Your SlideShare is downloading. ×
  • Like
  • Save
Bookkeepers - How to add strategic value to your clients
Upcoming SlideShare
Loading in...5
×

Thanks for flagging this SlideShare!

Oops! An error has occurred.

×

Now you can save presentations on your phone or tablet

Available for both IPhone and Android

Text the download link to your phone

Standard text messaging rates apply

Bookkeepers - How to add strategic value to your clients

  • 1,336 views
Published

Displays how Bookkeepers can leverage invoice automation technologies to add more value to their clients - becoming stratgic advisors on cashflow and liabilities

Displays how Bookkeepers can leverage invoice automation technologies to add more value to their clients - becoming stratgic advisors on cashflow and liabilities

Published in Business
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Be the first to comment
    Be the first to like this
No Downloads

Views

Total Views
1,336
On SlideShare
0
From Embeds
0
Number of Embeds
0

Actions

Shares
Downloads
0
Comments
0
Likes
0

Embeds 0

No embeds

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
    No notes for slide

Transcript

  • 1. Bookkeeping Accounts Payable Automation Mark Davies Business Development Manager [email_address]
  • 2. Agenda
    • Overview of Mosaic Technologies
    • Invoice Automation and Bookkeeping Firms
    • Solution Demo
    • Next Steps
    • Q & A.
  • 3. About Mosaic Technologies
    • Sunshine Coast Based
    • Development Centre – Bangalore, India
    • Core Focus
      • Variable Data Publishing (1:1 Marketing, Transpromotional, Direct Mail)
      • Imaging (Document Scanning, Forms Processing, Mailroom Automation)
      • Document Management (Archiving, Web Access, Workflow, Portals/Intranet).
    • Major Customers – Banking, Insurance AUS & NZ.
  • 4. Accounts Payable in SME Traditional Workflow Delays, Poor Visibility, Lost Discounts, Unhappy Suppliers
  • 5. The cost of processing invoices
    • Average SME processes between 400 and 900 invoices per month
    • Average cost to process an invoice is $12.20, increasing to $55.00 for worst performers
    • Cycle times are between 14 and 35 days per invoice
    • Cost per month to the average SME is $4,880 - $49,500 per month
    Source: Aberdeen Group, March 2008, The accounts payable network 2008
  • 6. Other Issues for Small Business
    • Over 80% of invoices are received in paper format
    • Only 4% of organisations have real-time visibility of critical financial information
    • Overall error rates are 10-15%
    • Supplier queries
    • Unhappy suppliers
    • Cash flow problems
    • Lost invoice discounts.
    Source: AberdeenGroup, June 2006
  • 7. Other Issues for Bookkeepers
    • After the fact reporting
      • Limiting the value you bring to the business
    • Manual Data Entry
      • Painful
    • No Analysis of Spend
      • Missing out on improved purchasing power for your customers.
  • 8. Automated Workflow Instant Reporting, Quicker Approval, Supplier Discounts
  • 9. Benefits of Automation
    • Reduced Paper Flow
    • Reduced Cost to Process – between 30% and 50% ($1,952 - $19,800 per month)
    • Improved cycle times
    • Early payment discounts
    • Improved supplier relationships
    • Reduced Queries
    • Before the fact reporting
    • Bookkeeper becomes a strategic value added relationship – provides insights in how to improve cash flow, purchasing power, visibility on liabilities etc.
  • 10. Festum for Invoices
    • Developed by Finish Software company, Festum
    • Unique volume based licensing
    • Mosaic Technologies offer either standalone installation or hosted service
      • Australian Servers
      • No hardware to buy and maintain
      • No IT support issues
    • Web based client – scope for distributed capture, data entry, validation.
  • 11. Festum Solution Overview Scanning Client 1 Cient 3 Scanning Release Head office / service centre Client 2 Scanning Scanning Recognition Validation Workflow and electronic archive … Etc. Etc. Mail Fax Electronic invoices from vendors, banks, operators (XML- messages)
  • 12. Demonstration
  • 13. Next Steps
    • Develop customised As-Is and To-Be workflow diagrams
    • Gather metrics and key performance indicators from Franchisees
    • Develop business case and ROI
    • Pilot site
  • 14. Questions?