Automating AP to Connect Invoice Spend to the Rest of Your Employee Spending A Concur Solutions Series Webinar

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Geoffrey McLaughlin
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2 Automating AP to Connect Invoice Spend to the Rest of Your Employee Spending A Concur Solutions Series Webinar Carla Minsky, Director of Sales, Concur Invoice Wendy Sward, Manager IT Finance Applications, St. Jude Medical Inc. Cher Pearsall, CEO, Pivot Payables 2

3 Connecting Invoice Spend Carla Minsky Director of Sales, Concur Invoice 3

4 Managing spend is a distraction, not a differentiator. 4

5 There s a Lot of Spend to Manage! Direct Indirect Indirect P-card Expense PO PO non-po reports 5

6 The Way We Spend is Split into Two Pre-approved spend User-driven spend Centralized, process-driven, and can be automated Decentralized and not pre-approved 6

7 Which of the following procurement policies are in place today? Approval/authorization procedures 76% Reimbursement policies 57% Restrictions for buying outside procurement-approved channels 47% Internal purchasing portals 36% Base: 1,580 end users Source: Forrester Consulting on behalf of Internship, August

8 Policies Aren t Keeping Pace with the Way Users Are Spending Have pre-approval processes 76% 30% 76% Buy outside the process anyway Base: 1,580 end users Source: Forrester Consulting on behalf of Internship, August

9 Rise of the Empowered Business User What are the most important factors prompting you to purchase products or services for work yourself? More convenient/faster 52% Understand what is needed Research better options Get lower prices/cut costs More choices Base: 1,580 end users Source: Forrester Consulting on behalf of Internship, August % 30% 29% 26% 9

10 Because of the digital economy, end users find the procurement process slow and inefficient. 10

11 Are You Missing Out On Office supplies & 11

12 Are You Missing Out On Conference expenses & 12

13 $500,000 A real-world example. 13

14 $50,000 A real-world example. 14

15 So what s the answer? 15

16 Innovating accounts payable. Re-automate and re-engineer improve the process for my end users. 16

17 The Concur Approach Create a mobile experience. Deliver in-depth insight. Integrate data from any source. Create an efficient AP engine. 17

18 The Concur Approach Connected. Effortless. Transparent. Connect all your data. Connect to any partner. 18

19 Capture All Employee Spend Risk and compliance Expense Meetings and events Tax management Industry solutions Travel Invoice Spend optimization User experience 19

20 Preauthorize Scan and capture Workflow and approvals Payment Reporting 20

21 Invoice Best Practice Global Deployment Wendy Sward St. Jude Medical 21

22 Background Wendy Sward, IT Manager, Finance Applications, St. Jude Medical. St. Jude Medical for 6 years Configuring Concur for 10+ years Responsibilities: Manage Concur Expense, Invoice & Requisition (I do not manage Travel) Manage SJM Global HCP Databases My team consists of 4 IT staff members St. Jude Medical uses Concur Travel, Expense, P-Card, Invoice & Req. Concur is deployed in over 29 countries, with 19K+ active users 22

23 St. Jude Medical Concur Invoice Best Practice Pre-Concur Invoice Paper Process WHY? Large volume of Paper Invoices Invoices mailed to Accounts Payable, Managers, Approvers Signature Authority is manually tracked No-visibility to where an Invoice is (did you receive my Invoice?) Due to manual process the Number # of days to post for payment was lengthy Document retention process varies in each global location 23

24 St. Jude Medical Concur Invoice Best Practice Over a 2 year period we deployed Concur Invoice to 16 Countries Methodology: Fast Track standardized template Partner with EMEA Finance Headquarters Built an EMEA Template that all countries could use 2 policies were created HCP and Non-HCP Invoice Policy Standard workflow, Standard Forms, Standardized HCP Codes Advantage to having Expense before we had Invoice Country variances were VAT Codes or Expense Types We grouped Country Go Lives in waves of 3-4 countries per quarter Travel on site, train AP processor in Live Environment with their invoices 24

25 SJM Invoice footprint (16 countries) 2 years 25

26 Business Value & Change SJM Accounts Payable is becoming virtually paperless Increased cycle time Avg. 3-5 days Managers like Concur Invoice due to Mobile/Desktop Approval Managers can also quickly see the status of their Invoices pending payment Audit likes Concur Invoice as they can Audit from virtually anywhere Global Signing Authority is now electronic & can be enforced/audited Global Document Retention standardization Single Platform for Invoice Processing Vendor Invoice volume is higher than Employee Expense Reports Stronger tracking and visibility of HCP Payments 26

27 Next steps Concur Requisition & Invoice Attendee Tracking SJM Concur Requisition: International HCP/Meetings Financial Pre-Approval Gain Approval up front improve efficiency & reduce costs at time of payment Ability to forecast upcoming or remaining HCP/Event spend Ability to use Concurs API to send approved Requests to other applications France & Belgium in scope for 2016, with a plan to deploy globally in future months Concur Invoice Attendee Tracking: Attendee tracking will be enabled in Concur Invoice in 2016 Concur Expense & Invoice Attendee data can be sent to a Centralized HCP reporting database. 27

28 Pivot Payables Cher Pearsall CEO 28

29 PivotPrime Client Billable Expenses Expedite Client Billing Process Professional Services Engineering Architectural Private Equity Legal You d Be Surprised ROI Immediate and Persistent Operating costs Recovery of missed expenses Cash flow Concur Invoice and Concur Expense Capture all billable items in one statement, including invoice and receipt images Fast Activation Easy Fast Statement Creation 20 minutes to get started Generate billing statements on demand from that point on 29

PivotPrime Business Scenario Engineering Concur Invoice Equipment and supplies purchased in advance Permits, licenses, and insurance 3 rd party contractors Risk management and assurance

30 PivotPrime Business Scenario Engineering Concur Invoice Equipment and supplies purchased in advance Permits, licenses, and insurance 3 rd party contractors Risk management and assurance review and audit MANY COMPANIES BILL BACK USING BOTH INVOICE & EXPENSE Concur Expense Air and ground transportation expenses Travel meals and entertainment Extra supplies and on-site incidentals 30

31 What is PivotPrime? PivotPrime creates billing statements that contain all of the individual expense item details along with their attached receipt and invoice images. Concur Invoice Concur Expense 31

32 PivotPrime Want to learn more? Contact Concur Reach out to your Concur rep to get the ball rolling or Inquire via the Concur App Center directly. Watch a Video See how PivotPrime works, watch a quick video. Contact Pivot Payables Directly Give us a shout! sales@pivotpaybles.com

33 Q&A 33

34 2016 Concur, all rights reserved. Concur is a registered trademark of Concur Technologies, Inc. All other company and product names are the property of their respective manufacturers. Specifications and other details listed are accurate as of printing, but may change without notice.

The presentation will begin shortly. Audio will be streamed directly via your computer speakers. Enjoy the webcast!

The presentation will begin shortly. Audio will be streamed directly via your computer speakers. Enjoy the webcast! Seattle, WA March 12-16, 2018 Register: https://fusion.concur.com/ Solution Series Unlock