the accounts payable department of the future ap...digitized manually coded manually approved...

THE BUXE Company

RETHINK WHAT AP CAN BE

The Accounts Payable Department of

the Future Modernizing an Archaic, Back Office Function

THE BUXE Company 2

Patrick StokowskiAccount Manager

Paro

Helee LevChief Revenue Officer

Goby

Our speakers

THE BUXE Company 3

Even today, most companies still run accounts payable (AP) the old fashioned way:by hand

THE BUXE CompanyCopyright © 2019 - Ardent Partners Ltd.

AP’S TOP CHALLENGES IN 2019

24%

33%

40%

49%

51%

62%

0% 10% 20% 30% 40% 50% 60% 70%

Lack of visibility into invoice and payment data

Getting the budget to invest in automation

Too much paper

Lack of respect/status within the organization

Invoice/payment approvals take too long

High percentage of exceptions

© Ardent Partners - 2019

THE BUXE Company

The diffusion of innovation

INNOVATORS2.5%

EARLY ADOPTERS13.5%

EARLY MAJORITY34%

LATE MAJORITY34%

LAGGARDS15%

THE BUXE Company 6

Manual processing of invoices costs companies billions per year

People are expensive

Manual mistakes are made

Opportunities are missed

THE BUXE Company

Nice

ACME2880 Sand Fork RoadMillersburg, IN 60606

ACME location #1736999 S. Platinum Dr.Beverly Hills, CA 90201

Manually digitized

Manually coded

Manually approved

There’s a better way to process invoices

Sent via postal service

Received at mail room

7

1

2

3

4

5

THE BUXE Company

It’s all about the opportunity cost

8

Before After

THE BUXE Company9

CAPTUREEvery invoice an intake

engine turns paper into digital information

CODINGArtificial intelligence reads the invoice and adds your accounting

information

WORKFLOW Exceptions are flagged

and electronically routed, invoice routed for approval based on your business process

ENTRYThe approved invoice is

sent right to your financial system or Enterprise Resource

Planning (ERP) platform

You can automate 100% of your invoicesOur solution is so simple you don’t even have to open the mail

THE BUXE Company

Save Money & Time+

Avoid Costs+

Make Money

ROI

THE BUXE Company

How will we save time & money?

Invoices do not get into the process as quickly as possible Coding errors

Errors in keying the invoice dataHigh paper storage and retrieval costs

Lost or misplaced invoicesDelays uploading data on approved invoices to downstream systems

Long approval and exception resolution cycles

Difficulty implementing operational best practices

Fix this:

THE BUXE Company

How will we avoid costs & fees?

Stop paying late fees Don’t be defrauded

Stop over-payingHire fewer people per invoice as you grow

Stop double-paying

THE BUXE Company

How will we make money?

Captureearly-pay discounts

Negotiatefavorable terms

Celebratecash-back rebates

THE BUXE Company

14

Consolidation of responsibilityWith remote accounts payableReduces redundancies and uncovers opportunities

All bookkeeping activities and AP functions can be handled by a single person, working remotely:

Fully automated AP

Improve cashflow

Reduce collections and risks

Value add activities

THE BUXE Company 15

The business case

THE BUXE Company 16

AP as a remote functionReducing redundancies uncovers outsourcing opportunities

Hiring a full-time CPA to accommodate a new client doesn’t make sense• Costs your company $140,000 (plus benefits)

Working on a project basis with Paro• Save as much as $70,000 per year

THE BUXE Company

A typical business case for AP Automation

Pre-Goby Monthly Processing Costs

$8.33 x 4,500 invoices = $37,485

A mid-market company with:• 1,000 employees • $200 million in revenue• 4,500 invoices paid per month• Limited automation

VSWith Goby Monthly Processing Costs

$4.20 x 4,500 invoices = $18,900

17

Savings of $223,020 per year

THE BUXE Company

Total savings

Project basis work with Paro:Automated AP with Goby:

$70,000 $223,020

Total: $293,020

Thank you!19

Thank you!

THE BUXE Company 20

Patrick Stokowskipat@paro.io

Helee Levhlev@gobyinc.com

Contact us!