Accounts Payabe Killer App

Accounts Payable - The Killer App for SharePoint,[object Object]

Invoice Processing,[object Object],Average cost to process an invoice around, $12 ,[object Object],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,[object Object],Therefore if you process just 1000 per month savings could reach over $70000 per year. ,[object Object]

Benefits of AP Automation,[object Object],Capture - Scanning,[object Object],Increased processing speed,[object Object],Reduced labor – less data entry,[object Object],Reduced paper handling,[object Object],Decreased errors, Higher Accuracy,[object Object],Feeds ERP (Great Plains, SAP, Oracle, Lawson, etc.) systems ,[object Object]

Benefits of AP Automation,[object Object],Results of electronic paper,[object Object],Faster retrieval time Easy access to invoices (electronic),[object Object],On-Time payments,[object Object],More early payment discounts,[object Object],Auditable business processes – greater visibility,[object Object],Support compliance ,[object Object],No more misplaced/lost invoices,[object Object],Storage costs reduced or eliminated ,[object Object]

Agenda for Today’s Webinar,[object Object],Challenges facing Accounts Payable departments,[object Object],What to look for in a solution ,[object Object],Benefits of automated invoice processing ,[object Object],Invoice capture process,[object Object],Sample implementation,[object Object],Why a Information Worker centric solution,[object Object],Invoice capture demonstration,[object Object],Product Overview,[object Object],KnowledgeLake customer case studies,[object Object]

Challenges and Key Issues for Accounts Departments ,[object Object],Found in majority of organizations,[object Object],In fact any organization involved in buying or selling goods!,[object Object],Need for process automation increases,[object Object],70% of incoming mail is bills ,[object Object],96% of processing is manual keying of data from paper,[object Object]

Things to consider when you review Your Process ,[object Object],Identify and document existing processes,[object Object],What errors occur and what improvements can be made,[object Object],Remove paper from the process early on, sooner the better,[object Object],Store off-site if needed ,[object Object],Control access - secure storage,[object Object],Have an accurate audit trail - record receipt,[object Object],Track users productivity ,[object Object]

What to Look for in a Solution ,[object Object],Ease of use,[object Object],‘Out of the box‘,[object Object],No complex learning period,[object Object],Requires little to no maintenance,[object Object],No supplier-specific set-up or 'tuning' required,[object Object],Same level of performance when invoices change or are added ,[object Object],Improve your accounts payable process,[object Object],Automatically prioritize invoices from suppliers with early-payment discounts,[object Object],Route high-value invoices or problem invoices to exception handling - Workflow,[object Object],Delivers maximum cost reduction, don’t pay for more than you need. Take advantage of existing software and hardware investment,[object Object]

Benefits of Automated Invoice Processing Review,[object Object],Improved Data Accuracy,[object Object],Automation yields better data accuracy,[object Object],Preventing errors less costly than correcting them,[object Object],Human errors inevitable,[object Object],Difficult to catch, expensive to reverse,[object Object]

Reduce Invoice Processing Delays,[object Object],Reduce the time delay between receipt of invoice and posting,[object Object],Leverage early payment discounts,[object Object],Avoid late payment penalties,[object Object],Financial information available real-time ,[object Object],Quicker month, quarter and year end close,[object Object],AP staff are knowledge workers, not data entry clerks,[object Object],Separating data entry from accounts payable tasks saves money,[object Object],Accounts payable staff use their expertise in a more productive manner ,[object Object],Negotiating discounts,[object Object],Dealing with requests,[object Object],Reduce Paper Handling,[object Object]

Invoice Automation Process,[object Object]

AP Automation Challenges ,[object Object],No such thing as a typical invoice ,[object Object],Invoices vary in format,[object Object],Multiple pages,[object Object],Too many different formats to template,[object Object]

Classifies the document type,[object Object],Invoice,[object Object],Purchase order,[object Object],Credit note,[object Object],Packing Slips,[object Object]

Data for Extraction,[object Object],Date,[object Object],Purchase Order Number,[object Object],Invoice Number,[object Object],Supplier Details,[object Object],Total,[object Object],Tax,[object Object],Grand total,[object Object],Information is extracted and validated by operators or through database look-ups,[object Object],Matched to ERP system ,[object Object]

Backend System Integration,[object Object],Best-of-breed solution,[object Object],Open architecture platform - Compatibility with back-end systems,[object Object]

Customer Examples,[object Object]

“We now receive invoice approvals in hours versus weeks.”,[object Object],“With KnowledgeLake and SharePoint, we got rid of faxing and emailing for approvals [and] we increased processing by 40%!”,[object Object],Larry Bryant,[object Object],AP Supervisor,[object Object],Amdocs,[object Object],Lewie Wake,[object Object],CIO,[object Object],Advantage Sales & Marketing,[object Object],“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.”,[object Object],Dave Finnegan,[object Object],Chief Information Bear,[object Object],Build-A-Bear Workshop, Inc.,[object Object],Client Testimonials,[object Object]

Why a Microsoft Centric Solution,[object Object]

ECM Information Input Sources ,[object Object],Information Worker (IW) Capture,[object Object],Ad hoc input: scanning, electronic files,[object Object],Desktop driven content,[object Object],Production Capture (paper to image),[object Object],Converting paper and working with digital images,[object Object],Centralized and remote capture,[object Object],High volume ,[object Object],Scan and index done by dedicated staff,[object Object]

Information Worker (IW) ECM ,[object Object],Who are Information Workers,[object Object],Senior management, middle management, staff, clerks from all departments,[object Object],Busy people who don’t want new responsibilities unless the investment will make their job easier,[object Object],Produce and Handle High Value Content $$$,[object Object]

Information Worker ECM Challenge ,[object Object],Ease of Use, they don’t want:,[object Object],Complicated save and index processes,[object Object],Searching multiple repositories for related content,[object Object],Inefficient search process (lack of metadata) ,[object Object],Desktop not tightly integrated with ECM so users don’t publish content to repository ,[object Object],Low user adoption defeats ECM investment,[object Object]

Capture Demonstration,[object Object]

Separator Sheets,[object Object]

Enter SharePoint,[object Object]

LOB IntegrationGreat Plains,[object Object]

AP Just the On Ramp to a Document Management Environment,[object Object]

Document Imaging Benefits,[object Object],Reduce Environmental Impact ,[object Object],Improve Operational Efficiency,[object Object],Enhance Customer Service,[object Object],Eliminate Shipping and Faxing ,[object Object],Streamline Document Processing,[object Object],Enable Regulatory Compliance,[object Object],Decrease Operating Costs,[object Object],Decrease Storage Space ,[object Object],Provide Disaster Recovery,[object Object]

Release Into SharePoint Libraries

Complete Process In Just 2-clicks!

Scan Paper Documents With Desktop, Departmental And Production Scanners

Release Into SharePoint LibrariesConnect,[object Object],Capture,[object Object],SharePoint,[object Object],KnowledgeLake 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,[object Object],Server,[object Object],Imaging,[object Object],[object Object]

Perform Exact Relevance Searches With Any Combination Of Index Values

Central Enterprise Indexing Schema

Accounts Payabe Killer App

Accounts Payabe Killer App

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