The New AP Strategy: Leveraging Automation and Working Capital Optimization to Generate Revenue

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1 The New AP Strategy: Leveraging Automation and Working Capital Optimization to Generate Revenue Agenda Identify Your Goals Why Automate? The New Payment Strategy Review Your Current Environment Leverage Multiple Payment Options Maximize Revenue Earning Payment Types Supply Chain Finance vs. Dynamic Discounting Develop a Solid ROI Take Action! Commerce Bank Overview 1

2 Identify Your Goals Identify Your Goals Source: 2014 Finance Executive Survey, Institute of Finance & Management (IOFM) 2

3 Identify Your Goals Process Efficiencies Streamline invoice receipt, approval workflow, and exception handling Provide automated audit trail to meet regulations Reduce exception rates Cost Savings & Revenue Improvement Eliminate costly paper-based processes Lower invoice processing and payment costs Take full advantage of AP discount opportunities Realize revenue opportunities from commercial card program Strategic Impact Utilize immediate access to information for timely and accurate analysis Increase controls and enforce regulatory compliance Why Automate? Increase Process Efficiencies & Reduce Costs 3

4 Why Automate? Invoice Payment Process Automation Invoice Capture Workflow Approval Payment & Reconciliation Receives paper/electronic invoices, captures important data, and inputs into a workflow or payment system Routes invoice for approval Processes vendor payments via a number of payment methods (AP Card, ACH, check, wire, Supply Chain Finance) Why Automate? Automated Invoice Processing Automated entry of invoice information Automated Payments Maintain control over payments Exception Invoices routed to proper workbasket for Processing Electronically route invoices for review/approval All payment types managed by Solution (Provider) Reconciliation of payment file with ERP Focus on exception and vendor analysis Increased penetration of electronic payments No manual filing or retrieval No manual filing or retrieval Complete audit trail 4

5 Why Automate? Available Cost Savings Hard Cost Savings Invoice processing costs Check writing costs Increased cash flow Business operating costs Infrastructure costs Compliance Lost documents Revenue Share Soft Cost Savings Compliance Reallocation of personnel Increased productivity Improved vendor relationships Immediate access to information Faster internal communications Automated workflow Better decisions quicker Security & Disaster Recovery Why Automate? What To Do With The Time Saved Work with buyers and suppliers Pricing, terms negotiation, payment strategies, grow revenue share 5% reduction in Cost of Goods Sold equates to a 22% increase in sales* Spend analysis Accruals, cash requirements over time Maximize discounts Value of 2/10 NET 30 term is equivalent to a 36% gross Rate of Return Analyze cycle time Which vendors are slow to be paid and why? Where are discount opportunities being missed? Where does the process break down? Focus on exceptions Address and eliminate the root cause *Source: The Accounts Payable Network 5

6 The New AP Strategy The New AP Strategy Review your current environment Develop a focused payment strategy Reduce costs to labor, paper, postage and check writing Capture early payment discounts Maximize revenue opportunity with commercial card program Leverage multiple payment options effectively Utilize Supply Chain Finance Control DPO with automated payment program Off-load escheatment process Utilize staff to higher analytical capacity Maximize ROI of AP department 6

7 Review Your Current Environment Review Your Current Environment Sample AP Spend Analysis 7

8 Review Your Current Environment Sample AP Spend Analysis Sample AP Spend Analysis- Decision Status % New Opportunity Vendors by Decision Status Unmatched 1% 8% 4% Auto Acceptpr 50% 37% 0% Frequent Decliner Conditional Frequent Acceptor % New Opportunity Spend by Decision Status 1% 8% 4% 50% 37% Unmatched Auto Acceptpr Frequent Decliner Conditional 0% Frequent Acceptor Unlikely 8

9 Leverage Multiple Payment Options Leverage Multiple Payment Options Buyers have much more leverage regarding their payment method than they realize. Consumer Buying Power Supplier Payment Acceptance 18% 37% 63% Low Degree of Control High Degree of Control 82% Likey to Accept Card Unlikely to Accept Card How much negotiating power do you as a buyer have with suppliers regarding the method of payment used? How likely would you as a supplier be to accept a card from a customer that mandated it as a method of payment? Source: Kaiser Associates Study,

10 Leverage Multiple Payment Options Converting to Electronic Payments Single Use Pull Payments Commercial Card/Virtual Card Card on File Your Vendors Electronic Private Network/ Supply Chain Finance ACH/EFT Wire Transfer Push Payments Work to capture revenue opportunities and reduce costs throughout your Vendor Master File. Paper Checks Maximize Revenue Earning Payment Types 10

11 Maximize Revenue Earning Payment Types Revenue Generating Card Programs AP Card, E-Payables, Commercial Card Use Card Programs to pay your invoices with a credit card Earn revenue share, rebates, & rewards based on the spend volume Replace paper checks Supply Chain Finance Buy Now / Pay Later Line of credit to pay vendors early to take advantage of discount terms Buyer maintains standard DPO; Supplier shortens DSO Automated processing based on established discount scale Maximize Revenue Earning Payment Types The Payment Dilemma Suppliers want to reduce payment time Buyers want to extend payment time Both parties want to manage risk Both parties use tools to manage capital 11

12 Supply Chain Finance vs. Dynamic Discounting Supply Chain Finance vs. Dynamic Discounting Dynamic Discounting Allows suppliers and buyers to collaborate on payments The supplier offers a discount for early payment The earlier the payment, the greater the discount Early payment of approved invoices using Buyer funds Shortens Buyer s Days Payable Outstanding (DPO) Very difficult without automation Impacts cash flow Buy Now / Pay Later Supply Chain Finance The supplier offers a discount for early payment The earlier the payment, the greater the discount Early payment of approved invoices using Bank funds Buyer maintains standard DPO Shortens Suppliers Days Sales Outstanding (DSO) Automated processing based on established daily discount scale Improves cash flow 12

13 What is Supply Chain Finance? 3% Automated Approval % Discount 2% 1.5% 1% Manual Approval # of Invoices Enable a new world of working capital opportunities.5% Days Strategic Payment Optimization Smallest Supplier Total AP Spend Largest Supplier Commercial Card Total AP Spend (Includes All Vendors) ACH &Check Supply Chain Finance 13

14 Strategic Payment Optimization Get complete, spend file with all vendors Analyze full supplier base and identify value in the supply chain Automation allows ability to leverage different payment types Maximize available value within payment strategy Develop a Solid ROI 14

15 Develop a Solid ROI Building the Business Case - ROI $1,600,000 5 Year Cumulative Projection Develop a Solid ROI $1,400,000 $1,200,000 $1,000,000 $800,000 $600,000 Processing Costs Labor Rellocation Cost Savings Revenue Share $400,000 $200,000 Assumptions: Transaction Growth - 15% YOY Revenue Growth - 5% YOY Cost Saving Growth - 2% YOY Labor Saving Growth - 3% YOY $0 Year 1 Projection Year 3 Projection Year 5 Projection 15

16 Take Action! Solidify your challenges, ideas, and goals in one place Take Action! AP Automation Self Assessment Please take five minutes to complete our brief survey. Thank you. 16

17 Executive Summary Take Action! Accounts Payable Analysis Goals and Requirements Current Process Solution Overview Proposed Solution Benefits ROI Implementation Methodology Take Action! Activating A Solution Initiate & Plan Control & Execute Stabilize & Close Strategic vision Current process review Statement of goals & objectives Executive Sponsor meeting AP Analysis Onsite workshop Revise AP Analysis Project plan Payment solution installation Integration & system conversion Status updates User training Project launch Project summation Ongoing support Post launch recommend - actions & next steps 17

18 Why Commerce Bank? Full suite of AP solution offerings combined with high-touch service model and dedicated vendor enrollment team Robust Contact and Payment Management Systems Ongoing vendor enrollment after initial program implementation Dedicated vendor support teams Innovation to meet our Clients evolving needs Why Commerce Bank? 150 Years in the industry # 9 Forbes list of America s Best Banks 1 Moody s highest rating 1 of 4 banks in the country 2 $24B in assets 36 th Largest U.S. bank 3 5 th Generation Of management by Kemper family #12 4,744, Employees Top performing bank by Bank Director Magazine 4 1 Forbes magazine, December 22, Moody s Investor Services, Inc., December 8, SNL Financial ; ranking as of September 30, Bank Director magazine, August

19 Stop by our booth to learn more Learn More Commercevantage.com Kurt Wachtendorf, APSC, CDIA+ National Consulting Team Manager Office: Mobile:

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