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Automation and Optimization of Financial Processes. Finance Professional’s Challenge. Reduce costs Increase throughput without additional resources Decrease cost per transaction Strengthen controls to minimize risk Comply with regulations (Sarbanes-Oxley)

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Finance professional s challenge
Finance Professional’s Challenge

  • Reduce costs

    • Increase throughput without additional resources

    • Decrease cost per transaction

  • Strengthen controls to minimize risk

    • Comply with regulations (Sarbanes-Oxley)

    • Enforce consistent processes across the organization

  • Improve service to business units and suppliers

    • Increase speed, accuracy and visibility

    • Reduce burden on the line-of-business managers

Do this all at the same time and make it pay for itself


Barriers to resolution
Barriers to Resolution

  • Over 80% of all transactions are still paper-based

    • “The paperless office is one of the worst predictions in the history of technology” – Forbes, May 2001

  • ERP Systems are not designed to solve the problem

    • The “system of record”, but constructed for data not processes

    • Fails to enforce/implement “best practices” and compliance

    • Cannot address unstructured information that initiates most transactions

  • Traditional document management solutions aren’t architected for transaction processing

    • Multiple representations of the data and transactions

    • Designed for archival and retrieval

    • Customer-specific solutions delivered via custom code


World class finance performance
World Class Finance Performance

  • World Class Transaction Processing Companieshave achieved better cost results by

    • Streamlining and automating routine processes

    • Leveraging the functionality of technology to

      • Implement best practices to drive increased accuracy, integrity, and risk mitigation

      • Eliminate the paper

      • Automate workflow of electronic or imaged invoices

      • Utilize the Internet for increasing speed and availability

    • Mandating integration of their ERP applications in a unified platform

    • Build in integrity monitoring software ensures complianceand protection from fraud


170 markview solution
170 MarkView Solution

People

Process

Technology


170 markview solution1
170 MarkView Solution

  • Fixed Price Implementations

  • Depth of Experience

  • Global 2000 Customers

  • Domain Expertise

    • Best Practices

    • Business Processes

    • Shared services

Imaging

& Markup

ERP

Integration

Workflow


170 systems customers are the world s leading companies

Aerospace/Defense

Technology/Information

Financial Services

Education

  • Harvard

  • Ryerson University

  • San Diego State

  • Stanford

  • U. Pennsylvania

  • Ameriquest

  • Cigna

  • Citigroup

  • D&B

  • E-Trade

  • JP Morgan Chase

  • Marsh

  • MasterCard

  • TD Bank

  • Biogen Idec

  • Canon

  • Juniper Networks

  • NCR

  • Red Hat

  • Reuters

  • Sapient

  • SAS

  • Seagate

  • Yahoo

  • General Dynamics

  • Sandia National Labs

Manufacturing/ Supply

Public Sector/Government

Communications

  • Arrow Electronics

  • GE

  • Toyota

  • NIH

  • NYC Housing

  • Scottish Legal Aid Board

  • TSA

  • US DOT

  • US FAA

  • US CDC

  • US Coast Guard

  • AT&T

  • BellSouth

  • British Telecomm

  • Equant

  • O2

  • Verizon

  • Vodafone

Energy

  • Atmos Energy

  • Kerr-McGee

  • Plains All American

  • Smith International

  • Williams

Food/Beverage

Travel/Entertainment

  • Schreiber Foods

  • J.M. Smucker

  • Cendant

  • Gaylord

  • Maritz

  • TUI

Engineering/Construction

ConsumerGoods

  • Carillion

  • Granite

  • Macerich

  • Michael Baker Corp.

  • M.A. Mortenson

  • Network Rail

  • Suffolk

Healthcare

  • Electronic Arts

  • Mattel

  • Sony

Retail

  • PacifiCare

  • Select Medical

  • University Hospitals

  • Nordstrom

  • Sportsmen’s Warehouse

  • Starbucks

170 Systems Customers are the World’s Leading Companies


170 markview applications
170 MarkView Applications

  • 170 MarkView Financial Suite

    • Accounts Payable

    • Expense Management

    • Procurement

    • Accounts Receivable

    • General Ledger

    • Asset Management

    • Project Re-Billing

    • Human Resources



Invoice lifecycle

Review/Resolve

Capture

Approvals

Payment

Audit

Entry

Coding

Invoice lifecycle


Invoice receipt capture and entry

ERP Environment

Scan/Fax

ManualEntry

Review/Resolve

OCR

Automated Entry

Capture

Approvals

Payment

Entry

Coding

0011001 111

XML

Supplier Network

ImageAutomaticallyAttached

MarkView

Self Service Invoice

Invoice Receipt, Capture and Entry


Optimize your erp

Corporate Data

  • Organizations

  • Sets of Books

  • Hierarchies

  • Vendor Supplier Lists

  • Chart of Account Information

  • Business Rules

  • Materiality Limits

  • Etc.

Review/Resolve

Approvals

Payment

Entry

Coding

Optimize your ERP

ERP Environment

Leveraging your investment in ERP, Data and Resources with no Duplication


Extensive workflow options

ERP Environment

Scan/Fax

ManualEntry

170 Systems Context Sensitive Workflows

Review/Resolve

OCR

Automated Entry

  • PO Based

  • Non-PO Based

  • Pre-Approved

  • Self Service

  • Supplier Maintenance

Capture

Approvals

Payment

Entry

Coding

0011001 111

XML

Supplier Network

ImageAutomaticallyAttached

MarkView

Self Service Invoice

Extensive Workflow Options


Metrics analytics and reporting

ERP Environment

Scan/Fax

ManualEntry

Review/Resolve

OCR

Automated Entry

Capture

Approvals

Payment

Entry

Coding

0011001 111

XML

Supplier Network

ImageAutomaticallyAttached

MarkView

Self Service Invoice

Metrics, Analytics and Reporting

Metrics, Analytics and Reporting

170 Systems Context Sensitive Workflows

  • PO Based

  • Non-PO Based

  • Pre-Approved

  • Self Service

  • Supplier Maintenance

User Interface


Case study juniper networks
Case Study — Juniper Networks

  • 2005 Annual Net Revenue @ $2B

  • Global workforce of 4,600 employees

  • Finance located in four key theaters

    • Sunnyvale, Dublin, Hong Kong, Bangalore

  • Time-consuming and expensive process

    • Receive paper invoice

    • Look up authorizer on purchase order

    • Email invoice details to authorizer to approve invoice via email

    • File invoice waiting for approval in file drawer

    • Wait for approval via email

    • Follow up for approval if no response

  • Too Slow — Cycle time on average 8 to 9 days

  • Could Not Scale Globally

  • Receive approval

  • Pull invoice from file drawer

  • Key invoice in ERP system

  • File invoice in AP file storage

  • Execute payment

  • Pull invoice from file when inquiries received


Global juniper accounts payable metrics
Global Juniper Accounts Payable Metrics

WW Historical 2003 (Pre SSC)

WW Current 2006

# of AP Employees

# of Invoices Processed

% of Manual Invoice/PO

Monthly Trans per FTE

Length of Backlog

Minutes/Invoice

Cost/Invoice

% of Process Automated

5

62,000

45%

1000

8 to 9 days

9.2 min

$4.72

48%

12

416,817

75%

3000

2 to 3 days

3.4 min

$1.78

89%


Benefits of automation and 170 systems solution
Benefits of Automation…and 170 Systems’ Solution

  • Reduced Costs

    • Optimize cash management: Capture all discounts, eliminate penalties, introduce dynamic discounts

    • Improve productivity for Finance, Line of Business managers, employees

    • Reduce operating costs: eliminate costs of copying, filing and transporting

      all related documents

  • Strengthened Internal Controls

    • Increase control and visibility

    • Automate segregation of duties

    • Smoother audits due to on-line access to audit trails and backup

  • Improved Service Levels and Visibility

    • Self service for Line of Business managers, employees, suppliers, customers

    • Reduce cycle times to less than 5 days

    • Reduce process errors

    • Performance metrics and monitoring

Gantry Group Study: 7.4 month payback and 300% ROI



Maritz inc
Maritz Inc.

The world’s largest source of integrated performance improvement, travel, and market research services

Problem: Cost control

  • 250,000 invoices per year with expected growth of 100,000

  • Redeployed Staff — 7.5 FTE’s ($360,000/year)

  • Reduced total processing time by 20,000 person-hours

  • Increased AP productivity from 50 invoices/person/day to over 200

  • Realized over $1.5M annually in additional early payment discounts due to reduced processing time

Source: OAUG Whitepaper 2004


Select medical
Select Medical

The leading operator of long-term acute care hospitals in the US – 98 hospitals and 740 outpatient clinics

Problem: Managing rapid growth through acquisition

  • 30,000 invoices / 3,500 expense reports per month

  • Document transport cost savings: $225K/year

  • Redeploy staff: 3 people ($150K/year)

  • Filing and onsite storage eliminated: $25K/year

  • Late fees, early payment discounts: est. $100K/year

  • Other tangible benefits

    • Web-based invoice query tool – reduced AP staff time

    • Ability to conduct audits and inquiries

  • 170 MarkView: AP, Expenses, Assets, General Ledger

Source: OAUG Whitepaper 2003


170 systems leading provider of solutions that automate and optimize financial processes
170 Systems – Leading Provider of Solutions that Automate and Optimize Financial Processes

  • Depth of Experience and Domain Expertise

    • 16 years+ of Experience

    • Global 2000 customers in 40 countries

    • Extensive best practices

  • Advanced ERP Integration

    • Certified with

      • Oracle e-Business Suite

      • PeopleSoft Enterprise Applications

      • mySAP ERP Business Suite

  • Focus

    • Process automation product, not a platform

    • Configurable solution

    • Proven ROI


170 systems select customers
170 Systems Select Customers and Optimize Financial Processes


170 systems
170 Systems and Optimize Financial Processes

Leading Provider of Solutions that

Automate and Optimize Financial Processes

  • Business Process Automation Focus

  • Advanced ERP Integration

  • Depth of Experience and Domain Expertise

  • Complete Product


170 systems leading provider of solutions that automate and optimize financial processes1
170 Systems – Leading Provider of Solutions that Automate and Optimize Financial Processes

  • Business Process Automation Focus

    • Beyond document capture to focus on the entire process

    • Intelligent Mark-Ups that initiate workflow

    • 170 MarkView Express: better decisions faster forline-of-business managers

    • 170 MarkView Insight: Visibility into productivity, cash flow, and potential fraud

      for finance managers


170 systems leading provider of solutions that automate and optimize financial processes2
170 Systems – Leading Provider of Solutions that Automate and Optimize Financial Processes

  • Business Process Automation Focus

  • Advanced ERP Integration

    • Certified with

      • Oracle e-Business Suite

      • PeopleSoft Enterprise Applications

      • mySAP ERP Business Suite

    • No duplication of ERP data

    • Integrated workflow and processes

    • User input validated against ERP in real time

      (GL account codes)

    • Leverage ERP user hierarchy and single sign-on


170 Systems and Oracle and Optimize Financial Processes

  • Advanced integration with Oracle

    • Integrated user interface

    • No duplication of data

    • Leverage ERP's user hierarchy and security

  • Highest level Oracle partner (since 1990)

    • Oracle Certified Advantage Partner Program

    • Oracle Cooperative Applications Initiative (CAI)

    • Oracle Open Tools Initiative (OTI)

  • "As a Certified Advantage Partner, 170 Systems continues to bring great value to our mutual customers through 170 Systems’ integrated product offerings.”

    • - Doug Kennedy

    • Vice President, Worldwide Alliances, Oracle


170 systems leading provider of solutions that automate and optimize financial processes3
170 Systems – Leading Provider of Solutions that Automate and Optimize Financial Processes

  • Business Process Automation Focus

  • Advanced ERP Integration

  • Depth of Experience and Domain Expertise

    • Demanding Global 2000 customers

    • Global experience: shared service centers, off-shoring, outsourcing

    • Top-tier ERP experience: SAP, Oracle, and PeopleSoft

    • Proven ROI: 7.4 months average payback

    • Best practices in Finance

    • Strengthening controls


170 systems leading provider of solutions that automate and optimize financial processes4
170 Systems – Leading Provider of Solutions that Automate and Optimize Financial Processes

  • Business Process Automation Focus

  • Advanced ERP Integration

  • Depth of Experience and Domain Expertise

  • Complete Product

    • A true software product: certified, documented, upgradeable

    • More than AP – a full Financial Suite

    • End to end automation: imaging, OCR, e-invoice, workflows, exception processing,

      supplier portal, analytics

    • “Fixed price” implementation

    • Complete portal


The non po invoice process

“Get Next” and Optimize Financial Processes

Auto Document

Association

Read / Write

access to

Chart of Accounts

Use of ERP

Hierarchy

Hold released

in ERP

Paper & Scan

Fax

Header

Information

Final AP Review

Electronically Forwarded and Recorded

Code

The Non-PO Invoice Process


The self service invoice process

ERP and Optimize Financial Processes

Hierarchy

Hold released

in ERP

Read / update

access to

Chart of Accounts

Auto Document

Association

Header & Coding

Information

(by field)

Fax Back-up

Final AP Review(if desired)

Record created in ERP

Liability captured

The Self Service Invoice Process


Potential payment request expense processing future state

Enter and Optimize Financial ProcessesExpense

Report Detail

Automatic Association with Report

Payables

and

Audit

PrintBar-Coded Cover Sheet

FaxReceipts

Routing

Potential Payment Request: Expense Processing Future State


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