The Secret to an Efficient Accounts Payable Department
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The document outlines Kodak Alaris's offerings and evaluation process for various scanning and document capture solutions designed to improve efficiency across different sectors. It highlights key functionalities of the Abbyy FlexiCapture for invoices, emphasizing benefits like automated data processing and workflow integration. Additionally, it addresses common questions related to OCR accuracy and document separation capabilities.
The Secret to an Efficient Accounts Payable Department
- 6. GOAL
- 8. Joseph Ogborn Account Executive, Mid-Atlantic joseph.ogborn@kodakalaris.com 215-292-6292
- 9. © Kodak Alaris 2015 A company born from one of the world’s most iconic brands
- 10. © Kodak Alaris 2015 1_Statement Divider Light Grey 3,500 employees Operating in 27 countries $1.2B revenue Passionate about using technology to improve people’s lives across the planet
- 11. © Kodak Alaris 2015 1_Statement Divider Light Grey HEALTHCARE | GOVERNMENT | FINANCE | INSURANCE | EDUCATION | RETAIL | MANUFACTURING
- 12. © Kodak Alaris 2015 Distributed Scanner Portfolio i2900 i3200/i3400/3500 i3250/i3450 ScanMate i940 ScanMate i1150 ScanMate i1150WN i2420 i2620 / i2820 Scan Station 710/730EX i1190/i1190E i1190WN
- 13. © Kodak Alaris 2015 Production Scanner Portfolio i4250 / i4650 / i4850 i5250 / i5650 i5250V / i5650V i5850 i5850S New
- 14. © Kodak Alaris 2015 Information Management Portfolio Scanners Serving a wide range of needs from the demanding production environments most to the desktop – Production – Distributed and networked – Picture scanning systems Software Improving efficiency and engaging customers – Document capture software – Web-based capture Services Preventive & corrective maintenance – Onsite service – Advanced unit replacement – Remote support Professional services – Installation, configuration & training – Workflow and system optimization – Project management Managed Content Services Multi-Vendor Services
- 15. © Kodak Alaris 2015 Scanning Volume Documents not pristine or straight forward Customer looking to do more than scan to email, folder etc. Streamlined work flow.
- 16. © 2014 Kodak Alaris Inc. The Kodak trademark and trade dress are used under license from Eastman Kodak. Kodak Alaris Confidential Information Overview • KA owns product • KA will send product to end customers so they can try it in their own environment Process • Account Manager / ISR submits Eval Request Form • KA will confirm request and ship-to address • Scanner ships within 48 hours of customer confirmation (if scanner is available) • Evaluation period is 2 weeks • Kodak Alaris pays all shipping charges Evaluation Program
- 17. THANK YOU
- 19. Todd Pratt ABBYY FlexiCapture for Invoices Product Overview Sr. Sales Engineer
- 20. ABBYY FlexiCapture for Invoices ● Eliminates paper exchanging hands and costly manual data entry and brings in efficient automated invoice processing ● Early capture of invoices ● Centralized extraction and validation of data ● Straight-through processing for PO-based invoices and automated identification of invoices requiring approval ● Works with your existing AP and ERP systems Based on the powerful ABBYY FlexiCapture platform
- 21. Benefits for the AP Department Better Visibility into Outstanding Payments AP department is made aware of invoices as soon as they arrive Lower Cost per Invoice Replace manual keying paper exchange with automated electronic processing Capture at the Point of Entry Capture in the mailroom, finance department, or in the branch office One Solution for Paper and Digital Paper, faxed and PDF invoices are processed in the same workflow Improve Quality of Data Automated capture and validation of data provides better quality than manual keying Empowers Approval Workflow Define the workflow based on automatically extracted data
- 22. Invoice Capture with ABBYY FlexiCapture for Invoices
- 23. Key Functionality ● Multi-channel capture from scanners, fax, email and mobile devices ● Extracts header, footer and line items and validates the data ● Offers PO matching and straight-through processing ● On-the-fly training to improve data quality in production ● Supports US and European invoices in many languages ● Extendable to new fields and document types
- 24. Automatic Supplier And Buyer Identification ● Supplier and buying BU information is checked against your master data in the ERP ● Suppliers and buying BUs may be identified by name, address, phone number, website ● Multiple addresses and/or name spelling variations for the same supplier/buyer are allowed Database Lookup
- 25. Pre-configured Extraction of Data Invoice number and date Name and address of the buyer BU Name and address of the supplier Delivery date Purchase order data Line items: description of goods, quantity, unit and total price Currency and total
- 26. Purchase Order Matching And Line Item Extraction ● PO matching is done on a header and/or line item level ● Multi-level comparison is done with the master database (by number, total amount, vendor name, etc.) ● Invoice line items can also be visually compared to the purchase order details ● Line items can be extracted from non-PO invoices too
- 27. 27 Touchless Processing ● Invoices that have passed all validations and matched a PO can be posted in the ERP system, skipping any manual review Input Recognition & Validation Data review Approval and Posting Touchless processing
- 28. ● Training by the administrator during setup ● For a proof of concept ● For the initial configuration of the system ● Training by the operator during production ● For improving data capture from new supplier invoices or invoices with changed design ● Can be controlled by the administrator or prohibited altogether Training (1 of 2)
- 29. Learning (2 of 2) ● On-the-fly learning allows the operator to refine data detection and teach the program to work with new suppliers 2. Click “Train” button 1. Select the correct area on the image
- 30. Delivery of Invoice Data and Images ● Transaction-ready data and images are delivered to your ● BPM, ECM and approval workflow systems ● ERP systems ● Electronic archives ● Databases
- 31. Multi-Country System ● Predefined extraction from: ● United States ● Germany, Austria, Switzerland ● UK ● France ● Spain ● Benelux ● Over 180 other countries or languages can be added!!
- 32. Dreaded question #1: “What is the OCR accuracy?” What kind of accuracy can I expect from this system? More times than I can count I’ve encountered companies that base their ROI on the percentage of “no touch” documents they expect to achieve. Here are some of the factors that go into that equation: 1) Image quality 2) Paper quality 3) Type of print 4) Digital Image Cleanup 5) Capture resolution 6) Extraction method 7) Business Rules 8) OCR engine
- 33. What is the REAL goal of AP capture? Most customers think of OCR accuracy as the main goal of a capture system. Well, it’s not. Efficiency is the main goal. OCR is simply one of the tools used to implement an efficient process. Equally important considerations are: ● Streamlined ingestion ● eMail Monitoring ● Mailroom process ● Distributed environments ● Dealing with outliers ● What happens when there is an exception? ● Moving processes up front ● The later an issue is found, the more expensive. ● ERP Data ● How clean is the Vendor Master file? ● How good is my PO Process to predict invoice data?
- 34. Dreaded question #2: “Can the software separate invoices automatically?” ● Short answer, Yes. ABBYY can be configured to extract key values that uniquely identify an invoice (Inv#, Inv Date, Total, Etc.); examine all of the images in the batch and determine between which pages those values change, then separate the pages into documents according to the changes.
- 35. Dreaded question #2: “Can the software separate invoices automatically?” ● Long answer, it’s not generally the most efficient approach. ● Why? Because it requires a second touch-point to ensure separation happened properly. ● When is it appropriate? ● High quality, or digital images ● Predictable formats
- 36. Dreaded question #3: “Can I capture line items from NPO invoices?” We can perhaps capture line data from those NPO invoices that have a defined table structure, but capturing that data does not necessarily lead to efficiency gain.
- 37. Invoice Number Vendor Name Purchase Date Subtotal Grand Total Payment Terms • 10010 • ABC, Inc. • 30 January 2008 • $ 6,014.81 • $ 6,025.88 • Net 30 Days Capture Classify Extract Validate DeliverCapture Classify Extract Validate Deliver Capture documents from central and distributed locations Automatically identify, organize, and route different document types Index or extract business-critical data based on the document type Ensure data accuracy using business rules, database lookups, and manual correction Deliver images and data to Workflow, ERP, ECM, BPM, or other systems E-mail Faxes Scanners eForms Network Directories MFPs Demonstration
- 38. Now let’s address your questions!