QCards: Dynamics AX and Accounts Payable automation
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Learn how Accounts Payable automation in the New Dynamics AX saves you time and money.
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QCards: Dynamics AX and Accounts Payable automation
- 2. We discuss AP Automation Kevin Moore Senior AX Solutions Consultant Over 10,000 clients trust us International footprint with 60 of the Fortune 100 Experts in financial messaging, document automation, cyber and fraud management Top UK Microsoft Dynamics partner 2015 Distinguished Dynamics ERP and CRM solution provider: with over 608 years of combined experience Over 650 Dynamics implementations across multiple industry sectors Abaid Rana Pre-Sales Consultant FDA Chris Hopper Product Manager
- 3. AP Automation The challenges Speed Accuracy Cost Standard AX Manual invoice posting Manual GRN posting Manual attachment of invoice image The solution AP Automation 0 10 20 30 40 50 60 70
- 5. Locate p/o Invoice entry Confirm price GRN match Attach invoice Std AX Process
- 6. In summary The challenges Speed Accuracy Cost Standard AX Manual invoice posting Manual GRN posting Manual attachment of invoice image The solution AP Automation 0 10 20 30 40 50 60 70
- 8. AP getting lots of attention 35% of companies have made significant investments in AP automation 23% are currently evaluating the use of AP automation
- 10. Why Invest 0 10 20 30 40 50 60 70 Reduce overall processing costs Remove paper form AP department Accelerate invoice approval cycle times Improve cash management (early payment and late fines) Reduce Lost invoices Improve visability into spend Better invoice audit capabilities Obtain incremental supplier dynamic discounts Strengthen supplier relationships
- 11. Driving Down Invoice Processing Costs $0.00 $5.00 $10.00 $15.00 $20.00 $25.00 Best in Class Industry Average Laggard Cost per single invoice Cost per single invooice AP Automation users have costs 83% below those of their peers Source: Aberdeen Group October, 2013 32% of AP Managers do not know their cost to process an invoice Source: The Institute of Financial Operations, 2013
- 12. Paper Disrupts Processes Paper adds no value Slows processes down Prone to document loss Increases storage, filing, retrieval costs Reduces visibility Lack security and control Removing paper from processes improves productivity by 300% Source: AIIM “ “
- 13. Reducing Invoice Processing Time Source: Aberdeen Group October 2013 0.0 Days 2.0 Days 4.0 Days 6.0 Days 8.0 Days 10.0 Days 12.0 Days 14.0 Days 16.0 Days Best in Class Industry Average Laggard Days to process single invoice Days to process single invoice AP Automation users process 74% faster than their peers
- 14. Early Payment Discount - What’s It Worth? 2 / 10 net 30 payment terms 2% return for 20 day investment Turn AP department into a Profit Center
- 15. Number Of Invoices Per Full Time Employee (FTE) 0 5000 10000 15000 20000 25000 30000 35000 40000 45000 Non Top Pefrormer Top Performer Number of Invoices Number of Invoices Source The Hackett Group It is not difficult to find extremes outside of these under special circumstances
- 16. AP Automation helps enforce corporate policies and achieve contract compliance Ensuring invoices are processed in accordance with Procedures Policies Regulations Must support Sarbanes-Oxley (SOX) Regulatory Compliance Exception rates are 85% lower in companies that have employed AP Automaton Source: Aberdeen Group
- 17. demo
- 19. Thank you For a free consultation contact us +44 (0)20 7451 1200 info@quantiq.com QuantiQ Technology @QuantiQTech
- 20. Join us next month: Visual Scheduling with