readsoft - asug georgia - feb 2014
Post on 02-Jun-2018
219 Views
Preview:
TRANSCRIPT
8/10/2019 Readsoft - ASUG Georgia - Feb 2014
http://slidepdf.com/reader/full/readsoft-asug-georgia-feb-2014 1/15
FIND YOUR EDGE
Americas' SAP Users' Group
Best practices to optimize AP for improved processing in SAP
Margaux VourvouliasRegional Manager
Sheila CobbleSAP Specialist
8/10/2019 Readsoft - ASUG Georgia - Feb 2014
http://slidepdf.com/reader/full/readsoft-asug-georgia-feb-2014 2/15
Common issues and bottlenecks within AP
Customer stories
Best Practices and benefits of invoice processing
View automation inside of SAP
Learning Points
2
8/10/2019 Readsoft - ASUG Georgia - Feb 2014
http://slidepdf.com/reader/full/readsoft-asug-georgia-feb-2014 3/15
Slow and labor intensive data entry processes
Difficult and time consuming verification
Time intensive and ‘hand processed’ exception handling
Poor visibility and transparency into the entire process
Lost opportunities from delayed processing(like lost discounts)
Difficulty in measuring KPIs
Difficulty in analyzing the effectiveness of established processes
Challenges with incoming invoices
3
8/10/2019 Readsoft - ASUG Georgia - Feb 2014
http://slidepdf.com/reader/full/readsoft-asug-georgia-feb-2014 4/15
Accounts Payable Manager:
Eliminate inefficiencies in the invoiceprocess
Need better process visibility
Need better payment cycle time
Need more time for root cause analysis
Business issues driving SAP AP automation
8/10/2019 Readsoft - ASUG Georgia - Feb 2014
http://slidepdf.com/reader/full/readsoft-asug-georgia-feb-2014 5/15
SAP/Information Technology:
Simple to administer and upgrade
Fits corporate SAP IT strategy
Corporate Management: Lowest possible cost outlay
Visibility and control of liabilities
Accounting Accuracy
Audit-ability and SOX compliance
Business issues driving SAP AP automation
8/10/2019 Readsoft - ASUG Georgia - Feb 2014
http://slidepdf.com/reader/full/readsoft-asug-georgia-feb-2014 6/15
Reasonable EXPECTATIONS
Typical reduction of manual data
entry is 75% to 85%
Time-to-Pay - reduced from 20+ days to under 7 days Discount capture & late fees improved by 80%
Average Return on Investment of 6-8 months
Sources: ReadSoft, IAPP, ASUG, PayStream Advisors
8/10/2019 Readsoft - ASUG Georgia - Feb 2014
http://slidepdf.com/reader/full/readsoft-asug-georgia-feb-2014 7/15
Rich Products Corp.- 74% of PO based Invoices pass 3 way
match 1st time
- Discount Capture increased from
70% to 92%
8/10/2019 Readsoft - ASUG Georgia - Feb 2014
http://slidepdf.com/reader/full/readsoft-asug-georgia-feb-2014 8/15
- From 21 to 11 FTE’s while increasing
volume by 110,000 invoices
- Elimination of a very time consuming
100% audit
8/10/2019 Readsoft - ASUG Georgia - Feb 2014
http://slidepdf.com/reader/full/readsoft-asug-georgia-feb-2014 9/15
- Reduced average cycle time from 32 days to 6
- Reduced average error rate from 5% to .43%
- OCR read rate of up to 90%
- Improved D&B Credit score by 20 points
- Monthly Accruals reduced by $1 million
- 1099’s processing time reduced from 15 days to ½ day
8/10/2019 Readsoft - ASUG Georgia - Feb 2014
http://slidepdf.com/reader/full/readsoft-asug-georgia-feb-2014 10/15
Best Practice Recommendations
Centralize invoice receipt
Centralize control
Establish imaging early in the AP process
Complete & early visibility Eliminate redundancies Enable up-front duplicate checking
Capture data from the images
Eliminates hand keying (both header and line items) Leverage data for sorting and workflow
Intercept invoices and auto-post with minimum handling
Match and auto-post PO based invoices where possible Auto-route invoice exceptions and those requiring approval w/workflow
Leverage workflow to SAP users and those outside of SAP
Use SAP “real time” data validation to ensure accuracy
Leverage analytical data to manage and improve processes Spot trends and process bottlenecks Root cause of specific problems
8/10/2019 Readsoft - ASUG Georgia - Feb 2014
http://slidepdf.com/reader/full/readsoft-asug-georgia-feb-2014 11/15
Best-Practice Solution
PROCESS DIRECTOR FOR AP
INVOICES
PERFORMANCE ANALYTICS
WORK CYCLE
Paper
Fax
EDI
Upload
e-Invoicing
MOBILE APPROVAL
8/10/2019 Readsoft - ASUG Georgia - Feb 2014
http://slidepdf.com/reader/full/readsoft-asug-georgia-feb-2014 12/15
Improve control, decrease costs and manual work & streamline the order creation process within
SAP
Single point of entry to monitor the entire process and navigation to all relevant transactions
Allow users to handle the order process and exceptions where they are meant to be handled –
inside your SAP system.
A fully SAP certified Add-On from SAP release 4.6C to
ERP 6.0 with no modifications of SAP standard
Seamless integration with archive system (SAP ArchiveLink certified)
Reuse and optimization your existing SAP infrastructure = Low TCO
Why ReadSoft?
8/10/2019 Readsoft - ASUG Georgia - Feb 2014
http://slidepdf.com/reader/full/readsoft-asug-georgia-feb-2014 13/15
]
Thank you. For ongoing education in this area , visit www.readsoft.com.
Or contact me:
504.841.0128
Margaux.Vourvoulias@readsoft.com
8/10/2019 Readsoft - ASUG Georgia - Feb 2014
http://slidepdf.com/reader/full/readsoft-asug-georgia-feb-2014 14/15
Join ASUG or Learn About Your Membership Benefits
memberservices@asug.com
Stay in the Know, Subscribe to ASUG Newsletters
Visit asug.com/newsletters
Visit ASUGNews.com for independent, unbiased,
and customer-focused coverage of SAP.
TWITTER:
https://twitter.com/ASUG365
FACEBOOK:
https://www.facebook.com/ASUG365
LINKEDIN: http://www.linkedIn.com/groups/Americas-SAP-Users-Group-
ASUG-112172/about
Stay in Touch
8/10/2019 Readsoft - ASUG Georgia - Feb 2014
http://slidepdf.com/reader/full/readsoft-asug-georgia-feb-2014 15/15
Evaluate This Session
Provide feedback viathis short survey
bit.ly/ASUG14
Provide event feedbackin the same survey
top related