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Speed, Visibility and Control—
Best Practice AP Processing in Oracle E-Business Suite
Kevin Ryan, Regional Sales ManagerReadSoft Oracle Solutions
Presented by
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Agenda1. The Dilemma of Manual AP
Inefficient Risky Costly
2. The Advantages of Automated AP Processing− Hard Savings− Soft Savings
3. A Picture of Best Practice AP Processing− Simplify Processes− Apply Capable Technology
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The Dilemma of Manual APTop Pressures Driving Interest in AP Improvement
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A Day in the Life of an AP Department
Manual Environment
35%
35%
15%
15% Data entry
Exception handling
Vendor Support
Audits and ReportingSource: ReadSoft Customer Survey
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The Dilemma of Manual APInefficient
• Cumbersome processes– Physical mail– Hand keying and copying of invoices– Physical invoice approval routing– Excessive or slow communications
• Email, fax, mail– Ineffective problem resolutions– Manual storage
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The Dilemma of Manual APLacks Visibility
– Delayed receipt– Lots of missing invoices– Approval process tracking– Performance metrics and SLA– Accrued liability/
compliance reporting
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The Dilemma of Manual APPoor Controls
– Lack of standard procedures– Lengthy audits– Difficult to see fraud
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The Dilemma of Manual APCycle Time is Slow
– Missed discounts– Late payment penalties, services cut off– Unhappy vendors and poor credit rating– Inability to negotiate better terms/pricing
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The Dilemma of Manual APRestricts Scalability
– Unable to increase production volume without• Increased staff• Increased office space• Increased infrastructure• Increased supervision
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Advantages of AP AutomationBenefits of Approval Workflow
PayStream Advisors, 2013
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Advantages of AP AutomationHard Savings
– Dramatically lowers transaction costs– Reduction / reallocation of costs associated with
manual processing– Low TCO– Better terms
with suppliers– Fast ROI
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Advantages of AP AutomationSoft Savings - Speed
– Shorter processing and payment cycle times– Shorter response times– Productivity is improved– Streamlining of major AP sub-processes
• Invoice receipt• Approval and inquiry• Validation and reconciliation• Settlements
– Pre-defined best practice workflows
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Advantages of AP AutomationSoft Savings - Visibility
– Into the entire process• Three points: capture, workflow, ERP
– Into liabilities and operating expenses• Billing discrepancies• Overpayments• Unclaimed negotiated discounts• Contracted payment terms• Early payment discounts• Late penalty fees
– Reporting
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Advantages of AP AutomationSoft Savings - Control
– Simplified, automated invoice and workflow management
• Based on organization’s business rules
– Improved forecasting and cash management– Decreased financial risk through enforced compliance– Better coordination and information flow
• AP• Procurement• Finance• Treasury• Suppliers
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Best Practice AP ProcessingProcess
– Centralize invoice receipt– Institute a “No PO, No Pay” policy where possible
and integrate invoice-to-PO matching– Reduce paper and physical routing– Measure AP performance
• Once a month or more• Enable dashboards
– Standardize invoice processes• Across all locations and units• Eases difficulty of identifying root
causes or errors
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Best Practice AP ProcessingApply Technology – Key Capabilities
– Ensure that data are shared between solutions and all stakeholders
– IT Considerations• Consistent with Oracle’s Strategic Direction
– Fusion Middleware– Ease the transition when you upgrade to R12
• Quick implementation– Configurable versus customizable
• Seamless integration
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Best Practice AP ProcessingApply Technology
– Invest in automation of invoice receipt and workflow• Advanced OCR• Best practice workflow
» Automated PO matching» Accelerated coding» Line level approval
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AP Automation is Becoming Mainstream
15%
49%
33%
3%
Level of Accounts Payable Automation
HighMediumLowNone
The Accounts Payable Network, 2012
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The current state of APOCR Technology
The Institute of Financial Operations, 201
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Best Practice AP ProcessingApply Technology – Key Capabilities
– Other important considerations• Cloud Option• Mobile Approval Option• Vendor Portal Option• Reporting Tool Option
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Graco, Inc.
AP Manager, Graco, Inc.
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Green Mountain Power
“The users just accepted ReadSoft’s solution like it was
another piece of Oracle.”
“The users just accepted ReadSoft’s solution like it was
another piece of Oracle.”
“We’re able to better manage our money—we know what’s outstanding in people’s workflow,
waiting to be coded and then paid.”
“We’re able to better manage our money—we know what’s outstanding in people’s workflow,
waiting to be coded and then paid.”
Purchasing Manager, Green Mountain Power
Purchasing Manager, Green Mountain Power
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About ReadSoft Experts in AP Automation
8,500 customers Market leader in installations
Solutions validated by Oracle− Supports Oracle E-Business Suite R12− Dedicated Oracle Solutions Lab in Raleigh
Delivers low total cost of ownership (TCO) Simple, easy-to-use solutions Global footprint, stable company
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Questions
www.readsoft.com
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ReadSoft – Oracle Solution Discussion
April X, 2013
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RalieghReadSoft Corporate Background
Established in 1991 8,500+ customers 590 employees in 17 countries 300+ partners in 70 countries Oracle Platinum Partner ReadSoft Oracle Solution Lab
opened in 2005
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ReadSoft on the map
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ReadSoft Financials
Publicly traded on the NASDAQ OMX, Stockholm’s Small Cap List
Introduced dividends to shareholders for the first time in 2009
$121M Revenues in 2012
Continuing Positive Cash Flow– $12.5M reinvested into business in 2012
Product expansion in Capture, SAP and Oracle landscape on premise and in the cloud
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ReadSoft North America
Serves US and Canada
Largest subsidiary
Highest profit subsidiary
Largest consulting services and training staff
1,200 customers
84 employeesRaleigh
New OrleansREGIONAL HEADQUARTERS
ORACLE ERP SOLUTIONS LAB
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ReadSoft Oracle Customer Sampling
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Any ERP
Any targetsystem
Purchase to Pay / Order to Cash
Accounts Payable Automation
Purchase to Pay / Order to Cash
Accounts Payable Automation
Enterprise CaptureEnterprise Capture
DocumentsAll formats, all media
The ReadSoft overall offering
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Any ERP
Any targetsystem
CaptureCaptureIntegration and workflowIntegration and workflow
CaptureCaptureIntegration and workflowIntegration and workflow
CaptureCaptureIntegration and workflowIntegration and workflow Partners
DocumentsAll formats, all media
CaptureCapture Partner solutionsPartner solutions
The ReadSoft overall offering
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The ReadSoft ecosystem
Core technologies
Products
ReadSoft
Partners
Document classification Archiving solutions
Case managementData capture
Other ERPs
Solutions
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ReadSoft First to Add ERP Workflow
ReadSoft was the first capture vendor to fully recognize the importance of adding workflow (SAP and Oracle) to invoice capture.
Source: Document Imaging Report, September 18, 2009
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Acknowledgement
“Despite some competitive focus on analytics ReadSoft has acquired and partnered for both better technology and process logic.
ReadSoft's intelligent capture and its presentation of analytics in the cockpit continue to impress business buyers looking for certified integration, simple process automation and good management insight.”
Critical Capabilities in Composite Content Applications: Paper Invoice Automation, Toby Bell, Dec 2010
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Acknowledgement
Critical Capabilities in Composite Content Applications: Paper Invoice Automation, Toby Bell, Dec 2010
“With a wide range of solutions for procure to pay and order to cash, ReadSoft continues to excel at document process improvement surrounding ERP.”
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ReadSoft AP Automation Solution
Oracle Validated Integration Operates in the Oracle environment Security and support is guaranteed by Oracle
Supports Oracle version upgrades
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ReadSoft AP Automation Solution
Incorporates Oracle BPEL Reuses Oracle approval, and financial
and account settings Validates imported data against Oracle rules
Automated posting in Oracle AP for payment
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PROCESSIT Solution Suite
PROCESSIT – Document Processing Automation for Oracle® E-Business Suite
Automates the accounting and matching process for incoming invoices.Eliminates manual paper handling, typing,
storage & retrieval of invoices.Addresses the needs of the organization
including Application Monitoring Tools for IT
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Scanning OptionsLocalRemote DisconnectedWAN
E-Mail Delivery
E-Invoice XMLEDI
Supplier WorkbenchE-Form EntryPO Flip ERS
Invoice Capture Methods
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1 Inbound InvoicesInvoices in various forms are submitted by suppliers through multiple channels – in paper form or electronic format
2 Invoice Capture VerificationThe captured image and metadata is verified by an operator the first time around and only if needed afterwards
3 Invoice Data TransferThe captured image and metadata is transferred to PROCESSIT
4 Invoice ProcessingInvoices can be processed in a “lights out mode” for automatic staging in Oracle Accounts Payable for payment processing or can be routed for GL Account Coding, Matching, and Approval Management
5 Invoices Ready for PaymentInvoices are staged in Oracle Accounts Payable 11i or R12 ready for payment
Invoice process automation in Oracle EBS
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Sup
pli
ers
Mai
lro
om
Suppliers send invoices via mail, email, fax, XML
Mailroom scans paper invoices
Acc
oun
ts P
ayab
le
Invoices are interpreted by DOCUMENTS, verified by a user if required, and transferred to PROCESSIT
Automatic Match?
Approval Process according to ERP hierarchy
Approval Process according to ERP hierarchy
Invoices are ready for payment
Invoices are ready for payment
Account CodingAccount Coding
OCR-data is sent to ReadSoft DOCUMENTS
Standard invoice validations applied
No
Yes - Full match!
Automated invoice handling with optimized processing
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PROCESSIT Solution Suite
Licensed Add-On Modules extends the product, offering improved vendor collaboration, in-depth auditing reports for fraud risk analysis, and mobile device support
PROCESSIT MobilePROCESSIT Auditor Advanced EditionPROCESSIT Supplier Workbench (Web Portal)
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Automating Invoice Processing in Oracle E-Business Suite