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HES Finance Systems Network Case Studies in University Finance Readsoft:ProcessIT

HES Finance Systems Network Case Studies in University Finance Readsoft:ProcessIT. Tracey Hodgkin Manager, Accounts Payable & Receivables QUT, Corporate Finance Dept 5 March 2013. Overview.

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HES Finance Systems Network Case Studies in University Finance Readsoft:ProcessIT

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  1. HES Finance Systems Network Case Studies in University Finance Readsoft:ProcessIT Tracey Hodgkin Manager, Accounts Payable & Receivables QUT, Corporate Finance Dept 5 March 2013

  2. Overview • QUT implemented an Accounts Payable automation system for managing the scanning and transfer of AP documents in 2007. • The implementation comprised two key products: ReadSoft Invoices and ReadSoftInvoiceIT. • QUT made the decision to upgrade Oracle Finance System from our current Version 11.5.10 to Version R12. Due to be implemented in Sept 2013. • ReadSoftno longer support InvoiceIT - decision on a scanning solution • QUT through a Planned Procurement approach and evaluation process - ReadSoft were successful in providing a solution with a product called ProcessIT.

  3. ProcessIT • End to End solution, including data capture, archiving and workflows: • Handles the processing of invoices via scanning to posting and archiving in Oracle EBS • The solution has 3 components: • Invoices - data capture • ProcessIT – archival and workflow • Reporter – reporting functionality

  4. Invoices - Data Capture Scanning: • Invoices scanning software automatically sorts the document by buyer, supplier, country and invoice type • Profiles for invoice types have been established to assist the AP operator’s manual workload and automatics invoices routing Interpret: • Interprets data from the image and classifies the invoice. The Supplier and PO are validated from Oracle E-Business suite • This is a process that can be setup without manual intervention Verify: • Verify allows AP processor to correct verify the data with the invoice image Transfer: • Automatically transfers invoice image and data to Oracle E-Business suite Optimise: • Used to refine and fine tune the capture process for supplier invoices

  5. ProcessIT - Features Archiving: • Data capture and scanned image are transferred to ProcessIT • database • Data and image is also captured in Oracle E-Business – Accounts • Payable module • Search functionality: • ProcessIT has a search capability to identify any invoices processed • via Invoices. This includes deleted or incomplete workflows.

  6. Scanning GE Invoice Verify & Transfer Capture & Interpret PO Invoice Accounting & Approval ProcessIT - WorkFlows • Invoices • ProcessIT

  7. ProcessIT Invoice Workflow

  8. ProcessIT Workflows • Approval Workflows: • GE Invoices: • Based on Oracle Purchasing heirarchy • Oracle cross validation and GL segment rules • Account codes as defined in Oracle EBS

  9. ProcessIT Workflows • Approval Workflows: • PO Invoices: • Distribution lines automatically matched • Auto approval if PO lines are identified • Supports Oracle Accounts Payable matching holds

  10. Reporting Reporter: • Provides various reports for management and end users to retrieve information on every invoice • Supports drill down functionality to provide greater levels of detail and to pinpoint problems in the workflow • Consists of tables, graphs and charts to monitor invoice processing efficiency throughout the entire Accounts Payable process, user performance, invoice status and more • Number of pre-defined reports provided within this tool Note: this is an additional module not included in standard ProcessIT suite and comes with additional license costs.

  11. Help Tools ProcessIT Assistant: • Instant information on how to use ProcessIT applications (new feature)

  12. Help Tools ProcessIT: Search Tool

  13. ProcessIT -Improvements • Improvements: • Improved screen look and feel • Ability to route invoices where vendor not created to Vendor Officer and • once created continue the workflow (no longer an overnight process) • Invoices can be set up to auto approve or manual verification according to • configuration setup

  14. ProcessIT -Improvements • Improvements: • Improved Reminder notifications to users and escalation process • Improved accounting flexfield selection for coding invoices • Vacation rules can be setup by user – no longer a central AP function • Pre-approve PO’s and insert freight and misc amounts to default accounts • Users can reroute GE invoice to PO invoice, match ProcessIT workflow • Establishment of PO rules improved • Payables User Interface to correct errors/invoices within Superuser • Improved document history of changes throughout the workflow process • Tax is not coded in ProcessIT – managed by tax engine during invoice • import process • New functionality for Mobile Phone Installation – Approvers only

  15. Issues • Issues for consideration: • Prepayments - process management requires further consideration • Data Migration – all workflows must be “complete status” before migration (includes Superuser) • Tolerance levels for PO Matching/Line distributions • Users capacity to release PO match holds within ProcessIT • Users capacity to match invoices to PO within ProcessIT

  16. Questions ?

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