Have you been thinking about automating your AP process but time slipped away from you in 2013? Don't let another year go by—take action and automate your AP in 2014. Join us, along with The Institute of Financial Operations, to learn the latest trends in AP and how you can begin a shift to AP automation. With a move to AP automation, there is no more losing invoices, chasing approvals, and updating endless spreadsheets. AP automation gives you a smoother and faster AP process with increased control and visibility, improved efficiency, and reduced fraud. Presenters: Craig Simpkins, CAPP, CFE, and Director of Global Process Organization at Johnson Controls Inc. Peter Bepler, Co-founder and President at Anybill With the fresh start of a new year, there is no better time to kick off your AP automation project. What are you waiting for?

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New Year, New AP

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Today’s Speaker
Craig Simpkins, CAPP, CFE
Director of Global Process Organization
Johnson Controls, Inc.
Peter Bepler
Co-founder and President
Anybill
Guest Faculty
Chris Hutson
Chief Financial Officer
Texas Tech Federal Credit Union
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3. What you will learn..
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Another year brings a new perspective to
driving efficiencies within your accounts
payable process.
In this webinar, we will discuss ways to:
- eliminate the agony of lost invoices
- streamline the approval process
- systematically track invoices
- improve visibility within the invoice process
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4. Top Financial Automation Goals
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Source: Invoice and Workflow Automation Benchmark Report, Paystream Advisors
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5. Polling Question #1
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If/when is your organization planning to automate?
A. No timeframe
B. Within a month
C. 2-6 months
D. More than 6 months
E. No plan to automate at this time
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6. Invoice Cost
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Average cost to process an invoice by Company size
Source: Invoice and Workflow Automation Benchmark Report, Paystream Advisors
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7. Invoice Receipt and Payment Process
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Method used for invoice collection and payment
Source: Invoice and Workflow Automation Benchmark Report, Paystream Advisors
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8. Current Challenges
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• High volumes of paper invoices and
paper-based payments result in:
– High costs
– Decentralized process
– Lost or missing invoices
– Multitude of errors
– Slow processing turnaround
– Lack of visibility
– Lost supplier discounts
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9. Tools and Technologies
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Solutions that can eliminate paper and drive efficiencies:
– Electronic invoicing
– Supplier portals
– Document scanning
– Data extraction
– Automated Workflow
– Electronic Payments
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10. Invoice Receipt Method
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Source: Invoice and Workflow Automation Benchmark Report, Paystream Advisors
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11. Invoice Receipt Method
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Paper decreases by 12
points over a two year
period from 64% to 52%
Source: Invoice and Workflow Automation Benchmark Report, Paystream Advisors
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12. Invoice Receipt Method
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Paper decreases by 12
points over a two year
period from 64% to 52%
Electronic invoices
increase by 17 points
over a two year period
from 14% to 31%
Source: Invoice and Workflow Automation Benchmark Report, Paystream Advisors
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13. Invoice Receipt Method
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Paper decreases by 12
points over a two year
period from 64% to 52%
Electronic invoices
increase by 17 points
over a two year period
from 14% to 31%
Faxes decrease slightly
over a two year period
from 9% to 5%
Source: Invoice and Workflow Automation Benchmark Report, Paystream Advisors
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14. Polling Question #2
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What percentage of your organization’s invoices are PO-based?
A. 0-20%
B. 21-40%
C. 41-60%
D. 61-80%
E. 81-100%
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15. Barriers to adoption of eInvoicing
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Budget constraints
Lack of business case (i.e ROI)
No buy-in from management
Lack of understanding of solutions
Staff not qualified to work with technology
Confidence in current processes
Lack of resources to support and maintain solution
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16. Benefits Achieved through eInvoicing
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Current Challenges of high
volumes of paper invoices and
paper-based payments:
High costs
Decentralized process
Lost or missing invoices
Multitude of errors
Slow processing
turnaround
Lack of visibility
Lost supplier discounts
Source: Invoice and Workflow Automation Benchmark Report, Paystream Advisors
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17. Benefits Achieved through eInvoicing
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Source: Invoice and Workflow Automation Benchmark Report, Paystream Advisors
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18. Supplier Portal
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Supplier portal in some form can facilitate:
• Transmission of Purchase Order to Supplier
• Electronic submission of invoice from supplier
• Data integrity to reduce invoicing errors
• Reduction in invoice capture and entry costs
• Real-time visibility and status of invoice
• Payment status
• Improved suppler relations
• And, It’s Green!
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19. Supplier Portal
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57% Companies
with revenue
> $5 billion
11% Companies
with revenue
< $250 million
Source: 2013 AP Automation Study: IFO and Anybill
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20. Supplier Portal
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Most important driver of your decision to implement a supplier portal
Source: 2013 AP Automation Study: IFO and Anybill
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21. Supplier Portal
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Which AP functions are supported through your supplier portal?
Source: 2013 AP Automation Study: IFO and Anybill
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22. Document Scanning/Data Capture
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Back-End Invoice Capture and Archival
• Invoices and supporting documentation are scanned at the end of the
process.
• Once indexing is complete, the document images are stored in an
electronic repository for retrieval based on the searchable fields
created.
Front-End Document and Data Capture
• Most advanced use of imaging technology
• Can either scan or utilize OCR
• Facilities workflow and approval process
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23. Document Scanning/Data Capture
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What types of capture technology are you using?
2012 Results were
47%
2012 Results were
36%
Source: 2013 AP Automation Study: IFO and Anybill
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24. Document Scanning/Data Capture
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Front-End Capture with Matching and Workflow
• Combines front-end document data capture with workflow
capabilities.
• Automates the invoice receipt-to-pay cycle.
• Enables AP departments to determine how different invoices are
handled
Automated Data Extraction Tools
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Facilitate the extraction of information from scanned invoices
Template-based Optical Character Recognition (OCR)
Free-Form recognition
Intelligent Document Recognition (IDR)
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25. Document Scanning/Data Capture
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Does your organization use OCR technology to capture invoice data?
23.3%
2012 results
were 80.6%
Yes
No
76.7%
Source: 2013 AP Automation Study: IFO and Anybill
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26. Document Scanning/Data Capture
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Primary reason why an organization does not utilize OCR
Source: 2013 AP Automation Study: IFO and Anybill
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27. Document Scanning/Data Capture
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Front-end Imaging with OCR/IDR
Adoption rates continue
to increase
Source: Invoice and Workflow Automation Benchmark Report, Paystream Advisors
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28. Automated Workflow
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Adoption of Approval Workflow Solutions
Source: Invoice and Workflow Automation Benchmark Report, Paystream Advisors
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29. Automated Workflow
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Benefits of Approval Workflow Solutions
Source: Invoice and Workflow Automation Benchmark Report, Paystream Advisors
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30. Polling Question #3
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Based on our discussion based on benefits of approval workflow
solutions, identify the top benefit received when implementing
this technology?
a)
b)
c)
d)
Improved productivity
Lower Costs
Quicker approval of invoices
Enhanced compliance
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31. Polling Question #3
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Based on our discussion based on benefits of approval workflow
solutions, identify the top benefit received when implementing
this technology?
a)
b)
c)
d)
Improved productivity
Lower Costs
Quicker approval of invoices
Enhanced compliance
At 78%
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32. Electronic Payments
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Benefits achieved through electronic payments:
• Lower processing costs
• Reduction in procure-to-pay cycle times
• Reduction in check fraud/lost checks
• Increased vendor satisfaction
• Increase in on-time payments
• Increased ability to capture early discounts
• Reduction in duplicate payments
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33. Electronic Payments
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Barriers to electronic payments:
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Lack of budget
ERP constraints
Comfortable with current process
Supplier resistance
Belief that ROI will not exist
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34. Electronic Payments
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Methods used for B2B Payments
2012 Results were
57%
2012 Results were
25.5%
Source: 2013 AP Automation Study: IFO and Anybill
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35. Electronic Payments
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The importance of electronic payments
Source: 2013 AP Automation Study: IFO and Anybill
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36. Electronic Payments
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Percent of invoices paid electronically
Opportunity
Source: Invoice and Workflow Automation Benchmark Report, Paystream Advisors
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37. Polling Question #4
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Based on our previous discussion related to electronic
payments, what percentage of your organization’s payments
are processed electronically?
A.
B.
C.
D.
E.
0-25%
26-50%
51-75%
76-100%
We don’t process electronic payments
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38. Supply Chain Finance
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Is trade finance part of your AP Strategy?
Source: 2013 AP Automation Study: IFO and Anybill
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39. Supplier Discounts
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Ability to Capture Supplier Discounts
Source: Invoice and Workflow Automation Benchmark Report, Paystream Advisors
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40. Benefits of the Cloud
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Benefits of Cloud or software-as-a-service solutions
Source: 2013 AP Automation Study: IFO and Anybill
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Case Study: Texas Tech Federal Credit Union
Challenges
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The number of invoices processed rose 100% within a two-year period
If they continued to process invoices manually, they would need to hire an
additional AP clerk
Solution
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Their Accounting department wanted to increase efficiency and cut costs
CFO’s priority was finding an integrated solution including entry, approval, and
especially payments component
Results
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Achieved its business goals and is better positioned to face auditing and
compliance issues in the future
Protects against costly errors
Dramatic improvement in processing and approval time
Now takes advantage of early-pay discounts, avoids late payment fees, and
improves cash flow
Access to online dashboard gives executives real-time, actionable data
anywhere, anytime
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42. Connected at last.
Connect with Us:
Twitter: @AnybillonDemand
LinkedIn: Anybill Financial Services
Facebook: Anybill
Google+: Anybill
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43. Conclusion
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• Trends show that organizations are adapting technological
solutions.
• Reducing costs within an organization to remain competitive
will continue to exist.
• Opportunities continue to increase in the area of procure-topay to capitalize an automated solutions.
• There are economical solutions to leverage when
implementing technology, “why buy a Cadillac when a Yugo
will be sufficient”
• The opportunity exists for you to drive your organization to
the next level…
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44. Final Thought
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With the fresh start of a new year, there is no
better time to kick off your AP automation
project.
What are you waiting for?
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45. Connected at last.
Thank you!
If you have further questions, please feel free to contact
the Anybill Team at info@anybill.com
Connect with Us:
Twitter: @AnybillonDemand
LinkedIn: Anybill Financial Services
Facebook: Anybill
Google+: Anybill
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