Enhancing Your Bottom Line by Optimizing AR/AP Processes. Romil Turakhia, Director & COO, Automated Workflow romil@aworkflow.com

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1 Enhancing Your Bottom Line by Optimizing AR/AP Processes Romil Turakhia, Director & COO, Automated Workflow

2 We shall talk about Automation so far Solutions to Choose Dynamic Discounting Manage Vendors/Suppliers An experience to share Benefits

3 Current State Loss of procurement requests and invoices Physical movement of documents Inability to meet compliance policies Slow processing times outside of organisations mandated standards Financial reconciliation complicated by mistakes and outstanding invoices No process visibility making it hard to understand where improvements can be made Delays in processing may lead to missing discounts in early payments Process in key accounts staff member heads high risk

4 Automation so far EDI Centralized > De-centralized > Centralized (SSC) Imaging Workflow Collaborative

5 Objectives to Automate Reduce costs by automating, streamlining and integrating Increase efficiency by delivering information in context of work Have clear visibility of current and past transactions Improve service and gain competitive advantage with end-to-end process visibility Choosing the appropriate transaction

6 Solutions to Choose AWPL DotSphere Capture IBM FileNet BPM suite AWPL DotSphere Work Manager Implementation services from AWPL.lets look at how the solution is implemented

7 Invoices are scanned in Invoice Document is Auto-Indexed Image and Data Capture Staff Scans Invoices And stored in IBM FileNet ECM Repository

8 List of invoices to be worked on

9 Working on a Invoice

10 Working along with a ERP system

11 Compare Invoices

12 Audit trail for dispute management

13 Management Business Activity Monitoring Nina, Operations Manager Send Alert Vendor Timer Expired! Set Timer for 2 days

14 Dashboard

15 Date of invoice is date of dispatch from Vendor/Supplier Dynamic Discounting Initial time is lost in the Accounts department receiving Cash in this time with the solution discussed Discount to vary everyday rather than for specific durations Dashboards indicate to staff on the discounts that could be achieved for a given point of time Reminders alerting to act if action is not taken Monitor them through Dashboards

16 Manage Vendors/Suppliers Portals allowing Vendors/Suppliers to login Submit invoices Track status Attach supporting documents on exceptions System records Details of invoice submitted Actions taken by internal team Time taken at every step Responses received from vendors/suppliers Dispute resolution through audit trails / logs & referring historical data Drastic reduction in number of payment related calls Negotiate better supply contracts

17 An experience to share Implemented the solution discussed at a Shared Service Centre Serving two manufacturing plants across international locations Key Accounting Processes implemented: Accounts Payable Invoice Accounts Payable Payments Accounts Receivable Sales Accounts Receivable Receipts Supplier / Customer Creation Interbank Transfers Purchase Order Recording and 5 other Finance processes TAT reduced by 40% No physical movement of invoices nor dependency Solution working efficiently that it is now being discussed for implementing to other departments

18 Customers Worldwide: FileNet & 15,000+ IBM CM

19 Extending the solution to other processes Financial Insurance Government Manufacturing Cross Industry Account Origination Loan Processing Credit Card Auto Leasing Cash Management Discount Brokerage Investment Banking: Pitcbook Mortgage Loan Processing Overdraft Exception Processing Loan Sale Transfer Student Loan Processing Trust Admin HIPAA Claims Policyholder Service Membership Service Life & Annuities Health Insurance Property & Casualty Reinsurance Underwriting Warranty Health Claims Life New Business Justice Health/Welfare Transportation Homeland Security Court Case Management Land Records Legislative Administration Traffic Safety Unemployment Case Management Vital Records Child & Family Resources Human Services Lifecycle Asset Management Compliance Vendor Management Plant Availability Rate Case Management Reserve Data Seismic & Well History Project & Permit Management Quality & Safety Records Management Customer Service Network Management Compliance Accounts Payable Call Center Cash Receipts Contracts Customer Service Procurement On-Boarding Travel & Expense Management Sales Order Entry

20 Benefits Reduce Process days by 30-50% Improve worker productivity 20-30% Reduce administrative tasks by over 30%-50% Eliminates paper loss Enforces compliance Improved processing times Reduction in errors Processing can be tracked, measured and improved Have a platform for other business processes

21 Thank You 21 21