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OL-Presentation-AP-EN
- 1. SMARTER ACCOUNTS PAYABLES Reduce invoicing costs by eliminating scanning and manual handling of paper
- 2. • Introducing Objectif Lune • Existing situation • Introducing the OL approach to Smarter AP • Use Case Video • Demo AGENDA
- 3. OBJECTIF LUNE • #1 worldwide for install base and annual new customers • Proven technology with 20 years of experience CANADA USA UK SCANDINAVIA THE NETHERLANDS FRANCE ITALY GERMANY MIDDLE EAST CHINA JAPAN SOUTHEAST ASIA SOUTH AFRICA AUSTRALIA BRAZIL
- 4. • Software with the largest installed based in our industry (avoid the early-adopter risk) • Enterprise-level technology tailored to mid-sized companies • Fast implementation at well below the average cost • Global company with offices around the world providing local support and maintenance • Easy to use, puts you in control of your processes and documents OBJECTIF LUNE
- 5. Order Process - Sales Order Automation - Mobile Proof of Delivery PROCURE-TO-PAY CYCLE ORDER-TO-CASH CYCLE Accounts Payable - Invoice Processing Accounts Receivable - Invoice Automation - Outbound Mail Optimization - Delivery Preference - EDI Compliance Purchasing - EDI Compliance SUPPLY CHAIN SUPPLIERS COMPANY CUSTOMERS
- 6. EXISTING SITUATION • Manual paper processes are used • Every invoice is scanned • Data is keyed manually or OCR is used • Electronic invoices are printed for processing
- 7. EXISTING SITUATION per invoice 20 invoices per day 16 days to process Manual AP Processing: • expensive • inefficient • creates compliance issues • can affect credit score $17 Source: Aberdeen
- 8. CUSTOMER REQUIREMENTS • Increase processing speed • Increase accuracy • Reduce costs • Use early pay discounts
- 9. So what are the options?
- 10. PAPER-BASED PROCESSES Even when a supplier sends an invoice by email, it needs to be printed to be processed. Challenges • Invoices get misfiled, lost or damaged • Invoices need to be physically matched with the PO and POD, a time-consuming manual process that results in payment delays • Errors create overpayment • Vendor relationships strained
- 11. SCANNING FOR ECM Using scanners and ECM systems helps accelerate processing, but still relies on manual processes. Challenges • Manual indexing is error-prone. • Using OCR creates indexing errors • Production scanning is expensive • Advanced capture is complex and expensive • Three-way match is manual and time-consuming. • It is still a fairly manual process that can never be 100% accurate
- 12. Challenges • EDI cannot be used 100% of the time • Some suppliers cannot send anything but paper or email • Even when using EDI, companies end up having to process paper manually EDI Even when a company transacts using EDI, it never completely eliminates paper. COMPANY SUPPLIER 1 SUPPLIER 2
- 13. INTRODUCING THE OL APPROACH TO SMARTER AP We propose a solution using a technology blend
- 14. Invoice is matched with POD Data manually keyed in or OCR used Invoice arrives Scanned Archived Payment is released Current process
- 15. Payment is released Automate matching Communicate We capture invoices BEFORE they are printed, without scanning or OCR. PDF to EDI Extract data Publish to ECM Workflow when required Capture Now with OL solutions
- 16. KEY CAPABILITIES • Captures invoices before they are printed. • Manually handling only needed with exceptions. • Adapts to your systems and processes. NO Change
- 17. VIDEO
- 18. KEY BENEFITS • Speeds up purchase-to-pay cycle • Eliminates/reduces scanning and manual processes • Automates your processes • Increases data accuracy • Prevents fraud and scams
- 19. DEMO
- 20. • Software with the largest installed based in our industry • Enterprise-level technology tailored to SMBs • Global company providing local support • Fast implementation without exceeding your budget • Easy to use, puts you in control of your processes and documents KEY DIFFERENTIATORS
- 21. OL is a trademark of Objectif Lune Inc. All registered trademarks displayed are the property of their respective owners. © 2016 Objectif Lune Incorporated. All rights reserved. www.objectiflune.com
Editor's Notes
- Companies transact business by passing documents back and forth. The Procure-to-Pay and Order-to-Cash cycles are all about moving transactional documents. Think about it. Business usually starts with a PO, which initiates a sales order, which in turn generates shipping documents, which drive invoices, and those invoices result in cheques. This means there’s a lot of paper going back and forth. Companies are looking for ways to improve these processes, increase staff productivity and improve on accuracy. In this presentation, we are going to focus on the accounts payable process. AP processes are critical for any business because they directly impact cash flow. Issues in AP processes lead to inaccurate data, overspending and exposure to embezzlement, fraud and scams.
- Scanning invoices and manually entering data will never be 100% accurate. Neither is OCR. These inaccuracies are responsible for irretrievable documents, delays in processing, overpayments and late payments.
- It costs on average $17 per invoice to process and pay them. On average, an AP clerk can process 20 invoices a day, and a typical invoice takes 16 day to process.*
- Increase processing speed: By reducing the amount of paper to scan and process, and automating the three-way match, invoices are processed faster and cost less to process. Payments are released earlier, late payments are avoided, and there’s an increase in early payment discounts. Increase accuracy: By automatically entering data in the systems instead of manual keying or OCR, you get 100% accuracy. This in turn ensures that the right amounts are paid and that there are no duplicate payments. Reduce costs: Inaccuracies and human errors result in late or duplicate payments. And they prevent you from benefiting from early payment discounts.
- Delays in processing can cause overpayment. For example, the invoice is still being approved by the manager when the supplier calls to inquire about the payment status. The AP staff member can’t find it and it hasn’t been paid, so the supplier sends another invoice. Meanwhile, the original invoice shows up and gets paid. Then the duplicate invoice arrives and inadvertently gets paid as well.
- Using Scanners for ECM workflow accelerates processing somewhat, but is inaccurate, time-consuming and expensive.
- We believe in a step-by-step approach where we follow the customer requirements in terms of budget, timeframe and scale. Our solution acts as a middleware, sitting next to the company system and capturing its output to use as data to re-engineer customer communications and automate business processes. This approach means that our customers improve their processes without having to make any costly changes to their existing systems or invest in new ones. Our customers are no longer limited by rigid systems and can make changes and improvements as they see fit, with total flexibility. Our solution : Convert PDF to data Automate the three-way match Install a validation server Add an ECM partner product for long tail (paper process) Reduce the volume with automation