Si Simplif mplify th the Pr Procu ocure re to to Pay Pr Proce ocess ss October 9, 2017
What at is is Pr Proc ocur ure e to Pay (P2P)? )? Procure to Pay is the PROCESS of Purc urcha hasin sing Mat ater eria ial ……. thru ru Su Supplier pplier Paymen yment Process Process Process …………. Activity 1 Activity 2 Activity ‘n’
‘How to’ Simplify the Procure to Pay Process? Dig igit itiz ize these ese 7 Key Process rocess Act ctiv ivities ities Reconciliation of Maintaining Creation of A/P Creation of Creation/Approval Receipt of Supplier Invoices Supplier Pricing Vouchers and Sourcing/RFQ Purchase Orders with of PO Reqs Material Catalogs Payment PO’s/Receipts
of Di Digitizing itizing the What at ar are t e the e benef enefits its of e P2P Process? rocess? Some of the benefits our Clients have achieved include: ✓ Negotiate better pricing ✓ Enforce pricing control and eliminate maverick spend ✓ Reduce purchasing process cycle time/cost ✓ Reduce handling of paper ✓ Improve employee productivity ✓ Reduce auditing costs ✓ Improved process visibility/tracking
Digitize Di ze the the Proces rocess IT Business Solutions development and implementation methodology • for transforming Business Processes from Analog to Digital Not only automation! • Leveraging 21 st Century Technology to facilitate the 3 C’s • Communication • Collaboration • Connectivity •
Mo More re specifically… Connecting People and Processes via the Cloud, Mobile Devices, Social Media with Multi-Dimensional Approval Routing Technology
Su Supporting porting Rese Resear arch ch Data collected by Aberdeen indicate that Best in Class businesses are digitizing their business for the following reasons: ➢ 46% to promote collaboration between business processes and business units ➢ 29% to manage cases based on goals rather than rigid processes ➢ 29% to create more intelligent workflows ➢ 21% to remap and re-engineer business processes to be more efficient ➢ 21% to decrease response times to internal and external events Source: ‘Don’t Be Left Behind: The Time for Digital Transformation is Now’, October 2015
Going ing Paperless aperless ROI* OI* ✓ Avg. paper document takes 18 minutes to locate ✓ Paper document filing costs avg. $20/doc ✓ Misfiled docs cost $125/doc ✓ Lost documents cost $350-$700/doc ✓ Paper usage in most businesses grows 22% annually ✓ Each 4 drawer file cabinet contains approx. 10K docs and takes up to 9 sq. ft. of floor space costing approx. $1500/year to maintain ✓ Every 12 file cabinets requires 1 additional employee to maintain *Based upon studies by Price Waterhouse, Gartner and Forrester
eP eProc rocuremen urement t ge genera nerates tes REA EAL cost st savi savings ngs! “On average, e-procurement solutions reduced requisition-to-order cycle cost and time by 49% and 65%, respectively.” The e-Procurement Benchmark Report - Aberdeen Performance area Before After Requisition-to-order costs $51 $26 Requisition-to-order cycle time 9.6 Days 3.4 Days Source: Aberdeen Group
The e IS ISS S Group roup/Easy /Easy Acce cess ss Pr Procu ocure re to Pay ay So Solu lution tion + ™ ™ Maintaining Reconciliation of Creation of A/P Creation/Approval Creation of Supplier Pricing Supplier Invoices Vouchers and Sourcing/RFQ Receipt of Material of PO Reqs Purchase Orders Catalogs with PO’s/Receipts Payment QAD Tables QAD Tables QAD Tables (Item, Supplier…) (PO, Receipt…) (A/P…)
™ - Pur urchasi hasing ng Ma Manag nageme ement nt Pre-Integrated with QAD EE, SE and EAM ▪ Web-based Solution offering On-premise or Cloud Deployment, Mobile Functionality ▪ Configurable Rules Based Routing for PO Requisition Approval ▪ Create PO Requisition and create Supplier Pricing Catalogs from Supplier Quotes ▪ Create electronic Purchase Order Requisitions for routing and approval ▪ Auto create QAD Purchase Order upon Requisition approval ▪ Create Supplier Request for Quotation (RFQ) ▪ Supplier Catalog Management ▪ eCommerce Shopping with all Major Suppliers (Punchouts) ▪ Project Budgeting/Spend Tracking ▪ QAD MRP Action Center ▪ Purchasing Analytics (UNSPSC)/Process Metrics ▪
™ - A/P Autom omation ation Pre-Integrated with QAD EE and SE ▪ On-premise or Cloud Based Deployment ▪ E-Invoicing ▪ OCR Invoice Capture ▪ Process both PO (Consignment and non-Consignment) and non-PO Invoices ▪ 2-way and 3-way electronic PO/receipt/invoice reconciliation ▪ Configurable Rules Based Workflow for Collaboration, Issue Resolution and Approval ▪ Create QAD A/P Vouchers upon Invoice approval ▪ Invoice and related documents storage and retrieval ▪ Payments Analytics ▪
™ - Cas ase e St Study dy Maintaining Reconciliation of Creation of A/P Creation/Approval Creation of Supplier Pricing Supplier Invoices Vouchers and Sourcing/RFQ Receipt of Material of PO Reqs Purchase Orders Catalogs with PO’s/Receipts Payment A/P Automation
Sea ean n Bro rown wn IT Manager ™
History A/P Autom omati ation on at at f for orme mer r Em Emplo loyer er (l (lar arge ge QAD Use ser) r) • Background of Employer • Requirements • Problems faced with ‘other’ Solution Introduction to iVoucher™ • Skepticism • Consignment Requirement a MUST!
Objectives ➢ Able e to p pro rocess ess larg rge e In Invoices ices ➢ Re Redu duce ce time to enter Invoic oices es into QAD ➢ Turn A/P resources urces into business iness partner ers Free ee-up up resou ource ces s to perform rm ad-valu lue e activiti vities es • ➢ Re Redu duce e time to reconcile ile Invoices ices to PO/R /Rec eceip eipts ➢ Impro rove on-time ime paym yments ents and take advanta antage ge of payme yment nt discount scounts ➢ Reduce/eliminate ‘lost’ Invoices
Why iVoucher ™ ? ✓ Outsour urce ce OCR Proc roces ess • Im Impro rove scanning nning accura racy cy (ta tags) gs) ✓ Abl ble to pro process ss consignme ignment nt Invoice ices ✓ SaaS de depl ployment nt ✓ Configu figurab rable le ru rules/A s/App pproval al rou routing ing ✓ Cos ost effecti fective ✓ Quick k impl plementation ntation ✓ Ease of use ✓ Redu duction tion of pa pape per! r!
Small PO Invoice Pairing and Matching
LARGE PO Invoice Pairing and Matching LARGE 6 Page Invoice
Implementation Timeline & Challenges o Impl plementation ntation timeli line: ne: 90 days from project kick-off to go-live o Team size: 3 Somero non-dedicated members, 1 Easy Access member, 1 ISS Group member o Challenge nges: : Consignment Invoices (QAD Functionality)
Benefits ✓ Significant reduction in A/P resource time savings ✓ Significant reduction in paper ✓ Improved capture of payment discounts ✓ Reduction of lost invoices ✓ Improved Relationship w/Suppliers ✓ Virtual Desktop
Virtual Desktop
i Vo Vouch ucher er ™ Results esults – Aug ugust ust 2017 17 838 (72%) PO Invoices posted into QAD with no manual intervention
Value Generated ➢ Saving $7,000+/mth in A/P Processing Costs! ➢ Saving $2,500+/mth in reduce paper storage costs! ➢ Saving $1000+/mth in lost payment discounts! * Based on 1700 – 1800 Invoices Processed/Mth
Mi Milind lind Agt gtey CEO ™
The ISS Group/Easy Access Procure to Pay Portal* P2P Portal Purchase Orders Supplier Invoices Open Open MTD MTD $ $ YTD YTD Payments WTD $ MTD YTD *to be released in early 2018
Porta rtal l Fu Functi nctions ons ➢ Purchasing Related ➢ Invoicing Related ➢ Payment Related ➢ Image and Document Repository ➢ Business Intelligence ➢ Supplier Communication ➢ P2P Process Activity Monitoring
Invo In voice ice Aut utom omation ation 1. Paper invoice arrives, is scanned & data captured using OCR technology 2. For PO invoices – if data matches the PO, invoice is automatically loaded and vouchered into QAD - Tou ouch chles less For Non PO invoices – Routing ing is automatic 3. Metrics – Use Metric rics to improve process 4. 5. Solution integrates with your QAD
Touchless uchless Pro rocessin cessing g of In Invo voice ice - Ex Exam ample ple
De Demo mo of iV iVouc ucher her ™ Web-Based Invoice Capture Invoice Capture Automated Workflow Automated Routing & Approval
MW MWUG UG Conferen onference ce SP SPEC ECIAL IAL! Introducing Bundle $25/User/Mth includes i Approve™, i Purchase™ & i Quote™ $1.40/Invoice for i Voucher™ Stop by the ISS Group or Easy Access booths for more details
Copy of Presentation A download of this presentation will be available on the ISS Group Blog page at: www.ISSGroup.com/news
Lea earn rn mo more re ab about ut IS ISS S Group oup an and our ur So Solu lution ions www.ISSGroup.com
Questions? Contact Andy Weinstein at: ➢ aweinstein@issgroup.net ➢ sales@issgroup.net Thank You!
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