Payback & ROI of Paperless Accounts Payable Processing & Invoice Automation

Improving your accounts payable process can dramatically reduce and eliminate many of the manual steps required to enter, route, process, approve and pay supplier invoices. Many organizations have leveraged systems, solutions, processes and technologies to improve their accounts payable and with varying levels of success. There is no shortage of solutions when investigating and researching the options available.

The following information are actual business cases and the results achieved through accounts payable process improvements and invoice automation.

We surveyed three of our top clients processing a variety of invoices including PO and NON-PO invoices, 2 and 3 way-matching, varying numbers of approvers and utilizing different ERP systems.

                                                            
                                                            Business Case #1
                                                            Drivers for Improvement: Slow approvals, lost invoices, lack of visibility, too much paper 
                                                            Invoice Volumes: 30,000 invoices annually
                                                            Process Requirements: multi-level approvals, email reminders and alerts, visibility to invoices
                                                            ERP System: Oracle Financials
                                                            Number of Approvers: 20 - 30 
                                                            Pre-Improvement Cost to Process: $15.00/invoice
                                                            Post-Improvement Cost to Process: Less than $2.00/invoice
                                                            Payback: Less than 6 Months


                                                            Business Case #2                                                            
                                                            Drivers for Improvement: Excessive data entry, keying errors, duplicate payments, slow approvals
                                                            Invoice Volumes: 40,000 invoices annually
                                                            Process Requirements: multi-level approvals, improved exception controls, month-end reporting
                                                            ERP System: SunGard Financials                                                     
                                                            Number of Approvers: 40 - 50                                   
                                                            Pre-Improvement Cost to Process: $15.00/invoice                                                  
                                                            Post-Improvement Cost to Process: Less than $2.00/invoice
                                                            Payback: 6 Months


                                                            Business Case #3                                                            
                                                            Drivers for Improvement: Cost reductions, elimination of manual data entry,  routing and approvals
                                                            Invoice Volumes: 180,000 invoices annually
                                                            Process Requirements: 3-way matching, simplified invoice coding, email reminders & alerts
                                                            ERP System: QAD                                          
                                                            Number of Approvers: 300+                                   
                                                            Pre-Improvement Cost to Process: $15.00/invoice                                                  
                                                            Post-Improvement Cost to Process: Less than $2.00/invoice
                                                            Payback: Less than 1 Year
                                                                                                                                                                                                                                                                                                                                                                                                                                            

All three of these business case clients continue to realize significant additional savings as a result of the accounts payable process improvements realized by utilizing Vision360 Enterprise. To learn more about "Paperless Accounts Payable Processing and Invoice Automation" feel free to attend one of our webinars on this subject. Register...here.

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