More control, efficiency and transparency. Accounts Payable Canon Business Solutions

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1 More control, efficiency and transparency Canon Business Solutions

2 Shape the way you want to Simpler solutions built around you This is your introduction to a simpler, smarter approach to. One that helps you take more control over your cash flow, saves you valuable time and gives you the peace of mind of a reinforced, simplified audit trail. Canon Business Solutions can address all stages of the journey, combining business process expertise with leading office technology. You can have the tools to add more value to your organisation and strengthen Finance s reputation as a profit centre, not a cost centre. These solutions are quick and easy to implement because they are built around your requirements and existing capabilities typical ROI is just 6-12 months. 2 3

3 Cash is the oxygen of business the ability to closely manage cash flow is more important than ever a critical area for business The (AP) process is central to many of the challenges facing Finance today controlling cash flow is critical to any business. But AP is also highly relevant in other areas: enabling more efficient working practices, scrutinising business spending and ensuring compliance. Room for improvement Identifying opportunities for improvement is relatively easy, but embracing them has been harder. Until now, the majority of solutions on the market have been designed with large enterprises in mind. These are too expensive and slow to implement for Small and Medium-sized businesses, and are often unsuitable for their specific needs. Keeping track of cash Cash is the oxygen of business, and with access to short-term credit becoming increasingly expensive, the ability to closely manage and forecast cash flow is vital. But errors and approval delays in the AP process slow down the flow of this vital information. The lack of one clear, timely overview of payment information makes it even harder to make effective payment decisions. Keeping an eye on how it is spent Finance needs to scrutinise payments to check if discounts are being applied. Poor visibility in AP processing can make it harder to spot more efficient procurement practices and negotiate better deals with suppliers. Timing is important late payments can incur expensive penalties or costly interest charges. When it comes to compliance and transparency, the lack of one coherent payments picture can make it harder to track errors and anomalies. If the AP process is not supported by robust archiving then Finance is unable to rely on a clear audit trail. Finance as a cost centre Finance is more than just a cost centre that eats up resource. It can be a key driver of growth, by spotting efficiency savings and identifying the most profitable areas of the business. But a heavy administrative workload and poor visibility can restrict its contribution, with skilled professionals spending too much time caught up in menial tasks. The AP process can eat up much of this time. Canon solutions Working with you, we can help you address your AP challenges and add more business value. Canon creates solutions for all stages of the AP process from large scale automation across the whole process, to simpler, smaller changes to improve visibility and control. Less time spent on menial tasks means more time spent adding value Take more control Whether it s by empowering faster, more accurate processing, or just enabling quicker, clearer reporting, you can improve your control over cash flow. Optimising the AP process means you get the information you need; faster and more accurately. And that lets you forecast more effectively over shorter timescales, improving cash-flow planning and budget management. Get a clearer view More visibility and control means you can avoid the pitfalls of late payments and time-consuming supplier disputes. With more free time, you can scrutinise payment discrepancies at lower thresholds than before, and identify more opportunities for smarter procurement. There are many ways to improve transparency too. These could just be simple changes to archiving that cuts the number of lost documents and saves you time. Or you could track invoice changes better, adding more context and detail for a stronger, more complete audit trail. Become a profit centre You can cut time spent on menial tasks and spend more time adding value to the business. More accuracy means less time spent resolving errors and supplier disputes. Easier access to information enables you to cut late payments and check discounts are being applied. The result? Smarter procurement. A clear overview of the AP process also highlights approval bottlenecks and other inefficiencies, allowing you to fine-tune working practices. Change is simple Canon s solutions are a simpler approach to AP, designed around your specific needs. It is the opposite of Big IT, working with the equipment and software you already have in the office for a faster ROI. Our user-friendly solutions make change simpler for your team but we can help with any training support you need. All the functionality, efficiency and control of a large enterprise system is now available to smaller Finance Departments. 4 5

4 : perfecting the process Looking at the AP process as a whole, we can identify where simple changes can make big improvements to cash flow control, efficiency and transparency. Canon s solutions start and finish with you, helping you make the changes you need to and nothing more. Invoice received Data capture Check & match data Invoice approval Pay & report Archive & analyse InvOICe received Hard copy, , fax, EDI DIGITISe extract data, DIGITISE, index, PRIORITISE MATCh PO, supplier, CURREnCY, vat MuLTIPLe APPROveRS multiple CHAnnels Pay FAST, efficient ARChiving CheCK & flag exceptions automatically ReSOLve APPROvAL queries quickly FAST, accurate reporting SCRuTInISe APPROve STROng audit TRAIL Payment control, visibility & transparency Handle a mix of hard copy and electronic invoices more easily Make existing automated systems work more effectively or even establish full automation from scratch Save time and cut errors by improving the way invoice data is extracted from invoices and used Cut time spent retyping and transferring information Quickly check discounts and supplier agreements are being applied Faster, more accurate matching and checking from POs and good receipts to credit notes and more 100% of exceptions flagged Join up your ERP technology and AP process more effectively Fine-tune authorisation rules: set lower threshold values for investigating discrepancies Highlight approval bottlenecks Resolve disputes quickly check supporting documents at a glance Give multiple approvers the information they need, wherever they need it Run clearer, timelier, more accurate reports Cut delays in invoice processing, allowing you to optimise the timing of your payments Track all changes in context for a stronger, simpler audit trail Improve relationships with suppliers and stakeholders Cut workload and boost transparency with faster, more effective archiving Spot inefficient purchasing practices within your business Check any invoice s progress through these stages at a glance, with an online portal 6 7

5 Canon Business Solutions Canon Business Solutions combine leading technology with business process knowhow. Expertise and experience Canon has been at the forefront of imaging and business technology for over 40 years. As information flow has become faster and more complex our role has evolved to include essential business processes. Our expertise in facilitating efficient working practices now helps organisations across Europe to get more from their technology. This expertise has now been formally brought together as a family of Canon Business Solutions. Delivering information advantage For all kinds of organisation, large to small, Canon gives people the tools to work better with their information. Our experts are on hand to help uncover efficiency savings, help you meet regulatory and environmental demands, and improve end users experience. Smarter, scalable approaches Canon solutions are made to fit your organisation. Our consultants design solutions based on what you want to achieve and the technology and resources at your disposal. This means implementation is quicker and easier, your personnel have a better user experience and your business benefits from faster ROI. Simple steps The first step to improving your AP process is an informal scoping meeting where you can discuss your particular process challenges with us. Based on this, we can explore what kind of solution would be suitable for you and what the likely benefits would be. Find out more visit our website to see how simple changes to can make a big difference. canon.co.uk/accountspayable Contact Douglas Embleton on or Douglas.Embleton@cuk.canon.co.uk Canon (UK) Ltd canon.co.uk Canon Ireland canon.ie Canon (UK) Ltd 2012 Canon (UK) Ltd Woodhatch Reigate Surrey RH2 8BF Telephone: Fax: Canon Ireland 3006 Lake Drive Citywest, Saggart Co Dublin Ireland Telephone: Fax: