readsoft - asug georgia - feb 2014

8/10/2019 Readsoft - ASUG Georgia - Feb 2014

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FIND YOUR EDGE

Americas' SAP Users' Group

Best practices to optimize AP for improved processing in SAP

Margaux VourvouliasRegional Manager

Sheila CobbleSAP Specialist



Common issues and bottlenecks within AP

Customer stories

Best Practices and benefits of invoice processing

View automation inside of SAP

Learning Points

2



Slow and labor intensive data entry processes

Difficult and time consuming verification

Time intensive and ‘hand processed’ exception handling

Poor visibility and transparency into the entire process

Lost opportunities from delayed processing(like lost discounts)

Difficulty in measuring KPIs

Difficulty in analyzing the effectiveness of established processes

Challenges with incoming invoices

3



Accounts Payable Manager:

Eliminate inefficiencies in the invoiceprocess

Need better process visibility

Need better payment cycle time

Need more time for root cause analysis

Business issues driving SAP AP automation



SAP/Information Technology:

Simple to administer and upgrade

Fits corporate SAP IT strategy

Corporate Management: Lowest possible cost outlay

Visibility and control of liabilities

Accounting Accuracy

Audit-ability and SOX compliance

Business issues driving SAP AP automation



Reasonable EXPECTATIONS

Typical reduction of manual data

entry is 75% to 85%

Time-to-Pay - reduced from 20+ days to under 7 days Discount capture & late fees improved by 80%

Average Return on Investment of 6-8 months

Sources: ReadSoft, IAPP, ASUG, PayStream Advisors



Rich Products Corp.- 74% of PO based Invoices pass 3 way

match 1st time

- Discount Capture increased from

70% to 92%



- From 21 to 11 FTE’s while increasing

volume by 110,000 invoices

- Elimination of a very time consuming

100% audit



- Reduced average cycle time from 32 days to 6

- Reduced average error rate from 5% to .43%

- OCR read rate of up to 90%

- Improved D&B Credit score by 20 points

- Monthly Accruals reduced by $1 million

- 1099’s processing time reduced from 15 days to ½ day

http://www.transmontaigne.com/index.php



Best Practice Recommendations

Centralize invoice receipt

Centralize control

Establish imaging early in the AP process

Complete & early visibility Eliminate redundancies Enable up-front duplicate checking

Capture data from the images

Eliminates hand keying (both header and line items) Leverage data for sorting and workflow

Intercept invoices and auto-post with minimum handling

Match and auto-post PO based invoices where possible Auto-route invoice exceptions and those requiring approval w/workflow

Leverage workflow to SAP users and those outside of SAP

Use SAP “real time” data validation to ensure accuracy

Leverage analytical data to manage and improve processes Spot trends and process bottlenecks Root cause of specific problems



Best-Practice Solution

PROCESS DIRECTOR FOR AP

INVOICES

PERFORMANCE ANALYTICS

WORK CYCLE

Paper

Fax

Email

EDI

Upload

e-Invoicing

MOBILE APPROVAL



Improve control, decrease costs and manual work & streamline the order creation process within

SAP

Single point of entry to monitor the entire process and navigation to all relevant transactions

Allow users to handle the order process and exceptions where they are meant to be handled –

inside your SAP system.

A fully SAP certified Add-On from SAP release 4.6C to

ERP 6.0 with no modifications of SAP standard

Seamless integration with archive system (SAP ArchiveLink certified)

Reuse and optimization your existing SAP infrastructure = Low TCO

Why ReadSoft?



]

Thank you. For ongoing education in this area , visit www.readsoft.com.

Or contact me:

504.841.0128

[email protected]

http://www.readsoft.com/

http://www.readsoft.com/



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and customer-focused coverage of SAP.

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readsoft - asug georgia - feb 2014

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