AVIDXCHANGETM USERS CONFERENCE
Meet Your Speakers Anna Alley Manager of Professional Services AvidXchange, Inc. Stephanie Wilczewski Project Manager, Implementations AvidXchange, Inc. Alicia Barrington Project Manager, Implementations AvidXchange, Inc. 2
AVIDXCHANGE USERS CONFERENCE BEST PRACTICES: AVIDXCHANGE INVOICE SYSTEM ADMIN TRAINING - ADVANCED
AGENDA TAKE 5! WHAT IS SIX-SIGMA AND THE DMAIC MODEL? FOUR MAJOR PAIN POINTS IN YOUR AP PROCESS REPORTS TO GUIDE PROCESS IMPROVEMENT Q&A 4
TAKE 5! 5
What is Six-Sigma? Six Sigma is a method that provides organizations tools to improve the capability of their business processes. This increase in performance and decrease in process variation lead to defect reduction and improvement in quality, allowing you to focus your efforts on business priorities. 6
DMAIC Model 7
A New Perspective 8
Pain Points INVOICE SUBMISSIONS EXCEPTION MANAGEMENT APPROVAL CYCLE PAYMENT EXCEPTIONS 9
Invoice Submission Invoice Created Received in Inbox 10
Invoice Submission Invoice Created Received in Inbox 11
Invoice Submission EMAIL Invoice Created AvidInbox MAILED & SCANNED BY AVIDXCHANGE Invoice Created Mail Time AvidInbox MAILED & SCANNED INTERNALLY Invoice Created Mail Time Local Scan Time AvidInbox 12
Invoice Submission by Type DEFINE Internal Upload, 200, 3% Email - Internal, 1166, 16% MEASURE ANALYZE IMPROVE Mailed to Avid, 4478, 60% Email - From Vendor, 1582, 21% CONTROL 13
Average Submission Delays by Submission Type DEFINE 16 14 14.3 Email - Internal Email - From Vendor Mailed to Avid Internal Upload 15.2 MEASURE 12 ANALYZE 10 8 8.5 6 4.77 IMPROVE 4 2 CONTROL 0 Email - Internal Email - From Vendor Mailed to Avid Internal Upload 14
Entity Name Emailed from Vendor Mailed, then Emailed from Internal User Mailed From Vendor Mailed from Vendor, then Uploaded by User Entity A 60% 5% 35% 0% Entity B 5% 60% 15% 20% Entity C 60% 10% 20% 10% 15
Apply This Concept DEFINE MEASURE ANALYZE Approval Performance Metrics AvidInbox Activity Report IMPROVE CONTROL 16
Supplier Education How does the Supplier Submit their Invoices? DEFINE MEASURE ANALYZE IMPROVE AVID PO BOX AVIDBILL CONTROL 17
Exception Management High Exceptions Duplicate Research Image Issue Recycle Bin Ship-to Research Statements Vendor Research Client Email Submission 21.03 37.16 53.20 42.42 Scanned Image 8.01 13.30 57.19 Upload 30.63 41.37 48.21 49.28 50.83 Vendor Email Submission 34.32 20.86 43.83 49.24 46.07 50.04 18
Exception Management High Exceptions Duplicate Research Image Issue Recycle Bin Ship-to Research Statements Vendor Research VENDOR 1 2 11 29 2 2 VENDOR 2 19 11 10 3 VENDOR 3 8 1 12 VENDOR 4 22 11 1 19
Apply This Concept DEFINE MEASURE ANALYZE AvidInbox Queue Aging Report IMPROVE CONTROL 20
Exception Management Queue Filtering DEFINE MEASURE ANALYZE IMPROVE CONTROL 21
Exception Management Vendor to Property Associations DEFINE MEASURE ANALYZE IMPROVE CONTROL 22
Exception Management Queue Permissions DEFINE MEASURE ANALYZE NARROWED PERMISSIONS BY QUEUE VIEW IMPROVE INV EXCEPTION MANAGER VIEW CONTROL 23
Exception Management Queue Permissions DEFINE MEASURE ANALYZE IMPROVE INV EXCEPTION MANAGER VIEW NARROWED PERMISSIONS BY ENTITY ASSOCIATIONS VIEW CONTROL 24
Workflows/Approval Cycle Time DEFINE MEASURE ANALYZE IMPROVE Inefficiencies with workflow set up? Gatekeeper workflow How are invoices re-routed? Are there vendor default workflows that can lessen the workload on the gatekeeper? Inefficiencies of individual approvers? Are there specific users causing a bottleneck? Are the right people getting escalation emails (property escalation versus entire organization)? CONTROL 25
Apply the Concept DEFINE MEASURE ANALYZE Approval Cycle Time by Property Invoices by WF Detailed Approval Time by Users Approval Performance Metrics IMPROVE CONTROL 26
Approval Cycle New Feature Upload Templates DEFINE MEASURE ANALYZE IMPROVE CONTROL 27
Payment Pain Points DEFINE MEASURE ANALYZE Managing Dual Process Late Payments IMPROVE CONTROL 27
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Apply This Concept DEFINE MEASURE At Risk Payments Report ANALYZE AvidPay Adoption Detail Report IMPROVE CONTROL 28
Questions? 31
#REVCLT THANK YOU! @AvidAutomates @AvidXchange 32