Accounts Payable Automation

Accounts Payable Automation
Why Invoice Automation Matters

Michael R. Thomas | AMS Imaging

AP Evolution Continues
• Accounts Payable is Strategic
• Contract management
• Financial reporting and analysis

• Do More with Less
– Reduce Costs
– Improve Efficiency
– Eliminate Risk (Ensure Compliance)

The Payables process
20 $ – 40 $
Manual Error Handling
In & Outbound Calls
Invoice data cleanup
2$–5$ 6 $ – 10 $
Print, Paper, Postage Invoice Input, Approval avg 7 days
Delay 5 days 2 % discount loss

Seller Buyer
Invoice Invoice Invoice Invoice Invoice Invoice
Creation Delivery Distribution Receipt Verification Approval

Payment Payment Payment Payment Payment Payment
Check Receipt Delivery Initiation Approval Verification

2 $ – 10 $ 6 $ – 10 $
Processing Processing, Postage

4 $ – 10 $
Manual Error Handling
Self-Service
In & Outbound Calls

So What is Invoice
Automation?

Single Pipe
Invoice
Approval
Workflow
Data Capture Improve Data
Correction Quality
Separation Process- ERP
Classification Readytm
Detect Missing,
Extraction Data Invoice
Incomplete,
or Wrong Data Matching

Dispute
Resolution
No Error
Error
Confirmation
Notification
detected
XML/
EDI

Single Pipe
Invoice
Approval
Workflow
Data Capture Improve Data
Resend Quality
Invoice Separation Process- ERP
Classification Readytm
Detect Missing,
Extraction Data Invoice
Incomplete,
or Wrong Data Matching

Dispute
Resolution
No Error
Confirmation
detected
XML/
EDI

Learn By Example Approach
• Remember the location of data
Surf Sports
 Paragliding Sports

Waverider Street 28 Sky Is the Limit 2
79117 Frieburg 79100Frieburg
Germany Germany

Invoice Number IN3456789

Inv. Num Inv. Date
Date 29th Sept. 2010

IN3456789 29.Sept. 2010
PO Number 1st Sept. 2010

Xxxx xxxxxxx xxxxx xxxxxxxxxxxxxxxxxxxxxxxxxx xxx xxx,xx xxx,xx xxxxxxxxx
PO Number
----------------------------------------------------------------------------------------------------------------------------------
--------------------------
Xxxx xxxxxxx xxxxx xxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxx
xxx xxx,xx xxx,xx xxxxxxxxx
1st Sept. 2010
xxxxxxxxxxxxxxxxxxx

Xxxx xxxxxxx xxxxx xxxxxxxxxxxxxxxxxxxxxxxxxx xxx xxx,xx xxx,xx xxxxxxxxx Xxxx xxxxxxx xxxxx xxxxxxxxxxxxxxxxxxxxxxxxxx xxx xxx,xx xxx,xx xxxxxxxxx
xxxxxxxxxxxxxxxxxxx ----------------------------------------------------------------------------------------------------------------------------------
--------------------------
xxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxx

xxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxx
Xxxx xxxxxxx xxxxx xxxxxxxxxxxxxxxxxxxxxxxxxx xxx xxx,xx xxx,xx xxxxxxxxx xxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxx
oooooooo
oooooooo

VAT ID: DE123456789
Bank Details: Sparkasse Freiburg VAT ID: DE99776644 Bank Details: Volksbank
Bank Code: 564132157 Freiburg
Account: 5454698/7 Bank Code: 4522333 Account: 999888333

Slide 9 | Transform 2012 - Capture Driven Processes

Slide 9 | Transform 2012 - Capture Driven Processes

Learning a New Supplier
1st step: Enter the data, mark the document
for learning, train it

Learning Confirmation
2nd step: With 1 trained document we get
50% confidence, so train it again

Learning Done!
3rd step: With 2 trained documents we get
85% confidence, no more training required

Reduced Data Entry Costs
Typical Reduction in Data Entry
– 80% within 6 Weeks
– 90+% within 6 Months

Less Time Typing means more time for
value-added tasks!

Business Challenges of EDI
Do you recognize these business pains?

• You know the benefits of e-invoicing
but cannot get your suppliers on board.

• Your IT staff has limited resources to
roll out EDI.

• EDI is a very costly and complex solution.

• You receive EDI data and want to process and validate this
data together with your invoices received by post and email.

Step 4: Integrate Electronic Invoices

A common scenario...
Additional 15% of
100% 5% the suppliers can
90% be migrated to
15% electronic 30%
80%
70%
60% 30%
50% 70%
This represents
40% 30% of the
30% invoice volume 38%
20%
10% 10% 2%
0%
Suppliers Invoice volume

Paper/Credit Cards Paper/Fax Electr. Invoices EDI

e-Transactions
Seller Buyer
Invoicing System Accounts Payable System

ERP System ERP System
eInvoice eInvoice
Sender Instant electronic Receiver
delivery (2-3 sec)

Postal Service
(2-3 days) Open, sort, dis
Envelope tribute mail
Stamping (1-2 days)
Mail

e-Transactions
Seller Buyer
Invoicing System Accounts Payable System

ERP System ERP System
EDI eInvoice
via Receiver
VAN

Postal Service
(2-3 days) Open, sort, dis
Envelope tribute mail
Stamping (1-2 days)
Mail

Both Sides Win...
Seller Buyer
• Advantages of Step
• Single click to get invoice 1, 2, 3
into Buyer’s ERP • No mail room handling
• No
printing, envelope, stamp
• No scanning, no OCR
correction
s
• No Data Entry
• No manual handling
• Shorter DSO • Use notification to help
migrate suppliers
(days of sales
outstanding)


What About Approvals &
Coding?

Adding up the savings
Approx. Savings per invoice:
Control paper flow: $10+
Reduce Manual Labor: $1+
Enhance process transparancy : $1.50+
Add Electronic: $1.50+
Improve Data Quality: $3+
Automatic Feedback & Issue resolution: $5+

= Approx. savings from
$22 per invoice

Reduction of errors & dispute
costs with each phase

Next Steps

• Complimentary
ROI Profile
• White Paper(s)
• Custom
Demonstration

Thank You!

Thank You!
For More Information, Contact:
Michael R. Thomas
Director – Solution Development
631-406-9916
mthomas@amsimaging.com
http://www.amsimaging.com

Accounts Payable Automation

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