The A/P or Accounts Payable process is the same in every company. Invoices enter the organization (e.g. mail, fax, email etc), they interact with employees, are approved/denied/verified, interact with more employees and then reach their final resting place. Sounds easy, however the time and efficiency in which this happens equates to dollars and sense. That money is often being spent, with inefficiencies with this process.

1. Invoice Processing – Automating your Accounting

2. Accounting = Paper
• The analyst firm
Gartner believes
that, in the United
States, about 75%
to 80% of invoices
are still paper-
based.
Source: Gartner, Accounts Payable Invoice Automation, Gartner RAS
Core Research Note G00163833, December 2008
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3. The Costs of Paper
• Companies spend $20 to
file a document (Time,
materials, copy, etc.)
• $120 in labor to find a
misfiled document
• $220 to reproduce a lost
document
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Association for Information and Image Management (AIIM)

4. Paper-based Invoice Costs
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5. Shipping and Mail
• Branch to HQ Shipping
Costs
• Regional offices send all
their invoices to HQ for
centralized processing
• Even those that scan have
image management issues
• Time delay
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6. Payment Cycles
• According to IOMA,
25% of all invoices are
paid late
• Increased cycle times
with paper
• Data entry errors can lead
to added time to search
and find invoices
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Institute of Management Administration
www.ioma.com

7. Searching and Locating
• Audits and legal issues
can cost $$$
• Physical file searching is
painful
• Costs of finding,
removing, copying and
replacing files
• Customer service issue
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8. Archive and Storage
• Long term storage costs
• File cabinet space
• Disaster recovery
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9. Top Benefits of Digital AP
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26%
29%
34%
34%
36%
0% 5% 10% 15% 20% 25% 30% 35% 40%
FEWER LOST INVOICES
LOWER PROCESSING COSTS
IMPROVED VISIBILITY OF PROCESS
AUDIT PROCESS IMPROVEMENT
REDUCED CYCLE TIMES
Accounting and Finance Survey
Imaging Adoption Survey by
Paystream Advisors

10. Filing Time/Cost Comparison
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• Storage Costs for Paper
 Time to File: 5 minutes
 Cost of Filing Invoice: $1.67
• Scanning and Imaging Costs
 Time to File: 30s to 1.5m
 Cost: $ .50
*based on $20 per hour

11. 3 Types of AP Solutions
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Basic
Intermediate
Advanced

12. Basic
• Low level of Automation
• Simple to implement
• No impact on current process
• Low cost
• Scan and Archive post processing
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13. Intermediate
• Invoices are scanned and routed upon receipt
• Accessed digitally for data entry
• Two screen access
• Simplified approvals
• Data validated
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14. Advanced
• Invoices scanned and routed upon receipt
• Data is automatically extracted & exported to financial system
• Full integration
• Top level automation and benefit
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15. The 5i Solution!
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16. Basic
• Point and Click Data Entry
• Drop downs
• Database Lookups
• Archive to 60+ Formats
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17. Intermediate
• All Basic Options
• Data Extraction of Header Info
• Lookups
• Automation
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18. Advanced
• Vendor Identification
• Automated Header and Line Item Extraction
• Archive and Data to Accounting System
• Approvals
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19. Process View
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Innovative
Ideas for
Intelligent
Interaction of
Information
Team5i@5iSolutionsInc.com