Business Process Services. White Paper. Touchless Procure-to-Pay Processing: The Robotics Way
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1 Business Process Services White Paper Touchless Procure-to-Pay Processing: The Robotics Way
2 About the Author Pradeep Kumar Kalaimani Pradeep Kumar Kalaimani leads the Finance Center of Excellence for global CFO operations within the Business Process Services (BPS) unit of Tata Consultancy Services (TCS). He has been managing transformation and digitization initiatives for multiple nancial services clients for the last eight years. Drawing upon 18 years of experience, Kalaimani helps deliver business value for nance and accounting customers and plays a critical role in the consolidation of the nance market leadership. He is a certi ed Six Sigma Master Black Belt, driving the implementation of quality management systems and process improvements globally for internal and external customers. Kalaimani holds a Master's degree in Business Administration and is also a certi ed Quality Manager from the American Society of Quality.
3 Abstract An effective accounts payable function can contribute strategic business value to an enterprise. While CFOs had attempted to revamp the AP organization by using enterprise resource planning (ERP) platforms, Optical Character Recognition (OCR), Intelligent Character Recognition (ICR), Electronic Data Interchange (EDI), and other technologies, these initiatives often did not yield the anticipated results. With mounting pressure to reduce costs and achieve greater pro tability, CFOs are counting on emerging technologies such as robotics to bring transformative changes in the payables function. This paper examines the role of robotics in automating key transactional procureto-pay processes, and the cost and efficiency bene ts it delivers by leveraging systemic controls and well-de ned business rules. Robotics can be combined with highly con gurable work ow and data extraction solutions to enable data structure automation, faster approval and exception resolution, and effective vendor discount management. By driving standardization and reducing manual errors, RPA eventually leads to greater productivity, better returns, and improved vendor relationships.
4 Contents Modernizing the Accounts Payables Function with Robotics 5 A Look at Robotics in Action in P2P Processes 5 Common Pitfalls in Procure-to-Pay Processes 6 Robotic Process Automation to the Rescue 7 Streamlining Invoice Processing 7 Simplifying Invoice Exceptions Management 8 Making the Most of Invoice Discounts 8 Gaining More Control over Vendor Data 9 Tomorrow is Here: Gearing up for Intelligent Autonomics 11
5 Modernizing the Accounts Payables Function with Robotics CFOs across industries are on a mission to build lean accounts payable (AP) functions that enable strategic business value for enterprises. For many years, AP organizations functioned in silos and leveraged manual processes that often resulted in inefficiencies, errors, and lack of visibility into operations. The result? Accounts payable was perceived predominantly as a cost center. However, increasing globalization and competition forced CFOs to reimagine AP as a strategic function that contributes to overall business objectives. Automation emerged as the key enabler of such a shift. CFOs have tried to automate and streamline processes by leveraging ERP platforms, OCR tools, EDI, e-invoicing, purchase order (PO) flip, vendor portals, and other bolt-on solutions. However, these initiatives often failed to deliver true business value, as they did not address the basic issues underlying the payables function. CFOs are now looking beyond traditional automation to robotic process automation (RPA), also known as autonomics, to close the gap between expected and desired results. By mimicking human actions at the user interface level and interacting with multiple applications, RPA provides advanced automation capabilities for organizations that currently have a manual procure-to-pay process (P2P) cycle. Deploying it in combination with relevant tools, technology, and platforms helps businesses effectively reengineer the procure-to-pay process. This will help AP organizations drive reduced costs, improved efficiency, greater on-demand scalability, regulatory compliance with smooth audit trails, and real-time visibility into operations. In essence, RPA can help address many of the basic issues in the procure-to-pay process, laying the foundation for a touchless end-to-end AP process. A Look at Robotics in Action in P2P Processes RPA can be used across the procure-to-pay cycle. It leverages configurable computer software or robots that work on multiple AP processes by interacting with systems and applications including ERP systems, documents, and databases through virtual machines and specific logins. They operate as a virtual backoffice processing center, automating repetitive, rules-based processes that are prone to human error. Three questions play a key role in identifying P2P processes that are suitable for robotic automation: 1. What is the degree of robotic automation possible? This can be classified as low, medium, and high. 2. What is the potential speed of execution? This depends on the current process maturity, the level of technology intervention deployed in the process, and dependency on human effort and judgment. 3. How much value will RPA generate? This can be categorized as low, medium, or high. 5
6 Figure 1 indicates that transactional P2P processes such as vendor master data management and invoice processing offer greater opportunity for robotics deployment with a higher degree of automation and high speed of execution. Processes that require a set of business rules and exceptions fall in the medium category of adoption, since these need artificial intelligence. It is more difficult to use robotic process automation for processes that are analytical and call for greater human discretion. However, certain aspects of such processes can be managed by robots with some human intervention. For instance, enterprises can deploy human touch points alongside robots to effectively manage vendor relationships. Supplementing RPA with smart vendor communication can help businesses quickly and intuitively resolve some of the persistent issues related to non-po invoices. Robotics can be applied by integrating a repository tool with the ERP solution to store invoice and PO data, and enable automated posting of non-po invoices after business units update their service entries. 4 Invoice Processing Vendor Master Speed of Robotics Automation Issue Resolution Payment Run Vendor Reconciliation Invoice Exceptions Speed of execution Travel and Expense Propensity in terms of % effort reduction 1- Low 1- <10% 1- Low Value bubble size 2- Medium % 2- Medium 3- High 3- >30% 3- High Propensity Towards RPA % Effort Reduction Figure 1: Suitability of RPA for P2P processes (TCS internal research) Common Pitfalls in Procure-to-Pay Processes In order to unleash the power of RPA, enterprises first need to understand the underlying issues associated with P2P processes. We discuss some common challenges below. Lack of standardization: Invoices may be in different formats handwritten or printed invoices, faxes, and PDFs attached in s. This makes it difficult to validate inputs and quickly process invoices that match the PO. Inconsistent and unstructured data: AP organizations typically handle large volumes of varying and inconsistent data and documents across the lifecycle from PO generation to invoice receipt and approval. This leaves them with the tedious and repetitive task of transferring the data to a standard and 6
7 structured format, increasing the risk of errors. Process inefficiencies: These may include missing vendor codes or data discrepancies between POs and non-po invoices. Another impediment to efficiency is the presence of a manual approval process that leads to delays, and in some cases, increases vulnerability to fraud through the possibility of postapproval modifications. For non-po invoices, approval with the general ledger (GL) code and cost center becomes critical for timely and correct payment to vendors. Without effective process discipline, enterprises struggle to ensure 'first time right invoicing.' The result is an increased number of exceptions, requiring time and research for effective resolution. Exceptions are typically triggered due to data that does not conform to standards or mismatch with other data (price, quantity variances being top contributors of invoice exceptions) and there's an underlying need to use of specialized workflows for routing approvals, setting dynamic tolerance limit to negate price/quantity variances and ensure no/minimal follow-up actions for timely invoicing. Manual, error-prone controls: In a manual set up, the effectiveness of AP processes depends on the team's discipline, skill sets, and experience. The use of manual controls instead of systemic controls increases the chances of making duplicate, wrong, delayed, or excessive payments. Reactive process fixes: Most AP organizations resort to reactive fixes by deploying a dedicated team or a process owner to manage ageing invoices, delayed payments, and increased vendor queries. However, permanent and proactive fixes to the upstream processes in the vendor master system are essential to address persistent P2P problems. This ensures that price, quantity, and tax variances are addressed. Robotic Process Automation to the Rescue Many transactional and rules based processes can be easily automated to drive greater efficiency and accuracy. Let's explore how this can be done. Streamlining Invoice Processing Invoice processing involves receiving the invoice, indexing key fields, and posting the invoice in the ERP or legacy system through three way or two-way match between the PO, invoice, and goods received note (GRN) for PO and non-po based invoices respectively. These data entry processes can be easily automated. In order to apply robotics, it is essential to first migrate manual invoices to e-invoices. Manual touch points are then replaced by robots to handle invoice receipt and allocation, and ensure accurate processing to achieve first time right invoicing. By enforcing well-defined business rules at a granular level, RPA drives effective automation. Enterprises also need to invest in robust supplier education programs to drive standardization of invoices across geographies and vendors supporting different lines of businesses. If standardization is not viable, enterprises must equip robots to collate invoice data across different modes of invoices. Robotic automation components such as data extraction tools that are based on OCR and ICR technologies can be used to meet this need. Using tools that help read manual or e-invoices reduces dependency on manual data entry. Enterprises can leverage identified patterns of picking data fields in invoices that are 7
8 referenced to 'proto invoice models'. The proto invoice model allows vendors to enter data in predefined fields of proto invoices and generate invoices automatically based on the nature of supplies and invoice category. Digital workflow solution tools play a key role in streamlining invoice processing. Paper invoices can be scanned via the FTP server, mail, file or share folder. Multiple printed or e-invoices can be captured at a line item level, and sequentially allocated to robots for greater efficiency. Furthermore, a combination of several tools such as desktop automation, navigator, and script tools help post data extracted from multiple sources to the ERP. The approval activity can also be simplified through rules based, auto-approved, workflow criteria limiting human involvement to specific approval situations. Robotics can thus minimize and eventually eliminate approval delays, leading to higher efficiency and timely payment to vendors. Simplifying Invoice Exceptions Management Exceptions are one of the top reasons for late payments, higher operating costs, and unhappy customers. Pre-defined rules are typically used to check and remove invoices from the ERP system based on exceptions that may range from lack of funds and price or quantity variance to PO mismatch and nonexistent vendors. The primary reasons for high exceptions are non-standardized practices and nonautomated processes that cause slowdowns and errors. Rapid automation helps address this complex issue by enabling the deployment of tighter upfront controls such as a dynamic tolerance limit for quantity variances. However, AP functions should not fail to analyze the top reasons for increased exceptions at a granular level. Robotic cognitive intelligence, if applied systematically, can be used to differentiate, learn, and build invoice exception patterns. A robust RPA solution can be used for real-time monitoring of invoices to flag exceptions for rule reviews and fraud detection. Well-defined redistribution rules can be designed to identify and escalate exceptions to employees with the right skill sets. Enterprises can further address the root of the issue by educating suppliers on best practices to reduce mismatch and streamline invoice data. Making the Most of Invoice Discounts By effectively utilizing vendor discounts, enterprises can not only gain cost savings but also enhance vendor relationships. Robotic automation components can be used in conjunction with the ERP workflow to quickly track and process vendor discount invoices. RPA helps streamline vendor invoices and enables enterprises to avail all available discounts through faster scanning, indexing, and processing. Robotics can be used to design robust AP controls at every stage of the process within the ERP or design the bolt-on workflow to drive better process compliance and discipline. However, it is important to evaluate and fix the failure of controls that halt or slow down processes to ensure that robots function independently over time. In the example listed below, robots with business rules can be used to gather relevant data from the invoice in predefined formats. In addition to that, robots with Artificial Intelligence can be used for invoice exceptions that require analysis (such as issues related price or quantity variances). A pre-defined list of business rules can be used to re-route invoices for early or timely payments to avail 100% of invoice discounts. 8
9 Figure 2 provides a comprehensive picture of how RPA transforms invoice processing, exceptions management, and vendor discount management processes. Invoice Processing, Exceptions, Discounts Receive vendor invoice in physical /scanned form Ensure 2/3 way match with PO/invoice/ GRN Identify exceptions and reasons Research and analyze exceptions Benefits of RPA Before RPA After RPA Finalize list of invoices to be paid & make payments Organization receives scanned invoice copy in work ow System checks for dynamic discounting and makes payments Approve invoices and update details in ERP system OCR updates invoice data in ERP and does 3-way match Matched records are approved and pushed to payment queue Verify vendor details remittance, discount terms Matched records are automatically updated in ERP Work ow based query resolution is done for unmatched records Contact procurement team to resolve issues Organization pulls exceptions and analyzes reasons Invoices are automatically updated in ERP Reduction in cycle time from invoice receipt to payment 100% use of vendor discounts 100% accuracy and on-time payment Increased vendor satisfaction Reduction of human dependency/manual efforts Effective query management/reduction in vendor queries Robots built with business rules Robots built with Arti cial Intelligence Figure 2: The potential impact of RPA on invoice processing Gaining More Control over Vendor Data AP functions need to focus on fixing upstream master data processes of vendor master, PO management, and the Purchase Receipt (PR) to PO cycle rather than downstream processes involving invoice and payment. The vendor master creation process starts when a request is received for vendor code creation along with a set of input documents. Vendor maintenance entails managing details such as change in address, banking details, or payment terms based on business volumes. Robotics plays a critical role in these upstream processes. Rapid automation leverages business rules and linkages across other processes to help set up upstream processes accurately, identify differences effectively, and ensure timely fixes right at the time of creation. By drawing upon a highly automated flow of structured data between buyers, the AP function, suppliers, and third parties such as scanning vendors, enterprises can drive robust reporting, analytics, and decision-making. 9
10 Here is a breakdown (as shown in Figure 3) of how robotics can be used to streamline vendor data management: Creating standard template, vendor portal, input requests: A standard vendor request template is required to extract data and create vendor code in the ERP using robotics. It is also essential to follow a structured process to provide the option of receiving input requests in different forms and modes. This will enable robots to pick all the relevant data fields. Evaluating and reviewing critical input documents: Setting up RPA with a workflow or document solution with extracts allows robots to check critical parameters containing defined business rules. Alerts can be triggered for exceptions, ensuring accurate and timely setup of RPA. Updating records: Requests for change in vendor records can be sent through specific templates used for creation, indicating the nature and type of change. These can be updated by robots quickly, resulting in the maintenance of an updated vendor database. Invoice Vendor Master Maintenance Receive Request on for new vendor creation Manually update data in ERP Call/ vendor for queries Benefits of RPA Before RPA After RPA Perform monthend reporting Receive request in work ow for new vendor setup Generate monthend reports Delete vendors from database Verify vendor details, updated directly by vendors Perform system validation & generate list of unused/duplicate vendors Check unused/duplicate vendors lying in database Verify and identify exceptions and send s Vendor replies in work ow, attaches documents 100% consistent, reliable, and accurate vendor master records Improved turnaround time for creation and maintenance of vendor master with real-time updates Reduction in query management timelines Increased vendor satisfaction levels Robots built with business rules Figure 3. A breakdown of how RPA streamlines vendor master creation and maintenance 10
11 Tomorrow is Here: Gearing up for Intelligent Autonomics The stage is set for robotics to play a bigger role in the P2P process cycle. As AP processes continue to mature at a rapid pace, they will greatly benefit from the growing breed of robotic solutions. The next wave of transformation will see automation extend beyond transactional to high-end processes such as generation of exception triggers and subsequent resolution, reporting, and decision-making support. From merely automating repetitive work, RPA will gradually enable the human workforce to work smarter by enhancing their creative problem solving abilities. Enterprises will thus be able to achieve business benefits beyond cost savings. New capabilities such as payment reviews and authorizations via mobile devices will further evolve, complementing the advantages offered by robotics. The most important result of robotic automation is the generation of large volumes of process data. While robotics reduces inefficiencies, data analytics will empower enterprises to deliver greater business impact by discovering and applying smarter insights. This means enterprises must anticipate a data rich scenario and be prepared with relevant skill sets and expertise to gain real value from information. The adoption of robotics in the AP organization is largely dependent on senior leaders' interest in incorporating robotics as an integral part of their vision for the organization. As they include robotics as one of their top business priorities, senior management will need to enable and support change management across the enterprise. The success of this technology as of all transformation initiatives hinges on the collective cooperation of internal and external stakeholders. It also depends on an enterprise's commitment towards making essential changes to processes and practices, and its ability to establish strong process and data governance. 11
12 About TCS' Business Process Services Unit Enterprises are looking to drive sustainable growth and profitability, and stay relevant to their customers in increasingly regulated, competitive, and global markets. TCS fosters proactive and strategic partnerships with its clients to achieve these goals. TM Our ValueBPS approach helps enterprises achieve significant and sustained business outcomes by TM leveraging our deep domain expertise and operations redesign methodologies such as FORE. Our approach also encompasses robotic process automation (RPA), analytics and insights, our unique IT- BPS synergy, Business Process as a Service (BPaaS) models, and business process management (BPM). TCS' Business Process Services include core industry-specific processes, analytics and insights, as well as enterprise services such as finance and accounting, HR, and supply chain management. Our cross-industry solutions ensure faster realization of business value. TCS has consistently been recognized as the leader in various service lines by leading analyst firms. Contact For more information about TCS Business Process Services Unit, visit: ( bps.connect@tcs.com Subscribe to TCS White Papers TCS.com RSS: Feedburner: About Tata Consultancy Services (TCS) Tata Consultancy Services is an IT services, consulting and business solutions organization that delivers real results to global business, ensuring a level of certainty no other firm can match. TCS offers a consulting-led, integrated portfolio of IT and IT-enabled infrastructure, engineering and TM assurance services. This is delivered through its unique Global Network Delivery Model, recognized as the benchmark of excellence in software development. A part of the Tata Group, India s largest industrial conglomerate, TCS has a global footprint and is listed on the National Stock Exchange and Bombay Stock Exchange in India. For more information, visit us at IT Services Business Solutions Consulting All content / information present here is the exclusive property of Tata Consultancy Services Limited (TCS). The content / information contained here is correct at the time of publishing. No material from here may be copied, modified, reproduced, republished, uploaded, transmitted, posted or distributed in any form without prior written permission from TCS. Unauthorized use of the content / information appearing here may violate copyright, trademark and other applicable laws, and could result in criminal or civil penalties. Copyright 2016 Tata Consultancy Services Limited TCS BPS Design Services I 03 I 16
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