December 10, 2015

Using SharePoint & Nintex for Accounts

Payable (AP) Processes

WEBINAR

IT Solutions from Business Experts

ACTS is a Florida-based IT solution provider working with businesses to leverage technology for competitive advantage and market share growth

With work grounded in a business outcome methodology, ACTS has been helping clients (from regional SMBs to global Fortune 500 enterprises) drive better business outcomes for more than 15 years

IT Solutions from Business Experts

About the Presenter:

Miranda Davis

Business Development/Solution Consultant

SharePoint SME and Power User

Industry Trends Best-In-Class Companies Automated AP Process Advantages AP Process

Scan/OCR Invoices with Purchase Order (PO) Invoices without Purchase Order (Non-PO)

Demonstration Why Use ACTS? Questions

Agenda

Manual processing of paper invoices is cumbersome and costly In a manual environment

Suppliers have no visibility Finance has difficultly managing the company’s cash position Penalties are often incurred and discount opportunities can be missed

The industry average for AP processing is 9.7 days at an average cost per invoice of $15.61.*

With automation services provided, ACTS improve your AP model to under 4 days to process and drop costs below $4 per invoice!

Industry Trends for AP

Stats provide by:*An AberdeenGroup Consulting study conducted in the spring of 2011

Surveys show that firms employing Best-In-Class performance shared several common characteristics which are all features of the ACTS AP Solution Accelerator:

Best in class companies are: 2.4 times as likely to have invoices archived in a central, searchable

location* 1.9 times as likely to have automated matching of invoices to purchase

orders* 4.1 times as likely to have automated dashboards summarizing current

AP status and performance*

Best-In-Class Companies

Stats provide by:*An AberdeenGroup Consulting study conducted in the spring of 2011

Why Automate AP with Scan/OCR and SharePoint?• Scanning invoices provides the opportunity to use OCR technology, extract data and drive

automation in the AP process• Using Smart Capture we can pull relevant data to complete previously all manual tasks such as:

• Auto route invoices to appropriate groups for GL coding OR automate completely via vendor tables

• Auto route invoices for approval using approver tables OR automate completely by using approval rules

• Auto compare Invoices with Purchase Orders and Receipts, for an automated 2 or 3 way match resulting in AP staff only handling exceptions

• Auto route approved invoices to AP staff for entry into the accounting system OR automate data entry completely with web services

• With SharePoint and Nintex we can use Forms and Workflow to automate the AP process either via workflow to streamline the process or eliminate all manual intervention depending on a companies level of complexity and tolerances

Automated AP Process Advantages

The first step: Centralize and scan all invoices• Scanning invoices provides the opportunity to use OCR

technology, extract data and drive automation in the AP process

• Using Smart Capture we can pull relevant data to direct work or complete tasks, as well as, aid in driving which workflow is invoked• PO, Non-PO, special handling routing for vendor specific

requirements or credit memos

AP Process – Scan/OCR

Invoice Processing• Nintex workflow can evaluate the data provided and determine the path for

the invoice to travel by using rules and algorithms • Invoices with Purchase Orders can be reconciled in an automated fashion

against data retrieved from the accounting system using • 3 way match • 2 way match

AP Process – Invoices with Purchase Orders (PO)

Invoice Processing• Invoices without a Purchase Order can be routed via workflow based various

options, including:• Vendor Name or ID

• And using a Vendor Table, for example we can • route invoices to appropriate groups for GL coding and initial review• OR we can automate the GL coding process by pulling it from the vendor table

• Once appropriately reviewed and coded workflow can • route invoices for approval using approver tables• OR approval can be completely automated by using automated approval rules

(For example: Setting limits for the amount of the invoice or a using 12 month history comparison)

AP Process – Invoices without Purchase Orders (Non-PO)

Reduce the amount of time users spend performing tasks

Remove bottlenecks and minimize manual actions Easily deal with high volumes of requests Maintain visibility

Making End Users Productive

Automated Accounts Payable Process Work Queues

Exceptions Coders/Processors Approvals

Tables Nintex Forms and

Workflows Dashboards

Excel Services Power BI

Demonstration

Using the BOM, ACTS identifies the pain points and areas of opportunity to automate

Using SharePoint and Nintex to create an automated solution customized to your organizations practices and policies

Implement a SharePoint-based solution that enables you to

Leverage the collaboration platform everyone is using to surface line-of-business (LOB) data

Make data-driven decisions with confidence,

Manage risk and compliance across SharePoint and Exchange, and

Boost Return On Investment (ROI)

How ACTS Can Help Your Business

The following AP Best Practices will be employed with our solution: We help you Use Technology We help you pay within your

Vendors Payment Schedules We help you Reduce required

approvals and Improve processing time

We help you Use Automation for Approval of Repetitive Non-PO Invoices

We help you by providing AP experts to help you process your invoices

Join us in 2016 for more training and demos!

(904) 317-2140info@actsolution.net

Thank You!Our offer to you: One FREE hour of consulting and/or one

FREE hour of one-on-one training for the workflow configuration

Nintex Free Trial (need to contact ACTS)