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The Next Step in Financial Management and Automation Neil Robertson CEO Compleat Software Limited.

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Presentation on theme: "The Next Step in Financial Management and Automation Neil Robertson CEO Compleat Software Limited."— Presentation transcript:

1 The Next Step in Financial Management and Automation Neil Robertson CEO Compleat Software Limited

2 A lifetime of learning 1976 Trainee AP clerk – Industrial Acoustics 1979 British Olivetti 1983Team Systems Group 1989Misys Plc 1995Great Plains (MS Dynamics GP) 2008Compleat Today 5 years and £3m invested to date TomorrowIt is already here

3 Quick Survey Purchase order / purchase invoice approval process – Manual – Email / Excel or equivalent – Full automated integrated into Sage Percentage of invoices received that have an official Purchase Order – Less that 20% – Less than 50% – Less than 75%

4 Purchase to Pay Automation So why is this function still predominately manual? – Current process works OK (suppliers get paid) – Budget Holder’s responsible for own spend (not a finance problem) – Budget Holders will never co-operate – Too many people, so too hard to implement – The cost of automation is not justifiable – It is not finance department’s responsibility – Too many other priorities – Never really considered it Looking at the bigger picture – The B2B world is changing – It is going to impact your business – Many organisations have already taken the first step

5 The Bigger Picture If automation was both easy and affordable….

6 The Bigger Picture What has changed? – Focus on reducing the cost per financial transaction Automation of customer / supplier interaction Remove the paper Increase speed and productivity Increase accuracy Enable timely payment – Available from a growing number of suppliers Growing Adoption It will become the default method of trading Simply huge productivity gains Prices will reflect levels of automation adopted “Premium prices” for manual processes

7 Requisition Requests to purchase Requisition Requests to purchase Purchase Order PO Document Purchase Order PO Document Receipting Goods / Services Receipting Goods / Services Purchase Invoice Capture and Approval Purchase Invoice Capture and Approval Sage Software Paper / Email Verbal Orders Paper / Email Verbal Orders The Bigger Picture Website Online purchasing Website Online purchasing Sales Order Processing PO Document Sales Order Processing PO Document Delivery Goods / Services Delivery Goods / Services Sales Invoice Production Timeliness & Accuracy of Payment Supplier ERP Software Quality of PO Quality Delivery Invoice Accuracy Invoice Accuracy

8 Budget Holders “Tool Set” Very good at their job – How many are trained in “procurement” Because they are all Procurement Managers – Is there a standard process for Formal approval process of every purchase made Maintaining accurate budget availability Maintaining records of goods / services supplied Reconciliation of PO to PI pre-approval Auditable validation of reconciliation – Simple process for Credit Note requests They will just pay overcharged amounts – Too Hard!

9 Requisition Requests to purchase Requisition Requests to purchase Purchase Order PO Document Purchase Order PO Document Receipting Goods / Services Receipting Goods / Services Purchase Invoice Capture and Approval Purchase Invoice Capture and Approval Sage Software Supplier Website (Punch Out) Supplier Website (Punch Out) Supplier Portal Catalogue Management Supplier Portal Catalogue Management workflow The Bigger Picture Website Online purchasing Website Online purchasing Sales Order Processing PO Document Sales Order Processing PO Document Delivery Goods / Services Delivery Goods / Services Sales Invoice Production workflow 100% Accurate Payment 100% Accurate Payment Supplier ERP Software Quality of PO Accuracy of PO Zero Cost Processing of PO Quality of PO Accuracy of PO Formal Order With terms.PDF & Attachments Formal Order With terms.PDF & Attachments Auto Acknowledgement Auto Receipting Auto Receipting Electronic / OCR Invoice Electronic / OCR Invoice ZERO TOUCH ZERO TOUCH

10 The Bigger Picture This is ALREADY standard best practise – All larger organisations – Growing number of smaller organisations The trend of adoption will continue – Removing the need to create paper – ERP to ERP straight through processing – It will replace scanning and OCR methodologies It is founded on – Digital Purchase Orders – Purchase to Pay functionality – NOT Document Management and OCR of purchase invoices

11 Purchase to Pay Benefits Extending your ERP Functionality

12 Budget Holders Benefits Primary Requirements – Simple and fast Purchase Order process – Fast and effective formal & auditable approval process – Real time budget availability information – Simple and fast purchase invoice approvals – Suppliers get paid on time Current manual processes – Slow and time consuming – Process often ignored (no formal PO) – Manual budget validation – Slow approval process – Tedious Purchase Order v Purchase invoice reconciliation – Looks right – gets approved for payment

13 Suppliers Benefits Formal purchase orders – Clear instructions – Clear terms of supply and payment – Payment date is about execution and accuracy of billing Prefer Customers with good P2P controls – Suppliers know PO number is essential on Sales Invoices – Over billing leads to delays and credit notes – Accurate billing enables fast approvals – Good customers always pay on time – Good customers get preferential treatment (and pricing)

14 Finance Department Benefits Current processes – No visibility of spend until purchase invoice received /approved and posted – Budgets based on last month’s management accounts – Paper intensive, slow, things get lost – Supplier payments late P2P Automation – Full visibility of spend from “requisition” – 100% automated and auditable PO approval processes – Full commitment accounting – Fully automated budget control – 100% control over suppliers – 100% automated Purchase Invoice approvals

15 Conclusions 95% of P2P users are NOT finance department users – 65% are Requisitioner's – 30% are Approvers Biggest beneficiaries of P2P are Budget Holders Finance benefits are delivered by default Focus on Budget Holders – Extremely fast and simple requisition generation – Fully automated budget and approval process From any connected device / email 24 x 7 – Auto reconciliation on PI capture of PO / Receipt / PI, highlights errors – Extremely fast PI approval for those that are correct – Automated control of Credit Note requests for those that are wrong – Final Approval – POSTED direct to Purchase Ledger for payment

16 Conclusions Budget Holders – make their budget go further – Simple to get competitive quotes – Consolidation of suppliers for better pricing – Contract Management Review prior to termination date Alternative quotes – 100% validation of purchase invoice to purchase order Credit notes! Productivity savings Spend Visibility and Control

17 Conclusions It is only a case of WHEN your business automates P2P – How much it costs v how much you would save Compleat priced to be affordable / justifiable – How much of your resource it requires 50 user sites – about 2 - 3 days – How easy it is to Use Make up your own mind – have a look at the break out – How many steps you take Document Management for PI approval is a dead end

18 Compleat Overview

19 Compleat Purchase to Pay Single UI / transaction for 100% visibility – Quotation requests – Requisitions – Budget availability – Approvals – Purchase Order Generation – Receipting – Purchase invoice capture with auto reconciliation – Approvals – Accounting software posting – Dashboards and Reporting

20 Compleat P2P Deployment Options – 100% browser application – any device 24 x 7 – Cloud and / or local perpetual license Pricing – To remove the cost and complexity of P2P automation – Extremely easy to use – Very Fast to deploy – Self-sufficiency post live – Starts at £15 per user per month – reducing as user count increases Affordable and financially justifiable for all

21 Selection of customers Hospitality Property Finance Marketing Charity Education Health

22 Requisition Requests to purchase Requisition Requests to purchase Purchase Order PO Document Purchase Order PO Document Receipting Goods / Services Receipting Goods / Services Purchase Invoice Capture and Approval Purchase Invoice Capture and Approval Sage Line 50 / 200 / 500 / 1000 Software OCR / EDI Integration Electronic Purchase Invoices OCR / EDI Integration Electronic Purchase Invoices Supplier Website (Punch Out) Supplier Website (Punch Out) eTendering Software eTendering Software Supplier Portal Catalogue Management Supplier Portal Catalogue Management Real Time Data “Look Up” Real Time Data “Look Up” Real Time “Posting” Real Time “Posting” Full Audit Trail workflow 3 rd Party Integration Data Export API 3 rd Party Integration Data Export API Compleat Dashboards & Reporting Compleat Dashboards & Reporting Compleat Suite

23 Thank you for your time


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