Invoice Processing. Start today: Jump-Start Solution for Finance:

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1 2 Processing Reduce the cost of AP by automating approval of valid invoices and streamlining discrepancy resolution

2 Finance Professionals: The Big Picture & The Things You Can Address Today The Spend Control environment you really want one that minimises unauthorised and unnecessary purchases and reduces administrative effort while maximising savings across all spend categories requires the integration of two important sets of activities: Source-to-Contract functions that create value: supplier management, sourcing, contract management, and catalogue management Purchase-to-Pay controls that capture value: purchase authorisation, supplier and item selection, PO/invoice matching, and electronic trading A closed loop Spend Control environment delivers tremendous results. But it requires close collaboration between Finance and Procurement as well as buy-in from across the organisation. As a primary champion for cost savings within your organisation, part of your job is to educate others on both the concepts and value of Spend Control. It can take time to create the vision and put all the pieces in place. While the Source-to-Contract side of the equation is primarily the domain of Procurement, there are key elements you can address today so the Purchase-to-Pay side of the Spend Control equation is in place and operating efficiently as the rest of the pieces come together. SUPPLIERS We have created a range of s that enable you to focus on fast results for each of these specific areas: 1. Purchase Authorisation: Easy online submission and authorisation of all types of purchase requests, spend pipeline visibility and standardised capture of spend data 2. Processing: validation and PO matching, PCard statement processing and complex cost allocation 3. Electronic s: Electronic data capture or receipt of invoices using a variety of methods to match the capabilities of a wide range of suppliers 4. Employee Expenses: Easy online submission of employee expense reimbursement claims with automated processing and policy compliance checking This solution description for invoice processing describes how you can reduce the cost of AP by automating approval of valid invoices and streamlining discrepancy resolution. AGREEMENTS CATALOGUES PROACTIS s for Finance Supplier Management Sourcing Contract Management Content Management Purchasing Receipt Processing Employee Expenses Focus on fast results in a specific area A structured approach with supporting technology and expert assistance Deployment of standardised processes that guide employees, managers and Accounts Payable personnel through fast, efficient procedures that ensure compliance with corporate policies Automation of time-consuming routine tasks that will free up resources in Accounts Payable and improve productivity throughout the organisation Each solution is designed to help organisations with limited resources achieve fast, significant, sustainable results. Act now to take the steps you know are needed to enable true Spend Control for your organisation. 2 3

3 : PROACTIS Processing Reduce the cost of AP by automating approval of valid invoices and streamlining discrepancy resolution Accurate invoice payment is a fundamental aspect of sound financial management. In addition to ensuring proper invoice payment, the ability to reduce the cost of the Accounts Payable (AP) process is a significant benefit of effective Spend Control. Electronic invoice processing combined with electronic purchase request and authorisation make up the core of a modern purchase-to-pay system (P2P) system. Automated invoice processing enables a high percentage of both PO-based and non-po invoices to be automatically authorised for payment without the need for human intervention. It also eliminates payment of invalid or duplicate invoices, ensures proper cost allocation, speeds the process to leverage available early-payment discounts and avoid late payment fees, provides the visibility to improve budget and cash management, and captures a record of activity that enables better spend analysis and minimises audit costs. But many organisations find themselves today with a slow, labour-intensive Accounts Payable process where the majority of invoices are processed in paper form. In addition, too many are received with no supporting PO and/or receipt acknowledgement, so considerable time is required to locate a paper PO, or the requestor, and verify the invoice is valid. Complex invoices such as utility or telecom statements require a tremendous amount of effort to verify accuracy and allocate cost to different departments. Many invoices are never properly coded for either accounting or spend history purposes. Slow payment results in poor supplier relationships as well as added costs and surprise cash requirements. The result is that the organisation s cost base is higher than necessary due to: High cost of the Accounts Payable function Payment of duplicate and invalid invoices Late payment fees, lost early payment discounts, high audit costs Sub-optimal supplier pricing because of frustration with lost invoices, late payments and Procurement s lack of spend data when negotiating agreements The organisation also may experience financial surprises due to: Poor budget management because of inaccurate account coding and cost allocation Cash management problems because of poor visibility of in-process invoices and long authorisation cycles All of these issues and more can be addressed with today s well-developed eprocurement tools such as PROACTIS Purchase-to-Pay. Fast, efficient automated invoice processing can be a reality in your organisation within a short period of time using intuitive software solutions and proven deployment process from PROACTIS. Processing Tools for Processing The PROACTIS Processing has been developed to help organisations address this critical element of Spend Control. Using this solution you will quickly and efficiently put in place: Streamlined registration of both PO and non-po invoices to create electronic records (also consider the PROACTIS Electronic s at the same time or as a next step) validation and coding, including processing of complex invoices such as utility, telecom and PCard statements Matching of PO-based invoices with straight-through authorisation of matched invoices (requires P2P Purchase Authorisation to create POs) Discrepancy resolution workflows for both PO and non-po invoices Capture and reporting of detail history to reduce audit costs and enable spend analysis This solution combined with the PROACTIS Purchase Authorisation provides a comprehensive approach to rapidly and confidently deploying a complete purchase-to-pay environment that addresses all of your PO and non-po spend categories. The PROACTIS Processing provides a highly structured, efficient and cost-effective process for organisations to: Identify and prioritise invoice categories for automated processing Those requiring pre-authorised POs, scheduled payments and other non-po invoices, and statements requiring special processing (e.g. utilities and telecom, PCard) Prioritise invoice categories and organisational areas for initial focus Establish your standardised approach registration process Validation, coding and cost-allocation rules Matching rules and tolerances for PO-based invoices Roles and routing for discrepancy resolution and authorisation Educate stakeholders registration process (AP personnel) Discrepancy resolution (AP personnel, employees, suppliers) Launch automated invoice processing portion of P2P system Initial invoice categories and organisational areas with phased expansion Purchase-to-Pay (P2P) Software Validation & Coding 3-Way Matching Discrepancy Resolution Workflows Expert Services Configure Purchase-to-Pay (P2P) Solution Develop Electronic Workflows Guide Internal Education Process Assist With P2P Launch Ongoing Support Services Processing Additional Roll-out Assistance Tailored Training & Online Help 4 5

4 : Everything You Need to Act Now & Establish a Lasting Foundation The PROACTIS Processing includes comprehensive purchase-to-pay tools, expert start-up assistance and optional ongoing services. Implement P2P Purchase Authorisation to create electronic POs Identify & prioritise PO & non-po categories Identify authorisation rules and flows per category Configure P2P solution & workflows Educate AP, employees & suppliers Launch automated invoice processing Measure, improve & expand Comprehensive purchase-to-pay (P2P) tools PROACTIS will put in place the functional capabilities you need to establish automated invoice processing for both PO-based and non-po invoices. Utilising a business rules engine, specialised processing, 3-way matching, and electronic workflow, the back-end of PROACTIS Purchase-to-Pay has several important advantages: Comprehensive, best-in-class capabilities integrated with front-end purchase request, authorisation and PO generation Cloud or on-premise deployment The ability to easily grow into additional areas if desired (e.g. electronic trading, sourcing, supplier management, contract management, catalogue management) Expert start-up assistance PROACTIS Spend Control professionals will work with you and your team to perform all of the activities needed to develop your automated invoice processing capability. PROACTIS will: Help outline process flows for each type of invoice, as well as phased deployment Configure the PROACTIS P2P solution with your organisational and account structures, validation and coding rules, matching rules and tolerances and authorisation policies Develop electronic workflows for resolution of non-matched PO-based invoices and non-po invoices requiring manual authorisation Guide development of your internal education process Assist with the launch of your P2P system to your organisation With guidance from PROACTIS, your team will: Establish the invoice categories and organisational areas for which you will deploy the automated invoice processing portion of PROACTIS P2P Provide a definition of your organisational structure with roles and responsibilities, as well as policies for validation, cost-allocation, matching tolerances, etc. Lead your internal stakeholder education process Launch deployment of invoice processing with PROACTIS assistance Optional ongoing services You will probably want to use the PROACTIS Purchase Authorisation and Electronic s s in conjunction with this solution to round out your purchase-to-pay deployment. PROACTIS can even provide ongoing support services either for an initial period or long term. PROACTIS can work as an extension of your team to: Provide additional organisational roll-out assistance Develop tailored training and online help materials This combination of structure, technology, and professional resources delivers everything you need to get started now, realise rapid results and, most importantly, establish a lasting foundation for highly efficient automated invoice processing. 6 7

5 : How We Do It - The PROACTIS Smart Transition Approach The PROACTIS Processing is based on the PROACTIS Smart Transition approach designed from years of experience helping organisations deploy and use PROACTIS Spend Control solutions. Using this proven approach, you will: Fully realise the AP time and cost savings of automated invoice processing Speed time-to-benefit and maximise your ultimate ROI Establish a framework for continuous improvement supported by a practical set of process KPIs The Smart Transition approach consists of three key stages: Each stage is structured for rapid execution and efficient use of your team s time Preparation Laying the foundation for success Transition Optimisation Measuring, managing & growing results Visualise Rapid application configuration Realise Stakeholder-driven refinement Deploy Confident, broad adoption Preparation In the Preparation stage, we work with your organisation to lay the foundation for the success of your entire eprocurement deployment. The focus is on establishing a plan that connects the expectations of your executive team, based on the business case used to initiate your eprocurement deployment, with the time-phased activities that will be undertaken by the project team to achieve those objectives. Transition The transition from the current environment to the new environment is performed in three well-defined phases within a set timeframe. The transition process is designed to help you quickly experience PROACTIS applications within the context of your company using best practice process flows, then effectively engage representative stakeholders (i.e. employees, managers, suppliers) to refine those process flows to your unique environment. Optimisation In the Optimisation stage, you focus on continuously measuring, improving and expanding the results you have targeted. By measuring and managing to your established process KPIs, you focus on achieving the goals and benefits defined in your business case - e.g. policy compliance, savings, process time and cost reduction, risk reduction, etc. KPIs we will help you put in place to measure, manage and grow results after your initial jump-start include: s processed per FTE (and/or average cost per invoice) % invoices automatically matched and approved (processed straight-through ) % invoices sent outside AP for discrepancy resolution (goal is fewer) Average invoice processing cycle time (receipt to payment authorisation) % invoices with available payment discounts taken (or total discounts taken) % invoices requiring late payment fee (or total late payment fees) 8 9

6 : The Result Streamlined Processing Paper s Register paper invoices & receive electronic files Non-PO Code & allocate costs per business rules Workflow for authorisation if/as needed Release to Payment Electronic s PO Match PO within tolerance Workflow for discrepancy resolution The Benefits to Your Organisation Are Clear The benefits of automated invoice processing are significant: Hard savings Reduced cost of Accounts Payable (can be significant) Reduced payment of duplicate or improper invoices Reduced late payment fees Increased use and capture of early payment discounts Reduced audit costs Strategic benefits Improved budget and cash management Better data for spend analysis Improved supplier relationships The PROACTIS Processing helps you get there quickly and confidently. It provides you with: A structured approach that you can count on A fast approach that speeds results Expert assistance that ensures success An expandable toolset that can grow as you expand your Spend Control efforts Act Now Jump-start your invoice processing: Act now to take the steps needed to enable true Spend Control for your organisation. t: +44 (0) e: w: proactis.com 10 11

7 s 1 2 Purchase Authorisation Processing Simplify the purchasing process for employees and managers while ensuring compliance with corporate approval policies Reduce the cost of AP by automating approval of valid invoices and streamlining discrepancy resolution 3 4 Electronic s Employee Expenses Dramatically reduce paper handling and manual data entry to take even more time and expense out of invoice processing Speed expense reimbursement for employees while ensuring policy compliance and reducing administrative effort e: w: proactis.com PROACTIS 2014

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