Invoice Management Optimization with Cupenya Insights

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1 Invoice Management Optimization with Cupenya Insights Use predictive insights to maximize your working capital and ensure the straight-through processing of invoices

2 When it comes to optimizing accounts receivable (A/R) processes, the main goal is to generate and maintain a positive working capital. In order to maximize straight through processing of invoices, and have a productive and efficient workforce in place with minimal errors, companies have Key Performance Indicators (KPIs) in place to measure their accounts receivable process performance. Following are some examples of KPIs that are used to quantify your company s performance: KPIs: Days Sales Outstanding (DSO) Straight through processing Average monetary value of overdue invoices Collection Cycle Time % of overdue invoices Average Days Delinquent (ADD) Accounts Receivable Turnover Ratio (ART) The most common accounts receivable measure is the Days Sales Outstanding (DSO). The DSO tells you the average number of days that it takes for your company to collect revenue after a sale has been made. A high DSO results in an inadequate cash position for your company. It could also grow operational costs by requiring additional labor intensive tasks such as disputes. In order to decrease the DSO, it s vital to: A) proactively start the collection process based on expected overdue invoices, B) inform your employees with prioritized list of which invoices are at risk of being overdue, C) act on the long term to remove bottlenecks and waste in the process. Cupenya delivers a real-time and predictive process analytic solution that enables you and your workforce to monitor the most important KPIs. This would enable you to eventually make your accounts receivable process more efficient and effective on a long and short term and generate a positive working capital.

3 Operational Monitor A major part in the daily use of Cupenya is the operational monitor. Here all current open invoices are displayed with the context of the process. The order of this list is driven by two important factors - current and predicted KPI performance, and current and predicted process path. This determines the priority of work items for each individual agent, and ensures that the right work is done at the right time in order to maximize its impact. To give an example, invoices will be ordered based on: actual days elapsed since the item ordered or sent; the predicted delivery date based on our self-learning algorithm. In addition, by setting custom priority parameters, you can also ensure that invoices requiring manual matching will show up higher on your agent s action list of prioritized work items. Another added value of the operational monitor is the way its prediction capabilities proactively alerts for invoices that are predicted to be unpaid. This is proven to dramatically reduce the number of disputes received. Typical users are the process owners and operational employees.

4 Strategic Monitor In addition to the real-time monitor, you can also improve your accounts receivable process on a more strategic, long term basis by finding and eliminating bottlenecks and waste in the process. It is possible to create your own strategic reporting dashboard displaying the performance of your process overtime. According to your KPI, these dashboards will automatically determine the bottlenecks, showing you exactly which dimensions are the root cause of your KPI. Not only do these dashboards show you the root cause, but it also enables you to predict the processing flow over time. These dashboards do not require the involvement of IT or a third party and can be made on the fly by business people. Results are ready and usable within seconds. Typical users are the process owners, analysts, or management.

5 KPI Editor The last function of Cupenya Insights is the ability to define your own KPI at the snap of a finger. You are able to measure any dimension of your accounts receivable process. The user intensive design should enable every business user to do this by themselves. Lastly, when the process changes, you are able to quickly adapt the KPI measurements without the need for re-deployment. Conclusion With Cupenya Insights, you get an intelligence tool that ensures both the successful resolution of individual tickets, as well as the continuous improvement of overall process performance. Constant control over KPI performance on a day-to-day level, and a transparent overview of strategic process performance, are the best ways to achieve a flawless incident management operation. Cupenya is a lightweight process analytic solution that breaks the complexity of process data into concrete, productive actions. Cupenya Amsterdam Herengracht 180, Amsterdam Cupenya Dallas 221 N. Ervay, TX EU (NL): +31 (0) solutions@cupenya.com