transcendAP customer presentation
- 1. David Janowski, Business Development Manager djanowski@optimags.com | 609 213 9915 Business Process Automation for Accounts Payable and Beyond for
- 2. Lack of Visibility • Cash Flow • Process Efficiency • Compliance INVOICES ERP and ECM Vendor Master / Chart of Accts Payment Processing Archive / Payment History PAPER The Need for AP Automation
- 4. Single Technology Platform for Improved Business Processes Interact DigitallyCapture Information Automate Processes Manage Content Mobile Integration Analytics eSignature & signature verification Multichannel Capture Extraction & Verification Case Management Content Management Workflow & Process Automation Customer Communication Management Search Financial Management Human Resources Customer Onboarding Operations Management Insurance Financial services Government Healthcare Retail Manufacturing HospitalityEducation
- 5. Invoice Capture Identify Classify Separate Collect Extract Deliver Enterprise Resource Planning Systems (ERP) Business Process Management Systems (BPM) Databases Enterprise Content Management Systems (ECM) PAPER Network Folders PDF / TIFF Files Email Attachments Faxes Digital Scanners MFPs/MFDs Production Scanners
- 6. Automate Labor Intensive Key Entry Identify Classify Separate Collect Extract Deliver Enterprise Resource Planning Systems (ERP) Business Process Management Systems (BPM) Databases Enterprise Content Management Systems (ECM) PAPER Network Folders PDF / TIFF Files Email Attachments Faxes Digital Scanners MFPs/MFDs Production Scanners Data Transformation Auto Classification
- 7. Learn by Example & Online Learning Automatic Classification with Learn-by-Example and Online Learning Vendor A Vendor B Vendor C Vendor D Exceptions 2. Gather samples 4. Classify unknown documents 3. Train the system 1. Identify top vendors PAPER Network Folders PDF / TIFF Files Email Attachments Faxes Digital Scanners MFPs/MFDs Production Scanners
- 8. Capture Automation Produces Results 12 6 39 1 2 11 10 5 48 7 Faster Processing Higher Data Accuracy More Invoices Processed per User
- 9. transcendAP for Kofax TotalAgility Workflow Invoice Capture Invoice Review Data Validation PO Match/GL Post Approval Accountant Review Exceptions CaptureAnalyticsAPInsightAnalytics InvoiceSearch Mobile ERP System Vendor Master PO Receipt Data Chart of Accts Check Duplicates CompliantAuditTrail Automated Notifications Escalations Fast Deployment Configurable Customizable Scalable
- 10. transcendAP ERP Integration SizeofOrganization Cost of Solution 100+ ERP solutions on the market! Approved Invoices are automatically exported to the ERP of your choice Documents and data become part of the business process Documents and data are available on the Enterprise in real time Single system of record
- 11. transcendAP Case Study Pet Partners specializes in purchasing neighborhood veterinary hospitals and providing them with centralized business management services that help relieve the many organizational burdens of practice ownership. Challenges: Eliminate manual key entry and integrate directly with ERP Improve oversight of the AP process Simplify invoice approvals Solution: Optima implemented the transcendAP automation solution that captures invoices from over 60 locations in real time, automatically extracts all of the required data, enables an electronic approval workflow, archives images of approved invoices, and integrates directly with their ERP system Results: Handles high volume and growth (approx. 14,000 invoices per mo.) Achieved seamless integration with Microsoft Dynamics GP (78 databases) Reduced the cost to process invoices by up to 80% “With the help of Optima, we’ve been able to design a sophisticated invoice processing system without making any changes to front- end processes. It has really been a real and significant if not an unqualified success.” 2016 Financial Processing Automation Solution of the Year
- 12. Benefits of transcendAP • Increased processing speed • Improved control • Reduced processing costs • Better data quality • Powerful data integration • Enhanced insight through analytics • Real-time process management • Leverage one platform to automate any business critical process
- 13. Validation Workqueue Scan – Invoice arrived by direct scan. Identifies Scan User Email – Invoice arrived via email polled every 5 seconds File Import – Invoice arrived via shared folder polled every 5 seconds (distributed scan from branch offices) for
- 14. Validation Activity for Invoice Validation Document Type indicates invoice as PO Invoice or non-PO Invoice Review/Correct Extracted Data Supplier
- 15. View Duplicate Invoices Side by side view of duplicate Invoices showing Invoice Transactions, Notes and Payment details for
- 16. Validation Activity for General Ledger Posting Enter Posting Period, GL Codes and Totals. Invoice Total must balance to continue. GL Templates set defaults per Supplier to save data entry time
- 17. Invoice Verification for View notes, Approve / Reject
- 18. Search Invoices for Search by various Invoice fields Search Invoices that are in process or already approved Highlight row and drill-down to see detailed Invoice View
- 19. Analytics Lead to Insight for
- 20. About Optima Global Solutions Celebrating 15 successful years in business. SBA 8(a) Certified Business by Federal Government. Premier Partner of Lexmark Enterprise Software Certified on Kofax TotalAgility Proven provider of Accounts Payable solutions built on the Lexmark KTA platform based on years of experience working with Kofax TotalAgility customers. Technology Expertise in Business Process Automation, Data Warehousing, Business Intelligence, Microsoft, & Enterprise Mobility. Fortune 500 Clientele including Wells Fargo, Time Warner, and Bed Bath & Beyond. Best Solution Finalist Top 20 IT Services Company 2011 2016 Financial Processing Automation Solution of the Year
- 21. Optima Clients
- 22. Benefits of Working with Optima Proven Track Record and Excellent References Consultative Solutions Approach Highly Experienced Team in Technology and Business Process Strong Customer Support Team National Reach Long-Term Relationship Driven Culture
- 23. Questions? Corporate Headquarters: 3131 Princeton Pike Bldg. 3, Suite 207 Lawrenceville, NJ 08648 609.586.8811 info@optimags.com www.optimags.com