Introduction to Invoice Processing Maximize Visibility & Control February 28, 2013 1.
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Transcript of Introduction to Invoice Processing Maximize Visibility & Control February 28, 2013 1.
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Introduction to Invoice ProcessingMaximize Visibility & Control
February 28, 2013
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Agenda
• Introduction to Invoice Processing Automation– Review three key roles in every project– Each roles different interest in invoice
automation– Key invoice automation software– How to develop an automation strategy that is
right for you– Close / Questions
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Why invoice automation?
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CFO wonders:•$16.67 vs. $3.34•4x longer approve invoices•Capture 18% vs. 90% discounts•Struggle with Audit & Archive
AP manager wonders:•Cut supplier calls•Get faster approvals•Identify disputed invoices•Supplier based accruals
AP clerk wonders:•Double my production?•Allocate invoices to multiple cost centers•Seen our last telecom bill•Ever tried to do a 3 way match around here
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Lack of Visibility into Pending Invoices
Locations Suppliers
Invoices Approved In the Field
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Paper-Based P2P Workflow
Enterprise Procure-to-Pay Process
Sourcing Procurement Invoice-payment
Order delivery(PO, ASN) Send invoice
Transmit payment
Resolve exception
s
Process and
approve invoice
Receive and route
invoice
1-3 days 4-7 days 10-50 days 2-10 days 4-7 days 10-50 days
30-127-day cycle
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Invoice Processing
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Forrester Research, 2010
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Goals
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Goals•Gain invoice visibility •Reduce data entry costs•Speed approvals•Increase coding accuracy•Enhance reporting & audit•Manage cash more effectively
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Basic strategy
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• eInvoicing• Mail room• Scanning • OCR• Automated Workflow• Supplier Portal• Supplier Network
ERP
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Invoice Data Capture
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Key from Image / Paper
EDI / CXMLScan & OCR
Supplier Portal
Supplier Network
Email / PDF Mailroom Services
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Determining Capture strategies
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Invoice Volume
Total Spend
Suppliers
Invoices
Supplier Network
EDI / CXML
Supplier Portal
Scan & OCR
Key from Image Email / PDF
Key from Image / Paper
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Next Question
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Send Invoice
Email/Fax
EDI/XML
Vendor Portal &Supplier Network
Scan Paper
OCR
Quite often you requirethe ability to accommodatemultiple methods of invoice
receipt….
Quite often you requirethe ability to accommodatemultiple methods of invoice
receipt….
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Receive & Route
Inbound invoices generatea processing workflow with
highly configurable capabilities!
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Process & Approve
Items to approve show up in user’s
queue for easy processing and approvals!
Also capable through email &portable devices.
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Transmit Payment
Invoice payment informationis passed seamlessly
to ERP platform and relatedpayment information is
returned to archive withinvoice data.
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Reporting Capability/Monthly Accruals
Robust and customizable reportingcapabilities gain tremendous
visibility to your AP invoice paymentprocess.
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Better Managing AP Productivity
AP department “health checks”and workload balancing capabilities
are available throughout the solution!
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Supplier Networks & Portals
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Next Question
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Supplier Portal & Networks
Advanced Integration Framework
Private-Hosted Deployment
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Supplier Behavior
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Data Capture
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Clear Visibility
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Distributing Invoices to Cost Centers
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Spreadsheet Invoices
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Speed Approvals
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Research
Receiving/Financial Discrepancies
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IA Reporting
• Reporting – activity• Process – thru put• Exception management• Discount capture• List that Kevin gave me
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Understanding
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CFO wonders:$16.67 vs. $3.344x longer approve invoicesCapture 18% vs. 90% discountsStruggle with Audit & Archive
AP manager wonders:Cut supplier callsGet faster approvalsIdentify disputed invoicesSupplier based accruals
AP clerk wonders:Double my production?Allocate invoices to multiple cost centersSeen our last telecom billEver tried to do a 3 way match around here
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Easy to Use - Broad & Deep Product Suite
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Verian Suite
Verian PlatformWorkflow, Business Rules and
Policy Enforcement
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Ease of Implementation
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Key from Image / Paper
EDI / CXMLScan & OCR
Supplier Portal
Supplier Network
Email / PDF
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The 90 plus Difference
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Office Supplier & Materials
FacilitiesIT & Telecom Capital Expenditures Marketing
Kick-off