#abbyysummit15 (9/10): accounts payable (ap) invoice approval workflows with flexicapture

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Technology Summit 2015 © Copyright 2015 ABBYY Technology Summit INVOICE APPROVAL WORKFLOWS Aaron Tyrrell, CEO, ScanStore #ABBYYSummit15

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TechnologySummit 2015

© Copyright 2015 ABBYY Technology Summit

INVOICE APPROVAL WORKFLOWSAaron Tyrrell, CEO, ScanStore

#ABBYYSummit15

TechnologySummit 2015Overview

● Invoice approval is the next step after data entry

● Multi-level approval required + audit trail

● Return on Investment (ROI)

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TechnologySummit 2015

CHALLENGESImplementing the Approval Workflow

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TechnologySummit 2015Workflow Challenges

1. 1-4 levels of approval required based on amount

2. Require approval on each invoice before next stage

3. Route to approvers based on department

4. Record each approver

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TechnologySummit 2015

SOLUTIONSImplementing the Approval Workflow

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TechnologySummit 2015Multiple Approval Levels

● “Approve” button marks invoice as approved

● Current user and time added to audit trail

● Approval groups based on departments

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TechnologySummit 2015Require Approval at Each Stage

● Rule auto-flags unapproved invoices in process

● Custom script stage clears flag between approvals

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TechnologySummit 2015Workflow Routing

● Lookup table links vendor to department

● Workflow rules based on $ amount

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TechnologySummit 2015

WORKFLOW DEMOThe Finished Product

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TechnologySummit 2015Workflow Demo

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TechnologySummit 2015

RETURN ON INVESTMENTMeasuring Success

TechnologySummit 2015Return on Investment

● Reduced processing times by 6 hours/day● Fewer clicks & faster loading● Data entry automated

● Lower management costs● 2 manager hours per week per department across 20 departments

● Faster payment processing● Fewer late payments and less overtime hours needed to catch up

● Verification station licensing makes workflow affordable

Total Savings:

● $75,000/yr annual savings vs. SharePoint workflow● $300,000/yr annual savings vs. paper-based workflow

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TechnologySummit 2015Invoice Approval Workflow Conclusions

● Approval workflow is a necessary step

● Challenges can be overcome creatively

● Provide a complete solution

● Significantly improve ROI#ABBYYSummit15 13

TechnologySummit 2015

QUESTIONS

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