accounts payabe killer app for sharepoint
Post on 20-Oct-2014
1.474 views
DESCRIPTION
Accounts Payable departments are making great strides in automating their operations by leveraging Microsoft software already available in your organization. According to IOMA, world-class Accounts Payable departments can process upwards of 80,000 invoices per person per year. This efficiency translates into a cost savings of more than $3 per invoice.TRANSCRIPT
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Accounts Payable - The Killer App for SharePoint
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Invoice Processing
• Average cost to process an invoice around, $12 – Firms with high level of automation (imaging, EDI or
e-invoicing, near paperless processing, etc.) have half the processing costs compared to non-automated firms with a median cost to process an invoice $6 going as low as $3
• Therefore if you process just 1000 per month savings could reach over $70000 per year.
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Benefits of AP Automation
Capture - Scanning– Increased processing speed– Reduced labor – less data entry– Reduced paper handling– Decreased errors, Higher Accuracy– Feeds ERP (Great Plains, SAP, Oracle, Lawson, etc.)
systems
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Benefits of AP Automation
Results of electronic paper– Faster retrieval time Easy access to invoices
(electronic)– On-Time payments– More early payment discounts– Auditable business processes – greater visibility– Support compliance – No more misplaced/lost invoices– Storage costs reduced or eliminated
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Agenda for Today’s Webinar
• Challenges facing Accounts Payable departments• What to look for in a solution • Benefits of automated invoice processing • Invoice capture process• Sample implementation• Why a Information Worker centric solution• Invoice capture demonstration• Product Overview• KnowledgeLake customer case studies
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Challenges and Key Issues for Accounts Departments
– Found in majority of organizations– In fact any organization involved in buying or
selling goods!– Need for process automation increases– 70% of incoming mail is bills – 96% of processing is manual keying of data from
paper
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Things to consider when you review Your Process
– Identify and document existing processes– What errors occur and what improvements can be
made– Remove paper from the process early on, sooner
the better– Store off-site if needed – Control access - secure storage– Have an accurate audit trail - record receipt– Track users productivity
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What to Look for in a Solution • Ease of use• ‘Out of the box‘• No complex learning period• Requires little to no maintenance• No supplier-specific set-up or 'tuning' required• Same level of performance when invoices change or are added • Improve your accounts payable process• Automatically prioritize invoices from suppliers with early-payment
discounts• Route high-value invoices or problem invoices to exception handling -
Workflow• Delivers maximum cost reduction, don’t pay for more than you need.
Take advantage of existing software and hardware investment
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Benefits of Automated Invoice Processing Review
• Improved Data Accuracy– Automation yields better data accuracy– Preventing errors less costly than correcting them– Human errors inevitable– Difficult to catch, expensive to reverse
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Reduce Invoice Processing Delays• Reduce the time delay between receipt of invoice and posting• Leverage early payment discounts• Avoid late payment penalties• Financial information available real-time • Quicker month, quarter and year end close• AP staff are knowledge workers, not data entry clerks• Separating data entry from accounts payable tasks saves money• Accounts payable staff use their expertise in a more productive
manner • Negotiating discounts• Dealing with requests• Reduce Paper Handling
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Invoice Automation Process
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AP Automation Challenges
• No such thing as a typical invoice • Invoices vary in format• Multiple pages• Too many different formats to template
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Classifies the document type
• Invoice• Purchase order• Credit note• Packing Slips
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Data for Extraction
• Date• Purchase Order Number• Invoice Number• Supplier Details• Total• Tax• Grand total• Information is extracted and validated by operators or
through database look-ups• Matched to ERP system
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Backend System Integration
• Best-of-breed solution• Open architecture platform - Compatibility
with back-end systems
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Customer Examples
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“We now receive invoice approvals in hours versus weeks.”
Larry BryantAP SupervisorAmdocs
“The document capture solution from KnowledgeLake and Microsoft SharePoint has allowed Build-A-Bear associates to scan business critical documents from stores around the country and share them in SharePoint.”
Dave FinneganChief Information BearBuild-A-Bear Workshop, Inc.
“With KnowledgeLake and SharePoint, we got rid of faxing and emailing for approvals [and] we increased processing by 40%!”
Lewie WakeCIOAdvantage Sales & Marketing
Client Testimonials
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Why a Microsoft Centric Solution
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ECM Information Input Sources
1. Information Worker (IW) Capture– Ad hoc input: scanning, electronic files– Desktop driven content
2. Production Capture (paper to image)– Converting paper and working with digital images– Centralized and remote capture– High volume – Scan and index done by dedicated staff
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Information Worker (IW) ECM • Who are Information Workers– Senior management,
middle management, staff, clerks from all departments
– Busy people who don’t want new responsibilities unless the investment will make their job easier
• Produce and Handle High Value Content $$$
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Information Worker ECM Challenge
• Ease of Use, they don’t want:– Complicated save and index processes– Searching multiple repositories for related content– Inefficient search process (lack of metadata) – Desktop not tightly integrated with ECM so users
don’t publish content to repository • Low user adoption defeats ECM investment
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Capture Demonstration
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Separator Sheets
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Enter SharePoint
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Capture eDocs
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LOB IntegrationGreat Plains
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AP Just the On Ramp to a Document Management Environment
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Document Imaging Benefits
• Reduce Environmental Impact • Improve Operational Efficiency• Enhance Customer Service• Eliminate Shipping and Faxing • Streamline Document Processing• Enable Regulatory Compliance• Decrease Operating Costs• Decrease Storage Space • Provide Disaster Recovery
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Connect
• Capture E-documents From Desktop, Outlook And Also Drag-n-drop• Accurately Index Documents• Release Into SharePoint Libraries• Complete Process In Just 2-clicks!
Capture
• Scan Paper Documents With Desktop, Departmental And Production Scanners• Index Documents• Release Into SharePoint Libraries
Server
• Capture From Office Copiers, Multi-function Devices, Fax Servers And Network Scanners• Index And Scan Via Web Browser• Automate PDF, OCR Conversion
Imaging
• Database Lookup & Index Automation • Perform Exact Relevance Searches With Any Combination Of Index Values• Central Enterprise Indexing Schema• Zero-footprint Image Viewer
SharePointKnowledgeLake extends the native capabilities of SharePoint to give you the freedom and flexibility to scan, index, store, retrieve and view large volumes of documents in a variety of ways
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What Competitors say about SharePoint….. What about:
– Scalability?– Features?– Blob in the database?– Records management?– Workflow?– Existing ECM investment?– Vertical solutions?– 100GB content databases?– Integration with my LOB system?
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ECM Gaps
Feature+
Function
•Imaging (KnowledgeLake, Fujitsu)•Workflow (Microsoft, KnowledgeLake, Nintex)•RM (MS DoD 5015.2,( OmniRim – Physical Records)•ERM/COLD (Xenos, KnowledgeLake)
Enterprise Ready
•Search (FAST, MS Search Server, KnowledgeLake)•LOBi (MS BDC/Duet, KLake, ERP-Link/SAP, KeyMark – GP,)•Adv. Capture/Classify(ABBYY, KeyMark ,Cutting Edge, KLake)•Security (Active Directory, MS-LDAP, KL Encryption Module)
•Architecture Planning (see Scalability WhitePaper)•Externalize the BLOB (MS RBS, EMC, Hitachi, BlueThread)•Replication/Back-up (AvePoint)•Autofoldering (KnowledgeLake)
Scalability
Remaining Gaps Are
Being Addressed
•Digital Asset Management•Federated Search•DoD 5015.4•Compound Documents
•Vertical Solutions•ECM Deep Expertise/Consulting•Taxonomy Management•Governance Consulting
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Total ECM with SharePoint
• Centralized and remote paper capture• IW capture for electronic and paper content• Metadata driven pinpoint searches• Total ECM w/ SP: scan, index, search, view,
manage• Leverage SharePoint: repository, workflow,
document management, records management, web content management
• Fast user adoption
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KnowledgeLake SharePoint Success
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Financial Services
• New Account Enrollment• Loan Origination• Post Account Processing
Insurance
• Claims Processing• Sales• Underwriting• New Group Enrollment• Broker/Agent Credentialing
Healthcare
• Medical Records• Physician Credentialing• Change Management• Admissions
Public Sector
• Revenue/Tax• Transportation/Public Works• Health and Human Services• Human Resources and Accounting
High Value Documents
KnowledgeLake Customer Processes
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Sample KnowledgeLake Customers…Financial• Scottrade • Bank of America• Axis Capitol• Western Union • Lutheran Church Extension Fund • Cambridge Investment Research• Circle Lending
Healthcare/Insurance• WellPoint • Carle Clinic• Good Shepherd Hospital• BJC Healthcare• AAA Auto Club
Retail/Mfg.• Pella Window• Build-A-Bear• Save-A-Lot• Valero Oil• Delta Gas• Advantage Sales/Marketing
Government/Education• Unified Government• Adams County• State of Illinois• Washington University• Winona State University
Notables. . .Scalability• Scottrade – 20M Documents, 275 Capture Locations
• Accosta – 285 capture locations
• Advantage Sales/Marketing – 5,000 Users
Integration • Amdocs – Oracle Financials
• Valero Oil – SAP
• Build-A-Bear – Lawson
Legacy Migrations• Washington University – Optika/Stellent
• LCMS– FileNet
• Tricor Braun – Documentum
• House Hold Names
• Bank of America
• WellPoint
• Chevron
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Company
Founded in 1999Headquartered in
St. LouisPrivately held by KnowledgeLake executives and
Fujitsu
Marketplace
Document Imaging & Capture for Microsoft
SharePointRegional offices
throughout North America
Partners throughout the world
Experience
Years of experience with legacy ECM
productsFirst mover in
SharePoint ECM since 2003
100’s of successful customers using
SharePoint for ECM
Microsoft
Managed Gold Certified ISV
Member Technology Adoption ProgramMember Partner Advisory Council
Member Developer Advisory Council
About KnowledgeLake…
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ROI with KnowledgeLake
94% of imaging projects pay for themselves in less than 1 year*
• KnowledgeLake drives user adoption
• KnowledgeLake drives Hard Costs Savings– Savings of 43 hours per year per employee (save, index, search 10 docs/day)
• $1,000 per desktop user (SAVINGS POTENTIAL $$$)
– Save $20 in labor to file a document– Save $120 in labor to find a misfiled document– Save $220 in labor to reproduce a lost document
KnowledgeLake helps leverage Microsoft Investment
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Resources
• KnowledgeLake White Papers• Product Demonstrations• Streaming Presentations• Webinars• ROI Calculators and Assessments