examining truths and myths of modern automation …...october 15-17, 2019 | westin kierland resort |...

October 15-17, 2019 | Westin Kierland Resort | Scottsdale/Phoenix, AZ

Examining Truths and Myths of

Modern Automation Tools

True AP Automation

and How to Love the Invoice Again


©2019 Symbeo ℠

Global Enterprise AP | Symbeo is a cloud technology and services company providing global invoice solutions for large P2P environments.

Symbeo-sis | Symbeo balances the right blend of people, technology and process to deliver the highest value possible. We let technology decide when it needs human support. We continuously adjust these dials to achieve the most efficiency. This is our operational masterpiece.

Mythical vs. True Automation | Symbeo dispels the myths of antiquated products and best practices and serves the enterprise with true, modern and touchless automation for accounts payable.

More Than Automation, Bigger Than AP | Symbeo goes beyond automation to address unique nuances and real-world problems. Symbeo helps accounts payable evolve into a strategic intelligence hub that positively impacts many critical functions of the organization.

Experience Matters | Symbeo always starts with YES. We believe in giving our customers the best experience possible. With nearly 30 years in business and 18 years focused completely on accounts payable, Symbeo is the gold standard invoice automation solution in the global P2P ecosystem.

Learn to love the invoice again.


Christy Brewer

VP, Global Sales and Ecosystem


Agenda

o Understanding the Myths | Limitations of modern tools

o Keeping the Promise | True automation for AP

o A Case for True Automation | Driving success

o More than Automation | The best AP can be

o Bigger than AP | Delivering value to the organization


©2019 Symbeo ℠

E-

invoicing

Average organizations still

receive

55% of their invoices manually*

In-House OCR

Low raw data capture accuracy,

reject/repair work for AP team,

Only 26.6% straight through processing*

Scan and

Capture

AP must still review and

correct most documents,

no cost reduction

BPO

Offshore labor

arbitrage, lift and

shift, 1980s model.

no visibility or control

In-House RPA

RPA does not improve a

bad process. Only

performs consistent

structured operations;

cannot address

complexities and nuances

of most AP processes

The Myths of AP AutomationStand-alone tools or services typically used without cohesive processes or human oversight.

Are these the answers?

* Source: Ardent Partners’ Accounts Payable Metrics that Matter in 2019


Balanced with people and process, technology advancements can be helpful…but not the answer alone.

Robotics Process Automation

o Replicates an already inefficient process repeating flawed steps over and over

o Used without operational expertise, can cost more than manual process

o Only performs consistent structured operations; cannot address complexities of most AP

processes

o Use RPA selectively where it is valuable in a repetitive PART of the process

Artificial Intelligence and Machine Learning

o AI presents new decisions from historical data to predict new answers for humans to validate

o ML teaches the system to apply those decisions going forward

o Risk - can introduce errors and false answers to your process if not managed with careful

process

o Used jointly with experienced people and processes, it can reduce cost

o Use both carefully to lift your process, but not to replace it

Technology Buzz | It’s Not All Good…or Bad


©2019 Symbeo ℠

True AP Automation | Touchless. Trusted.

The perfect balance of technology, processes and people.

o Touchless | 80% + straight through processing of manual invoices with no AP touch

o E-invoice | Solutions that complement and supports electronic transformation

o Capture | Paper, fax, PDF, email invoices should have 99.5% + data accuracy

o PO header and line matching | 95% + matching success

o Business rules | AI, machine learning, RPA used in balance to serve human process (not as

individual tools)

o Human review | Operators that make objective, goals-based decisions

o Global centralization | All manual invoices; broad range of countries

o Bridging the gap | Manual invoices behave and perform like electronic invoices

o Custom solutions | Nimble, agile capabilities to serve the large enterprise

o Focus | Laser-focus on accounts payable


You are Unique

Baseline Product

Baseline Legos Customization


©2019 Symbeo ℠

Business Case | Sample Case Study

*Source: Ardent Partners’ Accounts Payable Metrics that Matter in 2019**OneSource Virtual, The Hidden Costs of OCR

INVOICE AUTOMATIONIN-HOUSE OCR/BPOAP EFFORT INVOICE TO PAY


©2019 Symbeo ℠

Automation Success | Be The Hero

1. Balance the right blend of people, technology and process.

2. Let technology decide when it needs human support.

3. Continuously adjust these dials to achieve the most efficiency.

4. Don’t just use a tool or a standalone service.

5. Find a complete expert solution that does all of the above.

People

Proces

s

Technology


Love the Invoice: More than Automation

Automation itself is not the goal

It’s how to achieve the goal

Employee morale is

on the rise

AP is freed from manual

tasks

No more duplicate invoices

Centralized AP creates real visibility and

control

AP is now a strategic part of

our P2P transformation

Our suppliers

are happier

We’re aligned with other

functions of the enterprise


Love the Invoice: Bigger than AP

Sourcing

Procurement

eInvoicing

Mail & Scan

Capture

Validate

AP Workflow

Payment

DynamicDiscount

SupplyChain

Finance

Supply Chain

SuppliersTreasuryFinanceProcurementRequestors &Approvers

Visibility for supplier financing

Invoices paid on time, predictable

Supplier escalations eliminated

Automated coding &approvals

Improved supplier relations

Centralized, low cost,highly accurate


©2019 Symbeo ℠

The Love is Back in Your AP Department

No More Paper, Highly Automated

Happier, Productive Employees.

Scalable Accounts Payable Department


©2019 Symbeo ℠

Spread the Love to Your Entire Organization

Improved Relationship with Suppliers,

Requestors and Approvers

Finance is in Control: Lower Costs &

Centralized

Visibility for Supplier Financing

$


In 2 yearsAP Departments will have functional

collaboration with other departments*

In 5 yearsAP Departments will serve as an

intelligence hub for spend, finance and cash insights*

*Ardent Partners’ Accounts Payable Metrics that Matter in 2019

examining truths and myths of modern automation …...october 15-17, 2019 | westin kierland resort |...

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