Better procurement, spend control and cash-flow visibility. Purchase-to-Pay Canon Business Solutions

Transcription

1 Better procurement, spend control and cash-flow visibility Purchase-to-Pay Canon Business Solutions

2 Purchase-to-Pay automation for unified governance across procurement and finance. This is your introduction to a simpler and streamlined way to make smarter finance and procurement decisions, improving spend and cash flow management. It means building a partnership with your suppliers and better collaboration between procurement and finance. Canon s Purchase-to-Pay solution is designed to make procurement and finance work better together, enabling both teams to pursue more strategic goals. Canon Purchase-to-Pay will give you vital control and visibility over the entire process (from requisition through to payment) under a single platform, to support compliance, provide security and help reduce costs.

3 Purchase-to-Pay automation is all about increasing profitability the ability to closely manage spend and cash-flow thanks to better optimised and interlinked processes. Purchase-to-Pay the essential step to business growth For organisations looking to radically improve their purchasing and finance operations and get the best from both, Canon Purchase-to-Pay provides streamlined procurement, contracts management, invoice and staff expenses handling fully leveraging cloud and mobile working. The Purchase-to-Pay process from sourcing products & services to paying suppliers Source Purchase Order Receive good/service Process invoice Monitor & Report Pay Purchase Your business needs products and services Pay s need to be paid

4 Across the four key areas of challenge for your finance and procurement operations, Canon Purchase-to-Pay offers specific benefits that will simplify and streamline processes, make your staff more productive and enable you to make faster, better decisions. Visibility Control Get real insights for better decisions Not having the right information at your fingertips is frustrating for finance and procurement professionals. Lack of transparency can also encourage poor behaviours and leave your organisation exposed to risk. Getting key data in your line of sight will remove the frustrations and wasted time and help you take the first step towards better decision making. Finance will require a more consistent and current view of the cash-flow position, rather than piece this together from disparate systems and having to chase a paper trail Procurement will need to have a greater insight into supplier contracts to check service levels and terms or to understand particular supplier competencies Improve processes and business relationships Control of your company s purchasing and accounting processes is vital, so that you can free-up valuable time and resource to focus on achieving strategic goals. Ineffective cash control, poor match rates for invoices or too much manual document handling wastes valuable staff time. Meanwhile, working with poor supplier data and not having a clear procurement policy can lead to poor supplier relationships. Getting a smoother process can reduce the noise in your organisation and let your staff get on with more satisfying jobs. Finance will require better processes, be that increasing the number of invoices matched to POs, or increasing the ratio of electronic invoices in relation to paper Procurement will need to identify and coral maverick spenders and bring their behaviours back in line with purchasing policies

5 Cost Security & Compliance Achieve savings and add to profits In the end it comes down to money. While we all strive for business growth, we know that savings can make all the difference to ongoing success. How will you achieve your savings goals over the next 12 months? Whether your organisation s saving goals will come from supplier rationalisation, re-negotiating contracts or from operational efficiencies, you will find that Purchase-to-Pay automation solutions can help you achieve your savings goals across the piece. Finance will want to make savings from efficiencies that bring down transaction costs and turn finance from a cost centre to a profit centre Procurement will want to get beyond the continuous churn of squeezing savings from suppliers and move towards real strategic savings and even revenue generation Reduce risk and unnecessary disruption Your organisation is legally required to present accurate and legally complying transactions, so automating your procedures to minimise errors and maximise compliance is the best way forward. Additionally, meeting internal policies and supporting better governance can improve productivity and morale across the business. One in five invoices has errors or missing data (Canon/RS Consulting, 2011). Fraud risk is also increased in the purchaseto-pay cycle, since this is where the money flows. If you do not have automated checks and balances, you are increasing your organisation s exposure to fraud. Finance will want to be audit-ready and compliant with legislation Procurement will want to ensure that your organisation is working with approved suppliers and that your buyers respect procurement policies

6 Purchase-to-Pay: perfecting the process An end-to-end Purchase-to-Pay automation solution means making smarter financial and procurement decisions, improving spend and cash-flow management. gives better procurement, spend control and cash-flow visibility Source Purchase Order Receive good/service Process invoice Monitor & Report Pay Process Expense Engage supplier and agree terms Process an order with a supplier Acknowledge receipt following delivery Receive paper / e-invoice, automate workflow and approval, PO matching etc Monitor entire P2P process stages and produce tailored reports Resolve queries and approve payment to the supplier Single platform for unified governance across procurement & finance Contract Buyer Invoice Dashboard Portal Expense Keep track of your suppliers contracts be reminded when they need action Manage purchases and data to achieve spend control Focus your expertise on the deviations from the norm Control the entire P2P process, live, as it happens Control the entire P2P process, live, as it happens Control the entire P2P process, live, as it happens

7 Why Implementing Canon s Purchase-to-Pay is easier than you think Despite what Purchase-to-Pay automation has to offer, including lower transaction costs, reduced lead times and streamlined workflows, some organisations can sometimes feel excluded from these benefits. Some of your suppliers may resist adapting, or you may feel that a P2P system is too big to be a viable investment for your business. But Purchase-to-Pay automation has changed. Canon s solution has been described by other customers as: Flexible modular architecture, so you can deploy individual applications, or phase them step-by-step Affordable multiple pricing options, including subscriptions, to best meet your needs Easily integrated working with the equipment and software you already have in the office Intuitive web-based intuitive user interface installed with minimal need for training Mobile use the system on-the-go, off-site or away from the office, from any internet enabled device Servicing & Deployment You don t have to be left on your own to work through the implementation. Canon s business solutions team can make life easier by offering: SaaS, hosted and on-premise options to allow you to best match your IT goals Consulting services to identify, design and implement tailored P2P automation strategy Managed services options available to achieve further benefits Getting started Canon s Business Process Consultants are experts in helping our customers reduce costs, minimise risk and grow sales by streamlining key business processes. We start by trying to understand your business your current processes, people, premises and systems. Before talking about a P2P solution, Canon s consultants work through any one of three steps, so that we know we can design the right solution for your organisation. Business need qualification. Live solution demonstration or proof of concept. Process audit. About Canon For Information Management Canon Information Management solutions are built on more than 75 years experience in developing innovative technology to capture, process and deliver documents and images. By allowing any type of organisation to take control of their critical information, our expertise in facilitating efficient working practices empowers customers across Europe to deliver exceptional customer experience, gain competitive advantage and meet regulatory compliance. Added value with Clearer visibility Better control Easier compliance Greater security More cash

8 Canon Inc. canon.com Canon Europe canon-europe.com Canon Europe Ltd 3 The Square, Stockley Park Uxbridge, Middlesex UB11 1ET United Kingdom English Edition Canon Europa N.V., 2014