Recording: https://www.dropbox.com/s/p62hekx2tnkea13/2013-10-10%2014.01%20Stop%20Thinking%20About%20it%20and%20Automate%20Your%20AP%20Processes.wmv
Speakers:
Henry Ijams, Managing Director of PayStream Advisors
Peter Bepler, President and Co-Founder of Anybill
You think about automating. You might even have meetings about automating. Well, the time has come to stop thinking about it and to make it happen. If you think your company might be too small to automate, think again.
So, how do you get started? Attend our 50 minute webinar to get your burning questions answered about how to begin the automation process. Off the heels of PayStream's recently published report on Automating Payables for the Small to Medium Enterprise Market, we're here to offer you valuable tools and ideas to help get your project kicked off.
Join us as the presenters discuss:
-Current landscape of AP departments in the US
-How to create an effective business plan with realistic ROI
-Challenges and barriers to your automation goals
-What the innovators are doing
Call Girls Near Delhi Pride Hotel, New Delhi|9873777170
[Webinar] Stop Thinking About It and Automate Your AP Processes
1. 1
Stop
Thinking
About
it
and
Automate!
Henry
Ijams
–
PayStream
Advisors
Peter
Bepler
–
Anybill
Evelyn
Benne;
–
Lincoln
Trust
1
2. 2
Henry
Ijams
Henry
Ijams
Managing
Director
PayStream
Advisors,
Inc.
Mr.
Ijams'
28
years
of
experience
focuses
on
trends
and
technologies
in
financial
operaOons
automaOon
including
strategies
regarding
the
automaOon
and
benchmarking
of
Purchasing,
Order
to
Cash,
and
Payables
processes.
Through
PayStream
Advisors,
Mr.
Ijams
consults
with
domesOc
and
internaOonal
organizaOons
that
want
to
take
advantage
of
leading
pracOces
and
automaOon
soluOons.
When
he’s
not
running
to
catch
an
airplane,
Henry
can
be
found
racing,
biking
or
swimming
on
the
roads
and
lakes
of
North
Carolina,
his
adopted
home.
Thankfully
his
kids
are
used
to
the
excessive
energy
that
Henry
and
his
wife
display
for
outdoor
exploits.
Henry
has
an
MBA
from
the
University
of
North
Carolina.
His
wife
is
not
impressed.
Today’s
Presenter
3. 3
Today’s
Guest
Faculty
Peter
Bepler
Peter
Bepler
President
and
Co-‐Founder
Anybill
Peter
directs
Anybill’s
business
strategy,
focusing
on
the
company’s
markeOng,
sales,
channel
partners
and
communicaOons.
As
a
co-‐founder,
he
plays
a
key
role
in
developing
the
Anybill
soluOon
and
championing
accounts
payable
automaOon
for
the
SMB
market.
Before
co-‐founding
Anybill,
Peter
was
Director
of
Business
Development
for
UniverseONE,
Inc.,
a
pioneer
of
online
markeOng.
There
he
developed
and
implemented
web
markeOng
strategies
for
clients
and
spearheaded
the
development
of
online
markeOng
best
pracOces.
Peter
holds
a
Bachelor
of
Arts
degree
in
Economics
from
Kenyon
College.
In
his
free
Ome
he
enjoys
jumping
out
of
helicopters.
4. 4
PayStream
Advisors
Research
and
Advisory
Services
for
Financial
OperaAons:
-‐ E-‐Invoicing
-‐ AP
AutomaOon
-‐ P2P
Peer
Benchmarking
-‐ Electronic
Payments
-‐ T&E
Expense
Management
-‐ Receivables
Document
Management
-‐ eBilling
-‐ PayStream
P2P
Summit
www.paystreamadvisors.com
5. 5
Agenda
• Current
landscape
of
AP
departments
• Benefits
of
automaOon
• How
to
create
an
effecOve
business
plan
• How
to
get
buy-‐in
• What
the
innovators
are
doing
6. 6
0%
10%
20%
30%
40%
50%
60%
70%
80%
AP
AutomaAon
AdopAon
Rate
by
Industry
6
*
AutomaOon
adopOon
rates
by
company
size
have
been
esOmated
based
on
PayStream’s
surveys
on
Imaging
automaOon,
eInvoicing
and
ePayments
with
total
number
of
response
of
more
than
1,000.
Market
adopOon
rate:
46%
Below
average
adopOon
7. 7
Pain
Points
with
Invoices
Source:
Invoice
AutomaOon
Benchmarking
2012
Q:
What
are
the
biggest
challenges
your
organizaOon
faces
in
the
invoice
management
process?
8. 8
InvesAgate
the
Benefits
Build
the
Business
Case
Overcome
the
Barriers/
resources
Becoming
Empowered:
Before
you
can
begin
your
project,
you
need
to
speak
the
language
of
your
Controller/CFO.
Build
the
business
case
for
your
project.
9. 9
• Are
you
buried?
• Do
you
see
a
way
out?
A
LiNle
Overwhelmed?
10. 10
Overcoming
Stuck
• Share
the
Benefits
• Develop
a
Business
Plan
• Overcome
the
barriers
11. 11
Best
PracAces
in
Transforming
AP
• Centralize
receipt
/
payments
þ
• Scan/Automated
entry–
✓
or
ý
• Approval
Workflow
–
✓
or
ý
• Automated
Payments
ý
12. 12
InvesAgate
the
Benefits
Build
the
Business
Case
Overcome
the
Barriers/
resources
StarAng
Your
Project:
• Step
1:
Measure
your
opportuniAes.
• How
many
invoices
does
your
organizaOon
process?
• How
many
payments?
• What
does
it
cost
you
to
process
an
invoice
and
payment?
• Take
advantage
of
resources
like
PayStream’s
free
research
reports
and
Cost
Per
Invoice
Calculator
• Next,
compare
your
costs
with
automaAon
costs.
• What
your
cost
per
invoice
opportunity?
• Simple
Savings
Opportunity
Method:
• Average
Cost
for
AP
to
Process
an
automated
invoice:
<
$3.50
(vs.
Avg
Paper
Cost
$6.83)
• Average
Cost
for
AP
to
Process
an
automated
payment:
<
$2.00
(vs.
Avg.
Check
Cost
$5.50)
13. 13
InvesOgate
the
Benefits
Build
the
Business
Case
Overcome
the
Barriers/
resources
Following
Through
With
Your
Project:
Now
that
you
have
an
idea
of
how
much
you
could
be
saving
your
organizaOon….
• Step
2:
Research
the
SoluAons
Market
• Which
sooware
is
right
for
your
organizaOon?
• What
makes
one
soluOon
different
from
another?
• Does
it
make
sense
to
manage
invoice
scanning
at
your
company?
• Bonus
offer:
Use
PayStream’s
business
case
builder
14. 14
InvesOgate
the
Benefits
Build
the
Business
Case
Overcome
the
Barriers
How
do
you
build
a
Bullet
Proof
business
case?
• Step
3:
Gain
ExecuAve
Buy-‐In.
• Share
the
results
of
your
baseline
business
case
and
research
with
your
internal
leaders,
and
volunteer
to
become
the
project
lead
during
implementaOon.
15. 15
AP
AutomaAon
Savings
CalculaAng
how
much
AP
costs
you
today
Acme
Catalog
employee
labor
costs
are
allocated
in
the
table
below.
Fully
loaded
employee
costs
assume
28%
average
overhead
for
fringe
benefits.
Sample
Company
Business
Case
Acme
Catalog
Sales
of
“Hazardous
Goods”
MS
Dynamics
• 4,000
invoices/Month
• 6
Staff
in
AP
• 1
Supervisor
• 1
Manager
• 3,200
Checks/month
16. 16
AP
AutomaAon
Staff
Savings
16
CalculaAng
how
much
AP
costs
you
today
Acme
Catalog
employee
labor
costs
are
allocated
in
the
table
below.
Fully
loaded
employee
costs
assume
28%
average
overhead
for
fringe
benefits.
The Cost of Acme Catalog’s Current Accounts Payable
Process
Processing
Mail
Entering
Data
Managing Exceptions
and Providing
Customer Service
Vendor Master
Management
Payment
Processing
AP Staff
Oversight Total
Full Time
Equivalents
0.75 1.8 1.9 0.25 0.45 0.15 5.3
Names
Danny &
Mary
Danny, Annie,
Anna, Mary &
Rob
Annie, Anna, Mary, Oscar,
Rob
Annie, Anna, Mary,
Oscar, Rob
Annie & Oscar John
Annual Cost
of Labor
$34,300 $108,735 $117,585 $15,728 $28,620 $20,625 $325,593
Acme
Catalog’s
best
automaAon
opportuniAes
17. 17
InvesOgate
the
Benefits
Build
the
Business
Case
Overcome
the
Barriers/
resources
Overcoming
Obstacles
to
Lead:
• Many
AP
technologies
cost
tens
of
thousands
of
dollars
and
IT
resources
to
implement.
• But
not
all…
• InnovaAve
providers
offer
simple,
low
cost
technology
that
requires
minimal
resources.
• Lack
of
Ame,
budget,
and/or
resources
is
no
longer
a
valid
excuse
• What’s
holding
you
back?
18. 18
Find
OperaAonal
and
Strategic
Value
Strategic benefits Operational benefits
90-95% reduction in
paperwork and manual
processing
Improved transparency
and spend visibility
25-35% improvement in
labor productivity
Eliminates lost invoices,
late payments
~2% of revenue in bottom
line savings from indirect
spend control
$100’s+ of early payment
discount opportunity
20. 20
Guest
Faculty
Evelyn
Benne;
Lincoln
Trust
Evelyn
has
over
twenty
years
of
experience
in
general
ledger
accounOng,
financial
reporOng,
budgeOng
and
forecasOng
as
a
Senior
Accountant
and
Financial
Analyst.
At
Lincoln
Trust
Company,
Evelyn
provides
a
full
range
of
accounOng
support.
Lincoln
Trust
is
a
leading
naOonal
provider
of
trust
and
custodial
services.
When
she
is
not
working,
Evelyn
and
her
husband
enjoy
traveling
in
their
RV.
Evelyn
is
a
CerOfied
Public
Accountant.
Evelyn
Benne3
21. 21
Case
Study:
Lincoln
Trust
Metrics
• AccounOng
System:
Microsoo
Dynamics
SL
• Average
number
of
Invoices
per
month:
130
• Average
number
of
vendors
paid
per
month:
95
Challenges
• Previously
relied
on
paper
invoices
and
manual
processing
for
invoice
management
• AccounOng
staff
spent
45
hours
per
week
processing
50-‐60
invoices
SoluAon
• Automated
their
AP
with
Anybill
which
increased
efficiency
and
visibility
in
their
AP
process
Results
• Frees
their
staff
from
mundane
tasks
• Provides
clear
and
complete
visibility
throughout
their
AP
process
• 24/7
access
to
real-‐Ome,
acOonable
data
anyOme,
anywhere
• Slashes
processing
Ome
and
errors
22. 22
Anybill
Overview
Company
• Based
in
Washington,
DC
• Founded
in
2001
• 1,500+
Clients
• SAS
70
Type
II
|
SSAE
16
(SOC)
CerOfied
• Local
Service
Bureau
&
Customer
Service
Team
• Provides
end-‐to-‐end
AP
AutomaOon
and
Tax
Payment
SoluOons
Service
• Streamlines
and
automates
the
AP
process
to
maximize
cash
management
and
increase
financial
controls.
• Takes
everything
from
the
receipt
and
capture
of
an
invoice
on
the
front
end
to
the
approval
and
payment
on
the
backend.
• Combines
sooware
and
outsourcing
to
reduce
the
cost
of
invoice
receipt,
processing
and
payment.