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