Accounts Payable Process Automation for SAP and Oracle with MarkView 8.0

possehastyMechanics

Nov 5, 2013 (3 years and 10 months ago)

183 views

Derek Lisinski

Sr

Mgr
, Product Management

Accounts Payable Process Automation
for SAP and Oracle with MarkView 8.0

Agenda


Fast Facts About AP Automation


What is MarkView?


Mobile Technology for AP


What is new in MarkView 8


Live Demonstration


Q&A


2

Kofax: Global, Successful, Strong

Customer Success

Customers:

20,000+

Software seats:

150,000+

ERP, CRM, LOB integrations:

10,000+

Global Reach

Headquarters:

Irvine, CA

Founded:

1985

Employees:

1,200+

in
37

countries

Channel partners:

800+



3

Financial Strength


FY12 Results

Total revenues:


$262.5
m

Adjusted EBITDA:


$48.5m

Adjusted EBITDA margin:

18.5%

Cash at June 30, 2011:


$81.1
m


Accounts Payable Track Record

Customers:

1,000+

Professional Services:

>400
years

Multi
-
ERP integration, including certified
real
-
time integration to Oracle and SAP




Compliance and control

Regulatory
pressure,

lack of control and
visibility and

lost early payment
discounts


AP
d
epartment productivity

Labour intensive
and error prone
manual
activities (data
entry, exception
handling,..)


Process delays and costs

Invoices received
in multiple
locations,

time delays and
risk

routing Invoices
for processing

Supplier pressure

More efficient
channels and
formats to
submit invoices.

“Was my invoice
received?”

“Is my invoice
correct?”

Challenges in Invoice Processing

4

Why automate Invoice capture and processing?

Source
:
Aberdeen
Group

27%

27%

29%

31%

62%

Conduct internal assessment of current A/P capabilities

Standardize Invoice receipt and work flow processes

Centralize A/P processes

Integrate e
-
payables solutions w/other systems

Automate invoice receipt/workflow
processes

Actions Needed

14%

24%

51%

55%

Improve process and remove inefficiencies

Need for better cash management

Need to improve visibility into invoices

Need to reduce invoice processing costs

Top
Pressures

Slide
5

Hackett Research and Facts on AP Automation


Top performers in Purchase
-
to
-
Pay (P2P)


Focus on PO utilization, on
-
time payments, automated processes


Streamline process but still maintain control


Can be nearly ten times less expensive than lower performers


Equates on average to $4M cost gap per year


Invoice Automation is the key for Top Performers


Needs to allow for invoices in all formats (paper, email, etc.)


All documents captured need to be processed the same way


Integration with ERP important for a complete solution


6

Hackett Main Areas of Consideration


Multiple forms of automation


Electronic is best but nearly 60% are still paper


Genuine invoice recognition and validation


Use data in the ERP to help with recognition and validate data


Seize efficiencies in all areas of AP


Pre
-
processing, Verification/Approval, Entry


Discrepancy resolution, Inquiry, Filing/Retrieving


Raise the value proposition of P2P


Never going to make money, but can justify ROI easily


Do not make your business case in a vacuum


7

Hackett Summary


Greatest value is when invoices are processing is “touch
-
less”


Let humans interact where there is value added


Understand your supply
base


Some will adopt electronic some will not


Some will want self
-
service some will not


You know your suppliers best


Ask questions, request demos, speak with other
users


E
nsure functionality meets
your business requirements


Think beyond the
invoice


L
ook
for the value in the end to end
P2P process

8

Best
-
in
-
Class (20%)

Industry
Average (50%)

Laggards (30%)

AP Automation
-

How Good is Current Practice?

Slide
9

Cost & time to

process
one invoice

Source: Aberdeen Group,
Invoicing and Workflow:
Integrating Process Automation to Enhance Operational Performance
(May 2011)

$38.77 20.8
days

$
15.61 9.7
days


$3.09 3.8
days

Monthly

cost


$387,700

$
156,100

$30,900

Invoices

processed
monthly

10,000

10,000

10,000


Best
-
of
-
Breed

Accounts Payable
automation application


$350B AP spend and 50 million invoices
processed annually


Customers are 175 global leaders
operating in 100+ countries


Purpose built for Oracle and SAP,
certified by Oracle and SAP


Delivered by Kofax PS with >400 years
AP Automation Experience

Kofax MarkView Fast Facts

10

What is Kofax MarkView?

Flagship product: MarkView® for AP


Expense Management, AR, Purchasing,
General Ledger, Project Rebilling, HR


Advanced Capture of
i
nvoice images and data


Best practice, productized workflow integrated
real
-
time with Oracle and SAP


Actionable analytics


Supplier self
-
service portal


Oracle Validated Integration


Certified SAP Software
Partner

11

What is Kofax MarkView?

Real
-
time Monitoring
-

the Big Picture


Where are all my invoices RIGHT NOW?

Actionable analytics


Not “How are we doing?” but “What can we do
about how we’re doing, RIGHT NOW?”

Employee interaction


Intuitive web interfaces for users not familiar
with ERP system

Supplier interaction


Payment, invoice and purchase order Inquiry


Invoice submission, e.g. purchase order flip

12

Why Buy Kofax MarkView?


Proven

Return on Investment


Proven

Technology


For global deployments, millions of transactions
and tens of thousands of users


Highest level of Oracle & SAP certification


Proven

Track Record


History of success in top organizations


Proven

People


More than 400 years experience in AP process
automation,
p
rocure
-
to
-
pay and Oracle/SAP



13

Who runs Kofax MarkView?

14

Prior to Kofax

Time
-
consuming, expensive process:

1.
Receive paper invoice

2.
Look up authorizer on purchase order

3.
Email details to authorizer for approval

4.
File paper invoice awaiting approval

5.
Follow up for approval if no response

6.
Receive approval

7.
Pull paper
invoice from file drawer

8.
Key
invoice
in ERP system

9.
File
paper invoice
in AP file storage

10.
Execute payment

11.
Pull
paper invoice for
inquiries
received

Case Study: Juniper Networks

2009 revenue: $3.5B

Global workforce: 7,000

Finance locations:


California, Ireland,


Hong Kong, India


Cycle times too slow


Lack of global scalability


Lack of visibility


Lack of control

15

Worldwide Metrics

Historical 2003

Current 2009
Annualized

Resulting
Benefit

Invoices Processed

62,000

1,280,370

20x more

Number of AP FTEs

5

12

2.4x more

Annual Transactions per FTE

12,400

106,698

8.6x more

Minutes Per Invoice

9.2

2.7

3x faster

Backlog

9 Days

< 3 Days

200% less

Cost Per Invoice

$4.72

$1.61

3x less

% of Process Automated

48%

94%

2x as much

Case Study: Juniper Networks

16

17

MarkView

for AP

Manual Entry

Manual Entry

Automated Entry

Automated Entry with KTM

Image Automatically
Attached

Image Automatically

Attached with Kofax Capture

Self Service for Suppliers with Kofax SupplierExpress

AP Performance Management with
MarkView
AP Advisor

Paper

Fax

XML

Email

Supplier Network

Self Service Invoice

Real
-
time ERP
Integration

Context Sensitive
Workflows

PO

Non
-
PO



Audit

Payment

Coding &
Approvals

Review &
Resolve

Entry

Capture

Kofax AP Advisor


Real
-
time analytics and actions for entire AP process


Allows process owner visibility into all aspects


Productivity and Efficiency


Discounts


Cash Management


Internal Controls


Dashboards and reports combine MarkView and ERP data


Not just “read
-
only” but allows actions to be taken


Reassign, Escalate, Increase Priority


Can be configured to execute automatically

18

Kofax SupplierExpress


Self
-
service portal for your suppliers


You can invite or they can request invitation


Assign supplier users to suppliers in your ERP


Data accessed securely from anywhere on the Internet


NO ERP DATA replicated outside your system


24x7x365 access for suppliers to answer their own questions


Did you receive my invoice?


Has my invoice been approved?


When will I be paid?


What is the status of my payments and POs?

19

MarkView 8.0
-

Mobile Technology for AP


Business user participation in the AP process


Reviewing invoice transactions and documents


Approving invoices


Answering questions about invoices


Receipt capture


Allowing users to take pictures of receipts


Submit from mobile device directly into Kofax MarkView


Invoice and related document capture


Similar to receipt capture but for invoices


Same processes as if invoice was emailed/faxed/scanned

20

Mobile Invoice Review and Approval Issues


User must have access to:


ERP data


Workflow data


Original invoice document


User interface challenge


Information overload for smartphone form factor


Phased presentation of data


Drill
-
down available


Action buttons for approve, reject and forward

21

Mobile Document Capture Issues


Smartphone image quality


It’s not the camera


User challenges


Lighting


Folds, stains, other document imperfections


Kofax VRS optimizes the image for downstream processing


Installed directly on device as part of Kofax Mobile Capture


Renders high quality black and white images


Dramatically reduces size of image for submission


Saves on data plan usage and upload time

22

Version 8.0
-

MarkView Goes Mobile

Mobile MarkView


Full MarkView capabilities for invoice review,
discrepancy resolution and approval


Secure & consistent with desktop capabilities

Kofax Mobile Capture™


Capture expense receipts, invoices, more


Image perfection with VRS


Integration with existing Kofax services
(capture, expense management accounts
payable)


23

Demo


24

Questions from the Audience?

Thank
you

For further information, please contact:

Derek Lisinski

Senior Manager, Product Management

Phone: +01
-
781
-
743
-
2133

Email: Derek.Lisinski@Kofax.com