IT28 GOING PAPERLESS WITH MICROSOFT DYNAMICS NAV Tom Taylor, Microsoft

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1 IT28 GOING PAPERLESS WITH MICROSOFT DYNAMICS NAV 2016 Tom Taylor, Microsoft

2 YOUR PRESENTER Tom Taylor Partner Technology Strategist, Microsoft 12 years experience Dynamics NAV NAVUG member 9 years 2

3 SESSION OBJECTIVES Why does a truly paperless accounts payable (AP) process benefit your organization. What steps are required to define a paperless AP process. How to process different paperless AP scenarios. Where to learn more to implement Microsoft Dynamics NAV 2016 paperless AP process today. 3

4 BENEFITS TO YOUR ORGANIZATION Look at the problematic nature of manual AP processing. What are the advantages of adopting a paperless AP process. The impact: Bottom line cost savings. Document management provided out of the box. 4

5 PROBLEMATIC NATURE OF MANUAL AP Inefficient Lacks visibility Poor controls Physical mail Hand keying and copying of invoices Physical invoice approval routing Excessive or slow communications , fax, mail Ineffective problem resolutions Manual storage Delayed receipt Lost or missing invoices Approval process tracking Performance metrics and Service Level Agreements Accrued liability/ compliance reporting Lack of standard procedures Lengthy audits Difficult to see fraud 5

DILEMMA OF MANUAL ACCOUNTS PAYABLE Inefficient invoice management Manual routing of invoices 75% Missed discounts Late payment penalties Missing information on invoices Large number of exceptions

6 DILEMMA OF MANUAL ACCOUNTS PAYABLE Inefficient invoice management Manual routing of invoices 75% Missed discounts Late payment penalties Missing information on invoices Large number of exceptions Lengthy approval cycles 23% 30% 43% Unhappy vendors Inability to negotiate better terms Lost invoices Decentralized invoice receipt Source: PayStream Advisors, 2014 Microsoft Dynamics Report: Completing P2P with Cloud Technology 34% 37% 6

7 ADVANTAGES OF PAPERLESS AP Improved invoice management process FEWER SUPPLIES INQUIRIES 20% REDUCTION IN FTE/PROCESSING COSTS INCREASED ABILITY TO CAPTURE DISCOUNTS IMPROVED VENDOR SATISFACTION 20% 24% 40% FEWER DUPLICATE INVOICES 57% What are the greatest benefits you hope to achieve from an e- invoicing solution? REDUCTION IN EXCEPTIONS/DISCREPANCIES BETTER VISIBLITY ACROSS THE TRANSACTION QUICKER APPROVAL CYCLES INCREASED ON-TIME PAYMENTS FEWER LOST OR MISSING INVOICES 33% 37% 45% 39% 70% Source: PayStream Advisors, 2014 Microsoft Dynamics Report: Completing P2P with Cloud Technology 7

8 ADVANTAGES OF PAPERLESS AP Benefits of approval workflow Quicker approval of invoices Lower processing costs 59% 76% Quicker approval of invoices ranks as the top benefit to approval workflow. Increased employee productivity Reduction in late payments Improved visibility over liabilities Increased discount capture 22% 32% 41% 48% Better compliance with regulatory requirements (SOX, FASB) 14% PayStream Advisors, 2013 Invoice & Workflow Automation Report 8

KEY BENEFITS THAT EMPOWER 1 2 Efficiency Visibility AP Manager Director of IT or Dynamics Corporate Executive 3 4 Vendor Relations Control Eliminate inefficiencies in invoice processing Better

9 KEY BENEFITS THAT EMPOWER 1 2 Efficiency Visibility AP Manager Director of IT or Dynamics Corporate Executive 3 4 Vendor Relations Control Eliminate inefficiencies in invoice processing Better visibility Faster payment cycle time Time for analysis of root cause Solutions that are simple to administer and upgrade Fits corporate IT strategy Security concerns Lowest possible cost outlay Visibility and control of liabilities Accounting accuracy Auditability and SOX compliance 9

BEST IN CLASS THE IMPACT: BOTTOM LINE COSTS LAGGARDS AVERAGE 14.3 8.8 DAYS Invoice processing time 30 3.

10 BEST IN CLASS THE IMPACT: BOTTOM LINE COSTS LAGGARDS AVERAGE DAYS Invoice processing time $23.30 $9.60 PROCESSING Cost per invoice $ % 42.7% EARLY Payment discount capture rate 65.8% 10

11 INDUSTRY RESEARCH PAPERLESS AP Manual routing of invoices 75% AP processes can be drastically improved with automation Missing information on invoices 23% Large numbers of exceptions 43% Lengthy approval cycles 30% Lost invoices 37% Decentralized invoice receipt 34% Source: PayStream Advisors 2014 Microsoft Dynamics Report Especially in the areas of invoice receipt, matching and approval workflow Key areas for improvement: manual routing and lost invoices AUTOMATION DRIVES BEST-IN-CLASS AP PERFORMANCE 80% Lower invoice processing costs 75% Shorter invoice processing time 11

12 DOCUMENT MANAGEMENT BENEFITS Microsoft Dynamics NAV 2016 provides out of the box 12

13 CAPTURE & STORE INVOICES Incoming documents Add PDFs or images as incoming documents in Microsoft Dynamics NAV. Or receive incoming documents sent directly to the Lexmark Invoice Capture Service (ICS). Device camera integration The Microsoft Dynamics NAV device app now includes the ability to create an incoming document directly by taking a photo using the device camera. Another option is to use a photo app, such as Office Lens, and attach the image to an incoming document. 13

EXTRACT INVOICE DATA IN THE CLOUD Use low-cost Lexmark ICS service Rely on an optional, free or low-cost, cloud-based Lexmark ICS service with zero deployment, to extract data from purchase invoices

14 EXTRACT INVOICE DATA IN THE CLOUD Use low-cost Lexmark ICS service Rely on an optional, free or low-cost, cloud-based Lexmark ICS service with zero deployment, to extract data from purchase invoices and credit memos in incoming documents. Avoid retyping data If incoming documents are recognized as invoices or credit memos, corresponding Microsoft Dynamics NAV documents or journal lines can be created, based on the Lexmark ICS captured data. 14

15 AUTOMATE DOCUMENT HANDLING Approval workflow Use the new workflow features to set up approval workflows Automatic processing Add workflows to automatically process any Incoming electronic document, for example: Send & receive documents to/from the Lexmark ICS service Automatically create draft purchase documents in Microsoft Dynamics NAV Post draft documents Create payment lines for posted documents Define account rules Use text-to-account rules to select G/L accounts when creating documents in MicrosoftDynamics NAV, for example, based on the vendor name 15

FIND ORIGINAL AND CREATED DOCUMENTS Find created documents Quickly navigate from an incoming document to generated purchase documents or journal lines Find original documents On draft

16 FIND ORIGINAL AND CREATED DOCUMENTS Find created documents Quickly navigate from an incoming document to generated purchase documents or journal lines Find original documents On draft or posted purchase documents, as well as journal lines, a link to the incoming document, as well as any attachments, is available, allowing you to easily navigate to original documents. 16

17 STEPS REQUIRED FOR PAPERLESS AP OCR Service Setup Job Queues Approval User Setup 4 Workflows 5 Incoming Documents 6 Invoice approval and post for payment 17

18 OCR SERVICE SETUP Go to OCR Service Setup Set URLs to Default Signup URL Lexmark ICS Enter credentials from Test Connection Select Default OCR Doc. Template Select Enabled How to: Set Up an OCR Service 18

19 JOB QUEUES Job Query Entries Created Start Job Queue How to: Set Up Job Queues 19

20 APPROVAL USER SETUP How to: Set Up Approval Users 20

21 WORKFLOWS How to: Set Up Workflows 21

22 DEMO REVIEW SETUP STEPS REQUIRED FOR PAPERLESS AP

23 INCOMING DOCUMENTS How to: Use Incoming Documents 23

24 INVOICE APPROVAL & POST FOR PAYMENT 24

25 PROCESSING PAPERLESS AP SCENARIOS Create from File an AP invoice, approve, automatically posted and Payment Journal created Send vendor AP invoice(s) directly to Lexmark ICS Create AP invoice from camera via universal app Correct OCR Data 3-way match (PO, Receipt, Invoice from ICS) with inventory items 25

26 DEMO PROCESSING PAPERLESS AP SCENARIOS

27 WHERE CAN I LEARN MORE How Do I: Create and use Incoming Documents in Microsoft Dynamics NAV 2016 How Do I: Create an Invoice Using the Lexmark ICS for Microsoft Dynamics NAV 2016 How Do I: Create and use Workflow in Microsoft Dynamics NAV 2016 Lexmark Invoice Capture Service (ICS) for Microsoft Dynamics NAV 27

28 WHERE CAN I LEARN MORE Lexmark Invoice Capture Service Upcoming ICS Town Hall Webinars How to: Set Up an OCR Service How to: Set Up Job Queues How to: Set Up Approval Users How to: Set Up Workflows 28

29 WHERE CAN I LEARN MORE Have Your Own Dynamics NAV Test Environment in 90 Minutes Tuesday, June 07 1:15 PM - 2:45 PM Room: Schaumburg C NAVUG Primary Presenter(s): Tom Taylor Partner Technology Strategist, Microsoft 29

30 WHERE CAN I LEARN MORE Azure Free one-month trial Microsoft Dynamics NAV 2016 Azure demo environment How Do I: Make a Microsoft Dynamics NAV Demo Instance How Do I: Install and use the ClickOnce Demo package To access Azure portal that are shown in above videos 30

31 WHERE CAN I LEARN MORE E-fficient E-banking is E-xciting Wednesday, June 08 10:30 AM - 12:00 PM Room: Schaumburg A NAVUG Primary Presenter(s): Jared Hall Senior Program Manager, Microsoft 31

32 QUESTIONS

33 FINAL REMINDERS Contact information Tom Taylor, Microsoft Please download the session slides from the NAVUG Focus community Please complete your session survey 33

34 THANK YOU 34

Mike Ventrella, Vice President, Sales

Speed, Visibility and Control Best Practice AP Processing in Oracle E-Business Suite Presented by Mike Ventrella, Vice President, Sales Agenda 1. The Dilemma of Manual AP Inefficient Risky Costly 2. The