    Product Demonstrations
    Streaming Presentations
    ROI Calculators and Assessments
  • Contact Information
    Sales at KnowledgeLake
    KnowledgeLake, Inc.3 City Place Drive, Suite 700 Saint Louis, Missouri 63141
    Phone: 314.898.0500Fax: 314.898.0501Toll Free: 888.898.0555