Daryl Fullerton. Oil & Gas Industry Principal

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1 Daryl Fullerton Oil & Gas Industry Principal How increased visibility into e-invoicing & other P2P KPI Metrics speeds up Invoice Payment while also improving Operator / Supplier Relations PIDX EU Conference April 30 th 2013

2 Presentation Agenda / Discussion Points P2P Invoice Status Visibility within the Oil & Gas Industry at present. Key Drivers for increased visibility on P2P metrics. Operator Drivers Supplier Drivers Examples of KPI Metrics used in P2P/ e-invoice Initiatives Visibility Dashboards in Marathon Oil Challenges / Complexities faced in implementing. Remittance Data, Workflow Status, PIDX Invoice response. Impact of Dashboards on Faster Invoice Payment. Other Wins Lower Costs, Effect of Operator / Supplier Relations Key Takeaways Questions & Answers Confidential 2012 Actian Corporation 2

3 About Me

4 Invoice Status Visibility O&G Industry (Present) Many Operators have e-invoice Initiatives in operation or underway. On average 35% Electronic / EDI V 65% Paper Very few provide Visibility on the necessary KPIs to fully leverage the process efficiencies and cost reductions. Many do not provide Workflow Status / Remittance Data, under 8% provide full visibility on Invoice Status. Cost per 1 Page Invoice processing ranges from $1.30 to $67.30 all inclusive. Right First Time needs improved- Rework is high, approx 3-7% Automated Validation extremely low Many SME s and Mom & Pops type organizations are struggling with DSO, some even going to the wall through lack of Finance to fund DSO. Confidential 2012 Actian Corporation 4

5 Examples of P2P KPIs used in e-invoice Initiatives Financial Metrics Days Payables Outstanding (DPO) Figure % Payables Compliance with Net Terms Impact of Errors on Average DPO Alignment Quality / Compliance Metrics Right First Time Purchase Orders Right first Time Invoices Three Way Match PO, Invoice, Remittance Process Efficiencies Average Time to Process Invoice AP Team Size to Total Invoice Ratio Environmental Efficiencies Percentage Paper V Electronic Ratio Quarter on Quarter Paper Reduction % Confidential 2012 Actian Corporation 5

6 Operator Drivers for KPI Visibility Improve Days Payables Outstanding (DPO) Reduce Accounts Payable (AP) Costs Meet Supplier Charter of Net 30 Days Higher 3 Way Match Ratio Improve Supplier Relations Confidential 2012 Actian Corporation 6

7 Supplier / Service Co Drivers for KPI Visibility Reduction in Days Sales Outstanding (DSO) Reduce costs & time spent on Invoice Chasing Improved Forecasting on Accounts Receivable More Accurate Cashflows Ability to use Dashboard Reports on Invoice Status to provide assurance when raising finance for short to medium term. Confidential 2012 Actian Corporation 7

8 Finance for Days Sales Outstanding (DSO) Factoring (Cost in region or % ) Invoice Discounting / Dynamic Discounting (.25 to 7%) Bank Finance (Overdraft) New Investment Confidential 2012 Actian Corporation 8

9 Systems Vendors- Drivers for KPI Visibility Visibility Dashboards in 9

10 Marathon Oil - Key P2P Initiative Objectives Increase Efficiencies within P2P Process Invoices Submission / Approval / Payment Drive Better relations with Suppliers Invoice Error Reduction Faster Payment DPO Alignment to Net Terms Better Supplier relations Reduce Costs Automate & Reduce Manual Entry Supplier Costs Time o/s Chasing Invoices Improve P2P Reporting Capabilities Management Information Visibility Reporting to Suppliers Learning and Continuous Improvement Marathon Side Improvements Supplier Side Improvements Drive Success to other Areas of Marathon Oil Corp 10

11 Challenges faced on Marathon s Journey to Success Upsetting the Status Quo Benefits of moving to Electronic Business Case Managing the Risks of Switchover Suppliers e-commerce Capability Technology / Systems Integration Experience Change in Process On-boarding / Handholding Error Resolution Ticket Management Fear of the Dark Hole Giving Suppliers Visibility on Status Demonstrating Improvements on DSO 11

12 A Joint approach to Invoice Errors & DPO Alignment Education: - Establish and educate that the problem was from both sides (a shared problem) - Needed a way of sharing with Supplier the Impact of Errors on their Days Sales Outstanding - Show trending of better Right First Time Invoices on the reduction in DSO figure. Provide Visibility on Problem: -Visibility needed to be shared: - DSO Trends - Right First Time Invoices - Invoices in Error Improve: - Show the improvements to the Supplier - Faster Invoice Processing - DSO Reduction - Share the Success Net Terms Alignment 12

13 Impact of Errors on Overall DPO Illustrative DSO Data Example What was needed was To demonstrate to the suppliers that Invoices in Error Will impact their 30 DSO Figure Negatively Mar Apr May Jun Jul SAMPLE DATA DSO (Inc Invoices in Error) Aug Sep Oct Nov Dec Jan Feb DSO (Right First Time Invoices) Where as Right First Time Invoices Will have a Positive Effect (Reduce DSO)

14 Impact of Right First Time Invoices on DPO / DSO Five Step Approach 1. Visibility on current DPO against Net Terms (DSO Dashboards) 2. Visibility on Invoice Errors and Exceptions 3. Collaborative Approach with Suppliers on Fixing Errors 4. Live Reporting on Invoice Error Reduction 5. Show Supplier improvement on Suppliers Days Sales Outstanding (ongoing access)

15 Visibility Giving Marathon Suppliers Visibility was Key

16 Marathon Oil Provided Dashboard Visibility to Suppliers

17 DPO Report - Drill Down to Invoice Level

18 DPO Percentage by Month

19 Net Terms V DPO By Invoice

20 Dashboard Visibility Provided to Suppliers

21 Visibility Likewise for Invoices in Error

22 Marathon Oil Errors Management - Visibility to Suppliers SUPPLIER 1 SUPPLIER 2 SUPPLIER 3 SUPPLIER 4 SUPPLIER 5 SUPPLIER 6 SUPPLIER 7

23 Supplier Errors - By Error Type

24 2014 Desired State - Minimal Error impact DPO Illustrative DSO Data Example Mar Apr May Jun Jul DSO (Inc Invoices in Error) DSO (Right First Time Invoices) Aug Sep Oct Nov Dec Jan Feb Desired State is that there are so few errors that the impact on Days Sales Outstanding is as Close to Zero as possible Or that there are ZERO Errors And 100% Right First Time Invoices

25 Marathon Oil Success What does it Look Like? Marathon Success : Compliance with Supplier Charter on Net Terms Full Visibility on status of all Invoices Drill down ability to Invoice Level. Workflow approval status. MOC Cost per Invoice Processed Less than $1 Better Invoice Errors and Exceptions Mgt Reduced time on Supplier Calls Supplier Success: All Invoices Paid within Net Terms Rework Eliminated Right First Time Invoice Reduced AR Costs Eliminate the need for invoice Chasing. Better Operator / Supplier Relations 25

26 Challenges / Complexities faced in implementing. Reporting Time-lag - Electronic / EDI V Paper Not All Operators systems provide Invoice Response Only a few Operators Provide Remittance Data Work Flow Status not always provided. AP to document and Log Invoice Error Reasons Properly. Confidential 2012 Actian Corporation 26

27 Challenges / Complexities faced in implementing. Reporting Time-lag - Electronic / EDI V Paper Not All Operators systems provide Invoice Response Only a few Operators Provide Remittance Data Work Flow Status not always provided. AP to document and Log Invoice Error Reasons Properly. Ways to Overcome Extract of Workflow Status on Paper Invoices. Invoice Payment Extract from ERP Feeds Remittance Data Confidential 2012 Actian Corporation 27

28 Impact of Dashboards on Faster Invoice Payment. Supplier has ongoing access to visibility on Invoice Status thereby providing a focus for timely and accurate invoicing. Reduces the gap between Invoice Date and Receipt Date Visibility on Impact or Invoices in Error on DSO helps drive better Right First Time Invoice Ratio. AP team have more time for approval processing invoices rather than fielding telephone calls on invoice status. AP team can focus on ways of driving further efficiencies Confidential 2012 Actian Corporation 28

29 Bank Finance (what do they want?) Always require: Detailed Cashflow Forecasts Detailed Status on Current Debtors Listing Proof of Net Terms Agreed Confidential 2012 Actian Corporation 29

30 Bank Finance (what do they want?) Banks always require: Detailed Cashflow Detailed Status on Debtors Listing Proof of Net Terms Agreed Right First Time 100% Improving the chance of securing Bank Finance: Assurance to Bank on past DSO to Net Terms Alignment, ie 28.8 days Assurance on Right First Time Invoice track record 100% Right First Time Invoices Detailed Report Confidential 2012 Actian Corporation 30

31 Other Wins from increased Supplier Visibility Lower costs for Operator & Supplier Making Calls, Fielding Calls, Invoice Rework Better Operator Supplier Relations Less Drain on other Resources Supply Chain Managers, Account executives Improved Cashflows for Suppliers Higher degree of Assurance on Invoice payment for Finance Commitments Less Suppliers going to Wall Confidential 2012 Actian Corporation 31

32 Key Takeaways Sharing Visibility on Invoice Status / P2P Metrics with Suppliers reduces AP / AR team costs. Show Right First Time Invoices KPIs to further reduce costs Share the Success Others will follow. Confidential 2012 Actian Corporation 32

33 Questions??? Confidential 2012 Actian Corporation 33

34 Thank You Confidential 2012 Actian Corporation 34

35 Disclaimer This document is for informational purposes only and is subject to change at any time without notice. The information in this document is proprietary to Actian and no part of this document may be reproduced, copied, or transmitted in any form or for any purpose without the express prior written permission of Actian. This document is not intended to be binding upon Actian to any particular course of business, pricing, product strategy, and/or development. Actian assumes no responsibility for errors or omissions in this document. Actian shall have no liability for damages of any kind including without limitation direct, special, indirect, or consequential damages that may result from the use of these materials. Actian does not warrant the accuracy or completeness of the information, text, graphics, links, or other items contained within this material. This document is provided without a warranty of any kind, either express or implied, including but not limited to the implied warranties of merchantability, fitness for a particular purpose, or noninfringement. Confidential 2012 Actian Corporation 35

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