Tag Archives: accounts payable automation

Today’s a Good Day for Automation

Most companies face a wait time receiving customer payments that could range anywhere from 30 to 90 days to even longer. Payment delays not only cause anxiety for the collections management team, but they impact your cash flow. The bottom line is simple — the more quickly you collect your accounts receivable (AR), the better your cash flow situation will be.

You have undoubtedly heard about or have automated certain business processes already. By automating wherever possible, you’re looking where you can leverage technology to compliment your existing ERP or finance solution, and reduce labor-intensive administrative tasks, thus operating much more efficiently in the process. AR automation transfers invoicing to a digital process, sets you up to receive multiple forms of payment, handles what is usually labor-intensive deductions, accurately applies cash, and captures and prioritises collections efforts. In addition, AR automation allows you to:

  • Create customer invoices based on your company’s data or simply upload an ERP created file of invoice PDFs to send and track electronically or via postal mail
  • Send automated reminders for payment

Finally, AR automation also supports numerous types of collections strategies and is set up for internal collectors based on the collections rules and approach unique to your company.

The benefits of AR automation are numerous and impossible to ignore after you have experienced them firsthand. Here are the main reasons to consider implementing this year:

  1. Faster Payments
    If you’re accustomed to dealing with clients who tend to pay your invoices at their leisure, then you’re not alone. This is just one of many reasons to consider automating your AR processes as soon as possible. The enormous benefit of automation is that e-invoices are made available for customers to pay immediately. This eliminates delays in payment that might have previously been common. AR automation can help you speed up your invoicing so you get faster payment.
  1. Improved Customer Experience
    A benefit of AR automation is an enhanced customer experience. Your team is better able to focus on more strategic and detail-oriented tasks. When it comes to AR-related customer data, you know the more you can do to merge things for greater visibility, the better customer service you can provide. When it comes to inaccurate invoices or collections issues, AR automation technology allows you to quickly address any issues that may arise. By implementing technology in your AR processes, you are giving yourself a valuable tool that allows you to provide stronger customer service. Because of this enhanced customer experience, you can expect improved customer retention and a decrease in customer service-related problems.
  1. Cost Savings
    Studies have shown that e-invoicing saves approximately $8 per invoice sent. This cost reduction might come as a surprise. However, the decrease reflects cost savings in several areas, such as postage costs, manual handling of paper invoices, cost of paper, envelopes, and equipment used in the printing and posting process. By implementing invoice delivery automation, your company can cut costs where you never could before. In time, the sizeable cost savings will be worthwhile to leverage technology to your benefit.
  1. More Control & Visibility
    Another benefit of AR automation is the added control and visibility you and your team will gain. Invoicing and international e-invoice compliance, automated payment reminders, online customer payment, automatic cash application, collectors outreach and workflow, and capturing dispute reasons are just a few of the AR automation functions that allow real-time visibility and reporting. Improved visibility provides insight you and your team can act on.

You may still have reservations about making the switch. The manual processes you’ve always known feel comfortable and familiar. Change can sometimes be scary. Look at automation technology as something that can easily be adapted to your business needs. Opt for software that’s simple, intuitive and closely matches how you already do business. Consider automating your AR and collections process — it’s a more predictable and repetitive sequence of activities that provides benefits from end to end.

Accounts Payable Analytics: How Companies Measure & Report on KPIs

 

In the 2011 movie Moneyball, Brad Pitt plays Billy Beane, real-life General Manager of the Oakland Athletics, a small-market Major League Baseball (MLB) franchise.

The movie — based on the book of the same name — follows Beane’s revolutionary use of “sabermetrics” to assemble a team that could compete with richer ball clubs, despite operating with a significantly lower payroll.

Call it David’s plan to topple Goliath.

Rather than rely on the handful of archaic statistics used by baseball traditionalists for decades, Beane took a more nuanced and analytical approach to gauging player performance — finding value where no one before him had thought to look.

What does all this have to do with accounts payable (AP), you ask?

Based on recent survey results, it seems that the world of AP invoicing could learn some valuable lessons on analytics from the world of sports.

The Current State of Accounts Payable Analytics

Undoubtedly, a lot of cash-strapped companies already feel as though they’ve done everything in their power to minimize costs and maximize efficiency (e.g., reducing staff, adopting lean practices, implementing e-invoicing tools, etc.).

This may be true to some extent, but results from a study by the Institute of Finance & Management, Visibility Into the Accounts Payable Process, indicate there’s still value being left on the table. The survey, which received 129 respondents, found that most AP departments continue to use antiquated tools and techniques to track their key performance indicators (KPIs).

Some of the more eyebrow-raising results of the study include:

  • Out of the AP professionals who responded, a whopping 66% said they track KPIs using Excel spreadsheets, while more than one-quarter rely on whiteboards, checklists and email trails.
  • Over 41% of respondents have no plans to implement a dashboard tool at this time.
  • Nearly 18% of respondents cited resistance to changing established processes as one of the main barriers to deploying new software solutions, while 14% cited cultural unwillingness to test new software.

Outdated strategies. Lack of forward thinking. Resistance to change. Sound familiar?

Much like the pre-Billy Bean era of MLB, a lot of AP decision-makers are clinging to intuition and old-school ways of thinking. In other words, they simply don’t know what they don’t know — and it’s dulling their competitive edge.

Why AP Dashboards Are a Game-Changer

Just like the use of statistics in baseball, the use of KPIs in AP is an effective way to measure performance and take “gut feeling” out of important decision-making processes. But doing it right means using the right tools.

Increasingly, it’s becoming clear that AP dashboards might just be the ideal, complementary tool to make every action smarter and more strategic.

Dashboards allow users to view, organize and manage actionable metrics directly from an easy-to-use interface. Not only do they provide visibility into what’s happening, they also answer the ever-important question, “What’s going to happen?”

Here are just a few examples of the valuable insight each user has access to:

  • accounts-payable-analytics-dashboardCFO
    • Organization spend overview
    • AP cash flow
    • AP process metrics
    • DPO
  • AP Managers
    • Visibility over spend
    • Spend by category, volume and supplier
    • Accrual reporting
    • Payment KPIs
    • Process efficiency
  • Cost center owner/LOB manager
    • Requests pending approval
    • Budget control and forecasts
    • Spend analysis and trend

Let’s face it. Your AP department isn’t as exciting as a MLB team, and no one is ever going to make a movie about AP analytics. But if Billy Beane’s story teaches us anything, it’s that it pays challenge the status quo and re-examine established practices. After all, gaining a competitive edge has never been a spectator sport.

Want to learn more about measuring and reporting on accounts payable analytics? Download the eBook, 5 Accounts Payable KPIs Worth Tracking, and discover how to maximize results with real-time analytics and dashboards.

Automated Delivery of Customer Invoices to AP Portals

Options for customer invoice delivery continue to modernize as companies experience the fruits of digital transformation. We have come a long way with invoice delivery methods — things are faster, easier and more cost-effective than ever before. In recent years, companies have been seeking efficiencies within accounts payable (AP) for the buyer, which led to the introduction of AP portals. Accounts payable portals continue to grow in popularity, so much that the U.S. Government, the largest buyer in North America, mandated that vendors must electronically submit invoices within one of their recognized portals by end of 2018. As more and more buyers transition to using AP networks to ease their own technology burdens, it shifts the problem squarely onto the supplier’s accounts receivable (AR) team.

Accommodating customers has been the key to many organization’s success, however, it can come at a cost and may not be an easy task. There are more than 250 complex AP networks used globally. New AP technology means that suppliers increasingly need to submit invoices directly into customers’ AP systems.  To manage this method, AR departments are often:

  • Manually entering each invoice using an online AP portal, one at a time — which is time consuming and resource draining
  • Hogging up already limited IT resources to build custom AP integrations with each system and provide ongoing support
  • Turning away business refusing to accommodate, impacting growth
  • Managing multiple invoice delivery channels, including delivery of statements and invoices via portal, postal mail, EDI, fax and email

Accounts payable networks and private corporate portals are not going away. There are real benefits to submitting invoices online, such as: visibility on payment status, cost savings by lowering or eliminating postal mailings and time savings of sending an email versus postal mail.

With the aid of Artificial Intelligence (AI)-driven technology, suppliers now have the option to automatically deliver invoices to portals — no longer requiring manual data entry or taxing the resources of AR staff. The repetitive processes of data entry and invoicing naturally lend themselves to automation. Artificial intelligence can help companies timely and efficiently post invoices to AP portals, without input from humans. Automation of invoice delivery into AP portals eliminates the burden, giving both parties the efficiencies they want and need.

The Benefits of Document Processing Automation in the Food Industry

The exchange of documents is essential to how daily business activities are conducted, especially in manufacturing and distribution. In fact, how well an organisation optimises document processes directly impacts profitability. This is especially true in the food and beverage industry, where FDA regulations and product shelf life make efficiency and accuracy particularly important. It is also true then that the promised gains from automation are often amplified in this space.

The Pitfalls of Manual Processes

Each and every day, warehouse distributors and manufacturers handle faxes, emails and other paper-based supply chain management documents that cause problems such as:

  • Data entry errors associated with the manual rekeying of data, resulting in delayed/incorrect shipments
  • Inefficiency in getting fax/email data into a back-office system, resulting in production delays and overstocks
  • Concerns about the cost for increasing staff and infrastructure to handle high volumes and peak periods

Management Concerns

The struggles associated with manual processing affect a business at multiple levels —, particularly at the managerial level. When document entry cycle times are long, managers cannot grow the business without adding staff. Additionally, there is no easy way to prioritise and monitor document entry, meaning high-priority and time-sensitive processing can be delayed. Document processing errors are also a common problem that causes a domino effect of issues for managers. Errors can lead to delays in fulfillment and cash collection, additional shipping costs, waste (especially with perishables) and repetition. Furthermore, processing errors can cause returns, which a business must pay off in credit notes, restocking or write-offs. Finally, archiving poses a major concern for management. The cost of printing and the space to store documents, combined with the time it takes to file and retrieve records, can hold a company back. Customer Service Representatives (CSRs) are often unable to find documents to answer customer questions, and information is not readily accessible for auditing purposes.

The Promise of Document Management Automation

The more efficient a company’s billing and cash collection methods are, the faster documents are handled, processed and tracked, which accelerates the flow of business cycles. There are then four main expected outcomes from replacing traditional, paper-based processes with document management automation:

  • Cost-effective integration of incoming documents into business processes so they get to the right places/people as quickly and efficiently as possible.
  • Removal of human intervention and manual paper handling from document processes, increasing efficiency and reducing errors from manual touch points.
  • Increase in the efficiency of back-office operations frees staff to focus on higher value, strategic activities.
  • Improvement of supplier and customer relationships by creating a superior, more efficient experience receiving payment or products.

Success Story: Sales Order Processing and Bel Group

If a manufacturer or distributor in any industry makes a mistake with an order, it incurs costs associated with bringing the product back to the warehouse, repackaging it and redistributing it. There are the shipping costs, the time wasted on duplicate processes and the incurred risk to reputation to think of. But when it comes to the food and beverage industry, order processing takes on an even greater importance because in many cases, product cannot simply be reshipped in case of error. Perishable product must be disposed of, which can lead to a total loss of revenue on inventory. That’s a cost no company wants to pay.

The Bel Group is a worldwide leader in branded cheeses with operations in 36 countries and more than 12,000 employees. Its Spanish operations were hamstrung by inefficient, manual processing of customer orders and invoices. Prior to implementation of an automated order processing system, two-thirds of the approximately 25,000 customer orders the division received annually came in via fax, email, and telephone. Processing those orders manually was slow, labor-intensive and much more susceptible to error.

Like many companies with traditional systems and long-standing customer relationships, Bel Spain worried that their customers would balk at submitting orders electronically. Since solution implementation, Bel has taken an active role in helping customers change the way they send documents, moving from telephone and paper to electronic format (fax or email). Within a year, two-thirds of Bel’s orders were being received electronically. Thirty percent of those were processed using optical character recognition (OCR) technology, drastically reducing the number of manual touch points—and opportunities for error—associated with their traditional system. Today, 100 percent of Bel Spain’s document exchange with customers using non-electronic formats is automated and seamlessly integrated with SAP. Orders are now more accurate, and the company has seen significant improvements in the quality of managing order-to-cash and procure-to-pay cycles.

Sales Order Processing Benefits:

  • Achieved significant financial savings by eliminating the costs involved with printing and mailing invoices and manual reception and processing of customer orders.
  • Decreased order and invoice processing time.
  • Eliminated processing errors associated with manual handling.
  • Streamlined relationships with vendors and customers by making communication with both more reliable, resulting in faster sales cycles and increased customer loyalty.
  • Eliminated physical archiving by using 115 fewer filing cabinets every year, resulting in an estimated savings of €4,500 per year based on the average price per square meter.

Bel Spain also automated the sending and archiving of electronic customer invoices. Invoices are now received quicker and easier, and never get lost. Duplicate copies can easily be printed if needed, there is greater invoice traceability and Bel Spain benefits from decreased days sales outstanding (DSO).

Accounts Receivable Benefits:

  • Invoices with electronic signatures are automatically generated from SAP.
  • Signed PDF invoices are automatically sent by email via Lotus Notes.
  • Electronic invoices are archived online, freeing-up physical space and decreasing associated costs.

Success Story: Accounts Payable and Farmland Foods

Increasing industry pressures have many food and beverage companies looking for ways to lower operational costs and gain leverage with suppliers. The expense and inefficiency of keying in, verifying and approving vendor invoices manually make accounts payable automation a popular way to modernise AP processing, reduce costs and improve vendor relations.

International pork processing company Farmland Foods processes about 30,000 invoices every month. That’s an awful lot of paper to push via outdated manual processes. AP operations were frustratingly slow, and the accuracy rate wasn’t where it should have been for a company of Farmland’s standing. Invoices were stored in paper files in an inconvenient storage room, and employees were wasting too many hours printing invoices and manually re-entering them into SAP.

In 2014, the company decided to implement an automated AP system that integrates with SAP. As a result, the Farmland experienced tangible cost-savings.

Benefits:

  • Improved visibility. Managers now have access to key metrics, such as number of invoices to process, how far out they are, payment terms for discounts, etc.
  • Easier access to invoices. Instead of tracking down invoices in a file room, Esker allows users to access them via document numbers to easily email/print a copy online.
  • Faster freight processing. Esker helped Farmland reduce its “out period” for freight invoices from a deadline-pushing 14 days to just two days.
  • Cost savings. Fewer manual processing tasks allowed Farmland to save on costs equal to three FTEs, and reallocate current staff to projects offering greater value.
  • Faster invoice entry time. Where the invoice entry goal for Farmland’s AP staff used to be 150-200 invoices per day, they are now achieving over 400 invoices per day.
  • Fewer outstanding accruals. Faster invoice entry times have enabled Farmland to reduce the number of outstanding AP accruals by $8 million.
  • Increased discounts. When comparing the last six months to the six months prior to automation, Farmland estimates it has gained an additional $29,815 in discounts.

 

AP Automation Strengthens Manufacturer-Supplier Relationships

At its core, the relationship between manufacturers and supplier s in the semiconductor industry is based on how well the two sides can work together and, most importantly, making sure that invoices and payments are made on time. Issues with payments can ripple throughout the relationship. It has the potential to impact not only the financial sheets for the companies but also the trust and faith that make the partnership work. A semiconductor manufacturer needs to have faith that its suppliers will be on time with products; the supplier has to trust that if it sends out invoices, those bills will get paid in full and on time. A breach of trust and loss of faith can have a domino effect, leading to feelings of ill will, lost business or lawsuits.

For many companies, the accounts payable (AP) process has made that much more challenging by the manual nature of the processes. The inherently complex processes of invoicing and receipt of payment that are crucial to making businesses run smoothly and keeping relationships strong are made that much more difficult when those processes are inefficient and error-prone.

Many of the key touchpoints throughout the accounts payable process tend to be manual, which can lead to a range of challenges for organizations. They may run into difficulty retrieving invoice data on a timely basis and have little control or insight into that data. Errors can find their way into many of the points of the process, from incorrectly processing or misplacing invoices to inputting incorrect data or being late getting invoices sent. Even more, those errors can lead to too much time spent on fielding calls wanting to know the status of those invoices or payment, or on resolving disputes arising from those errors.

Such inefficiencies can harm a business. They can lead to late payment fees, low staff productivity, and a larger dissatisfaction in the relationship with vendors. Just as bad, the time spent on dispute resolution takes away from the time company representatives have to do the work of building and improving the relationships with its partners.

Automating the accounts payable processes can make a lot of these challenges go away and can go a long way in improving the relationship between manufacturers and their suppliers. For example, AP automation can enable such programs as dynamic discounting, where manufacturers are given greater flexibility in determining when to pay their suppliers and can receive discounts for products and services when they pay those suppliers earlier. The savings can be significant. We’ve seen customers save as much as $30,000 a month through early payment discounts, and those programs are possible because of the automation of their accounts payable processes.

Automating the AP system from start to finish creates the efficiencies that can lead to programs like early payment discounts, which in turn only strengthens the manufacturer-supplier relationship. AP automation touches every person in the system, from the accounts payable specialist and manager to the controller, treasurer, and CFO, reducing the amount of clerical work, making it easier to monitor team performance and budget compliance, managing payments and gaining visibility into spending.

Data needed for every step in the AP process can more accurately and quickly be collected, invoices can be sent out on a timelier basis and payments can be expedited to ensure that business between manufacturers and suppliers can continue to hum smoothly. Communication between vendors and their suppliers is improved through vendor access to self-service portals, and the archiving of data at every stage of the AP process can allow real-time reporting and analytics, giving buyers the information they need regarding their business relationships, including the vendors they’re buying from and how much they’re spending.

The greater efficiency means that manufacturer representatives can spend less time fielding calls about the status of invoices and payments, and any disputes that do arise can be more quickly resolved. This means more time spent nurturing and strengthening the crucial relationships with their suppliers, ensuring smooth partnerships moving forward.

Be Your Own Field Guide: How to Identify and Cure the Top 5 Pains in Your Accounts Payable Team

Being raised by parents who were nature enthusiasts, our house never had a shortage of books or magazines about the great outdoors. National GeographicOutdoor Life, Mother Earth News — you name it, we had it lying around.

One book that I’ll always remember was the Birds of Wisconsin Field Guide. Admittedly, I never paid much attention to it growing up — I was more of a reptile kid myself — but to my parents, it was their ornithological bible. They used it as a guide to distinguish similar looking species, attract more of their feathered favorites, and even dissuade “bad birds” from making their home in our backyard.

Wouldn’t it be great if those in accounts payable (AP) management roles had a similar guide?

As different as birding and managing an AP department is, both passions could benefit from a resource helping them to avoid the bad and maximize the good.

Top 5 Pains Ailing Your Accounts Payable Team

While AP management doesn’t need to be lectured on how to run a successful department, it’s never a bad idea to stay informed on solutions that can fix pain points in a traditional AP process. With that in mind, use the field notes below to guide you in navigating your AP landscape.

First up, the top 5 pains affecting today’s AP management teams:

  • Manual data entry. With the laundry list of side effects contributed to this top pain, it’s shocking that it remains so prevalent in companies. Each moment your educated AP staff has to spend manually entering data before an invoice can be approved represents lost value for your business. Avoid at all costs.
  • Getting approval. Ah yes, the waiting game that no one ever seems to win. In a manual environment, supplier invoices often get routed for approval only to sit in a state of limbo on someone’s desk or email inbox, slowing the payment cycle down to a crawl. And do you know who passes their competition by crawling? Nobody.
  • Erroneous invoices. Exceptions happen, but that doesn’t mean they should be accepted with no questions asked. Research by Ardent Partners revealed that 17.8% of supplier invoices cause exceptions in a “typical” company, while best-in-class companies average 9.8% exceptions — a stark contrast considering the major impact errors have on AP efficiency.
  • Late payments and missed discounts. These are the worst. Not only does it have the obvious potential of damaging important supplier relationships, forming a habit of late payments makes it impossible for your team to run at peak efficiency.
  • Lots of tracking and reporting. According to the Institute of Finance & Management, only 15% of AP departments currently track their metrics with technology like dashboards that display data. So then how do they do it then? Manually, which makes it harder for staffers to prioritize tasks, managers to measure team performance, and finance executives to get the cash flow visibility they need.

How AP Automation Cures All

Don’t get overwhelmed. After going through all those pains faced by AP teams, fixing them can seem daunting. Nope … not if you’ve got the proper guidance to spot a good solution when you see one. Something like the Birds of Wisconsin Field Guide, but for AP.

And you don’t even have to look far. We’ll be that guide and show you why automation is the single solution to cure your AP woes.

How can one solution put an end to so many problems? It enables businesses to streamline their entire workflow process — from the capture and extraction of invoice data to automatic dispatching for approval to customizable dashboards displaying key metrics. The benefits truly span the entire invoice settlement process and positively impact every user.

Instead of worrying about pains, you can start profiting from:

  • Reduced overall costs
  • Improved supplier satisfaction
  • Increased payment discounts
  • Enhanced reporting and analytics
  • Accelerated payment cycle times
  • Eliminated duplicate payments
  • Strengthened credit rating
  • Greater support for regulatory compliance

AP Field Guide: How to Treat the Top 5 Pains in Your AP Team

[INFOGRAPHIC] SIT BACK AND RELAX WITH THE PERFECT AP PROCESS

If you’re looking for a way to improve productivity, financial management, and overall AP performance, kick back and sip on this perfect AP cocktail.  Afterwards, have a look at our AP Buyer’s Guide and discover the 15 key questions to ask when scoping out an automation solution for vendor invoice processing.

You’re Trying to Manage What With Your Email System?

automated business process

3,352

That’s how many messages currently reside in my inbox at the start of this blog. I am not ashamed nor proud of this stat, but it’s a fact. I’m envious of those that can manage their mailbox like it’s a task or to-do list but, as much as I’ve tried, this simply hasn’t worked for me for a variety of reasons. And I know I’m not alone in this.

Many strategies have evolved over the years for me to efficiently find and manage my inbox. Key word in that last sentence…evolved.

New technology is great, but as it becomes more established in our everyday lives, both personally and professionally, it can morph into a solution it was never intended to address.

Email is not a workflow tool, business automation or document repository.

Organizations have come to me to optimize a variety of business processes that currently reside in their email system…sales order management, help desk tickets, master data requests, invoice approval, customer issue resolution — the list goes on and on.

Regardless of the process, where’s the visibility? Who has it, when did they receive it, what is the status, where does it need to go to next, how long did it take and why isn’t it completed?

No matter what industry you are in or department you report to you probably have encountered something similar.

As more and more emails are received, the potential for information being lost, misplaced, accidentally deleted, or unintentionally ignored increases.

This post is not a magic pill that is going to solve your overwhelming inbox. It is simply a statement that there are many great tools developed to help streamline business processes such as:

  • Accounts Payable Automation
    Allows businesses to eliminate the manual pains of traditional AP invoice processing thanks to intelligent capture, touchless processing and electronic workflow capabilities. The end result? A simpler, more efficient way to manage cash flow and generate new revenue.
  • Order Processing Automation
    Automation with workflow tools, customizable dashboards and self-service portals allowing customer service leaders to bring accuracy and security to every order processed and can eliminate backlogs from one day to the next.
  • Accounts Receivable Automation
    Completely automates the sending and archiving of invoices according to customer preferences and regardless of media type – postal mail, fax, email, EDI and publication on a web portal.

Now, it’s just a matter of doing your research to find the right automation tool for what you are trying to manage that best suits your organization’s requirements.

3,361…time to get back my email.

Property Brokers – Improving supplier invoice processing with cloud-based accounts payable automation

BACKGROUND

Property Brokers, New Zealand’s leading provincial real estate brand, runs its entire accounts payable (AP) process out of its head office in Palmerston North. The company was manually handling the processing and approvals of its 1,200-1,300 monthly supplier invoices (for the head office and all the North Island regional branches). Unfortunately, the process was very paper-heavy and laborious and not a good use of time or resources.

Each invoice was scanned and emailed to the right branch or department for approval, and depending on the approval hierarchy, would sometimes need to go through as many as five approvers in the company. Each recipient printed the invoice, checked and authorised it for payment, applied the correct finance code, then signed and emailed back the re-scanned invoice copy. The accounting team at the head office would then print it out again and match it against the original invoice, before entering the data into the company’s Accredo accounting software. After ticking the invoice off on the master list, the invoice was finally filed.

This time-consuming process was both inefficient and error-prone. Data entry errors and payment duplications were numerous and the accounting team lacked real-time visibility of where an invoice was in the approval/payment cycle. It also made invoice handling slower and costlier than necessary.

The company knew it had to improve its overall invoice management process through automated capture of invoices and electronic matching and routing for approval, as well as reduce time and costs associated with manual matching, distribution of invoices and keying-in of information.

SOLUTION

It was time to modernise. Lee Waller, Property Brokers’ financial controller, was keen to find a better way to manage incoming invoices and expense claims handling. “I wanted an automated, simpler, faster and less labour-intensive system,” he said. So, the search was on. Property Brokers drew up a list of requirements and asked four potential partners to submit proposals.

Fuji Xerox New Zealand recommended Esker’s Accounts Payable automation solution as the perfect fit with the business. And, delighted with both the affordability and functionality of the solution, Property Brokers agreed.

The Fuji Xerox implementation team worked closely with Property Brokers’ finance team to configure Esker’s solution to reflect the company’s internal processes. From day one, Property Brokers were impressed with Fuji Xerox’s approach, which involved taking time to understand the business and get things right. The effort paid off and the go-live was a success.

Automating the invoice and expense approval process delivered instant results. The new level of consistent invoice coding provides an accurate picture of what the company is spending and where. Esker also gives branch and department managers a clearer view of their running expenses, which helps them eliminate unnecessary overheads.

Esker captures invoices from emails and uses intelligent Optical Character Recognition (OCR) to extract data from header and line level detail. It provides users with a friendly interface for invoice review and coding, a workflow engine to handle multi-level approval, reporting with dashboards, as well as archiving of images with the audit trail for further retrieval.

In addition to supporting Property Brokers’ technology strategy, Esker’s cloud-based solution makes invoice and expense information available to managers across New Zealand. Because invoices are now entered into the approval workflow as soon as they arrive, reviewing them has become a more manageable task for managers.

Thanks to AP automation, invoices are no longer scanned, printed, filed and manually matched. The AP team has been able to focus on more value-added tasks and keep pace with the growing business without the need to recruit more staff and monthly invoice close-off date has been reduced.

The Property Brokers team are enthusiastic about their new automated AP solution. Even the staff members who were initially nervous about such a dramatic change are now delighted to use the system. The company knew the project was a
success when they started receiving positive feedback from business users.

“I love Esker. We will see some major improvements to the bottom line in the coming months!”
Greg Kellick | Waikato regional manager

Read more:

Pelican Products, Inc. Improves Sales Order and Invoice Processing with Esker’s SaaS Solutions

Sydney, Australia — March 21, 2018 — Esker, a worldwide leader in document process automation solutions and pioneer in cloud computing, today announced it is working with Pelican Products, Inc., a leader in the design and manufacturing of protective cases, temperature-controlled packaging solutions, portable lighting systems and rugged gear, to automate its order management and accounts payable (AP) processes. 

Pelican chose Esker’s Order Processing and Accounts Payable automation solutions to streamline its processes, fill gaps in productivity, provide higher levels of visibility and allow for scalability within its business. Thanks to SAP-certified integration, orders and invoices are now electronically processed with machine-learning technology and automatically entered into the system.

Optimised order processing

Prior to using Esker, it took Pelican’s Customer Service Representatives (CSRs) up to thirty minutes to enter large, complex sales orders into the company’s SAP® system. Today, Pelican is processing fax, email and electronic data interchange (EDI) orders significantly faster, with order entry cycle times below 5 minutes which is a reduction of more than 80 percent.

“Esker gave us the most bang for the buck,” said Paul Sohn, director of business Applications at Pelican. “It provides a greater level of visibility over both the number of orders in the queue, as well as those entered into SAP. Our goal is same-day order entry, which Esker helps us achieve on a consistent basis.”

EDI order integration

With Esker’s solution, CSRs are now able to process EDI orders in the same workflow as fax and email orders — even those containing exceptions — without needing the IT department to correct issues. Delays due to EDI exceptions previously resulted in financial penalties for late shipments and reduced productivity for IT staff being pulled away to help fix errors. Pelican now benefits from streamlined processing of EDI orders, reducing processing time from what used to be days to just minutes.

Since implementing Esker, Pelican has been able to:

  • Reduce order entry time by more than 80 percent; from 30 minutes for complex orders to about five minutes
  • Maintain headcount; managing growing order volumes without adding staff
  • Accelerate delivery time; getting orders entered up to one day sooner to avoid late delivery fees
  • Improve visibility; custom dashboards and reports allow for 100 percent visibility on every order
  • Streamline order processing; all orders, even EDI, are routed through one shared workflow

Streamlined accounts payable

Like order management, Pelican’s previous AP invoicing process was also hampered by manual touch points. Slow processing times and lack of accountability over authorisations were two of the primary issues the company aimed to resolve. With Esker’s Accounts Payable solution, Pelican now has a more structured and transparent process for the accounting staff and management. This centralisation has allowed Pelican to respond to vendors more quickly and reduce the occurrence of late payments. Instead of searching through email or paper copies for invoices, they are now easily found in Esker’s solution.

“We can accrue invoices entered into Esker and see what’s been approved and what’s still pending,” explained Sohn. “The visibility it has brought to AP has made approvals easier and payments faster. It’s expedited the entire process — a major time-savings tool.”

About Pelican Products, Inc.

Pelican Products, Inc. is the global leader in the design and manufacture of high-performance protective cases, temperature controlled packaging solutions, advanced portable lighting systems and rugged gear for professionals and outdoor enthusiasts. Its products are used by professionals in the most demanding markets including fire/safety, law enforcement, defense/military, aerospace, entertainment, industrial and consumer. The company operates in 21 countries, with 22 international sales offices and six manufacturing facilities around the globe. In Europe, the company does business under the name Peli Products, S.L.U.