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Direct Insite Corp. Copyright © 2013 COMPANY CONFIDENTIAL
Cornerstones of AP Transformation
Matthew Oakes
Direct Insite Corp. Copyright © 2013 COMPANY CONFIDENTIAL
Corporate Overview
Established
Corporate Headquarters
Customers
Global Experience
Certifications
Primary Offering
2001
Ft. Lauderdale, FL
Global 3000
Invoices On-Line (IOL) for AR & AP Automation ePayment Gateway Services
Direct Insite Corp. Copyright © 2013 COMPANY CONFIDENTIAL
Why Are You Here?
7 Common Problems in AP
1. Multiple invoice submission formats 2. Lack of visibility into cash flow 3. Manual data entry 4. Too much paper 5. Complex workflow approval processes 6. AP & procurement not aligned 7. Difficulty integrating with existing systems
The answer : an end-to-end solution
Direct Insite Corp. Copyright © 2013 COMPANY CONFIDENTIAL
The Objective
June 25, 2013
Source: PayStream Advisors
Direct Insite Corp. Copyright © 2013 COMPANY CONFIDENTIAL
The Reality in Large Enterprises
June 25, 2013
Sources: Aberdeen Group, IFO, Glenbrook Partners
Only 25% of firms can auto-post
Only 45% of invoices
arrive as e-invoices
Only 46% of firms use front-end scanning
Only 19% of firms use OCR/ICR
Direct Insite Corp. Copyright © 2013 COMPANY CONFIDENTIAL
Costs of a Paper-Based Environment
Direct Insite Corp. Copyright © 2013 COMPANY CONFIDENTIAL
The Case for AP Transformation
Direct Insite Corp. Copyright © 2013 COMPANY CONFIDENTIAL
Market Trends
June 25, 2013 8
Direct Insite Corp. Copyright © 2013 COMPANY CONFIDENTIAL
Market Trends
June 25, 2013 9
Direct Insite Corp. Copyright © 2013 COMPANY CONFIDENTIAL
AP Transformation Cornerstones
June 25, 2013 10
Invoices On-Line™
Company Profile Vendor
Management E-Invoicing Workflow
processing
Payment Processing
Spend Management/
Business Intelligence Network
Participation Banks & Payment
Gateway
Dynamic Discount
Management
Supply Chain Financing
Scan & Capture
Dynamic structure · Supports complex business patterns & functions · Facilitates data analysis & decision-making · Integrates and leverages ERP or financial systems
Direct Insite Corp. Copyright © 2013 COMPANY CONFIDENTIAL
Scan and Capture
Pain Point Costs/inefficiencies associated with paper invoices
AP Transformation Scanning & capture of paper/fax/emailed invoices
Benefits Lower transaction costs, less keying, faster turnaround, fewer errors
ROI Up to 70% reduction in cost to process a paper invoice: IFO
Direct Insite Corp. Copyright © 2013 COMPANY CONFIDENTIAL
Company Profile and Vendor Management
Pain Point Difficulty managing company/vendor information
AP Transformation Automated data collection & vendor management
Benefits Lower data mgmt. costs, streamlined compliance, higher e-invoicing adoption
ROI Reduction of 1-2 FTEs: customer experience
Direct Insite Corp. Copyright © 2013 COMPANY CONFIDENTIAL
e-Invoicing and Workflow Processing
Pain Point Paper invoices cost an average of $8.65 per trans. to process
AP Transformation Electronic invoice, purchase order and workflow processing
Benefit Lower costs, faster turnaround, fewer errors, more straight through processing
ROI 24%-50% reduction in cost to process an invoice: customer experience
Direct Insite Corp. Copyright © 2013 COMPANY CONFIDENTIAL
Payment Processing
Pain Point 61% of business payments still made by paper checks
AP Transformation PCI Compliant Payment Gateway: ACH and Cards
Benefits Reduced transaction costs, accelerated cash flow, facilitated discount options
ROI It costs $5-$35 to process and pay a paper invoice
Direct Insite Corp. Copyright © 2013 COMPANY CONFIDENTIAL
Spend Management & Business Intelligence
Pain Point Lack of visibility into corporate spending
AP Transformation Spend management/ business intelligence
Benefits Universal company profile management, better spend analysis, contract compliance
ROI 75% of best-in-class AP orgs have tools for managing cash against expenses
Direct Insite Corp. Copyright © 2013 COMPANY CONFIDENTIAL
Discount Capture
Pain Point Missed opportunities for supplier discounts
AP Transformation Ability to agree to preset discount terms or dynamically negotiate terms
Benefit Lower cost of goods from realizing discounts, reduced payment processing costs
ROI Capturing early payment discounts is important to 80% of companies
Direct Insite Corp. Copyright © 2013 COMPANY CONFIDENTIAL
Supply Chain Financing
Pain Point Suppliers want/need faster cash flow
AP Transformation Choice of account financing options
Benefit Helps buyers and suppliers meet working capital and cash flow goals
ROI Financially stronger suppliers, enhanced supplier relationships
Direct Insite Corp. Copyright © 2013 COMPANY CONFIDENTIAL
The Benefits of AP Transformation
June 25, 2013 18
Enterprises who have fully-automated all facets of accounts payable, such as invoice receipt, approval workflow and payment-scheduling processes, have experienced the following benefits:
60% lower invoice-processing costs than
organizations without automated A/P processes
30% higher visibility into organizational cash flow
Direct Insite Corp. Copyright © 2013 COMPANY CONFIDENTIAL
Business Drivers Automate AP invoice processing Reduce inquiries from suppliers Improve relationships with suppliers
Business Results Reduced Costs – Reduced average cost to process an invoice 24% Improved Staff Efficiency – Receives 95% of its invoices electronically and
posts 75% of its invoices without operator intervention Increased Productivity – Reduced work flow time from a minimum of four
days to 12 hours for electronic invoices and 2.5 days for paper Enhanced supplier relationships – Reduced supplier inquiries by 67%
“Invoices On-Line has proven to be an effective tool in the transformation of our Accounts Payable automation initiatives with a goal of reducing paper handling, invoicing costs and supplier inquiries.”
Roderick Fields, GSS NA Director of Disbursement Services
Customer Profile: • Shared services environment
for the global powerhouse
• Supports more than 50 Siemens business units
• Processes over 2.4 million invoices per year
• 60,000 suppliers
Siemens Shared Services Case Study
Direct Insite Corp. Copyright © 2013 COMPANY CONFIDENTIAL
Thank you!
Matthew Oakes Direct Insite
matthew.oakes@directinsite.com
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