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Looking to streamline your Oracle payables process?

Looking to streamline your Oracle payables process?. Learning Points. Ways to get financial data into Oracle without manual keying Time and money can be saved by automating Automation includes: Capturing the image and the data 2-way & 3-way matching Exception handling

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Looking to streamline your Oracle payables process?

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  1. Looking to streamline your Oracle payables process?

  2. Learning Points • Ways to get financial data into Oracle without manual keying • Time and money can be saved by automating • Automation includes: • Capturing the image and the data • 2-way & 3-way matching • Exception handling • Invoice coding and approvals • Best practice concepts • Enable the four pillars of Accounts Payable: • Efficiency • Cycle time • Control • Visibility

  3. About ReadSoft Data Capture for Process and Transaction Management ReadSoft in a nutshell • Innovator since 1991 • 420 employees • Covers four continents • 16 subsidiaries • 5000 customers in 70 countries • The leading supplier with 16 percent of the international market Helsinki Oslo Stockholm London Helsingborg Copenhagen Paris Frankfurt Madrid Wroclaw New Orleans São Paulo Santiago Sydney

  4. ReadSoft presence in North America • Fastest growing subsidiary since 2004 • 670 customers • 350 AP installations • 55 employees CANADA Regional Offices North American Headquarters Chicago San Fransisco Boston Atlanta Philadelphia San Diego Phoenix New Orleans

  5. The First AP Optimization Solution Certified by Oracle • Thoroughly tested and approved by Oracle • Operates inside your familiar Oracle environment using standard interface and workflow • Oracle continues to support your EBS implementation as well as continuing to guarantee the security of your Oracle environment • ReadSoft solutions have ZERO impact on your current or future Oracle support agreements • Supports Oracle automatic version upgrades • Enables the four pillars of Accounts Payable optimization • Efficiency, cycle time, control, visibility

  6. About ReadSoft Number one in Invoice Process Optimization • Invented automatic invoice capture technology in 1997 • The longest and widest expertise in the business • The most installations worldwide (over 2500)

  7. What are the business issues that are driving Oracle Accounts Payable automation? • Accounts Payable Manager: • Eliminate inefficiencies in the invoice process • Need better process visibility • Need better payment cycle time • Need more time for root cause analysis • Oracle / Information Technology: • Simple to administer and upgrade • Fits corporate Oracle IT strategy • Corporate Management: • Lowest possible cost outlay • Visibility and control of liabilities • Accounting accuracy • Audit-ability and SOX compliance

  8. The Typical Oracle Accounts Payable Environment Status Calls Vendor Check Requests Processed & Sorted Mailroom Sufficient Data? 2or 3 way match? Hand keyed into Oracle Yes Post to Oracle AP Clerk No Hold Hold Non-PO Invoices Emails Phone Calls Folders GR • Many Inefficiencies • No Visibility • Low Control • Long Cycle Time • $$$$ Buyer Days/Weeks go by Stamped, Coded & Approved On Paper Code Approve

  9. Best Practice Concepts • Centralize invoice receipt • Centralize control • Establish imaging early in the AP process • Complete & early visibility • Eliminate redundancies • Enable up-front duplicate checking • Enable data capture and eliminate hand keying (both header and line items) • Leverage images for automated data entry, sorting and workflow • Intercept invoices and post before Accounts Payable • Match and auto-post invoices where possible • Auto-route invoice exceptions and those requiring approval w/workflow • Leverage workflow and extend to all users • Use Oracle data validation to ensure accuracy • Leverage analytical data to manage and improve processes • Spot trends and process bottlenecks • Root cause of specific problems (buyers, vendors, resort offices)

  10. Optimizing AP with ReadSoft Business Solutions for Oracle Coding Approvals Yes Yes Post to Oracle Non-PO PO Based Match? No No Auto route? Review Exception Handling Vendor Check Requests Scan Archive OCR Back- ground AP Clerk GR Buyer Code Approve

  11. Typical Results of Process Optimization • Reduction of manual data entry is generally 50 – 75% • Cycle time can be reduced from weeks to 2 – 4 days • More visibility and control of processes, outstanding liabilities and cash flow • Significant time savings due to less time spent: • handling vendor calls • resolving issues • verifying non-PO information • chasing down approvals, etc. • Average Return on Investment of 6 – 12 months

  12. Thank You! Questions?? Margaux.Lenoir@ReadSoft.com

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