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Best-in-class companies report 91% lower invoice processing cost… are you one of them?. Brian Hrabovsky Oracle Specialist Deniz Kuypers Western Regional Manager. Top Pain Points in the AP Process. Accounts Payable Automation. - PowerPoint PPT Presentation
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ReadSoft 2006
Brian HrabovskyOracle SpecialistDeniz Kuypers
Western Regional Manager
Best-in-class companies report 91% lower invoice processing cost… are you one of them?
ReadSoft 2006
Top Pain Points in the AP Process
ReadSoft 2006
Accounts Payable Automation
ReadSoft 2006
There are ways to get financial data into Oracle EBS without manual keying
Time and money can be saved by automating the P2P process
Automation includes:– Capturing the image and the data– 2-way & 3-way matching – Exception handling– Invoice coding and approvals
Strengthen the four pillars of Accounts Payable:– Efficiency– Cycle time– Control– Visibility
Learning Points
ReadSoft 2006
What Is the Vision for AP Optimization?
Leverage best practices in Accounts Payable Centralized receipt of invoices, regardless of
format (scan, fax, email) Leverage existing Oracle infrastructure and
business rules Auto matching capability PO-based invoices Improve cycle times with integrated
workflow/account coding Leverage early pay discounts Centralized visibility, control and reporting
ReadSoft 2006
Typical Results of Process Optimization with ReadSoft
Reduction of manual data entry is generally 50 – 75% Cycle time can be reduced to 2 – 4 days More visibility and control of processes, outstanding
liabilities and cash flow Significant time savings due to less time spent:
– handling vendor calls– resolving issues– verifying non-PO information– chasing down approvals, etc.
Average Return on Investment of 6 – 12 months
ReadSoft 2006
Market Share - Global leader of AP process efficiency– End to end solutions for financial processes– 6,000 customers around the globe– 3,500 customers using our financial solutions for Accounts Payable– Processing over 400 million financial documents annually– Wider range of customers by volume
Legitimacy - Data Capture & workflow solutions are – Fully Oracle-certified– Seamless integration with Oracle EBS
Security– Established in 1991– Publicly Traded– 485 Employees in 16 Subsidiaries– $85 Million Annual Revenue
ReadSoft Leadership in the Automation of Financial Processes
ReadSoft 2006
Thoroughly tested and approved by Oracle Operates inside your familiar Oracle environment
using standard interface and workflow Oracle continues to support your EBS
implementation as well as continuing to guarantee the security of your Oracle environment
– ReadSoft solutions have ZERO impact on your current or future Oracle support agreements
An Invoice Optimization Solution Certified by Oracle
ReadSoft 2006
ReadSoft’s Global Presence
ReadSoft 2006
Customer Success Stories Vodafone
– Processed 50% more invoices in 2nd month after implementing ReadSoft
Kellogg’s– 50% of PO-based invoices go from Scan to Post untouched
Green Mountain Power– Enabled to take early payment discounts, greatly reduced
vendor calls, and majority of top vendors are now enabled to send PDFs instead of paper
Alcan– Significant reduction in manual processing, data entry, filing
and retrieval; majority of PO-based invoices automated Sheridan
– 3-month installation, including testing and go-live; able to negotiate significant discounts; able to process more invoices with fewer people; able to report in real-time on vendor spend
ReadSoft 2006
CompanySupplier
Payment
Supplier
PO Invoice
GE Invoice
Archive Approval & Accounting
Business Process
Invoice Scanning Paper
FAX
XML
Capture & Understand
Solution Overview
ReadSoft 2006
Why ReadSoft? 19 years of experience with installations around the
globe Largest customer base and market share in the
industry Only end-to-end solution provider for OCR + workflow Solution certified by Oracle Corp. and resides inside
EBS Bottom-line impact:
– Cost of manual keying eliminated– Cost and time of validation dramatically reduced– Cost of archiving reduced– Cost of late payment penalties eliminated– Early payment discounts available
ReadSoft 2006
Thank you!