DocProcess is a cloud finance and accounting automation solution based on Robotic Process Automation and eInvoicing. Designed for enterprises, SSCs and BPOs. Our solution, DocXchange helps companies automate their Accounts Payable and Accounts Receivable operations with robots in the cloud (RaaS).
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How RPA improves financial KPIs - DocProcess
1. RPA in financial processes
SAVINGS. Productivity.
Security. scalability
28.06.2018
Liviu Apolozan – CEO DocProcess
Bertrand Gregory – CFA Romania Hypermarche
2. Agenda
• What is RPA and why now?
• Accounts Payable automation with RPA and complementing
technologies
• Case study: Romania Hypermarché
• Where to start: steps on building an automation business case
3. 3,200partners
25,000
users
DocProcess
We offer services for the digital transformation of companies through RPA. Our
automation platforms are aimed at enterprises, shared services centers and
BPOs, with a focus on finance, accounting and logistic services.
5. What is RPA?
By freeing up human labor to provide additional capacity for strategic work ,
RPA creates more value with less investment. Employees can focus on tasks
requiring:
• Emotional intelligence
• Reasoning
• Judgement
• Interactions & building relationships
Robotic Process Automation or RPA is a software application that replicates
the actions of a human being. It is configured to follow business rules.
6. The evolution of robotics
Script based
automation of
routine tasks
that mimic
human actions
RPA
Cognitive
Language
Technologies
Machine
Learning
Deep Learning
Artificial
Intelligence
Techniques that
enable the
analysis, and the
understanding of
human language,
to facilitate
integration with
machines.
Autonomous
decision making
based on big
data, pattern
recognition and
statistical tools
Mimics human
intelligence in
handling
abstract
concepts.
Communicates
and responds to
a situation just
like a human.
7. Finance & Accounting – ripe for automation
Capgemini, Digital transformation to empower CFOs.
44%
of CFOs want to launch a
digital project in the coming
years.
-71%
Reduction in costs when
receiving a dematerialized
invoice (P2P)
-65%
Reduction in costs when
sending a dematerialized
invoice (O2C)
8. Why automate now?
Technological Economical Legal
• Ease of
implementation
• No need to
replace legacy IT
infrastructure.
• EU directive
mandating that
starting 2020, all
European B2G
companies will
have to be able
to issue/receive
e-documents.
• Mounting
pressure to
decrease costs
and achieve
operational
excellence
Social
• Lack of qualified
work force
10. What professionals need
Procurement
needs:
correct orders
placed to
suppliers
good
relationships
Logistics
needs:
correct &
timely order
fulfillment
Invoice
control needs:
correct
invoices
(fiscally &
contractually)
no disputes,
errors
timely invoices
Accounting
speedy
approval
easy journal
entry
Treasury
correct &
timely
payments
accurate cash
management
CFO
savings / cost
reduction
operational
efficiency
To fulfill all these needs, a specialized RPA-based platform is required
11. A intermediation platform: DocXchange
• ERP (iDoc,
EDIFACT, XML)
• Paper
• Pdf
• Online portal
Receive Process Pay
• Business rules
• Validation
• Matching
• Workflow / Approval
• Alerts
• Disputes
• General Ledger
allocation
• Payment approval
• Payment file
generation
• Payment validation
• Statement
reconciliation
SUPPLIER
BUYER
Master data
harmonization E-archiving Content Services
Status messages
Buyer’s bankSupplier’s bank
13. KPIs improved through automation
Operations
• Total cost to perform AP process
• Delivered goods, not invoiced
• No of invoices processed / FTE
• No of FTE / 1million EUR in revenue
• Invoices with exceptions vs correct
invoices
• Cycle time – invoice receipt to payment
processed
• % correct invoices
• % payments in due time
• Correct payments vs total payments
Operations (continued)
• Days payable outstanding
• Early payment discounts
Relationships
• Issues raised by suppliers
• No of supplier disputes
Employees
• Work satisfaction
• Individual productivity
14. Results
Dimension Before DocXchange After DocXchange
direct processing costs per correct invoice
with PO 4.5 Eur. 1.3 Eur.
No of inbound invoices/1 FTE / month 750 +30.000
% invoices with errors 35% 0.01%
Payback time
18 months (business case
estimate) 2-6 months * (real)
Indirect savings - 0.05%-1% revenue
Paper invoice volume 100% 3%
Inbound invoice posting 20-25 days Real time
Based on projects implemented 2013-2017 in Romania*Depending on the pricing model and the power buyer-supplier
16. Romania Hypermarché
Project outline:
• Retail locations: 11
• No of suppliers: +1400
• Invoice volume/ year:
500.000
• Investment: 20.000 eur.
• Savings @ 18months:
150.000 eur
• Increase in no of invoices processed / FTE
• More accurate cash flow predictions
• No more rejected invoices due to errors.
• No more delays in VAT recovery.
• Correct legal reporting (D394, D300)
• The elimination of goods received without invoice
• Significant reduction in outstanding bills / delayed payments
• Improved auditing process
Results
18. How to start a financial automation process
Centralize &
standardize
processes
Replace paper
with einvoices,
while using
OCR as
transitional
step.
Harmonize
master data
Replace and
automate:
Orders,
dispatch
advices,
receipts
Optimization steps
Benefits
Automate
journal entries
Automate
payment and
reconciliation
19. Appendix:
Ardent Partners – benchmarks
Full report is here: http://payablesplace.ardentpartners.com/epayables-2018/
21. Thank you!
Ileana Chermenschi
Marketing Director DocProcess
Ileana.chermenschi@doc-process.com
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