Get Your Head Into the Cloud: Lift Your AP Workflow …...Slide 1 May 20 –22, 2018 | Orlando,...
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Slide 1 May 20 – 22, 2018 | Orlando, FL Get Your Head Into the Cloud: Lift Your AP Workflow to New Heights @JustYoozIt Yooz Inc Follow Yooz:
Transcript of Get Your Head Into the Cloud: Lift Your AP Workflow …...Slide 1 May 20 –22, 2018 | Orlando,...
Slide 1
May 20 – 22, 2018 | Orlando, FL
Get Your Head Into the Cloud: Lift Your AP Workflow to New Heights
@JustYoozIt Yooz IncFollow Yooz:
Slide 2
Today’s Thought Leaders
May 20 – 22, 2018 | Orlando, FL
Justin HoldenYooz Inc
Vice President NA [email protected]
832-384-9669
Patsy PricePeterson Auto Group
Director of [email protected]
208-323-5114
Melissa HendrickYooz Inc.
Vice President [email protected]
832-334-4276
@JustYoozIt Yooz IncFollow Yooz:
Today’s Thought Leaders
May 20 – 22, 2018 | Orlando, FLMay 20 – 22, 2018 | Orlando, FL
Slide 3
Key Learning’s
May 20 – 22, 018 | Orlando, FL
About Yooz
What is AP automation?
Solving AP workflow challenges
How the Peterson Auto Group leveraged AP automation to solve for their pain points▪ Goals and Challenges▪ Gaining Buy-in▪ Results
Realizing the benefits of AP automation
May 20 – 22, 2018 | Orlando, FL
Slide 4
About Yooz
Born in the cloud in 2009
Sister company to world-class, on-premises-based ITESOFT (30 years of process automation and deep OCR experience)
2,000+ global clients processing millions of docs per year, 175+ ERP integrations
Offices in USA and Europe
75 employees, and growing
25% of revenue reinvested in R&D (2X the cloud company norm)
Passionately committed to innovation
The Yooz story
May 20 – 22, 2018 | Orlando, FL
About Yooz
Slide 5
AP Automation: An Overview
May 20 – 22, 018 | Orlando, FL
Capture Workflow Payment
AP automation is a software functionality that streamlines and simplifies the processes associated with accounts payable—from receipt of the vendor invoice to paying the bill.
May 20 – 22, 2018 | Orlando, FL
AP Automation: An Overview
Slide 6
AP Automation: What Does It Look Like?
May 20 – 22, 2018 | Orlando, FL
AP Automation: What Does It Look Like?
May 20 – 22, 2018 | Orlando, FL
Slide 7
AP Workflow Challenges: Top 8
May 20 – 22, 2018 | Orlando, FL
PayStream, A Levvel Company: 2016 Invoice Workflow Report
Many companies attempt to get by with
current manual, labor intensive
workflows, which are inadequate for
improving efficiency and lowering costs.
AP Workflow Challenges: Top 8
May 20 – 22, 2018 | Orlando, FL
Slide 9
AP Workflow Challenges: Processing Costs
May 20 – 22, 2018 | Orlando, FL
Inefficient & Costly Processes: 80%
70%59%79%
Average savings withAP automation*$15.55 to process a single invoice
$18.08 to process a T&E report
$9.34 to cut a check
28.5 from days invoice receipt to pay
Staff time spenthandling supplier calls
41%
Frequency oflate payments
31%
8% penalty,
no discounts
Duplicate ormistaken payments
3.5%
Cash loss of
.75% to 1.50%
Lack of reporting & visibility
Decentralized operations cost
Mail costs
Other
Avg time spent per day
AP Workflow Challenges: Processing Costs
May 20 – 22, 2018 | Orlando, FL
Slide 10
May 20 – 22, 2018 | Orlando, FL
Patsy PricePeterson Auto Group
Director of Operations
AP Automation Client Success Story
Follow Peterson: Peterson Auto Group Peterson Auto Group
AP Automation Client Success Story
May 20 – 22, 2018 | Orlando, FL
Slide 11
About Peterson Auto Group
May 20 – 22, 2018 | Orlando, FL
Established 1928
Sell 900 – 1,400 units/month.
Centralized accounting for 5 stores and over 3,300 vendors.
Lean accounting team—10 people.
2,500 average invoices/month.
800 supplier payments/month.
About Peterson Auto Group
May 20 – 22, 2018 | Orlando, FL
Slide 12
Peterson Goal: Handle All Payables More Efficiently
May 20 – 22, 2018 | Orlando, FL
Challenges with a manual process
Multiple store approvals on invoices (group expenses).
Moving invoices from store to store for approval.
Inability to know where invoices are in workflow.
Manually signing checks by multiple GMs.
Missed opportunities on payment discounts.
Duplicate invoices/payments.
Peterson Goal: Handle All Payables More Efficiently
May 20 – 22, 2018 | Orlando, FL
Slide 13
AP Automation: Getting Started
May 20 – 22, 2018 | Orlando, FL
Where do I start with AP Automation and how can I succeed?
Engage impacted stakeholders.
Gain executive buy-in/sponsor by understanding the budget and ROI.
Expect things to be different…better, but different.
Don’t just look at what you’re doing, look at how and why you’re doing it.
Future-proof your AP workflow with a solution that scales as your company grows.
AP automation enables and
empowers AP departments to be
more efficient, save money, and
become a profit contributor to your
company’s bottom line.
AP Automation: Getting Started
May 20 – 22, 2018 | Orlando, FL
Slide 14
Efficiency and Savings Impact on AP Workflow
May 20 – 22, 2018 | Orlando, FL
Write purchase order within ERP
Creates payable with Yooz platform• Invoice attached
with PO• Recognized in
workflow • Approved by
manager(s)
Validates and posts with ERP• Validate and post• View vendor
invoice• Invoice link/file
sent to ERP for easy visibility
Pays the vendor• View vendor invoice• See last Yooz approver• Approve payments on
mobile• Pay all vendors
electronically
Efficiency and Savings Impact on AP Workflow
May 20 – 22, 2018 | Orlando, FL
Slide 15
Increased Efficiencies Through AP Automation
May 20 – 22, 2018 | Orlando, FL
Metrics Before After Change
Entering Invoices 5 min 15 sec 95% Time Savings
1 Store Approving Invoices
(70%)
5 min 10 sec 96% Time Savings
5 Stores Approving Invoices
(30%)
45 min 5 min 88% Time Savings
Invoice Physical Touches 10 0-1 10x better
Percent of Late Payments 5% 1% 80% Improvement
Time Spent Signing Checks 2-3 hrs a day 15 min a day 87% - 91% Time
Savings
Invoice/Payment Research 1 hr 60 sec 98% Time Savings
Increased Efficiencies Through AP Automation
May 20 – 22, 2018 | Orlando, FL
Slide 16
Powerful Changes
May 20 – 22, 2018 | Orlando, FL
Robust reporting that is customized and at your
fingertips.
Personalized reporting windows.
Employees empowered with advanced
knowledge of their business.
Team members are not tied to desks; and can
approve enter invoices from anywhere, any time.
Powerful Changes
May 20 – 22, 2018 | Orlando, FL
Slide 17
Peterson Benefits from AP Automation
May 20 – 22, 2018 | Orlando, FL
Seamless ERP integration & SSO.
Significantly less data entry—data extraction auto
populates required fields.
100% vendor enablement and payment support.
85% time savings from paperless approvals.
75% average cost savings.
7 years of data stored in the cloud.
Peterson Benefits from AP Automation
May 20 – 22, 2018 | Orlando, FL
Slide 18
What Does AP Automation Success Look Like?
May 20 – 22, 2018 | Orlando, FL
SIMPLICITYSet up easily. Use quickly.
SECURITYStore docs in the cloud.
Maximize security.
Zero-Risk
Zero risk. Try for free. Stop any time.
SAVINGS
Reduce costs by 70%. Do more with less.
TRACEABILITYGain instant visibility.
Stop losing documents.
TRANSPARENCYGain instant visibility.
Stop losing documents.
What Does AP Automation Success Look Like?
May 20 – 22, 2018 | Orlando, FL
Slide 19
Connect | Learn More
May 20 – 22, 2018 | Orlando, FL
Follow Peterson: Peterson Auto Group Peterson Auto Group
@JustYoozIt Yooz IncFollow Yooz:
Justin HoldenYooz Inc
Vice President NA [email protected]
832-384-9669
Patsy PricePeterson Auto GroupDirector of Operations
Melissa HendrickYooz Inc.
Vice President [email protected]
832-334-4276
Connect | Learn More
May 20 – 22, 2018 | Orlando, FL
