Outsourced out of a job, or into a better one?

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1 Outsourced out of a job, or into a better one? Or How I worked myself into retirement through automation and business process outsourcing By Pam Russavage 1

2 What We ll Cover My Life Before P2P P2P Evolution What s Next Wrap-up 2

3 My Life Before P2P Operations Finance Professional Passion for Process Affinity for Technology History Keypunch Operator Receptionist Billing Clerk Assistant Bookkeeper Deductions Analyst Administrator Credit & Collections Credit/Collections Manager Manager Customer Financial Services Manager Business Process Analysis 3

4 Back to the Future? 4

5 The Challenge- We Were All Over the Board 100% paper 55% invoices entered already past due Multiple AP processing locations Inconsistent volume & efficiency information Inconsistent use of Strategic Suppliers Multiple or Non-existent purchasing software Multiple Indirect Tactical Buyers Multiple AP remittance addresses Duplicative Administrative functions Multiple AP systems Multiple post process document storage Methods Poor Supplier Relations Manual Accrual calculations Limited ability to report accurate enterprise metrics Multiple reporting processes Location specific processes High % Locally Printed/Mailed checks Low % of PO s Manual Wire Transfer Process Multiple sets of controls and audit processes 5

6 The Objective Improved visibility & financial controls Enhanced efficiency & effectiveness Improved on-time payments Reduced transactional process & audit cost Improved Cash Flow Increased Procurement effectiveness 6

7 With a Little Help from My Friends (the Beatles 1967) TAPN The Accounts Payable Network IOMA Institute of Management & Administration The Hackett Group Process Benchmarking & Best Practices 7

8 Stages of Organizational Maturity Top Performer Traditional De-centralized invoice processing De-centralized purchasing Manual matching & approval Minimal automation Imaging solution for document retention Limited metrics No formal SLA s Learning Centralized invoice processing Business unit purchasing Document imaging & workflow Systematic matching Rules based approval Moderate automation Some purchase card usage Efficiency metrics Limited SLA s Advanced Centralized invoice processing Some centralized purchasing Imaging with OCR & rules based workflow Some assumed receipt, evaluated receipt and automated recurring payments EDI for large volume suppliers Basic Portal technology for supplier self-help Expanded purchase card program High level end to end efficiency & effectiveness metrics Formal SLA s End to end accountability for P2P processes & reporting Formalized supplier payment strategy Aggressive use of assumed receipt & evaluated receipt Fully developed purchase card program Fully developed, detailed end to end efficiency & effectiveness metrics Closed loop EDI for strategic suppliers Complete supplier selfservice portal Formal SLA s Reprinted with permission from the Hackett Group 8

9 Failure is not an option. You can not operate in this room unless you believe that you are Superman and whatever happens you are capable of solving the problem Gene Kranz 9

10 Establish a Shared Service Center Develop & Implement a Corporate Payment Policy Implement a single ERP system Enhance ERP capabilities with complimentary applications Leverage technology Multi Year, Multi-Faceted, Enterprise-Wide Approach Utilize strategic partners for transactional outsourcing 10

11 Establish P2P Shared Service Center Consolidate processes under one leader Accounts Payable Freight Payable Credit Card Sales & Use Tax Indirect Supplier Order Management Convert plant processing to Omaha 2 for 1 FTE Reduction 11

12 Implement Corporate Payment Policy Partner with Finance, Treasury, Internal Audit & Procurement Incorporate with Purchasing Contract Policy Standardize & reduce payment terms Standardize payment process/days 12

13 Build the Foundation to Automation Implement a new ERP system Integrate efficiency software Standardize business processes Develop metrics & reporting 13

14 Leverage technology Integrate PO approval workflow Implement front end invoice workflow & imaging Integrate P-Card functionality for small dollar purchases Automate payment processing runs Implement ACH payment functionality Implement EDI with top volume suppliers Utilize evaluated receipt and invoice plan functionality Implement invoice image capture Establish Supplier Self Service Portal Implement OCR/IDR 14

15 ERP & Bolt On Applications Master Data Create/Change 1099 Reporting ERP Purchase Order, Invoice Entry & Payment Processing Data Image & Workflow P-Card Processing Sales & Use Tax T & E Trans Mgmt 15

16 Utilize Strategic Partners for Transactional Outsourcing Print/mail checks to Bank partner One-time Visa card payments to Bank Partner 1099 process outsourced to 3 rd party Utility, telecom & facilities lease invoices to 3 rd parties Duplicate payment audit to 3 rd party Cloud hosted supplier portal with outsourced support Lift & shift mature business processes to 3 rd party 16

17 Timeline 2006 to 2009 ERP Rollout Centralize Accounts Payable Procure to Pay Taxonomy Standardize Payment Methods & Cycles rd party process rd Party Electronic Invoice Submission Supplier Self- Service Portal invoice image capture 3 rd Party Duplicate Payment Audit 2011 Visa Bankcard Payments Expanded P- Card Program Non-invoice Settlement 2012 to 2013 Closed Loop EDI Centralize SG&A Supplier Order Management E-Catalog 2014 to 2016 MRO B2B User Interface w/po Flip OCR/IDR Outsource Transactional processing for AP and Indirect Supplier Order Management 17

18 18

19 Improved Visibility 19

20 Invoice Processing IPH FTE Cost per invoice down 69% FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 20

21 Payment Processing 2009 % of Transactions 2009 % of Dollars 70% 66% 60% 50% 120 On Time Payment 40% 30% 20% 26% 35% 37% 23% On Time Payment 10% 0% 1% 2% 3% ACH Domestic Wire Foreign Wire Local Check Outsource Check 5% 1% % of Transactions 2016 % of Dollars 20 73% 0 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 46% 41% 7% 1% 1% 3% 2% 1% 15% 9% 1% ACH Domestic Wire Foreign Wire Local Check Outsourced Check Visa Card Payment 21

22 Vendor Inquiry/Self-Service Portal Vendor Inquiries Self Service Portal Direct Unresolved 8% 40% 52% Vendor Inquiries by Category Pymt Status AP Review Billing Error Process Assistance 19% 35% 17% 29% 22

23 Cost per PO down 60% Indirect Purchasing Establish Indirect Strategic Supplier Base Convert MRO to B2B Cloud based solution Human Resources Administrative Information Technology Financial Services Marketing Temporary Labor Convert Indirect purchases to PO Establish E- Catalog for MRO Suppliers Centralize SG & A Indirect PO s 23

24 Outsource Transition Plan Define scope of work Build transition plan Complete process mapping Identify/mitigate risk Confirm resource requirements Establish SLA s & KPI s Develop communication plan Complete/confirm technical solution Complete knowledge transfer Pilot Go-live Stabilize 24

25 Outsource Transactional Processing 104 Discrete Activities performed by AP & SOM Mail Room HR Scanning Sales & Use Tax 28 Activities reallocated to alternate teams 50 activities outsourced to strategic partner 24 activities remain with GBS Document Imaging Invoice Processing Credit Card Processing Indirect Purchasing Discrepancy Resolution Metrics & Analytics 25

26 Outsource Partner Management Service Level Agreement Invoice entry cycle time Inquiry response time Discrepancy resolution time PO conversion cycle time Invoice block resolution time Key Performance Indicators Cost per invoice Cost per purchase order First pass match Days Payable Outstanding 26

27 What s next for the business? Stabilize, monitor & maintain outsourced back office processes Review/analyze plant purchasing for potential BPO expansion Increase use of B2B interface tool for SG&A purchases 27

28 Wrap Up 28

29 Your Turn! How to contact me: Pam Russavage Cell (402)

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