e-invoicing Going to the Next Level Markus Ament Chief
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1 e-invoicing Going to the Next Level Markus Ament Chief
2 Agenda e-invoicing - What Works and What Doesn t Supplier Value Propositions Dynamic Discounting & Turning Issue Into Opportunities Real World Success Stories Questions
3 A simple chain The ultimate goal: Get rid of paper, manual keying, exceptions and calls How to get there: Receive e-invoices in a virtually perfect quality How to achieve it: Supplier adoption What drives adoption: Value for supplier
4 What is E-Invoicing? Completely Eliminating Paper Sending and Receiving Invoices Electronically E-Invoicing Data Stays Data: No Data Entry or Correction What e-invoicing is Not: o Scanned/imaged paper invoices o OCR ed paper invoices o ed PDFs
5 Adoption of E-Invoicing in the Last Year 42% 29% 21% 8% In Use Deploying Evaluating Not Planned Source: PayStream Advisors, 2012
6 Paper Remains Dominant 64% Methods Used to Trade B2B Invoices 9% 13% 14% Fax E-Invoicing Paper Source: PayStream Advisors, 2012
7 The e-invoicing Challenge: Replacing Paper Customers: o ERP Input formats are proprietary o Cost and complexity of working with hundreds of suppliers Suppliers: o Cost and complexity of customizing for clients o Billing systems output invoices in proprietary formats
8 E-Invoicing Adoption Barriers Current processes work 23% Lack of budget 18% We do not think there will be an ROI 16% Lack of resources to manage automation Lack of understanding of current available solutions 6% 7% No executive sponsorship 6% Source: PayStream Advisors, 2012
9 Supplier Value Propositions 1. Complete Solution Offering 2. Covers all Transaction Types 3. Interoperability 4. Transparent Vendor Portal 5. No Supplier Fees 6. Financial Value
10 Supplier Value Proposition 1: Complete Solution Offering Current New o Focus on e-invoicing Connectivity often one-way street: Incoming only No additional data on the portal or network o e-invoicing, incl. flipping a PO o Invoice status o Remittance/payment details o PO updates, confirmation & history o Address changes, bank changes o Online Dispute resolution o Online W9/1099 o.
11 Supplier Value Proposition 2: Covers All Transaction Types Current: Scope limited to invoices submitted through network New: Comprehensive visibility for all invoices Network or Platform Status? PO? Payment Details? PAPER ERS EDI Network or Platform Status! PO! Payment Details! History! ERP ERP
12 Supplier Value Proposition 3: Interoperability Current: Supplier accesses each platform used by its customers New: One access point Network or Platform Network or Platform Network or Platform API Network or Platform
13 Supplier Value Proposition 4: Transparent Vendor Portal Instant visibility into invoice status Payment certainty and details Easier and faster access to cash Online collaboration with your customers means no more calls into AP
14 Supplier Value Proposition 5: No Fees Simply put suppliers will not use a platform that charges a fee More and more providers offer electronic invoicing free of charge to suppliers
15 Supplier Value Proposition 6: Financial Value Top Two Supplier Pain Points 1. When will you pay me? 2. Can you pay me earlier?
16 Supplier Value Proposition 6: Easier Cash for your suppliers Factoring market is growing 28.6% annually and exceeds $2.3 trillion Credit Card: 15% industry average APR Banks are reluctant to lend to SMB's, and often for steep rates Small business loans are effective for large capital expenditures but are generally not appropriate for day to day operational expenses
17 But Just in Case Not Everyone is Ready, there are still ways for the invoice to be submitted electronically 1 OCR 3 Please Verify OK 2 Any supplier can a pdf Data correction stays supplier responsibility Free e-invoicing as alternative with educational measures to ensure a smooth and seamless transition 4 BUYER
18 Greater Supplier Value = Greater Supplier Adoption 3. Interoperability 4. Transparent Vendor Portal 2. Covers all Transaction Types 1. Complete Solution Offering 5. No Supplier Fees Supplier Adoption 6. Financial Value
19 There Remains Another Problem Banks Benefit Not Buyers or Suppliers LARGE BUYER Invoice Approved on Day 5 Invoice-Net 60 SUPPLIER Invoices Buyer Buyer earns 0.5% annual interest until due date BANK Suppliers Factors at 20% APR
20 Status Quo is Ineffective " Buyers Have Record Amounts of Cash Cash as % of Assets % 8% >10% " Typically Invested at Near-Zero Return 4-Week Interest Rates % 5% 0.1% " While Invoices are Ready to Be Paid! Days Until Approved Payment days 30 Days 45 Days
21 The Solution: Dynamic Discounting What is it: expanding beyond the typical 2% net 10 discount terms to capture more discounts The Benefit: greater returns on cash and increased supplier adoption of granting discounts
22 Dynamic Invoice Discounting Represents a Win-Win Enables large companies ( Buyers ) to save money and improve return on cash by paying suppliers early Enables smaller companies ( Suppliers ) to access less expensive financing alternatives by accepting time-variable Dynamic Discounts Imagine paying your suppliers less and having them thank you
23 Turning Issue to Opportunity Suppliers are willing to offer attractive discounts for early payment - Integrity and Reliability ensured Invoice Approval Opportunity Payment (due date) days Terms (days): " 120 Anheuser-Busch " 60 Hertz " 56 Industry Average " 45 Apple
24 Will Buyers Generate Acceptable ROI? Dynamic Discounting Solution Deployed $31.4m This Solution has saved us more money quicker than anticipated - Ben Shaffer, PG&E $3.9m $5.8m $10m Economics for PG&E: Break-even: 6 weeks after go-live ROI: >2000% in first 12 months
25 Will Suppliers Actually Enroll? 110% 88% 66% 44% 22% 0% Go-Live Week 1 Week 3 Week 5 Week 7 Results: Go- live 3.5 months a2er contract signature: 45% of previous networked suppliers converted within 1 week 99% converted within 5 weeks Now enrolling non- previous networked suppliers: 30% of invited enrolled within 1 ½ weeks $5M in discounts/billion in spend 7 Employees in AP department Taulia Previous solution
26 Is the Process Timely? Since go-live 3 months ago we ve saved $140K that s more than $500K in annual savings and that s just the tip of the iceberg. We expect to achieve annual savings of $1.5 2 million. For a program with minimal up-front investment that s given us a very rapid return on our investment. And furthermore, we ve been surprised how enthusiastic our suppliers have been. - Robert Locke, Director of Strategic Sourcing and Supplier Diversity
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30 Our Vision of Tomorrow for You as a Buyer Free E- invoicing and Visibility Portal Free for your Suppliers and free for you Increased profits From Dynamic Discounting Start electronic immediately Onboarding Guarantee Great supplier relationships Much better Supplier Value at no cost = win-win
31 Markus Ament Chief Questions?
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