Introduction to Invoice Processing
Maximize Visibility & Control
February 28, 2013
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Agenda
• Introduction to Invoice Processing Automation
Review three key roles in every project
Each roles different interest in invoice automation
Key invoice automation software
How to develop an automation strategy that is right
for you
– Close / Questions
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Why invoice automation?
CFO wonders:
• $16.67 vs. $3.34
• 4x longer approve invoices
• Capture 18% vs. 90% discounts
• Struggle with Audit & Archive
AP manager wonders:
• Cut supplier calls
• Get faster approvals
• Identify disputed invoices
• Supplier based accruals
AP clerk wonders:
• Double my production?
• Allocate invoices to multiple cost centers
• Seen our last telecom bill
• Ever tried to do a 3 way match around here
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Lack of Visibility into Pending Invoices
Suppliers
Locations
Invoices Approved
In the Field
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Paper-Based P2P Workflow
Enterprise Procure-to-Pay Process
Sourcing
Order delivery
(PO, ASN)
1-3 days
Send invoice
4-7 days
Procurement
Process and
approve
invoice
Receive and
route
invoice
10-50 days
2-10 days
30-127-day cycle
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Invoice-payment
Transmit
payment
Resolve
exceptions
4-7 days
10-50 days
Invoice Processing
Forrester Research, 2010
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Goals
Goals
• Gain invoice visibility
• Reduce data entry costs
• Speed approvals
• Increase coding accuracy
• Enhance reporting & audit
• Manage cash more effectively
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Basic strategy
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eInvoicing
Mail room
Scanning
OCR
Automated Workflow
Supplier Portal
Supplier Network
ERP
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Invoice Data Capture
EDI / CXML
Scan & OCR
Supplier Network
Email / PDF
Supplier Portal
Mailroom Services
Key from Image / Paper
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Determining Capture strategies
Invoice Volume
EDI / CXML
Suppliers
Supplier Network
Supplier Portal
Scan & OCR
Key from Image Email / PDF
Invoices
Key from Image / Paper
Total Spend
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Next Question
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Send Invoice
Email/Fax
Vendor Portal &
Supplier Network
Scan Paper
OCR
EDI/XML
Quite often you require
the ability to accommodate
multiple methods of invoice
receipt….
Receive & Route
Inbound invoices generate
a processing workflow with
highly configurable capabilities!
Process & Approve
Items to approve show
up in user’s
queue for easy
processing and approvals!
Also capable through email &
portable devices.
Transmit Payment
Invoice payment information
is passed seamlessly
to ERP platform and related
payment information is
returned to archive with
invoice data.
Reporting Capability/Monthly Accruals
Robust and customizable reporting
capabilities gain tremendous
visibility to your AP invoice payment
process.
Better Managing AP Productivity
AP department “health checks”
and workload balancing capabilities
are available throughout the
solution!
Supplier Networks & Portals
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Next Question
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Supplier Portal & Networks
Advanced Integration Framework
Private-Hosted Deployment
Supplier Behavior
Data Capture
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Clear Visibility
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Distributing Invoices to Cost Centers
Spreadsheet Invoices
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Speed Approvals
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Research
Receiving/Financial Discrepancies
IA Reporting
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Reporting – activity
Process – thru put
Exception management
Discount capture
List that Kevin gave me
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Understanding
CFO wonders:
 $16.67 vs. $3.34
 4x longer approve invoices
 Capture 18% vs. 90% discounts
 Struggle with Audit & Archive
AP manager wonders:
 Cut supplier calls
 Get faster approvals
 Identify disputed invoices
 Supplier based accruals
AP clerk wonders:
 Double my production?
 Allocate invoices to multiple cost centers
 Seen our last telecom bill
 Ever tried to do a 3 way match around here
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Easy to Use - Broad & Deep Product Suite
Verian Suite
Verian Platform
Workflow, Business Rules and
Policy Enforcement
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Ease of Implementation
EDI / CXML
Scan & OCR
Supplier Network
Email / PDF
Supplier Portal
Key from Image / Paper
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The 90 plus Difference
Kick-off
Office Supplier
& Materials
IT & Telecom
Marketing Capital Expenditures Facilities
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Questions?
• Kevin Zirkle
• kzirkle@verian.com
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