1. Secrets of World-Class AP Departments
JIM FLINK
SR. SALES DIRECTOR

2. Quick Poll #1
How many in the room currently have an AP Automation or Document Management solution?
AP Automation
Document Management
Document Imaging/Scanning only
None
docSTAR can assist you in any of these levels of document management and create a customized phased implementation plan for your AP Automation needs.

3. $14.21 2,308 2015 Invoicing Benchmarks 12.4 days 13.1%
Average Cost per Invoice
Averages Invoices per FTE
$14.21
2,308
Average Invoice Cycle Time
Average Exception Rate
We all know that many AP depts still struggle with manual AP Invoice processing and how inefficient that largely paper-based process can be but what are the actual numbers that are key indicators that people should be aware of today?
12.4 days
13.1%

4. That Persistent Paper Problem
Invoice Formats
© Ardent Partners

5. Top Challenges for AP in 2015

6. The Opportunity for AP Automation
Reduce procure-to-pay process time
Effectively capture early payment discounts
Improve supplier and customer relations
Gain greater business insights

7. AP Automation Adoption Rates
© 2016 Pay Stream Advisors, Inc

8. Invoice Routing and Approval Methods
© 2016 Pay Stream Advisors, Inc

9. Invoice Routing and Approval Methods
Using existing tools like to improve
manual processes is only a temporary remedy—it is not a sustainable
solution, and it does not solve all process pains.
© 2016 Pay Stream Advisors, Inc

10. Top Improvements Gained thru AP Automation
© 2016 Pay Stream Advisors, Inc

11. The Technology Exists
So based on the data it’s safe to say that if you’re not using an AP Automation solution today, you should be considering it seriously. You’ll be putting your organization at a huge disadvantage against competition if you don’t. So really what ARE the Secrets of the Best-in-Class?
© Ardent Partners

12. Quick Poll #2 How automated do you believe AP Automation can be?
No human interaction
Some human interaction
Heavy human interaction
It can be any of these depending on what phase of implementing an AP Automation you are in. Automation ranges from partial to full automation.

13. AP Metrics (Best-in-Class v. All Others)
Cost per Invoice
$2.42
$17.61
Invoices Processed per FTE / month
4,814
1,408
Invoice Processing Cycle Time
3.7 Days
17.1 Days
Invoice Exception Rate
8.0%
16.4%
© Ardent Partners

14. The Best-in-Class Advantage: An AP Example
Per 1,000 Invoices
Best-in-Class Monthly Cost
$2,420
Best-in-Class $2.42 per invoice
All Others Monthly Cost:
$17,610
All Others $17.61 per Invoice
Best-in-Class AP groups have invoice processing costs that are 86% less than their competitors

15. Best-in-Class Processing Advantage
what technologies support high performance teams in driving greater efficiency?
© Ardent Partners

16. Basics of AP Automation
CAPTURE invoices from multiple sources: Scanner, Multi-Function Copier, Import, , Fax
INDEX invoices using: Invoice number, Vendor name, PO number, Line item detail*
INTEGRATION to Dynamics GP for powerful automation
WORKFLOW for Matching, Routing, Review, & Approvals
CENTRAL REPOSITORY for Secure Archiving and Retention
Capture – Bringing all your invoices into one uniform process can be challenging. Variety of sources both paper and electronic. Mail, Fax, (different formats: PDF, Excel, Word)
Indexing – Assigning keywords to your invoice documents for later ease of retrieval. How much information do you assign? How will you want to find it later?
Integration – Integrate with Dynamics GP and other systems to create powerful streamlined and automated solutions eliminating redundant and unnecessary manual data entry
Workflow- Matching, Routing, Review, & Approvals – 2/3-way matching and routing your invoices for exception handling, further review and approvals as needed in a consistent fashion. This helps condition your team members as to what’s expected when they receive a communication.
Central Repository – Deciding on where and how long to keep your invoice documents depends on a variety of factors. Do you want your documents on your premises or in the Cloud? Are you enforcing document retention policies?

17. Integration w/Microsoft Dynamics GP
Perform 2 & 3 way matching using data in Dynamics GP
Eliminate redundant data entry by populate transaction data into Dynamics GP through eConnect
Retrieve documents directly from your Dynamics GP system with embedded buttons
Perform 2 & 3 way matching using data in GP
Eliminate redundant data entry by populate transaction data into GP through eConnect
Retrieve documents directly from your GP system with embedded buttons

18. Streamline AP Invoice Approvals

19. Secrets of the Best-in-Class
Top 20% - Best in Class AP Organizations
Secret 1 - Standardized processes and strong P2P linkage
Secret 2 - Visibility to track the “metrics that matter”
Secret 3 - Superior levels of automation
Document imaging/scanning
Automated routing and workflow
Secret 4 - Strong process capabilities
Two and three-way matching
Straight-through invoice processing

20. Why Make the Change? Automating AP simplifies invoice approval
AP teams no longer perform data entry
Teams become more strategic, instead of tactical
Significant cost-savings from operations
Able to capture more early payment discounts
36.7% annualized rate of return on 2/10, net 30 discounts

21. Transforming an AP Operation
Engage all relevant project stakeholders
Understand business & technical requirements
Determine long-term goals & objectives
Align required resources
Understand the project’s budget constraints
Find an appropriate vendor

22. Strategies for Success
Make the business case for AP automation
Collaborate with all affected stakeholders
Follow the lead of the Best-in-Class on processing
Examine scan-and-capture & document management as a first step toward full automation
AP metrics matter – identify and track the key financial, operational, and supplier indicators

23. What Is the Cloud?

24. What is the cloud? SAAS Software as a Service Major Hosting Providers
Subscription Fee Based (Operation Expense vs Capital)
Usually includes Support
Storage Costs
Limits Hardware Investment (Workstations Needed)
Requires Internet Connectivity
Major Hosting Providers
Amazon Web Services, Microsoft Azure, and private built

25. Cloud Pros & Cons Pros Limited Hardware Investment
Lower Up Front Costs
Limited IT Support Requirements
Limits Licensing Needs (SQL, OS)
Usually Provides Automated Backups
Accessible from multiple locations
Usually designed to be highly redundant

26. Cloud Pros & Cons Cons Reliant on Internet Connectivity On-Going Costs
Security Concerns (HIPAA, ITAR)
Software Change Process not in your control

27. Contact DocStar Jim Flink 609-402-5121 jflink@docstar.com
DocStar Corporate
(1-888-DocStar)
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