More Related Content
Similar to Diri 6262013 (20)
More from RedChip Companies, Inc.
More from RedChip Companies, Inc. (20)
Diri 6262013
- 1. Direct Insite Corp. Copyright © 2013
COMPANY CONFIDENTIAL
Cornerstones of AP Transformation
Matthew Oakes
- 2. 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
- 3. 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
- 4. Direct Insite Corp. Copyright © 2013
COMPANY CONFIDENTIAL
The Objective
June 25, 2013
Source: PayStream Advisors
- 5. 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
- 6. Direct Insite Corp. Copyright © 2013
COMPANY CONFIDENTIAL
Costs of a Paper-Based Environment
- 10. 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
IntelligenceNetwork
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
- 11. 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
- 12. 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
- 13. 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
- 14. 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
- 15. 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
- 16. 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
- 17. 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
- 18. 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
- 19. 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
- 20. Direct Insite Corp. Copyright © 2013
COMPANY CONFIDENTIAL
Thank you!
Matthew Oakes
Direct Insite
matthew.oakes@directinsite.com