introduction to invoice processing maximize visibility & control february 28, 2013 1

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

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

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

Basic strategy

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• eInvoicing• Mail room• Scanning • OCR• Automated Workflow• Supplier Portal• Supplier Network

ERP

Invoice Data Capture

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Key from Image / Paper

EDI / CXMLScan & OCR

Supplier Portal

Supplier Network

Email / PDF Mailroom Services

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

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….

Receive & Route

Inbound invoices generatea processing workflow with

highly configurable capabilities!

Process & Approve

Items to approve show up in user’s

queue for easy processing and approvals!

Also capable through email &portable devices.

Transmit Payment

Invoice payment informationis passed seamlessly

to ERP platform and relatedpayment information is

returned to archive withinvoice data.

Reporting Capability/Monthly Accruals

Robust and customizable reportingcapabilities gain tremendous

visibility to your AP invoice paymentprocess.

Better Managing AP Productivity

AP department “health checks”and workload balancing capabilities

are available throughout the solution!

Supplier Networks & Portals

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Next Question

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Supplier Portal & Networks

Advanced Integration Framework

Private-Hosted Deployment

Supplier Behavior

Data Capture

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Clear Visibility

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Distributing Invoices to Cost Centers

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Spreadsheet Invoices

Speed Approvals

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Research

Receiving/Financial Discrepancies

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

Easy to Use - Broad & Deep Product Suite

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Verian Suite

Verian PlatformWorkflow, Business Rules and

Policy Enforcement

Ease of Implementation

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Key from Image / Paper

EDI / CXMLScan & OCR

Supplier Portal

Supplier Network

Email / PDF

The 90 plus Difference

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Office Supplier & Materials

FacilitiesIT & Telecom Capital Expenditures Marketing

Kick-off

Questions?

• Kevin Zirkle• kzirkle@verian.com

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