Implementa)on: Where It Can Go All Right or All Wrong. # 235 Joe Crowley, ECM Director

Transcription

1 Implementa)on: Where It Can Go All Right or All Wrong # 235 Joe Crowley, ECM Director

2 OUTLINE About TransCentra Improving AP with Technology TransCentra Approach Project Implementation Challenges Questions 2

3 ABOUT TRANSCENTRA ABOUT US As America s largest outsourced remittance processor, one of the largest outsourced billers, and a top provider of imaging and payment processing platforms and software, TransCentra is an industry leader in innovative multichannel billing and payment solutions. TRANSACTIONS WITH IMPACT 3

4 ABOUT TRANSCENTRA Headquartered in Norcross, GA 11 offices across North America Nearing $200M in annual revenue Member of the FinTech 100 TransCentra produces over 400 millions bills and processes more than 700 million payments annually TransCentra software is used to process over 1.5 billion transactions per year The dollar value of payments processed by TransCentra annually exceeds the GDP of Venezuela, Austria, Argentina, South Africa, Thailand and Denmark 4

5 ABOUT TRANSCENTRA Napa Des Moines Naperville Louisville Rochelle Park Blue Bell Los Angeles Phoenix Norcross Charlotte Network Document Processing Solutions Remittance Processing Solutions Data Centers Software Development Location Corporate Headquarters Dallas 5 5

6 IMPROVING AP WITH TECHNOLOGY 6

7 AP OVERVIEW AP Receipt of goods and invoices PURCHASE- TO- PAY Payment Supply goods Requirement request Purchase Process 7

8 AUTOMATION Drivers Reduce Labor and Costs Better Control and Visibility Over Cash Flow Corporate and Regulatory Compliance Trends Departmental Alignment Single Process for Paper and Electronic Invoicing Increase Toward Electronic 8

9 THREE BASIC CONDITIONS Accounts Payable is Document Driven Organisations Still Rely Heavily on Paper The Process is Very Manual Transactions Spend Paper 22% 29% Electronic 78% 71% PayStream Advisors

10 THREE MAJOR CHALLENGES Missed Discounts, Late Payment Penalties Lack of Integration with Data and Documents High Data Entry, Paper, Storage and Shipping costs Faster Process $5.5 to process a single invoice 2.9 days to process Average Process $17 to process a single invoice 14.6 days to process Slower Processors $40 to process a single invoice 32.9 days to process Aberdeen Group,

11 THREE KEY GOALS Reduce Processing Time Provide Immediate Access to Key Documents from ERP Systems (SAP, Oracle, etc..) Dramatically Reduce Paper in AP Through Imaging and Workflow Fast Processor Technology Front- End Imaging IDR Automated Workflow Electronic Invoicing PayStream Advisors

12 THE TRANSCENTRA APPROACH 12

13 SOLUTION MIX Imaging IDR Workflow 13

14 FRONT-END CAPTURE (IMAGING) Single Process: Captures Images, , Attachments, Fax, Electronic and EDI Invoices Flexible: Remote, Centralized or Outsourced Secure: Digital Signature and Stamping Fast: High Speed Straight through Processing 14

15 SOLUTION MIX Imaging IDR Workflow 15

16 AUTOMATED WORKFLOW Reduce Processing Time AP Clerk s Invoice Processing Desktop Environment with Full ERP Integration Completely and Easily Configurable Automates Invoice Processing According to your: Business Rules, Authorization Definitions, Vendors, Accountants and Industry Best Practice 16

17 FASTER, MORE TRANSPARENT Straight through Invoice Processing with Automatic 2,3,4 Way Matching (Vendor, PO, GRN) Dashboard Visibility, Prioritize Invoice Payment, Capture Discounts and Avoid Penalties Efficient Exception Handling, Approvals, Coding, and Release for Payment Accountant Accoun)ng Systems Accoun)ng Systems Accoun)ng Systems 17

18 ROUTE TO MANAGERS FOR APPROVAL Direct Approval AP team choose the managers to approve Managers receive invoices but for immediate approval not coding Managers can say not mine in same way as now Harry Rhodes Steve Maher Approve or reject 18

19 ROUTE TO CODING PRIOR TO APPROVAL Code for Approval AP team choose the administrators to code Administrators code items on the invoices to their department/area Managers receive invoices for approval Admin Managers Simon Morrison Harry Rhodes Amy Partridge Francis Dempsey Approve or reject Helen Rigby Steve Maher 19

20 ROUTE BASED CODING & AMOUNT Authorization table AP team code the whole invoice Database holds an authorization table of cost centers and sign off levels Invoice is routed to the manager listed in that table for approval Cost Center: Marketing Amount: $3,808 Name Dept. Title Low High Sherri Morton Sales Account Manager 0 $1,999 Steve Meyer Sales Sales Manager 2,000 $9,999 Shelly Martin Sales VP, Sales $10,000 $1m Holly Ransom HR HR Director $3,000 $19,999 Francis Dempsey CFO 0 $1m Steve Meyer 20

21 ACCESS AND CONTROL Secure and Configurable Electronic Access for Multiple Users Including Vendors Reduce Time Searching and Filing Minimize Lost Documents Decrease Storage Costs 21

22 INTEGRATION Unifies Data and Documents Documents Accessible Directly from Line of Business Applications Simplifies Processing and Auditing The data and documents you NEED... WHERE you need them... WHEN you need them... 22

23 SOLUTION MIX Imaging IDR Workflow 23

24 INVOICE READER A Dynamic, Productized Application that Reads Invoices and Reduces Labor Learning/Training in - Manual Comple)on - Learning- Sta)on Special Rule- sets for Top- suppliers Approximate search in Data- bases (suppliers, Receiver etc.) Pre- configured Freeform Rule Sets - Keywords - Logical Rules - expressions - Masks - Valida)ons - Graphical Rules - Tables - Groups - diff. languages OCR Full page recogni)on with mul)ple OCR- Engines 24

25 INVOICE READER - FEATURES Automatic Matching and Validations Against: Vendor Master Data, Purchase Orders, Goods Receipts, Logic and Business Rules Efficient Data Capture Current Field Highlighting Line Items - Open PO Items Shown Fuzzy Search Dialogues OCR On the Fly Web Client Accessible Outsource Ready 25

26 ENTIRE PROCESS FOCUS Imaging IDR Workflow 26

27 PROJECT IMPLEMENTATION CHALLENGES 27

28 IMPLEMENTATION BARRIERS Cost Can t find package that serves all needs Worried about impact on other systems Can t find reliable partner Can t decide between in-house and outsourcing Conflicting Project/IT Priorities Multiple ERP/Too many integration points Integrating with our ERP is too complex/costly Implementation time Most of these barriers are not related to system features, but implementation! 28

29 IMPLEMENTATION PITFALLS Complexity or age of current environment Selecting a vendor with a defined and proven implementation process Proper organization and planning The Project Numerous stakeholder agendas/ earmarks Training and going live Evaluating and measuring success The Future 29

30 DRIVERS OF FAILED IMPLEMENTATION Poor project management / Poor planning Automating existing redundant processes Unrealistic expectations (time, cost, and quality/features) Lack of executive support and oversight Inadequate training Lack of end user involvement / Poor communication to all employee levels Lack of transition plan 30

31 SOLIVNG IMPLEMENTATION HEADACHES PITFALL Poor project management / Poor planning Automating existing redundant processes Unrealistic expectations (time, cost, and quality/features) Lack of executive support and oversight SOLUTION Dedicated PM from client and partner working together daily Detailed discovery and documentation identifying The current State of the Union Scope the entire process Detailed design outlining The future State of the Union Scope the entire NEW process Weekly Review including executive level support Inadequate training Lack of end user involvement / Poor communication to all employee levels Lack of transition plan Clear Team including individuals from all impacted lines of business Project team includes departmental managers, staff supervisors and departmental super-users. Include in weekly meetings Do not focus on the finish, focus on the implementation process 31

32 Any Ques)ons?