Getting a Clearer View of Cash Flow

GAIN A CLEARER VIEWOF CASH FLOW

THE IMPACT OF POOR CASH FLOW VISIBILITY

ACCELERATED

Do you have a clear view of your cash flow ...

AT EVERY STAGE FROM INVOICE RECEIPT TO PAYMENT?

MANUAL, PAPER-HEAVY PROCESSES CAN MEAN YOU’RE BLINDEDBY DETAIL AND ERRORS

AFFECTING YOUR ABILITY TO MAKE CLEAR-SIGHTEDPAYMENT DECISIONS.

WHAT YOU OWE.WHO YOU OWE.WHEN YOU NEED TO PAY.AND, WHEN YOU’RE READY PAY.

The key to more control over cash flow is an up to date view of…

SEE BEYOND

It all starts when you

paper and manual input.

See beyond the blockers that slow down information flow

• Manual processing of paper invoices

• Rekeying data into other systems

• Human error – resulting in payment queries, complaints and the risk of penalties

• Lost invoices and other documents

• Inefficient approvals processes with sign-offs slowed down by multiple sites, mobile teams, multiple languages

• Poor access to supporting documentation.

SEE BEYONDPAPERProcessing paper invoices manually is slow and cumbersome.

76% of accounting departments say that 50% of their invoices are paper1.

1 Solutions for Finance Departments, Canon/RS Consulting, 2011

SEE BEYONDMANUAL INPUTManual input increases the potential for payment errors – and that means a direct impact on your cash-flow.

75% of finance departments manually input invoice line items into their ERP system1.


That’s when your whole organisation can gain a clear view of the payments processing essentials:

• The cash position – so you can decide whether to pay early, or hold off

• Payment deadlines – so you can minimise late payment fines and improve supplier relationships

• Approval bottlenecks – so you can see what slows down the process and makes your life harder

• Easy access to supporting documents – so you can avoid delays in approvals and processing

• Transparent archiving – so you have a searchable audit trail and can be fully compliant.

PROTECT YOUR PROFITSManual invoice processing can mean missed payment deadlines, penalties and lost early payment discounts.

Fraud and duplicated payments are more likely too.

All of which hits profit.

2/3 of suppliers’ invoices take 10 days or more to be processed1.


MAKE THE MOST OF YOUR PEOPLEManual data capture means highly skilled staff waste time on menial tasks.

46% of companies report that their account payable employees spend at least 10 minutes each per day retyping incorrect invoice information into the AP system1.


4% of these spend an hour or more.

BUILD STRONG RELATIONSHIPS Manual systems and paper documentation mean wasted time and mismatched details.

The result: payment queries, disgruntled suppliers, and the risk of late payment fines and interest charges.

1/3 of finance professionals receive more than ten payment queries per day1.


SIMPLIFY COMPLIANCE Paper invoices are insecure.

That can mean breaching compliance, audit failures, and fines.

25% of companies lose at least 5% of their invoices1.


How we see it ...

These are the core elements of our payments automation and management solution.

INVOICE RECEIVED • Multiple locations

• Multiple formats

• Multiple capture devices

DATA CAPTURED• Multiple Languages

• Data captured from invoice

COST ALLOCATED • Check and flag

exceptions automatically

• Automatic cost allocation

• Flag errors for user validation

APPROVAL MATCHED • 3-way matching

• Multiple approver workflow

PAYMENT MADE • Cash flow visibility

• Improved supplier relationships

ARCHIVING ACTIVATED• Digital secure storage

• Searchable audit trail

• Full regulatory compliance

HOW IT LOOKS FOR CUSTOMERS Here are some examples of our payments automation and management solution in action.

ENTREPRENEURIAL CONSTRUCTION FIRMDRAMATICALLY REDUCES BURDEN OF ADMIN

“ It changed the way we work. The incoming invoices are sorted in a way that we couldn’t imagine before.

And I have more time to be out in the field at the project with my employees and customers … Work that would have taken a week or so can now be done in two or three hours.”

JOHAN SELENIUS ROSENGRENCOMPANY DIRECTORSARAB ENTREPENAD AB

FÖLLMI CONSTRUCTION IN SWITZERLAND MANAGES CREDITOR INVOICES MORE EFFICIENTLY WITH CANON’S AUTOMATED SOLUTION

“ By using Canon’s solution, not only did our efficiency increase but the time needed for archiving also decreased. The high degree of transparency, fast information flow and increased flexibility convinced even most critical employees. Canon was able to implement a customised document management system.”

DANIEL FÖLLMIHEAD OF INTERNAL SERVICESFÖLLMI

CLEAR ADVANTAGES

• Less paper

• Fewer manual inputs

• Reduced risks

• Protected profits

• Increased staff productivity

• Better supplier relationships

• Simplified compliance

As you can see, our approach means:

A clear view of what you owe, who you owe, when you need to pay, and when you’re ready to pay ...

... means a few small changes can have a big impact.

SO, TAKE A CLOSER LOOK

© Canon Europa N.V. 2014

If there are any areas of particular interest that you would like to discuss further, or to set up a meeting, call Scott Ofield on 01235 433470 or email [email protected]

BE EXCEPTIONAL and visit canon.co.uk

mailto:scott.ofield%40cuk.canon.co.uk?subject=

canon.co.uk

Getting a Clearer View of Cash Flow

Technology

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