Digitizing your accounts payable can make your whole company more agile by simplifying accounting and monitoring costs. Use Silicon Valley Bank’s checklist to help with your company’s transition to paperless payables.

1. How Paperless
PayablesCan
Streamline Ops
and Improve
Cash Flow
November 2017

2. svb.com
Agile is how you do business. But is
agile how you run your operations?
HowPaperlessPayablesCanStreamlineOpsandImproveCashFlow 2
Lean, growing companies
often focus on using the
latest tech to develop and
deliver their products…
…while their back-office
processes remain
informal and manual

3. svb.com
Using tech resources to
improve operations can
strengthen the whole business
3
Here’s how you can gain a strategic
advantage when you start by
automating accounts payable >>
HowPaperlessPayablesCanStreamlineOpsandImproveCashFlow

4. svb.com
Accounts Payable
automation payoffs:
HowPaperlessPayablesCanStreamlineOpsandImproveCashFlow 4
Streamlined
accounting tasks –
your staff
gets more done
Better cost
monitoring and
management
More precise
control over
payment timing
helps you manage
cash flow

5. svb.com
1. Invoice receipt and entry
2. Routing and approvals
3. Payments
Target these 3 areas:
HowPaperlessPayablesCanStreamlineOpsandImproveCashFlow 5

6. svb.com
• Offer suppliers a web-based
interface to directly upload
invoices or enter information.
• Eliminate time spent keying in
invoice data.
• Eliminate errors from manual
data entry.
1. Invoice receipt and entry
HowPaperlessPayablesCanStreamlineOpsandImproveCashFlow 6

7. svb.com
• Use software that matches invoices
with POs and routes for approval.
• Reduce duplicate or inappropriate
payments.
• Allow finance staff to easily track
invoice status, avoid late payments.
2. Routing and approvals
HowPaperlessPayablesCanStreamlineOpsandImproveCashFlow 7

8. svb.com
• Time payments precisely by pre-
scheduling electronic disbursements.
• E-pay with cards to gain transactional
data, which speeds reconciliation and
can improve procurement decisions.
• Automate virtual card number (VCN)
payments to add security and fine-
grained controls.
3. Payments
HowPaperlessPayablesCanStreamlineOpsandImproveCashFlow 8

9. svb.com
Ready to plan your
paperless payables transition?
HowPaperlessPayablesCanStreamlineOpsandImproveCashFlow 9
Put these items on your to-do list>>
Know your KPIs
Evaluate processes
Encourage suppliers to transition with you
Choose tools that deliver on your data needs
1
2
3
4

10. svb.com
• What’s your time – and labor cost – to
process an invoice manually?
• What percentage of available early-pay
discounts do you capture?
• What percentage of payments are wrong?
• What’s your percentage of invoice
exceptions?
Know your KPIs
HowPaperlessPayablesCanStreamlineOpsandImproveCashFlow 10

11. svb.com
Why track metrics?
HowPaperlessPayablesCanStreamlineOpsandImproveCashFlow 11
View
improvement
over time.
Compare your
business to
benchmarks
for your
industry.
Show a return
on process
improvements.

12. svb.com
• Map your processes, the steps and
time involved.
• Compare your KPIs to other companies to
see biggest room for improvement.
• Identify the procedures you can
streamline.
Evaluate processes
HowPaperlessPayablesCanStreamlineOpsandImproveCashFlow 12

13. svb.com
Change is an opportunity to
improve process.
13
Don’t digitize an inefficient workflow –
fix the workflow and support it with
automation.
HowPaperlessPayablesCanStreamlineOpsandImproveCashFlow

14. svb.com
• Help suppliers see how electronic
invoicing and payments saves them time
and money.
• Emphasize speed and security of credit
cards or ACH transfers.
• Consider negotiating short payment
terms with suppliers who agree to
accept cards.
• Ask your bank for help facilitating the
process.
Encourage suppliers to
transition with you
HowPaperlessPayablesCanStreamlineOpsandImproveCashFlow 14

15. svb.com
You and your suppliers both
benefit if they receive payments
electronically —
HowPaperlessPayablesCanStreamlineOpsandImproveCashFlow 15
but focus on payoffs to suppliers
to make your case.

16. svb.com
• Look for payables systems that provide
easy access to data.
• Ensure that formats can be ingested by
your favorite analysis tool.
• Make sure you can access the data you’re
most likely to use for evaluating KPIs and
planning procurement strategies.
Choose tools that deliver on your
data needs
HowPaperlessPayablesCanStreamlineOpsandImproveCashFlow 16

17. svb.com
With better spending data
available for analysis…
17
…your company may find opportunities
to consolidate suppliers or negotiate
better terms.
HowPaperlessPayablesCanStreamlineOpsandImproveCashFlow

18. svb.com
Know your starting KPIs
so you can measure
improvements.
Evaluate processes.
Encourage suppliers to
transition with you.
18
Review:
Your checklist for
implementing
accounts payable
automation
Choose tools that deliver
on your data needs.
HowPaperlessPayablesCanStreamlineOpsandImproveCashFlow

19. svb.com
Turning accounts payable into a fully
digital process —
HowPaperlessPayablesCanStreamlineOpsandImproveCashFlow 19
Saves time and
money
Allows for
more precise
cash-flow
management
Uncovers data to
help you analyze
costs and
optimize supplier
spending

20. svb.com
Want to know more about how
electronic payments can help you
reap the benefits of accounts payable
automation?
Get advice
from the experts at
svb.com/commercial-cards/

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