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The Longest Yard:Automating the Last 2% of AP  for True P2P Excellence          Eric Jones    Lowe’s Companies, Inc.
Who Is Lowe’s?•   Home improvement retail chain•   Over $47 billion in sales (fiscal 2009)•   1700+ stores in US, Canada, ...
Polling QuestionWhat is your organization’s percentage of electronic  invoicing penetration?• > 80%• 60%-80%• 40%-60%• 20%...
Current Field PositionMerchandise                 99%Freight                    100%Indirect/Expense            92%    Con...
IQPC PresentationThe Longest Yard
IQPC PresentationThe Longest Yard
Our Game Plan•   Traditional EDI•   Self Service Invoicing (SSI)•   Purchase Card•   Electronic Employee Expense Reporting...
Polling QuestionWhat percentage of your organization’s indirect  spend transactions are on a P-Card?• > 80%• 60%-80%• 40%-...
Our Game Plan•   Traditional EDI•   Self Service Invoicing (SSI)•   Purchase Card•   Electronic Employee Expense Reporting...
The Longest Yard•   168,000 Paper Invoices (8% of Indirect)•   $4.3 billion•   10% PO Coverage•   2% 3-way Match•   Long C...
The Option Play•   Enter Paper Invoices•   Leverage Existing ‘Plays’•   Scan to Workflow•   Outsource•   OCR/ICR          ...
IQPC PresentationThe Longest Yard
IQPC PresentationThe Longest Yard
Taking Control•   Spend Approved Prior to Commitment•   Approval Routing Controlled by System•   Line Level Detail Availab...
Polling QuestionWhat is your organization’s on-time payment  percentage?• >98%• 95% - 98%• 90% - 95%• 80% - 90%• <80%     ...
IQPC PresentationThe Longest Yard
Thank You! Contact Information:        Eric Joneseric.e.jones@lowes.com      336.946.2744      IQPC Presentation      The ...
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The Longest Yard: Automating the Last 2% of AP for True P2P Excellence

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Lowe's lay out their game plan for achieving true P2P Excellence at our Finance Transformation US event 2010.

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Transcript of "The Longest Yard: Automating the Last 2% of AP for True P2P Excellence"

  1. 1. The Longest Yard:Automating the Last 2% of AP for True P2P Excellence Eric Jones Lowe’s Companies, Inc.
  2. 2. Who Is Lowe’s?• Home improvement retail chain• Over $47 billion in sales (fiscal 2009)• 1700+ stores in US, Canada, and Mexico• Over 200,000 employees• Fortune 50 IQPC Presentation The Longest Yard
  3. 3. Polling QuestionWhat is your organization’s percentage of electronic invoicing penetration?• > 80%• 60%-80%• 40%-60%• 20%-40%• < 20% IQPC Presentation The Longest Yard
  4. 4. Current Field PositionMerchandise 99%Freight 100%Indirect/Expense 92% Consolidated 98%In the Red Zone, on the Goal Line! IQPC Presentation The Longest Yard
  5. 5. IQPC PresentationThe Longest Yard
  6. 6. IQPC PresentationThe Longest Yard
  7. 7. Our Game Plan• Traditional EDI• Self Service Invoicing (SSI)• Purchase Card• Electronic Employee Expense Reporting• Leveraging Internal Systems and Data IQPC Presentation The Longest Yard
  8. 8. Polling QuestionWhat percentage of your organization’s indirect spend transactions are on a P-Card?• > 80%• 60%-80%• 40%-60%• 20%-40%• < 20% IQPC Presentation The Longest Yard
  9. 9. Our Game Plan• Traditional EDI• Self Service Invoicing (SSI)• Purchase Card• Electronic Employee Expense Reporting• Leveraging Internal Systems and Data IQPC Presentation The Longest Yard
  10. 10. The Longest Yard• 168,000 Paper Invoices (8% of Indirect)• $4.3 billion• 10% PO Coverage• 2% 3-way Match• Long Culture of ‘Entrepreneurship’ IQPC Presentation The Longest Yard
  11. 11. The Option Play• Enter Paper Invoices• Leverage Existing ‘Plays’• Scan to Workflow• Outsource• OCR/ICR IQPC Presentation The Longest Yard
  12. 12. IQPC PresentationThe Longest Yard
  13. 13. IQPC PresentationThe Longest Yard
  14. 14. Taking Control• Spend Approved Prior to Commitment• Approval Routing Controlled by System• Line Level Detail Available for Analysis• Vendor SSI available• Matching Records• Exception Management IQPC Presentation The Longest Yard
  15. 15. Polling QuestionWhat is your organization’s on-time payment percentage?• >98%• 95% - 98%• 90% - 95%• 80% - 90%• <80% IQPC Presentation The Longest Yard
  16. 16. IQPC PresentationThe Longest Yard
  17. 17. Thank You! Contact Information: Eric Joneseric.e.jones@lowes.com 336.946.2744 IQPC Presentation The Longest Yard
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