Jeff Haller Managing Partner & CEO DataServ Finding the Key to the Master Lock: Integrating AP and AR to Drive Better Business Performance Jeff Haller Managing Partner & CEO DataServ www.DataServ.us 1
What Businesses Can Benefit from Better Coordination? Billing consists largely of third-party costs Distribution companies with direct ship volume Construction companies - Numerous supplier/subcontractor invoices needing aggregation into one client invoice Cooperative purchase arrangements BlackHawk is a distribution company
Finding the Key to the Master Lock: Integrating AP and AR to Drive Better Business Performance BlackHawk - New company focused on “Buy and Build” with industrial distributors First acquisition - Duncan Equipment Company (2010) DataServ AP automation client since 2004
Why is this coordination valuable? Finding the Key to the Master Lock: Integrating AP and AR to Drive Better Business Performance Why is this coordination valuable? Direct ship customer billing dependent on AP information Impacts cash flow, credit collections, and earnings
Finding the Key to the Master Lock: Integrating AP and AR to Drive Better Business Performance Supplier relations! “Vendor/Partners” are key “Get your act together and don’t make us do extra work” DataServ solution enables: Better vendor relationships More agile approach for AR improvements Process/Staffing model options
Finding the Key to the Master Lock: Integrating AP and AR to Drive Better Business Performance
Automating AP provided these AR benefits Finding the Key to the Master Lock: Integrating AP and AR to Drive Better Business Performance Automating AP provided these AR benefits Reduced redundant billing centers Eliminated manual keying of direct ship invoices (for AR entry) Reduced time to bill client Reduced paper routing between AP and AR departments Dual data entry AP data made available immediately for AR billing
Finding the Key to the Master Lock: Integrating AP and AR to Drive Better Business Performance Results (as of April) 27,000+ invoices per month Direct ship - 14,000 invoices per month Same day invoice receipt to billing turnaround 27 locations working in the system Number of AP processors utilizing the system - 7 Invoices processed per month per FTE - 3800+!
Build a Bridge Between AP and AR! Finding the Key to the Master Lock: Integrating AP and AR to Drive Better Business Performance Build a Bridge Between AP and AR! 5 points: Capture invoices upfront as soon as possible Utilize “the right” OCR strategy to eliminate data entry and capture 2nd level data Transfer upfront invoice capture to AR for same-day client billing Eliminate sequential AP to AR process Prioritize direct ship invoices from AP to eliminate billing delays
Finding the Key to the Master Lock: Integrating AP and AR to Drive Better Business Performance www.DataServ.us Follow DataServ: http://www.linkedin.com/company/7156 https://twitter.com/DataServ