Increase the value of Accounts Payable Presenter: Daniel Kimpton

Agenda  Introduction  Benefits  Solution Overview  Live Demonstration  Pricing & Free Trial Offer  Q&A

Introduction

About Us  Founded 2013  Parent company ‘Cogent Consulting’ have been implementing Invoice Automation solutions for 10 years  As a result customers had more people processing statements than invoices  Developed a solution to solve the problem based on customer requirements  Customers across the globe

The Problem with Manual Statement Recons  Manual process is very time consuming  Can only reconcile small No. of suppliers  Tedious & un-popular task with users  High volume of invoice status queries from suppliers  Invoice processing errors not identified on a timely basis leading to late payments and account stops

 Ensure all credit notes and invoices have been received  Identify invoices on the ledger that are not on the statement  Identify invoice entry mistakes  Invoice # - Increased risk of duplicates  Invoice/Credit wrong way round  Incorrect Amounts  Reduce phone calls from suppliers by sharing status  Accurate supplier balances  Best practice financial controls Why reconcile statements?

Benefits

Automating the Process  More time to:  Process higher volume of statements  Manage the exceptions  Resolve exceptions to pay suppliers on time  Provide suppliers with invoice status (portal and )  More accurate supplier balances  Improve Controls = More Profit  Fewer duplicates  Never miss a credit note  Identify incorrect values  Maximise early payment discounts  Identify miss-postings before they are paid

Automating the Process contd.  Better role for Accounts Payable users  Headcount savings or do more with same resources  Raises the profile of AP with the CFO  Enables you to be more proactive with suppliers  Improve supplier relationships  Reduces potential cost of Audit Recovery

Why chose Statement-Matching.com?  Cloud based ~ No IT and system ready to use in 3 days  Developed based on feedback from AP users  Fully automated reconciliation – Exception only processing  Works with paper, pdf and excel statements  Supplier’s can access invoice status, exchange messages and upload their own invoices (optional)

Solution Overview

 Periodic feed from your ERP system(s)  Paper and PDF statements uploaded via Managed Service  Suppliers or AP users can upload Excel statements directly Getting data into the system

 New statements automatically matched (by vendor and company)  Existing statements automatically re-matched on upload of new ERP data  Overall status for statement plus status for each line  Always looking at most recent statement  Previous statements viewed in statement history  Reports automatically updated on upload of new ERP data Principles

What does it look like for AP?

Dashboard – Key Reports & Statuses

Search Screen

Search Results

Reconciliation Example – Missing Credit Note

Let’s Look at Some Scenarios 1.Un-paid items on system missing from statement 2.Fully Matched with Data Mismatches – Multiple errors 3.Missing credit note

Let’s Look at Some Scenarios 1.Un-paid items on system missing from statement

Un-paid items missing on statement

Un-paid invoice on the ledger dated prior to the invoices in the statement. Un-paid items missing on statement

Let’s Look at Some Scenarios 2. Fully Matched with Data Miss-Matches

Fully Matched with Data Mismatches

Multiple Errors

Let’s Look at Some Scenarios 2. Missing Credit

Incomplete Matching

Missing Credit Note

PDF Report to Vendor

Copy of PDF Report the Vendor Sees

Add Notes to denote action taken Add notes & view existing notes

Supplier Self-Service Option

Key Features  Invite suppliers via Statement-Matching.com  Suppliers can view invoice status  Suppliers can submit messages against documents, which are visible to Statement-Matching.com users  Suppliers can upload their own statements in Excel or PDF and Scanned images  Suppliers can view reconciliation results

Supplier Portal Dashboard  Suppliers have a single login to view invoice status from all customers who use Statement-Matching.com

My Invoices View

Supplier submits message against document

AP Replies to Message via Statement-Matching.com

Suppliers can upload their own statements

Supplier maps Excel columns to correct fields

Suppliers can view reconciliation immediately

Reporting

Reports can be run by company and vendor, sorted and summed Reports can be used to list and manage statements by error reason. Statement Reporting

Supplier Reporting

Share statement audit reports with vendors

Internal/External Audit Report Audit Reports:  Statement totals  Payment totals  Balances  Copy of reconciliation and image appended

Pricing & Free Trial

Pricing Pricing comprises two components: 1.Monthly Subscription – Fixed monthly cost based on annual volume of invoices processed. 2.Monthly Statements Processed – Variable monthly cost based on volume of statements processed. Commercials: 4 week free trial 30 day rolling agreement

In Summary  Enables you to reconcile more statements  Improve profits  Proactive with suppliers = Fewer queries  Cloud based ~ System available to use in 3 days  Get suppliers to reconcile their own account via portal  4 week free trial

Any Questions? Take advantage of a 4 week free trial