workfolw automation the next step in ap success
DESCRIPTION
You’ve implemented e-invoicing. Now you’re ready for the next step – workflow automation. Imagine if 95% of the invoices received could be routed and handled without a processor ever having to look at them. This is what automated workflow can do for your AP department. During this Webinar you’ll learn how to: • Automatically route, validate, and approve invoices • Track the full history of invoice and approval workflow • Reduce fraud, duplication, and late payment fees • Lower invoice processing costsTRANSCRIPT
Agenda
Top AP Workflow Concerns
AP Automation Lifecycle
AP Workflow Basics
Demo
Questions
AP Automation Lifecycle
A/P Innovation Lifecycle
Paper CheckEDI
P-Cards
B2B E-Payments
E-Procurement
Electronic Invoicing
Dynamic Discounting
OCR
Front-end Imaging& Workflow
Source: Paystream Advisors
Workflow Removes Touchpoints
Removing touch points allows AP to:– Simplify, standardize, and
centralize processes– Enhances the value of
automation investments– Lift processes up to strategic
& tactical level in the organization
What Goes Away with Workflow
Results– Manual delegation of authority
validation– Duplicate invoice checking– GL coding validation– Manual data entry into AP
System– Invoice paper file cabinets– End User invoice approval
training– Touching 100% of invoices –
Zero Touch
Purchase Order Requestor
Attention Name or Department
Vendor Based
Invoice Amounts
Balance Due: $992.53
APPROVED INVOICE/AP REVIEW
AP System
FIRST LEVEL APPROVER
HIGHER LEVEL APPROVER
ELECTRONIC INTERFACE
Match Rule Exception Workflow
APReceiving
RequisitionerPurchasing
Invoice Data
PO and
Receipt of
Goods
Exceptions
ERP
Straight Through Processing
Summary• AP Workflow is moving from growth to
maturity stage
• Removing touchpoints is critical for ROI
• AP workflow is not just for non PO invoices
• Mobile approval is critical
Internet Internet
Saas vs Cloud
Software
Platform
Infrastructure
SaaS – business model Cloud – hosting option
SaaS
PaaS
IaaSCloud Provider
PDA / Smartphone
Home Office
Office
Mobile