Presentation Transcript

1. Leverage Your Invoice Processing Investment in KC/KTM with Exciting New Kofax Technologies Dermot McCauley VP Solutions Product Marketing
2. Session Agenda Invoice Processing – Benchmarks, Challenges & Priorities Extend Your Invoice Capture Capability Improve Your Invoice Processing Workflow Conclusion / Q&A
3. Invoice Processing - How Good is Current Practice? Invoices processed monthly Monthlycost Best-in-Class (20%) 10,000 $30,900 $3.09 3.8 days Industry Average (50%) 10,000 $156,100 $15.61 9.7 days Laggards (30%) 10,000 $387,700 $38.77 20.8 days Source: Aberdeen Group, Invoicing and Workflow: Integrating Process Automation to Enhance Operational Performance (May 2011) Cost & time to process one invoice
4. Challenges in Invoice Processing Process delays and costs Supplier pressure More efficient channels and formats to submit invoices. “Was my invoice received?” “Is my invoice correct?” Invoices received in multiple locations, time delays and risk routing Invoices for processing AP department productivity Compliance and control Regulatory pressure, lack of control and visibility and lost early payment discounts Labour intensive and error prone manual activities (data entry, exception handling,..)
5. Invoice Processing – What’s Needed?
6. Why automate Invoice capture and processing? Top Pressures 55% Need to reduce invoice processing costs Need to improve visibility into invoices 51% Need for better cash management 24% Improve process and remove inefficiencies 14% Actions Needed Automate invoice receipt/workflow processes 62% 31% Integrate e-payables solutions w/other systems 29% Centralize A/P processes 27% Standardize Invoice receipt and work flow processes 27% Conduct internal assessment of current A/P capabilities Source: AberdeenGroup
7. Leveraging Your Invoice Processing Investment Further with Kofax Extend Your Invoice Capture Capability Invoice Data Extraction & Validation Multichannel Capture, including Mobile Capture Improve Your Invoice Processing Workflow For SAP & Oracle ERP users – Kofax MarkView For other ERP users – Kofax BPM

8. Expanding Your Invoice Capture Capabilities

   Kofax Capture & Transformationfor Invoice Processing
9. Kofax Multichannel Invoice Capture and Transformation Supplier A Buyer EDI via VAN/FTP ERP System VAN Connector VAN Connector Invoice Capture & TransformationClassification,Extraction, Validation Best Practice “Multichannel” means... Process Paper Excellently, as job #1 Also Accept Electronic Formats Efficiently Offer Migration Path to Electronic for Your Suppliers Ingest ALL invoices through a STANDARD process Supplier B ERP System e-Doc Integrate to Invoicing Workflow Email Outbox Email Inbox Electronic delivery (2-3 sec) Supplier C ERP System Postal service(3-5 days) Print Post Open and prep Scan
10. Automatically Extract Data to Avoid Rekeying, Error & Delay Supplier Header Invoice date Invoice number Order number Order date Line items Item code Quantity Unit price Total Description Amounts Sub-total & Total Taxes Shipping/freight Discounts & Currency
11. Find the Supplier!
12. Kofax Supplier Detection: Step 1
13. Kofax Supplier Detection: Step 2 To Kofax Supplier Detection
14. Kofax Supplier Detection: Step 3 Supplier: PC Mall Business Solutions Vendor ID: 33333 City : Los Angeles Match Result To Kofax Supplier Detection
15. Smarter Line Item Matching The PO details are in the ERP system, so what’s the problem?! Line item order is different Descriptions and item codes on the invoice do not match those on the PO Invoice spans multiple POs Partial invoice
16. Verifying the Match Match / no match Invoice Data PO Data
17. Extending Your Invoice Capture to Mobile Devices Production Capture is a highly efficient assembly line Kofax Mobile Capture is an Extension… Capture Recognition Validation Export … that maintains secure chain of custody
18. Kofax Mobile Capture for Invoice Processing Quality, Security and Cost Efficiency on Mobile Device Document Capture Image quality is improved automatically on the mobile device Images do not reside on the mobile device Images are compressed before transmission, to minimize bandwidth costs
19. Kofax Mobile Invoice Capture – Links to Your Workflows Extend your existing Invoicing processes and systems to the mobile device Business Rules Process Flows Security Configuration
20. AIIM Survey Which of the following would be the most important aspects of a remote/mobile capture deployment for you? Security! “Kofax leads the capture segment” The Forrester Wave™: Multichannel Capture, Q3 2012 2012 AIIM Survey: Distributed and Mobile Capture – moving the process closer to the customer

21. Adding Best Practice Invoice Approval Workflows

    Kofax MarkView for Oracle & SAP – now includes Mobile!
22. MarkView at a Glance – Invoice Processing & AP Capture Automated Entry Review & Resolve Coding & Approvals Payment Audit A Complete Product for End-to-End Invoice Processing in SAP & Oracle Environments Secure Document Management Productized Workflow ERP Integrated Image/document capture and IDR with Kofax Transformation Modules™ Document viewing and annotation Extremely granular role-based security Proven Best practice based Configurable; not a custom ‘one-off’ Not just AP documents or invoices Real-time, all the time for Oracle & SAP Certified, ‘upgrade proof’ Single source of truth; no data duplication
23. Invoice Capture and Entry integrated to Best Practice Workflows Capture Entry MarkView Best Practice Accounts Payable Workflows Inputs Classification Data Transformation
24. “One Click to approve” client for Approvers “One click” thin client Configurable for different MarkView users: Finance and Line of Business Simple email prompt for approval pending alerts Drop down menus to manage account codes Complete invoice history Slide 24
25. Version 8.0 - MarkView Goes Mobile Mobile MarkView Full MarkView capabilities for invoice review, discrepancy resolution and approval Secure & consistent with desktop capabilities Kofax Mobile Capture™ Capture expense receipts, invoices, more Image perfection with VRS Integration with existing Kofax services (capture, expense management accounts payable)
26. MarkView Solution Capture Entry Review & Resolve Coding & Approvals Payment Audit Manual Entry Manual Entry AP Performance Management with MarkView AP Advisor Paper Fax XML Email Supplier Network Self Service Invoice Real-time ERP Integration Context Sensitive Workflows PO Non-PO … Automated Entry Automated Entry with KTM Image Automatically Attached with Kofax Capture Image Automatically Attached Self Service for Suppliers with Kofax SupplierExpress
27. Kofax SupplierExpress – Self Service Portal for Suppliers Self Service Portal for Suppliers Reduces AP process costs through supplier self-service For routine supplier interactions Invoice submittal, payment status Reduces invoice capture and entry costs Faster invoice processing Reduces errors Reduce supplier maintenance effort and costs
28. MarkView AP Advisor – Actionable Insight on AP Performance Unifies AP & ERP data to drive real-time alerts Monitors AP Performance in real-time Pay accurately and on time Optimize cash resources
29. MarkView ERP Integration: SAP or Oracle EBS Real time integration with ERP Single source of truth Integrated user interface No duplication of ERP features or data Leverage ERP’s security and hierarchy Leverage ERP investment Real-time visibility from capture to audit

30. Adding Best Practice Invoice Approval Workflows

    Kofax Business Process Management (BPM) Workflow Excellence in Invoice Processing for non-SAP and non-OracleEBS Environments
31. Leveraging Kofax BPM for Workflow & ERP Integration Capture Automated Entry Review & Resolve Coding & Approvals Payment Audit Managing Invoice Processing Workflow in non-SAP & non-OracleEBS Environments Invoice Capture & Review Productized Workflow Open ERP Integration Image/document capture and information extraction with Kofax Transformation Modules™ Document viewing and annotation Manual correction of extracted information, if needed Best practice based Workflow configuration without software coding – using visual BPM process modeling Disciplined process and security management Creation & tracking of workflow action(s) Built-in BPM integration framework Flexible integration for ERP and other LOB systems
32. Kofax BPM Provides Adaptable Best Practice Invoicing Workflows Combining 400+ Years of Kofax In-House AP Experience and track record of 1,000+ AP customer implementations
33. Invoicing Workflow – Delivered on Kofax BPM Capture Automated Entry Review & Resolve Coding & Approvals Payment Audit Coding Post Approval Approval Rejection Payment Audit Invoice Creation in ERP Auto Header & Line Item Entry, and/or Manual Line Item Entry Rejection Review Reassign for Approval Manual Invoice Approval Approval Rule & Threshold Mgt Manual Correction “Who did what when” audit logging Automatic approval hierarchy enforcement Visual AP process models for compliance review Rule-based sampling for review Release of Holds Manual Line Item Entry Invoice Creation in ERP Invoice Data Change Handling Approval Restart
34. Kofax BPM – Creating Invoicing Workflow Actions Capture Automated Entry Review & Resolve Coding & Approvals Payment Audit Creating Actions in the Invoice Processing Workflow Throughout the AP process, empower Users to“Create Actions”, specifying the resource needed to complete the action and the expected duration of the action Actions include: Route to Purchasing Request Comment Supplier Maintenance Return to Supplier
35. Kofax BPM – Invoice Escalation Management Capture Automated Entry Review & Resolve Coding & Approvals Payment Audit Managing Escalation in the Invoice Processing Workflow Monitor invoicing performance and drive escalation to save time and cost Configure escalations to meet your organization’s needs. Examples of time and/or cost based escalations Kofax can drive: Email reminder to approver Email remind to approver and supervisor Reassign approval task to supervisor
36. Leverage Your Invoice Processing Investment Further with Kofax Extend Invoice Capture Capabilities Invoice Data Extraction & Validation Multichannel Capture, including Mobile Capture Improve Invoice Processing Workflow For SAP & Oracle ERP users – Kofax MarkView For other ERP users – Kofax BPM AP Solutions Market Leader Trusted on AP by 1,000+ AP departments Comprehensive, end-to-end solution from a single vendor Acclaimed by independent analysts

37. Questions from the Audience?

38. For further information, please contact: Dermot McCauley VP Solutions Product Marketing Phone: +44 7734 877796 Email: Dermot.McCauley@Kofax.com