Fuel your P2P with high quality e-invoice data.pdf
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This document summarizes a webinar presented by Basware and Fluxym on fueling procurement-to-pay processes with high quality e-invoice data. The webinar covered how organizations can automate AP processes through static rules and dynamic AI/ML, examples of insights that can be gained from invoice data, and compliance models for e-invoicing in different regions. It also provided an overview of paper, PDF, and e-invoices and recommended focus areas for organizations looking to improve invoice processing such as getting invoice receiving channels set up, ensuring supplier data quality, and reviewing invoice management processes.
Fuel your P2P with high quality e-invoice data.pdf
- 1. Webinar with Basware and Fluxym F U E L Y O U R P 2 P W I T H H I G H Q U A L I T Y E - I N V O I C E D A T A
- 2. 2 Y O U R S P E A K E R S Gustav Gnosspelius Senior Technical Presales Consultant Basware François Chevillotte Consultant Fluxym
- 3. 3 01 You want to automate? Here is step 1 02 Trailblazers Step 1 in practice 03 Invoices today Compliance is a hot potato Live Q&A to address your questions AGENDA 04
- 4. 4 Are you using data for improving your AP processes today? P O L L # 1 : 1. Yes, fully 2. Yes, to some extent 3. No, but we want to 4. No, there is no need 5. Other
- 5. 5 5 • Save money by automation • Manual processes cost • Two ways • Static automation through predefined rules • Dynamic automation through AI/ML (artificial intelligence/machine learning) Y O U R W A N T S
- 6. 6 T H E F L Y W H E E L E F F E C T More data 100% visibility Optimise processes Increase business
- 7. 7 I N S I G H T E X A M P L E S F O R A P P R O C E S S • Why invoices are failing • Prevent overpayment • Optimise invoice timing • Get automated suggestions • Have a predictive analysis
- 8. 8 P O L L # 2 : What is hindering you from improving your data quality? 1. Internal processes / Resistance 2. Unwilling suppliers 3. Cost / Resources 4. Knowledge 5. Systems 6. Other 7. We have full data quality already
- 9. 9 W H A T D O O U R T O P C U S T O M E R S D O ? • Use a highly automated accounts payable process • Very few or no manual processes • Process electronic invoices straight through • No human intervention • Automatically capture all early-payment discounts • Provide suppliers with self-service real-time visibility • Status of invoices and payments • Process invoices in one day or less
- 10. 10 10 Paper invoice PDF invoice E-invoice Format Printed on paper PDF XML or XML + PDF Typical delivery method Post, in-person Email, file-transfer Server-to-server Generated in AR-system, Word AR-system, Word AR-system, Portal Processing by buyer Manual key-in or scanning + OCR OCR or data extraction Imported directly into AP-system H O W I N V O I C E S C A N B E T R A N S F E R R E D Lower cost Faster Better data
- 11. 11 T H E D I F F E R E N C E I N E - I N V O I C E C O M P L I A N C E M O D E L S • Post-audit view to compliance • Freedom to choose e-invoicing method • Mandatory e-invoicing • Technical integration requirements NORTH AMERICA AUSTRALIA & NEW ZEALAND EU B2B EU B2G LATIN AMERICA ASIA, RUSSIA, TURKEY VARYING COMBINATION OF LEGAL, TECHNICAL AND PROCESS REQUIREMENTS POST AUDIT MODEL (evidence) CLEARANCE MODEL (control) ITALY
- 12. 12 POST AUDIT MODEL (EVIDENCE) 1 2 3 4 4 order goods invoice supplier buyer government tax declaration tax declaration
- 13. 13 1 2 3 5 POST AUDIT MODEL (EVIDENCE) CLEARANCE MODEL (CONTROL) 4 1 2 3 4 4 order goods invoice supplier buyer government tax declaration tax declaration order goods supplier buyer government invoice invoice HYBRID MODELS
- 14. 14 C O U N T R Y M O D E L S Poland • Mandatory go-live Jan 1st, 2024 • Several mandatory invoice fields • Buyer needs to collect invoices from KSeF • Responsibility mainly on sender side France • Mandatory go-live 2024-2026, depending on company size • E-invoice mandatory • Invoice transfer through network or through government portal • Responsibilities both on sender and receiver side
- 15. 15 I N T R O D U C I N G T H E N E W G L O B A L E - I N V O I C I N G C O M P L I A N C E M A P • Expert level knowledge on e-Invoice compliance requirements in critically important markets • Available in a single browser based free-to-access tool • Continuously kept up-to-date by Basware’s compliance experts • Simply visit and bookmark www.basware.com/compliance-map
- 16. Get invoice receiving channels • Basware Network • EDI • Supplier portal… How to get ready? What to focus on first? Touchless invoice processing Ensure Supplier Data Quality • Cleansing & Update • Master Data Review Invoice management processes • Automatic matching • Approval workflows • ERP integration
- 17. T H A N K Y O U