SUPPLIER INVOICE WORKFLOW EINVOICE Efficient automated workflow 2010 IFS

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Alban Manning
8 years ago
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2 SUPPLIER INVOICE WORKFLOW EINVOICE Efficient automated workflow THOMAS PETERSON LEIF JOHANSSON SENIOR ADVISOR - FINANCIALS BUSINESS SOLUTIONS CONSULTANT

3 AGENDA SUPPLIER INVOICE WORKFLOW How can we benefit from Supplier Invoice Workflow? Company Supplier Authorization Rules Purchase Order and Supplier Invoice Process Improved Process Flows Remote Authorization 3

4 SUPPLIER INVOICE WORKFLOW WHY DO WE NEED A BETTER PROCESS Need a better / more cost-effective way of handling supplier invoices: Handling supplier invoices is one of the most time consuming and costly administrative processes in a company or an organization today Each invoice can cost USD 50 or more to handle Cumbersome in a decentralized organization Risk for late payments and unnecessary interest costs Risk for poor control Undefined or unclear authorization rules Hard to find old invoices 4

an organization today Each invoice can cost USD 50 or more to handle Cumbersome in a decentralized organization Risk for

5 DOCUMENT AUTOMATION Replaces manual handling of all documents Increases efficiency Saves money Saves time Creates flexibility and dynamics Increases data quality and enhances the quality of working processes Improves security and traceability 5

Creates flexibility and dynamics Increases data quality and

6 BUSINESS DRIVERS Companies looking for solutions to facilitate: New efficient organization models, e.g. networks Service centers Outsourcing projects Electronic business and information exchange Compliance, e.g. SOX 6

7 ACCOUNTS PAYABLE Manual Payments IFS PURCHASING PO Receipts PO Milestones Sub Contract Applications Enter Supplier Invoice Payment via file, document or checks Automatic Payments IFS Invoice IFS Payment Queries GENERAL LEDGER ACCOUNTING RULES Reports 7

Payment via file, document or checks Automatic Payments IFS

8 COMPANY SETUP

9 COMPANY SETUP POSTING PROPOSAL 9

10 COMPANY SETUP PO MATCHING 10

11 COMPANY SETUP POSTING PROPOSAL 11

12 COMPANY SETUP SUPPLIER INVOICE WORKFLOW 12

13 SUPPLIER SETUP

14 SUPPLIER 14

15 AUTHORIZATION RULES

16 AUTHORIZATION RULES 16

17 PURCHASE AND INVOICE PROCESS

18 EXAMPLE 1 - PO RECEIPT PRIOR TO INVOICE ENTRY

19 PURCHASE ORDERS Line 1 Line 2 Line 3 19

20 SUPPLIER INVOICE ENTRY SUPPLIER SENT INVOICE FOR LINE 1 ONLY 20

21 POSTING PROPOSAL 21

22 POSTING AUTHORIZATION 22

23 EXAMPLE 2 INVOICE PRIOR TO RECEIPT

24 PURCHASE ORDERS CONTINUATION FOR LINE 2 AND 3 Line 1 Line 2 Line 3 24

25 SUPPLIER INVOICE ENTRY SUPPLIER SENT INVOICE FOR LINE 1 ONLY 25

26 POSTING PROPOSAL UNBALANCED NO RECEIPT TO MATCH 26

27 PURCHASE ORDER RECEIPT LINE 2 AND 3 ARE RECEIVED 27

28 MATCH INVOICE WITH NEW PO RECEIPT TYPICALLY THIS IS A SCHEDULED JOB 28

29 POSTING PROPOSAL IFS RE-PROCESSED THE INVOICE AGAINST RECEIPT 29

30 FULLY AUTHORIZED AUTOMATICALLY AFTER MATCHING PROCESS 30

31 IMPROVED AUTOMATION

32 ENHANCED SUPPLIER INVOICE WORKFLOW CONCEPT - PROCESS Requisition/ Purchase Order Invoice/Goods Arrival PO Matching Payment Approval Invoice Import/ Manual Entry Posting/ Authorization IFS

33 SCANNING SAMPLE IFS

34 ENHANCED SUPPLIER INVOICE WORKFLOW Invoice Import / Enter Adjust/Authorize Automatic Match/Auth. Posting Proposal File Improves and automates supplier invoice workflow Reduces manual invoice registration - saves times & increases accuracy Effective follow up using automated messaging and history logging IFS

35 ELECTRONIC SUPPLIER INVOICE TEXT FILE FOR EXAMPLE FROM READ-SOFT OR VENDOR Batch process most common 35

36 SUPPLIER INVOICE WITH ATTACHED INVOICE RESULT OF LOADING THE FILE INVOICE & SCANNED COPY 36

37 INVOICE COPY IN DOCUMENT MANAGEMENT 37

38 POSTING PROPOSAL AUTHORIZED BASED ON RULES AND WORKFLOW 38

39 OPTION TO BRING IN XML DATA LINE LEVEL MATCHING CAPABILITIES 39

40 SUPPLIER INVOICE WITH LINE DETAIL MATCHING 40

41 POSTING PROPOSAL WITH LINE LEVEL DETAILS 41

42 AUTHORIZATION RULE APPLIED TO LINE LEVEL DETAILS 42

43 REMOTE APPROVAL

44 B2E BUSINESS TO EMPLOYEE OPTION TO APPROVE INVOICES OVER THE WEB 44

45 B2E BUSINESS TO EMPLOYEE NOTIFICATION IN APPLICATION, WEB OR 45

46 ASTRA - READSOFT

47 E-INVOICING 1. Definition 2. Different Types 1. EDI 2. XML 2. Broker 4. /PDF 3. Advantages of E-Invoicing Saving Time & Money Environmental Concerns SOX Compliance

48 ADVANTAGES & DISADVANTAGES 1. EDI Usually good for high volumes but difficult to implement and maintain. 2. XML Again, usually good for high volumes but standards need to be met between supplier and buyer that can be complicated and can often change 3. /PDF Simple, short set up time, user familiarity 4. Best Practices 5. Where does ReadSoft fit in?

49 INVOICES: INPUT TYPES incoming documents Administration INVOICES Manager paper Production image & data image PDF Scan COLLECTOR image/pdf Interpret Interpretation tuning Verify Optimize Transfer Target system

50 WHAT IS COLLECTOR? Objective

51 COLLECTOR FACTS 1. Is a plug-in for INVOICES 2. Ability to import and convert office documents (word and excel) into images* 3. Can communicate using MAPI or IMAP configurations 4. Able to set body as an appendix to the invoice image 5. Integrates directly into Interpret Scan not needed

52 THANK YOU FOR ATTENDING!

53 THIS DOCUMENT MAY CONTAIN STATEMENTS OF POSSIBLE FUTURE FUNCTIONALITY FOR IFS S SOFTWARE PRODUCTS AND TECHNOLOGY. SUCH STATEMENTS OF FUTURE FUNCTIONALITY ARE FOR INFORMATION PURPOSES ONLY AND SHOULD NOT BE INTERPRETED AS ANY COMMITMENT OR REPRESENTATION. IFS AND ALL IFS PRODUCT NAMES ARE TRADEMARKS OF IFS. THE NAMES OF ACTUAL COMPANIES AND PRODUCTS MENTIONED HEREIN MAY BE THE TRADEMARKS OF THEIR RESPECTIVE OWNERS IFS

E-invoices. What they are. Different types. Best practices for implementation. R E A D S O F T W H I T E P A P E R

E-invoices. What they are. Different types. Best practices for implementation. R E A D S O F T W H I T E P A P E R R E A D S O F T W H I T E P A P E R E-invoices What they are. Different types. Best practices for implementation. This whitepaper describes different types of e-invoices, discusses what the differences