Webinar
Optimize the Lifecycle of Payments to Insights
through Technology & Process
Speakers
• Roger Poirier
Assistant Con...
• Introduction to the Panel
• What’s going on in the marketplace & how
is it affecting businesses
• La Quinta’s Journey to...
Digital = Mainstream

3
3
The Importance of Going Digital

4
4
Goals

5
5
Top Priorities

6
6
La Quinta
A Journey to Excellence
About La Quinta Inns and Suites
•

Headquarters: Irving, TX
– Approximately $900M Annual Revenue
– Privately held with ove...
La Quinta Accounting Goals
•

The La Quinta creed:
– Make it better, faster and cheaper

•

Accounting goals support Corpo...
La Quinta Accounts Payable
•

Non-PO Based system
–

•

Vendor
–
–

•

68K checks per year (1,300 per week)
Over $360M in ...
La Quinta Accounting – The Need for Change
•

Department transitioned from San Antonio in 2007
–
–

•

Outsourced Accounts...
Recipe for Success - Project Selection and Implementation
•

Assess Business Processes
–
–

•

Perform business process re...
La Quinta Partners with Datamatics in 2012
•

Implemented a new and improved outsourced AP solution
– Pre-coded invoices w...
Benefits of an Effective Partnership
•

Other projects realized
– Virtual MasterCard to pay invoices timelier
– Flash repo...
15
Going Digital: AP Invoice Automation Options and Strategies
E-invoicing
w/supplier portal
Receipts
Management
Payment
Mana...
•

Companies that automate accounts payable operate at 12% of
the costs of those that don’t
Companies that operate in an e...
Optimizing your Processes with Datamatics
Procure-to-Pay

Receipts

Shared Supplier Network & Supplier Enablement Services...
The Total Cost of Invoice Processing
AP Processing
Invoice Routing and Approval
Payment
Supplier Questions
Mail Room Proce...
ePM – Complete Integrated Solution

20
Reporting & Analytics Snapshot

21
Managed Services

Datamatics FAS offerings
CFO Dashboards & Analytics

Spend Analytics
Record to
Report

Payment
Solutions...
Quality Certifications
Certified for ISO 27001

HIPAA compliant

Delivering
high quality
at all times

SSAE 16 compliant p...
Thank
YOU

Ram.s@datamatics.com
www.datamatics.com
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Optimize the Lifecycle of Payments to Insights

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Know how you can “Optimize the Lifecycle of Payments to Insights through Technology & Process”. Check key points covered by Guest Speakers, Roger Poirier, Assistant Controller & Lilah Stone, Director of Financial Applications of LQ Management LLC, who shared the success story of leveraging automation in their Finance Back Office to enhance business productivity.

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Optimize the Lifecycle of Payments to Insights

  1. 1. Webinar Optimize the Lifecycle of Payments to Insights through Technology & Process Speakers • Roger Poirier Assistant Controller, La Quinta Management LLC • Lilah Stone Director of Financial Applications, La Quinta Management LLC • Ramaswamy Subramanian Head Global Operations -Datamatics Global Services 12/04/2013 11 AM - 12 PM EST
  2. 2. • Introduction to the Panel • What’s going on in the marketplace & how is it affecting businesses • La Quinta’s Journey to Excellence Agenda • La Quinta Overview • The Need for Change • Our Recipe for Success • LQ’s Partnership with Datamatics • Datamatics Payment Solutions Overview 2
  3. 3. Digital = Mainstream 3 3
  4. 4. The Importance of Going Digital 4 4
  5. 5. Goals 5 5
  6. 6. Top Priorities 6 6
  7. 7. La Quinta A Journey to Excellence
  8. 8. About La Quinta Inns and Suites • Headquarters: Irving, TX – Approximately $900M Annual Revenue – Privately held with over 8,000 employees nationwide • Service Offerings – One of the leading owner, operator and franchisor of select-service hotels serving the midscale and upper-midscale markets through more than 800 hotels in the U.S., Canada and Mexico under the “La Quinta Inns & Suites” brand • Culture – People, Passion, Integrity, Excellence, Unique – Excellence • Do ordinary things extraordinarily well • Good is not good enough • Challenge the status quo 8 8
  9. 9. La Quinta Accounting Goals • The La Quinta creed: – Make it better, faster and cheaper • Accounting goals support Corporate goals through: – Continuous improvement through process review and reengineering – Focus on value added activities – Eliminate unnecessary costs – Evaluate and improve partnerships to achieve our goals 9 9
  10. 10. La Quinta Accounts Payable • Non-PO Based system – • Vendor – – • 68K checks per year (1,300 per week) Over $360M in annual spend P-Card Program – – • Over 10,000 active vendors Terms = 30 days for non-exception vendors Paper Checks – – • Decentralized vendor relationship and invoice submittals/approvals Approximately 700 cardholders Over $16M in annual spend Virtual MasterCard Program – – Implemented in early 2013 $60M in annual spend 10 10
  11. 11. La Quinta Accounting – The Need for Change • Department transitioned from San Antonio in 2007 – – • Outsourced Accounts Payable process – – – – • Contracted with software provider Processor (imaging and workflow) was outsourced Timing and compliance issues Overall lack of visibility to invoices Financials were impacted – – – – • Little to no personnel transitioned Inexperienced staff with little historical knowledge Downstream areas (Fixed Assets, GL) suffered High turnover within the first two years of transition Added headcount to combat problems Delayed close How could this have been prevented? 11 11
  12. 12. Recipe for Success - Project Selection and Implementation • Assess Business Processes – – • Perform business process review Determine viable solutions Devise a Plan – – – Consider other competing projects and resources Analyze the business impact Develop a realistic time line • Select the Right Vendor • Follow a Deployment Methodology – – • Analyze Success Factors Change Management (Communication and Training) Monitor Results and take Corrective Action 12 12
  13. 13. La Quinta Partners with Datamatics in 2012 • Implemented a new and improved outsourced AP solution – Pre-coded invoices with SLAs tied to accuracy – Required reduced timing of invoice processing with SLAs tied to compliance – Customization of software catered to La Quinta’s specific needs – Visibility to invoices as they “move” through the system – Dynamic reporting of metrics and add hoc data analytics – Significant reduction in cost • A showcase project that realized the goal of making it Better, Faster and Cheaper! 13 13
  14. 14. Benefits of an Effective Partnership • Other projects realized – Virtual MasterCard to pay invoices timelier – Flash reporting of expenses throughout the month rather as first reported during close • Allows for partnering on other projects (Future State) – Automated franchise billing – Automated account reconciliation 14 14
  15. 15. 15
  16. 16. Going Digital: AP Invoice Automation Options and Strategies E-invoicing w/supplier portal Receipts Management Payment Management Discount Management Automated P ro c e s s Price compliance Invoice Scan + Workflow Strategic B u s i n e s s O b j e c t i ve s Reduce Costs Increase Controls Optimize Working Capital 16 16
  17. 17. • Companies that automate accounts payable operate at 12% of the costs of those that don’t Companies that operate in an electronic environment capture • Companies who actively leverage spend data and analysis in their • 250% more early payment discounts sourcing process have 67% higher savings compared to those that don’t • Companies that automate accounts payable have an 11% higher contract compliance rate • Visibility of cost is improved by 52% in electronic environments The Result 17 17
  18. 18. Optimizing your Processes with Datamatics Procure-to-Pay Receipts Shared Supplier Network & Supplier Enablement Services Datamatics Procure to Pay Invoice Automation Automated Workflow Price Compliance Discount Management Supplier Self Service Reporting/Analytics Orders Buyers Buyers Buyers Buyers Buyers Buyers Suppliers Invoices Payments 18 18
  19. 19. The Total Cost of Invoice Processing AP Processing Invoice Routing and Approval Payment Supplier Questions Mail Room Processing / Courier Costs Data Entry / Re-Entry Access for Auditors / 3rd Party Explaining Disputes to Suppliers IT Infrastructure / Maintenance / Support Scanning Document / Hardcopy Storage Secured Disposal Environmental / Green Charges Data Retrieval and Reporting Analysis / Best Practices Discounts and Relationships Compliance Reporting 19 19
  20. 20. ePM – Complete Integrated Solution 20
  21. 21. Reporting & Analytics Snapshot 21
  22. 22. Managed Services Datamatics FAS offerings CFO Dashboards & Analytics Spend Analytics Record to Report Payment Solutions Procure to Pay Order to Cash Financial Services, Mortgage Exception Handling 22
  23. 23. Quality Certifications Certified for ISO 27001 HIPAA compliant Delivering high quality at all times SSAE 16 compliant processes Certified ISO 9001-2008 (by DNV) Certified SEI CMMI Level 3, V 1.3 23
  24. 24. Thank YOU Ram.s@datamatics.com www.datamatics.com

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