Invoice Data Capture
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Invoice Data Capture

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    Invoice Data Capture Invoice Data Capture Presentation Transcript

    • Invoice Data Capture ProjectHow The Walt Disney Company Transformed AccountsPayable Shared Services with Intelligent Data CapturePresented by: Jeffrey P. Valentino 1
    • About the Presenter… Jeff Valentino• Sr. Manager, Accounts Payable; Disney Worldwide Shared Services (North America and EMEA Regions)• 20 years of Financial and Operational management experience with Fortune 100 companies• Held a variety of leadership positions with a focus on strategic growth, reversing financial declines and capturing cost reductions via process redesign and performance enhancement programs• ~ 5 years with The Walt Disney Company in a Shared Services environment• Earned an MBA at University of Florida and Six Sigma Green Belt Certified
    • Who is ?Whether keeping a smile on at our parks, presenting the news at ABC, creating films and television shows, building attractions or stores, or covering sporting events, The Walt Disney Company is a multimedia conglomerate with focuses in 4 key areas…….
    • 149,000 employees worldwide 42 Countries and 10 languages EMEA Austria Belgium Czech Republic Denmark Finland France Germany Greece* Hungary* Asia-Pacific Israel* Australia Italy China Netherlands Korea Norway Hong Kong Poland* North America Japan Portugal Canada Latin America Malaysia South Africa* Puerto Rico Argentina New Zealand Spain USA Brazil Philippines Sweden Chile Singapore Switzerland Colombia Taiwan Turkey* Mexico Thailand UK* Have limited scope Peru Venezuela
    • Organization – Disney Worldwide Shared Services (DWSS) DWSS Mark Kingman Financial Travel Employee/ Optimization HR Services Services Cast Services Services Support Travel & Project Team/ General Employee Quality, Accounts Expense Global Payroll Information Accounting, Administrative Technology Controls, Human Cash & Banking, Payable Management, Travel Services & Finance Resources and Fixed Assets Card AdminHC: 43 53 15 90 39 40 12 5 1 Key Services: • Fixed Assets • Employee Inquiries • Domestic • Travel Spend • Global Travel • Payroll • Project • Quality • Escheatments/ • Employee Doc Mgmt and EMEA Analysis • Event Booking • Payroll Management • Metrics Unclaimed • Employee Transaction AP • Credit Card • Production Taxes • IT (local apps) • Controllership Property Processing Admin Travel Support • Financials • Cash and • Compliance Training • Domestic Administration Banking and EMEA • I9 stewardship • General Acct T&E (account reconciliations) 6
    • DWSS Annual Impact/Scope TRANSACTIONS EMPLOYEE/CAST IMPACT • Manage 29k Active Credit Card Accounts • Over 150k Inquiries • Pay 5-6M invoices • Process 350k Expense Submissions, 31K • Over 120k Employees/Cast Paid; 220k W2s Items Audited produced • Process 3-400K Fixed Asset Transactions • Manage Annual Compliance Training and 4k Projects Capitalized • Process over 200k Employee/Cast Status • Submit over 4,000 Tax Filings Changes, Fitness Reimbursements, Educational • Reconcile 366 Cash Accounts and over Reimbursements, Leaves, etc. 200k Active Ledger Accounts • Manage Employee/Cast Documents FINANCIAL • $18B disbursed in AP • $5B disbursed in Payroll • $3-4M in Travel Card spend • Account for $25B in Assets • Remit over $ 1B in Payroll taxes • 42k Wires for $19B to date 7
    • A/P Statistics and Trends ~ 5M+ invoices annually ~ $18B in disbursements annually Global scope encompasses North America and EMEA countries Cost per invoice $1.61 May ’04 May ’07 May ’10 May ’11 FYE ’11 (Sept) FY’12 (Dec)Headcount 105 88 64 61 53 53Defect Rates 11.3% 10.1% 10.1% 10.7% 9.4% 8.6%Invoices Per FTE 38K 59K 64K 69K 72K 83K (EST)(annualized)Electronic Payments 15% 32% 48% 49% 53% 53%Electronic Invoicing 86% 89% 92% 92% 92% 92%Invoices POT(HOT) 67% 82% 91% 92% 95% 95%
    • Continuous Improvement Strategy Work Breakdown Goal Strategy Tier 1 • Customer partnering • Improve skills and focus • Value-added consulting/service/analysis ENHANCE • Information management • Complex issue resolution FTE’s FY06 FY11 • Process management/controls 17 29 Tier 2 • Process-wide improvements • Data fixing ELIMINATE • Edit at source • Measure and improve • Routine problem resolution FY06 FTE’s FY11 • Exception routines 39 20 Tier 3 • Data entry and manipulation AUTOMATE OR • Self service via internet • Repetitive transactional tasks • ERS, EDI, IDC….. OUTSOURCE FTE’s FY06 FY11 • Vendors 28 4 Technology is a true enabler for driving world-class service, efficiency, and value
    • Accounts Payable Roadmap Zero - Touch Paper Free Imaging Paper Enabled Based Manual Workflow E-Invoicing P-to-P
    • Invoice Processing Project BackgroundProblem Statement• Disney manually processes ~500,000 invoices annually (92% electronic)• Posting of paper purchase order related invoices is labor intensive• Paper invoices detract from our Green Standard and Carbon Footprint Reduction InitiativesGoals/Objectives:• Reduce DWSS AP manual effort applied to scanned invoices by 80% o Auto-post invoices with no manual intervention o Identify defective invoices - without manual intervention• Reduce DWSS AP indexing costs by 80%• Provide path to migrate to 100% Green Standard for invoicing o Allow for vendor/BU-direct submission of invoice images (e.g. email a PDF image)• Use new data to drive analysis efforts in PTP (e.g. improved discount capture)• Define translation opportunities across PTP and DWSS processes 11
    • Invoice Processing Project Background Project Scope: • Implement technology to provide image-based invoice data capture o Provide for auto posting of invoices into SAP • Integrate technology solution into existing EIT imaging environment Infrastructure • SAP ERP: “TWDC has the largest single instance of SAP in the world” • SAP Workflow • EDOCS image archive • Microsoft SQL Server Enterprise 12
    • Technology Selection ApproachMulti-Phased RFP Approach• Phase 1: Selected top RFP candidates out of 7 industry leaders to move to Phase 2• Phase 2: On-site assimilation of TWDC vendor invoice sample (“Bake-off”) o Statistical sample of 3,028 invoices representing a variety of invoice challenges  All languages, currencies, purchase order types, ranges of defects, types of inbound documents  USA, UK, France, Spain, Italy, Portugal, Germany, Austria, Switzerland, Belgium, Netherlands, and Luxemburg o 2 vendors showed; 4 bowed out, 1 vendor could not comply with terms
    • Technology Selection ApproachBrainware:• 3,028 Images processed through OCR – “Distiller”• 1,005 Images made ready to Post – “Verifier”• Throughput  76% Extraction Rate  600 invoices/ person/ day  35% Straight Thru Processed (STP) – zero touch• Impact = 8 FTE Reduction The clear• 5 Customizations identified during event choice!Industry Competitor:• 3,028 Images processed through OCR• 95 Images made ready to Post (on 2nd attempt)• Throughput  130 invoices/ person/ day  0% Straight Thru Processed (STP) – required human intervention• Impact = 0 FTE Reduction 14
    • Other Considerations … • Brainware is the only true provider of intelligent data capture and enterprise search solutions, and is widely regarded as the market leader in this space • Brainware is the only true intelligent data capture platform that we were able to validate for extraction and processing data from both structured and unstructured documents • Brainware first launched it’s intelligent data capture solution, Brainware Distiller, in 2000 • Brainware has successfully delivered more than 350 implementations of its software solutions worldwide; throughout the Americas, Europe, the Middle East, and Asia
    • Brainware Customer Base
    • Recommendation & Business CaseRecommendation• Implement Brainware  Complements EIPP for a complete invoice payment strategyBusiness Case• DWSS AP Savings  Labor reduction: 8 FTE  Eliminate the need to index imaging: $ Savings  Payback period: ~ 2 years with positive NPV + 20%• Intangible Benefits  Reduced cycle-time  Increased paid-on-time  Comprehensive invoice process
    • BW Development and Implementation – “less than 100 days”
    • Progress Since Go-Live ... IDC: Brainware Auto-Posting Invoice Activity Auto Post Linear (Auto Post)100.0% 80.0% 60.0% 53.3% 40.0% 30.7% 20.0% 0.0% 19
    • Questions?