The document discusses how implementing AP document management and workflow technology can help align AP processes with ERP solutions to drive efficiency. It notes that while technology is important, processes must be efficient first. Evaluating current paper-based and inefficient processes is key. Automating AP through technology integration can provide visibility, empower data-driven decisions, and help accounting evolve from a cost center to a strategic partner. A case study shows how one company standardized paper-based AP/AR through a Metafile and Microsoft Dynamics integration.
Accounts payable and Best Practice Principles Automation - Sydney 2016Alexandra Khalifa
The document discusses enabling best practices for accounts payable automation. It begins with an agenda for the event covering various topics around AP automation. It then discusses challenges with current manual AP processes including time spent on physical filing, data entry, long processing times and lack of visibility. It promotes the benefits of AP automation in reducing costs, errors and bringing more control and visibility to the process. Key capabilities needed for effective AP automation are identified as multi-channel invoice capture, best practice workflows, system integration, analytics and mobility. The document advocates applying best practices to streamline the AP process.
For cf os, the time to deploy procure to-pay software is nowKaizenlogcom
This document discusses procure-to-pay software and its benefits. It notes that procure-to-pay software can streamline purchasing processes, improve transparency, and help control costs. The document also indicates that while only 25% of invoices in the US are electronic, more companies are adopting procure-to-pay software to gain efficiencies from electronic invoicing and automating purchasing. It concludes that without procure-to-pay software, companies may be missing out on cost savings opportunities.
This document outlines Scarborough Borough Council's plans to implement a Procure to Pay (P2P) process. Currently, only 25% of spending goes through purchase orders. The new P2P process will require all purchases to be made through purchase orders to improve budgetary control, compliance, and efficiency. It will be implemented in Technology One and rolled out between June and September 2012 through training workshops and guidance materials. The session will cover the new requisition, approval, receipt, and invoice processes.
The document discusses the procure-to-pay (P2P) process and opportunities for improvement. It notes that the P2P process starts with identifying a need and ends with a supplier being paid, but that the upstream and downstream parts are often managed separately. This leads to inefficiencies. The document outlines typical challenges across the P2P process and recommends leading practices to address them, such as standardized online requests and centralized invoice processing. It also presents a three-stage maturity model for P2P processes and describes how the consulting firm ScottMadden can help organizations improve P2P.
"Making Accounts Receivable Automation Work for You" Webinar Slide DeckJean-Pierre Foehn
Amalto's latest webinar "Making Accounts Receivable Automation Work for You," primary focus was to help attendees understand what invoice automation truly is and how they should go about the process of automating their Accounts Receivable. Hear host Bryan Pederson, Amalto Operations Director of Northern U.S. and Canada, and special guest Joe McNally, President of JMA Consulting, provide listeners with their own personal experiences of what should and shouldn't be done when considering to automate your Accounts Receivable processes here:http://bit.ly/2nPngSH
This presentation describes the state of Accounts Payable and uncovers the paradigm shift underway. With greater integration with the procure-to-pay (P2P) process, expect a more connected, automated, and transparent operation. Find out how the Tradeshift platform is designed for the new world of P2P.
This document discusses the challenges of implementing an ERP system at Warid Telecom. It notes that Warid needs to be more responsive, flexible, and resilient to meet stakeholder expectations. Implementing an ERP system could help improve operational efficiency across various business functions. Some key challenges of ERP implementation include effectively changing employee behaviors, integrating data from all parts of the value chain, managing changes, and addressing the "knowing-doing gap". The document provides recommendations around ERP planning, availability checks, implementation approaches, and benefits of a successful first implementation.
The document discusses how ERP systems are essential for e-commerce and are being integrated with new technologies. It describes how application service providers allow smaller companies affordable access to ERP without large upfront costs. Emerging standards like Web services, XML, and RFID are allowing easier system integration and data sharing between businesses and their ERP systems.
Accounts payable and Best Practice Principles Automation - Sydney 2016Alexandra Khalifa
The document discusses enabling best practices for accounts payable automation. It begins with an agenda for the event covering various topics around AP automation. It then discusses challenges with current manual AP processes including time spent on physical filing, data entry, long processing times and lack of visibility. It promotes the benefits of AP automation in reducing costs, errors and bringing more control and visibility to the process. Key capabilities needed for effective AP automation are identified as multi-channel invoice capture, best practice workflows, system integration, analytics and mobility. The document advocates applying best practices to streamline the AP process.
For cf os, the time to deploy procure to-pay software is nowKaizenlogcom
This document discusses procure-to-pay software and its benefits. It notes that procure-to-pay software can streamline purchasing processes, improve transparency, and help control costs. The document also indicates that while only 25% of invoices in the US are electronic, more companies are adopting procure-to-pay software to gain efficiencies from electronic invoicing and automating purchasing. It concludes that without procure-to-pay software, companies may be missing out on cost savings opportunities.
This document outlines Scarborough Borough Council's plans to implement a Procure to Pay (P2P) process. Currently, only 25% of spending goes through purchase orders. The new P2P process will require all purchases to be made through purchase orders to improve budgetary control, compliance, and efficiency. It will be implemented in Technology One and rolled out between June and September 2012 through training workshops and guidance materials. The session will cover the new requisition, approval, receipt, and invoice processes.
The document discusses the procure-to-pay (P2P) process and opportunities for improvement. It notes that the P2P process starts with identifying a need and ends with a supplier being paid, but that the upstream and downstream parts are often managed separately. This leads to inefficiencies. The document outlines typical challenges across the P2P process and recommends leading practices to address them, such as standardized online requests and centralized invoice processing. It also presents a three-stage maturity model for P2P processes and describes how the consulting firm ScottMadden can help organizations improve P2P.
"Making Accounts Receivable Automation Work for You" Webinar Slide DeckJean-Pierre Foehn
Amalto's latest webinar "Making Accounts Receivable Automation Work for You," primary focus was to help attendees understand what invoice automation truly is and how they should go about the process of automating their Accounts Receivable. Hear host Bryan Pederson, Amalto Operations Director of Northern U.S. and Canada, and special guest Joe McNally, President of JMA Consulting, provide listeners with their own personal experiences of what should and shouldn't be done when considering to automate your Accounts Receivable processes here:http://bit.ly/2nPngSH
This presentation describes the state of Accounts Payable and uncovers the paradigm shift underway. With greater integration with the procure-to-pay (P2P) process, expect a more connected, automated, and transparent operation. Find out how the Tradeshift platform is designed for the new world of P2P.
This document discusses the challenges of implementing an ERP system at Warid Telecom. It notes that Warid needs to be more responsive, flexible, and resilient to meet stakeholder expectations. Implementing an ERP system could help improve operational efficiency across various business functions. Some key challenges of ERP implementation include effectively changing employee behaviors, integrating data from all parts of the value chain, managing changes, and addressing the "knowing-doing gap". The document provides recommendations around ERP planning, availability checks, implementation approaches, and benefits of a successful first implementation.
The document discusses how ERP systems are essential for e-commerce and are being integrated with new technologies. It describes how application service providers allow smaller companies affordable access to ERP without large upfront costs. Emerging standards like Web services, XML, and RFID are allowing easier system integration and data sharing between businesses and their ERP systems.
This document outlines best practices for PeopleSoft procurement. It discusses leveraging integration across procurement to reduce costs, improve controls and visibility. It provides tips on compliance, streamlining processing, extending automation to suppliers, and gaining business insights. Specific topics covered include procurement and supplier contracts, purchase orders, recurring vouchers, procurement cards, and eProcurement approvals. The overall aim is to provide guidance on optimizing procurement processes through PeopleSoft to increase strategic focus and return on investment.
Best practices-b2 b-collection-managementJohn Metzger
This document provides best practices for B2B accounts receivable collection strategies. It discusses leveraging technology like a SaaS collection system to automate workflows and prioritize accounts. Key performance indicators like days sales outstanding and bad debt percentages should be monitored. A written credit and collection policy along with billing options like electronic invoicing can improve cash flow. Collection practices should prioritize strategies based on risk, payment history, cash goals or delinquency reduction. Technology, metrics, policies and prioritizing accounts are presented as ways to optimize the collection process.
This document provides an introduction to enterprise systems, including ERP, SCM, and CRM systems. It defines enterprise systems as software that ensures information sharing across business functions and management levels. ERP systems integrate business units and processes. An SCM system supports procurement, production, and delivery. A CRM system integrates customer-facing processes like sales, marketing, and support. The document discusses the purpose, components, benefits, and challenges of implementing these enterprise systems.
Business Processes - Improvement - Reengineering - AnalyticsLaurence Gartner
This document discusses several case studies of business process improvement projects undertaken by Strategic Process (Re) Engineering Pty Ltd. The summaries are:
1. An invoice processing backlog of 10,000 invoices comprising over 140,000 items was cleared in under a week using an automated solution, saving 35-55 days of developer time compared to traditional IT development.
2. A process to automatically check invoices for rejection reasons and facilitate faster payment was built in under a week, saving 30-40 days of developer time compared to traditional development.
3. A process to identify integrity issues in an electronic invoice imaging system and advise corrections was automated, saving weeks of development time and reducing manual work by team members.
The document presents an overview and details of the order-to-cash cycle. It discusses the flow chart and process, organizational and IT perspectives, and advantages. Key aspects of the cycle include order management, collections, cash applications, general ledger posting and reporting. The cycle aims to convert orders to cash while fulfilling customer needs and allowing easy tracking of errors. IT can implement each sub-set for maintenance, improvements, and consistency. Advantages include less working capital tied up in receivables, lower costs, faster cash flow, quicker issue resolution and higher customer satisfaction.
This document contains summaries of multiple case studies where Happiest Minds implemented NetSuite solutions for various clients. The case studies describe how NetSuite helped provide scalable and integrated ERP, inventory management, order management, and financial reporting capabilities. NetSuite consolidated operations across subsidiaries and locations. Middleware like MuleSoft was used to integrate NetSuite with other systems. The implementations streamlined processes, provided real-time visibility and control, and improved compliance.
[Whitepaper] Aberdeen Research Report: AP Invoice Management in a Networked E...Anybill
The Aberdeen Group just released their newest research report, "AP Invoice Management in a Networked Economy." The report discovered how Best-in-Class companies are leading the way toward improving both the internal and external facets of their financial operations.
Enterprise Resource Planning (ERP) solution isn’t a new concept anymore. It’s a reality, its advancing way beyond imaginations. ERP is here to stay long, by offering improved process automation and enhanced security features. More and more companies of all sizes are turning to implementations of intelligent ERPs with latest
Case 4. 2 Summit electric lights up with a new erp systemniz73
- Summit Electric Supply Co. is a wholesale distributor of electrical equipment and supplies. It obtains goods from manufacturers and sells to contractors. As the middleman, it must handle high transaction volumes and swift inventory turnover.
- Summit's old information systems from the 1980s could no longer keep up with its growth. The systems had limited capabilities and caused delays.
- Summit implemented a new ERP system using SAP to improve operational efficiency. The system allowed for more frequent inventory updates and better inventory management at job sites. It also enhanced business intelligence and chargeback processing.
The Order to Cash Manager is a visually oriented tool designed to manage sales documents from order entry through billing. The tool is capable of displaying the entire order to cash status of both open and completed sales document items on a single screen using multiple windows. The extensive use of icons and colors provides easy identification of key attributes of sales, delivery and billing items. The OTC Manager is a feature filled, online tool that can replace most custom and many standard SAP order related reports.
Business process automation: The past, present and futureQorus Software
With current economic challenges and technology’s exponential growth shaping the way companies operate, automation has an integral role to play in many business processes. When utilized strategically, Business Process Automation (BPA) is a powerful tool for increasing productivity while reducing the amount of resources that are required to complete routine tasks.
By taking over repetitive (and often mind-numbing) tasks and processes, BPA can also play a key role in boosting staff engagement and satisfaction. This in turn increases talent retention and saves the costs associated with hiring and training new employees. With the mundane assignments taken care of by technology, employees have more time to focus on projects that require their unique human capabilities – such as creative thought, strategic decision-making or knowledge-based analysis.
That said, BPA goes beyond just handling routine tasks such as data manipulation or information management. It also covers the automation of complex business processes through the use of advanced technologies.
For more about how document automation should form part of your business strategy visit our website: https://www.qorusdocs.com/document-generation
5 Key Metrics that will Empower Your AP Organization
Document
The most vulnerable area of accounting in any company is the outflow of cash resources – the accounts payable function. Learn which KPIs you need to measure and how to improve them.
AP Automation makes them easy to track.
An information system is designed by an organization to collect, manipulate, and disseminate data or information on a program. It includes hardware, software, communications systems, and data to allow managers to plan, monitor, and evaluate operations and performance. An information system is designed and used for administrative purposes such as supporting business operations, managerial decision making, and strategic competitive advantage. It consists of subsystems like information technology and the organization, and supersystems like the business environment.
To meet all the businesses challenges in today’s competitive era, implementing a cloud-based ERP is very important. SMEs have also started adopting this technical advancement to stay in the long run. Want to know how then check this out-
E Procurement Space Maturity Assessment Srm+ Verscottcwalls
The document discusses the evolution of eProcurement models from EDI to internet portals to direct connects to third party solutions. It provides overviews and assessments of the functionality, pros/cons, and maturity of the EDI, internet, and direct connect models. The EDI model established secure transactions but offered limited functionality. Internet portals allowed supplier integration but required rekeying data and had limited availability. Direct connects enabled buyer-supplier connections but with high costs and complexity.
This document summarizes NetSuite software for wholesale distributors. It provides an integrated application to manage the entire distribution business from sales to operations to accounting. Key benefits include real-time visibility, reduced IT costs through a cloud-based solution, and increased customer service and satisfaction. It allows customization to meet a company's specific needs while providing built-in functionality for procurement, inventory management, financials, reporting and more.
Whether you are thinking about starting EDI, looking to merge systems or simply need a refresher course, this webinar is for you. EDI can be efficient and painless if you plan well in advance.
This document introduces eProcBay® Online, a subscription-based service for automating and managing manufacturing operations for Indian SMEs. It provides key features such as menu-driven transactions, unlimited users, remote training and support, and integration with existing systems. A case study describes how a manufacturer improved operations by reducing manual interventions and management time. The service configures workflows, tracks production stages and materials, generates reports, and provides real-time visibility across the organization. It aims to enhance efficiency, reduce costs, and create an information repository for improved decision making.
CPQ - Configure, Price and Quoting ExcellenceBearingPoint
Realizing all potentials of the CPQ Excellence will lead to
reduced process complexity with direct impact on time,
cost and risk. Main key performance indicators will be
both higher win rates of your offers, as well as lower
quotation throughput times. CPQ Excellence takes
advantage of potentials in a systematic configuration,
pricing, and quotation process in a complex
business environment.
This document outlines best practices for PeopleSoft procurement. It discusses leveraging integration across procurement to reduce costs, improve controls and visibility. It provides tips on compliance, streamlining processing, extending automation to suppliers, and gaining business insights. Specific topics covered include procurement and supplier contracts, purchase orders, recurring vouchers, procurement cards, and eProcurement approvals. The overall aim is to provide guidance on optimizing procurement processes through PeopleSoft to increase strategic focus and return on investment.
Best practices-b2 b-collection-managementJohn Metzger
This document provides best practices for B2B accounts receivable collection strategies. It discusses leveraging technology like a SaaS collection system to automate workflows and prioritize accounts. Key performance indicators like days sales outstanding and bad debt percentages should be monitored. A written credit and collection policy along with billing options like electronic invoicing can improve cash flow. Collection practices should prioritize strategies based on risk, payment history, cash goals or delinquency reduction. Technology, metrics, policies and prioritizing accounts are presented as ways to optimize the collection process.
This document provides an introduction to enterprise systems, including ERP, SCM, and CRM systems. It defines enterprise systems as software that ensures information sharing across business functions and management levels. ERP systems integrate business units and processes. An SCM system supports procurement, production, and delivery. A CRM system integrates customer-facing processes like sales, marketing, and support. The document discusses the purpose, components, benefits, and challenges of implementing these enterprise systems.
Business Processes - Improvement - Reengineering - AnalyticsLaurence Gartner
This document discusses several case studies of business process improvement projects undertaken by Strategic Process (Re) Engineering Pty Ltd. The summaries are:
1. An invoice processing backlog of 10,000 invoices comprising over 140,000 items was cleared in under a week using an automated solution, saving 35-55 days of developer time compared to traditional IT development.
2. A process to automatically check invoices for rejection reasons and facilitate faster payment was built in under a week, saving 30-40 days of developer time compared to traditional development.
3. A process to identify integrity issues in an electronic invoice imaging system and advise corrections was automated, saving weeks of development time and reducing manual work by team members.
The document presents an overview and details of the order-to-cash cycle. It discusses the flow chart and process, organizational and IT perspectives, and advantages. Key aspects of the cycle include order management, collections, cash applications, general ledger posting and reporting. The cycle aims to convert orders to cash while fulfilling customer needs and allowing easy tracking of errors. IT can implement each sub-set for maintenance, improvements, and consistency. Advantages include less working capital tied up in receivables, lower costs, faster cash flow, quicker issue resolution and higher customer satisfaction.
This document contains summaries of multiple case studies where Happiest Minds implemented NetSuite solutions for various clients. The case studies describe how NetSuite helped provide scalable and integrated ERP, inventory management, order management, and financial reporting capabilities. NetSuite consolidated operations across subsidiaries and locations. Middleware like MuleSoft was used to integrate NetSuite with other systems. The implementations streamlined processes, provided real-time visibility and control, and improved compliance.
[Whitepaper] Aberdeen Research Report: AP Invoice Management in a Networked E...Anybill
The Aberdeen Group just released their newest research report, "AP Invoice Management in a Networked Economy." The report discovered how Best-in-Class companies are leading the way toward improving both the internal and external facets of their financial operations.
Enterprise Resource Planning (ERP) solution isn’t a new concept anymore. It’s a reality, its advancing way beyond imaginations. ERP is here to stay long, by offering improved process automation and enhanced security features. More and more companies of all sizes are turning to implementations of intelligent ERPs with latest
Case 4. 2 Summit electric lights up with a new erp systemniz73
- Summit Electric Supply Co. is a wholesale distributor of electrical equipment and supplies. It obtains goods from manufacturers and sells to contractors. As the middleman, it must handle high transaction volumes and swift inventory turnover.
- Summit's old information systems from the 1980s could no longer keep up with its growth. The systems had limited capabilities and caused delays.
- Summit implemented a new ERP system using SAP to improve operational efficiency. The system allowed for more frequent inventory updates and better inventory management at job sites. It also enhanced business intelligence and chargeback processing.
The Order to Cash Manager is a visually oriented tool designed to manage sales documents from order entry through billing. The tool is capable of displaying the entire order to cash status of both open and completed sales document items on a single screen using multiple windows. The extensive use of icons and colors provides easy identification of key attributes of sales, delivery and billing items. The OTC Manager is a feature filled, online tool that can replace most custom and many standard SAP order related reports.
Business process automation: The past, present and futureQorus Software
With current economic challenges and technology’s exponential growth shaping the way companies operate, automation has an integral role to play in many business processes. When utilized strategically, Business Process Automation (BPA) is a powerful tool for increasing productivity while reducing the amount of resources that are required to complete routine tasks.
By taking over repetitive (and often mind-numbing) tasks and processes, BPA can also play a key role in boosting staff engagement and satisfaction. This in turn increases talent retention and saves the costs associated with hiring and training new employees. With the mundane assignments taken care of by technology, employees have more time to focus on projects that require their unique human capabilities – such as creative thought, strategic decision-making or knowledge-based analysis.
That said, BPA goes beyond just handling routine tasks such as data manipulation or information management. It also covers the automation of complex business processes through the use of advanced technologies.
For more about how document automation should form part of your business strategy visit our website: https://www.qorusdocs.com/document-generation
5 Key Metrics that will Empower Your AP Organization
Document
The most vulnerable area of accounting in any company is the outflow of cash resources – the accounts payable function. Learn which KPIs you need to measure and how to improve them.
AP Automation makes them easy to track.
An information system is designed by an organization to collect, manipulate, and disseminate data or information on a program. It includes hardware, software, communications systems, and data to allow managers to plan, monitor, and evaluate operations and performance. An information system is designed and used for administrative purposes such as supporting business operations, managerial decision making, and strategic competitive advantage. It consists of subsystems like information technology and the organization, and supersystems like the business environment.
To meet all the businesses challenges in today’s competitive era, implementing a cloud-based ERP is very important. SMEs have also started adopting this technical advancement to stay in the long run. Want to know how then check this out-
E Procurement Space Maturity Assessment Srm+ Verscottcwalls
The document discusses the evolution of eProcurement models from EDI to internet portals to direct connects to third party solutions. It provides overviews and assessments of the functionality, pros/cons, and maturity of the EDI, internet, and direct connect models. The EDI model established secure transactions but offered limited functionality. Internet portals allowed supplier integration but required rekeying data and had limited availability. Direct connects enabled buyer-supplier connections but with high costs and complexity.
This document summarizes NetSuite software for wholesale distributors. It provides an integrated application to manage the entire distribution business from sales to operations to accounting. Key benefits include real-time visibility, reduced IT costs through a cloud-based solution, and increased customer service and satisfaction. It allows customization to meet a company's specific needs while providing built-in functionality for procurement, inventory management, financials, reporting and more.
Whether you are thinking about starting EDI, looking to merge systems or simply need a refresher course, this webinar is for you. EDI can be efficient and painless if you plan well in advance.
This document introduces eProcBay® Online, a subscription-based service for automating and managing manufacturing operations for Indian SMEs. It provides key features such as menu-driven transactions, unlimited users, remote training and support, and integration with existing systems. A case study describes how a manufacturer improved operations by reducing manual interventions and management time. The service configures workflows, tracks production stages and materials, generates reports, and provides real-time visibility across the organization. It aims to enhance efficiency, reduce costs, and create an information repository for improved decision making.
CPQ - Configure, Price and Quoting ExcellenceBearingPoint
Realizing all potentials of the CPQ Excellence will lead to
reduced process complexity with direct impact on time,
cost and risk. Main key performance indicators will be
both higher win rates of your offers, as well as lower
quotation throughput times. CPQ Excellence takes
advantage of potentials in a systematic configuration,
pricing, and quotation process in a complex
business environment.
The document provides information about several different animal species, including their names, diets, sizes, and habitats. The orangutan's diet consists of fruits, nuts, leaves and insects and they live 40 to 50 feet above the ground. Chimpanzees weigh between 99 to 176 pounds and eat insects and ants. Bengal tigers can grow to 575 pounds and eat monkeys and other animals. Gorillas live in the forests and mountains of Central Africa, with males weighing 350 to 400 pounds and females 175 to 200 pounds. Red-eyed tree frogs have a carnivorous diet of insects and smaller frogs and are found near water sources like ponds, streams and rivers.
This document provides instructions for assembling a skateboard. It lists the necessary parts which include a deck, trucks, wheels, bearings, grip tape, hardware, and tools. The instructions explain how to apply the grip tape to the deck, install the trucks onto the deck with risers and bolts, insert bearings into the wheels, and attach the wheels to the trucks using nuts. Tightening the nuts securely attaches the wheels but should allow them to still spin freely. Adjusting the tightness of the kingpin nut controls how loose or tight the trucks are.
Nigeria is located in West Africa with an area of 923,768 sq km and a population of 148 million in 2008. Its capital is Abuja and it has over 250 ethnic groups, with Islam and Christianity being the major religions. Nigeria has a growing economy based on oil and natural gas exports as well as agriculture. However, most Nigerians still live in poverty with single room housing and using materials like earth, wood or mud for walls and floors. Nigeria exports petroleum and agricultural commodities while importing machinery, fuels, and manufactured goods.
Count On Us For Your P2P Automation Strategy - Techwave.pdfAnil
The critical imperative of re-thinking your existing Process-To-Pay (P2P) process is to move away from the siloed business functions. Many facets of the conventional Procure-to-Pay cycle is plagued with bottlenecks such as complex workflows, manual operations, and delays. The strategic shift to the next phase of transformation will help organizations identify inefficient spend practices and predict the payment life-cycle.
The Accounts Payable (AP) process is critical for managing payments to suppliers and vendors and is equally prone to drawbacks due to manual intervention. From creating purchase orders (PO) to generating goods receipt notes (GRN) and matching them, the AP process involves crucial steps. Managing all this manually is bound to become cumbersome, given the involvement of multiple stakeholders and departments in handling invoices in different formats—leading to complexities and challenges in the process. To address these issues and enhance efficiency, accuracy, and vendor relations, enterprises are adopting Cognitive Process Automation to automate their Accounts Payable. This strategic move involves implementing AP automation solutions to streamline workflows, automate manual tasks, and gain valuable data insights, enabling data-driven decision-making and fostering business growth in the rapidly evolving finance landscape.
It’s no secret that Accounts Payable is one of the main areas of opportunity for automation and optimization within a finance department.
In this video recap of the webinar held on 2/26/ 2019; Auxis’ RPA Consulting Director Eduardo Diquez together with The CFO Leadership Council, UiPath & Ephesoft discussed a perspective on what it really takes to optimize the end-to-end AP function, its key benefits, key technology solutions in the market, and more.
What was covered:
- What does Modern Finance really mean?
- Digitization as a Key Element of the Modern Finance Organization
- Most Common Tools you should be implementing as part of your Digital Finance journey
- What’s driving RPA’s growth?
- Implementation Strategies & Alternatives
- How Outsourcing can help finance executives self-fund their Digital Finance Strategy and drive faster outcomes
Ariba Knowledge Nuggets - Invoice Automation Part 2SAP Ariba
The document discusses the benefits of automating invoice processing through e-invoicing compared to manual paper-based processes. It provides examples of companies that were able to reduce invoice processing times from 23 days to 5 days on average, increase early payment discounts captured from 40% to nearly 90%, and improve days payable outstanding while speeding payment timing by over 20%. E-invoicing allows companies to better leverage working capital through early payment discounts, validate invoices more accurately, minimize exceptions, and free up accounts payable staff time to focus on more strategic activities.
Optimizing Accounts Payable - Whitepaper by BancTec - BPO Services ProviderJone Smith
BancTec is a leading bpo services provider which provides fully hosted invoice processing and AP Automation services including mailroom processing, scan and capture and receipt of electronic invoices.
Optimizing Accounts Payable Automation Solution - Whitepaper by BancTec - BPO...Jone Smith
BancTec is a leading bpo services provider which provides fully hosted invoice processing and AP Automation solutions including mailroom processing, scan and capture and receipt of electronic invoices.
Watch the recording of this session and learn how to structure a winning AP automation strategy from beginning to end. We will show demos of Intelligent Data Capture and RPA in action for invoice processing.
Client Onboarding: Effectively Managing the Client LifecycleDoxim Inc.
The document discusses choosing an automated client onboarding solution. It recommends buying rather than building a solution, as building in-house often costs more than expected. When choosing a solution, firms should consider whether it will be SaaS-based or on-site, how to integrate it with back-office systems, and whether it allows for configuration and incremental growth. Mobile and e-signature capabilities are also important to meet client needs and drive efficiencies. Automating high-volume account types first provides the best return on investment.
The document discusses implementing SAP Invoice Management to improve a company's purchase-to-pay process. It provides an overview of key features of SAP Invoice Management including 7 workflow types and 29 template variants. The document also discusses selecting an optimal optical character recognition system and highlights factors to consider such as full-text recognition, learning capabilities, and pricing models. Implementation best practices are covered such as developing a business case, customizing SAP Invoice Management, and leveraging project organization tools to generate business intelligence from invoice data and realize benefits like reduced processing costs.
A Webinar presented by Image Processing Systems and PayStream Advisors on challenges, opportunities and success factors in automating the approval of accounts payable, substituting digital workflow for manual, paper-based processes.
Are Shared Services Ready for Digital TransformationITESOFT
With the new White Paper from SSL, ITESOFT are taking a look at how prepared Shared Service centers are for Digital Transformation, and what they can do.
How Ventura County GSA Document Services is evolving from a traditional in-plant based on large print volume to one focused on BPM and document management services, to deliver content across both physical and electronic channels.
Applying Robotic Process Automation in Banking: Innovations in Finance and Riskaccenture
Robotics is quickly gaining traction in banks to automate their everyday finance and risk processes. Accenture's presentation covers the impact of Robotic Process Automation (RPA) on a bank's finance and risk function. Read Philippe Guyonnet’s blog to learn more about RPA in banking and finance and risk innovation:http://bit.ly/2dprACR
1. The document discusses how information technology has impacted and improved the accounting function. IT has automated accounting processes, shortened lead times for financial reporting, and improved efficiency and accuracy.
2. It compares manual and computerized accounting systems. Computerized systems allow for greater organization and compartmentalization of work while treating information similarly to manual systems.
3. The document outlines several ways that IT has positively influenced accounting, including increased functionality, competitive advantage, economic efficiency, improved accuracy, faster processing, better external reporting, security, and flexibility. It also discusses the role of software tools like accounting, tax, word processing, and audit software.
Webinar: 5 steps to successful invoice automationOpusCapita
Value drivers for any best-in-class AP department are tied to basics like a solid procurement policy, high quality invoice data, master data management and automation. But these are just labels which is why we want to dig deeper and examine what specifically is required for any of these elements to deliver value to your organization.
RPA - Business Continuity & Automation Success StoriesTangentia
In this slide, we have talked about our 4P delivery model that is People, Projects, Platforms & Partners. Also, we have explained how we can automate manual processes effectively using RPA and Digital Workforce.
Tangentia's automation success stories will give you an idea of how we can effectively automate your business processes and the good impact it will have on your business.
Get in touch with us - https://www.tangentia.com/contact-us/
The document discusses the challenges of invoicing for enterprises and how Invoicera can help overcome them. Some common challenges include lack of visibility into invoices and payments, long approval times, limited functionality of traditional ERP systems, and lack of customization. Invoicera is a cloud-based invoicing application that allows users to maintain suppliers and vendors on a single dashboard, integrate with 25 payment gateways, and customize workflows to improve productivity. It offers solutions like integrating with third-party tools, invoicing for multiple business units, improving finances with reports, and ensuring data security.
Document Management Options for Abila MIPNet at Work
The webinar provided an overview of document management options for Abila MIP Fund Accounting, including the Microix add-on modules. Microix enhances MIP with a purchase request, purchase order, and invoice approval workflow, and can establish budget encumbrances. The webinar covered evaluating options, implementing a new system, and testing with end users. Questions were invited at the end.
This document discusses accounts payable automation solutions from Canon and SmartERP. It highlights the benefits of automating AP processes such as reduced errors, improved control and transparency, and increased resource utilization. The solution involves scanning or receiving invoices, extracting data, verifying information, and routing invoices through an approval workflow. Public Electric Power Transmission Company is presented as a customer case study that sought to replace multiple technologies with a single automated AP solution for improved efficiency.
Accounts Payable (AP) has proven to be extremely effective in a shared services model but efficiencies are largely dependent on upstream supply chain processes. When leading shared services operations look for performance improvements or cost reductions in AP, they are forced to evaluate the entire P2P process to identify savings opportunities.
“How P2P Fits Within an Enterprise Supply Chain” is the second topic of a supply chain learning series presented by ScottMadden and Shared Services & Outsourcing Network (SSON). In this session, we focus on the key attributes of a successful P2P transformation and the role technology plays in enabling the capture of the synergies and savings associated with P2P in a shared services delivery model.
For more in this series, please visit www.scottmadden.com.
1.
Why a Critical Look at AP Processes Makes
AP and Dynamics ERP Technology Work
Aligning Processes with Technology Enables Efficiency and
Empowers Decision Making
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4. • Intelligent use of reliable data – Invoices and supporting documentation should be inputted, transmitted
and shared within the AP department and across the enterprise so that the intelligence, accuracy and
integrity of data is preserved and used to support decision making.
• Talent management – The accounting department’s best employees should be matched with the right
responsibilities.
Compounding these challenges is the paper problem. Quite simply, information stored on massive quantities of
paper can’t be shared, understood or acted upon efficiently, and it is this reality that stifles a would‐be efficient
P2P process. Not knowing where invoices and purchase orders are located, when they are due, and how much
they are worth perpetuates accounting as a “black hole” of inefficiency.
Getting back on track means understanding the role accounting best practices can play in ensuring core challenges
are addressed – even in advance of document management and workflow technology. It also means demanding
more from your data, promoting efficiency and accuracy with trusted data centers – made possible by ERP
solutions that are integrated with AP technology – that can be accessed used with confidence by the right people
at the right time to extract the right results.
Evaluating the Impact of Paper and Process on P2P
Determining if the accounting department is emphasizing efficiency, cost savings, and transparency, promoting
effective talent management and driving real business value requires a critical look at the organization’s
contributors to an efficient P2P process. They include:
• Invoice processing time – Take the accounting department’s processing pulse by tracking the progression
of a single invoice as it winds its way through the department. How are invoices received and processed –
in paper‐based or electronic format? How long does the process take? At what points does the process
encounter bottlenecks? How might the accuracy and integrity of data be impacted or otherwise affected
along the way?
• Invoice processing priority – Find out if the organization misses early‐payment incentives – or, worse,
gets saddled with late‐payment fees. Is there a discernible priority when it comes to processing invoices,
or is it simply the luck of the draw?
• Invoice processing costs – Beyond potential overtime for accounting staff, determine how much the
organization spends on postage, courier services and related elements to process an invoice.
• Vendor involvement – Compare the number of calls placed to and from suppliers and customers to the
number of transactions actually processed. Multiple calls per invoice mean barriers to efficiency.
• Vendor efficiency – How efficiently are vendors generating invoices, fulfilling orders and ensuring timely
shipments? Repeated breakdowns in the process present roadblocks to efficiency – especially when they
increase costs.
Enabling Intelligent Process Automation in Accounting
Migrating from a paper‐based process to a computerized one is only part of the accounting solution. True
automation results when accounting systems deliver built‐in intelligence across the customer and supplier
landscape so that, after the very first time information is entered at any point, the data will never have to be
rekeyed. Instead, it will appear automatically as work and data flow. When new information is needed, it will
simply be added to the process.
2 Metafile Information Systems, Inc.
5. CASE STUDY SIDEBAR: CENTRAL MAINTENANCE AND WELDING
About Central Maintenance and Welding
• Central Maintenance and Welding, Inc. (CMW) was founded in 1966 and is headquartered in Lithia,
Fla.
• CMW’s 375 employees provide customized welding, construction, fabrication and maintenance
services in the plants and facilities of chemical, mining, power generation and other companies in
Florida and internationally.
Situation
• CMW’s P2P process is largely rooted in materials used and time spent in conjunction with customers’
projects.
• Once materials are purchased, the resulting invoices and supporting documentation are provided to
the customer. A CMW invoice is also provided that includes billing for employees’ time on the
project.
• The CMW invoice is designed to bring together all vendor invoices – from time sheets, to equipment
logs, to stock transfers and more – to facilitate prompt payment.
• CMW’s AP and accounts receivable (AR) departments were entirely paper‐based, operating without
standardized procedures. Piles of paper‐based vendor and customer invoices, purchase orders, time
sheets, and supporting documentation prevented CMW from providing and receiving accurate
payments from suppliers and customers for services rendered.
Results
• Seamless integration with the Microsoft Dynamics GP solution. Metafile facilitated data sharing,
indexing and search between its MetaViewer AP and AR document management solution and CMW’s
Microsoft Dynamics system.
• Standardization of AP and AR processes. Metafile experts and the company’s MetaViewer solution
successfully transitioned CMW’s AP and AR functions from 100 percent paper‐based to 100 percent
paperless, laying the foundation for immediate and measurable return on investment.
• Empowering future decision making. As CMW continues to expand and grow, the MetaViewer
solution will offer the organization’s leaders a living, active repository of information they can use to
promote confidence in future financial decision making.
Invoice capture, document management and workflow automation technology is available to help organizations
introduce visibility into accounting processes and identify and resolve paper‐ and process‐based breakdowns. By
tracking the flow of an invoice within, outside and among P2P stakeholders, accounting leaders can identify and
correct process breakdowns. They can also take steps to ensure the right talent is positioned in the right
accounting roles to ensure efficiency. Technology also can help organizations easily identify the number and
prioritization of invoices awaiting action.
These and other elements create the level of process visibility that accounting department leaders and C‐level
executives need to empower their own decision‐making. Prioritizing integration with the organization’s ERP
Metafile Information Systems, Inc. 3
6. solution will enable the a
accounting fun nction to help u
upper managem ment extract mmaximum return from the
organizatioon’s ERP investtment.
For examp ple, technologyy can help organizations accoomplish data sh haring, indexing and searchinng between theeir
document management solutions and their respectiv ve ERP systems s. Indexed data
a and supporting documents can
then be shared, so that ssearches in thee ERP system wwill retrieve invoices stored in
n the documen nt management
That means use
solution. T ers key in information only onnce, whether u using the document managem ment solution or
ERP. Userss also can accomplish two‐ an nd three‐way innvoice matchin ng and retrieve
e supporting in
nformation acrross
disparate ssources with ju
ust a few mous se clicks.
Intelligent AP/ERP technology automat tion is happeni
ing now – and it is a distinct a
area of opport
tunity for accou
unting
leaders in numerous induustries nationw
wide.
The Cross‐Industry Oppo
ortunity for Int
telligent AP/ER
RP Technology
y Automation
How does your organizatio currently mana your AP proc
on age cess?
Resp
ponse Resp
ponse
Answer Op
ptions
Per
rcent Coount
Entirely pa
aper-based 14.6% 35
3
Blend of pa
aper-based activ and AP functi
vity ionality in Micros Dynamics
soft 59.2% 14
42
Entirely AP functionality in Microsoft Dynam
P mics 16.7% 40
4
Paperless solution offered by an AP docum
ment managemen technology pro
nt ovider 6.7% 16
1
We don't 2.9% 7
MSDynamicsWorld recen ntly conducted d a survey amoong 240 Micros soft Dynamics uusers to determ
mine the extennt to
which resppondents in a v
variety of indus
stries may or mmay not be leveeraging techno
ology – either A
AP, ERP or both – to
manage ac ccounting docuuments and wo orkflow. The suurvey found that close to 67 percent of resp
pondents take
between o one and five da
ays to process iinvoices using a blend of pap
per‐based activ
vity and AP doccument
manageme ent technology
y. Despite the p
presence and u use of technoloogy among theese respondent ts, processing
invoices in a timely mann
ner remains a c challenge facin
ng the AP profe
ession among more than 40 percent of
responden nts.
In additionn, while relative
ely few
responden nts are employing
AP/ERP tec chnology integ gration in
its entirety
y, integration is
s the
priority ide
entified as mos st likely to
improve th he Microsoft Dynamics
experience e. Integration is also
identified bby nearly half (
(43.3
percent) of the sample as a
priority over the next one to two
years.
4 Metafile Info
ormation System
ms, Inc.