BUILDING YOUR BUSINESS CASE FOR AP AUTOMATION · BUILDING YOUR BUSINESS CASE FOR AP AUTOMATION ©2016 PROPRIETARY AND CONFIDENTIAL. TODAY’S PRESENTER Michael Johnson, AP Automation

BUILDING YOUR BUSINESS CASE FOR AP AUTOMATION

©2016 PROPRIETARY AND CONFIDENTIAL

TODAY’S PRESENTERMichael Johnson, AP Automation Expert

Have your ever talked with anyone at your company about transitioning to automated AP process?

Yes

No

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AUDIENCE POLL

How many invoices do you process each month?

1 – 250

251 – 500

501 – 1000

1001 – 2500

2500+

AUDIENCE POLL

FIRST OFF, WHAT IS AP AUTOMATION?

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PAPER BASED PROCESS

©2016 PROPRIETARY AND CONFIDENTIAL 7

COMPLETELY AUTOMATED AP PROCESS

WHAT’S GOING ON IN THE INDUSTRY?

…PAPER CHECKS ARE EXPENSIVE & INEFFICIENT

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“What are the biggest challenges your organization faces in the payment management process?

2014 Pay Stream Advisors, Inc.

INDUSTRY TRENDS

*2013 ePayments Survey, The Association of Financial Professionals

WHAT ARE THE BENEFITS?

BENEFITS – MORE TIME

•Routing and Approval

2-3 Days vs. 28 Day Industry Standard

•Eliminate Manual Processes

Opening Mail, Data Entry, etc.

•24/7 Visibility into Invoice and Payment Status & Approvals

•Vendor and Payment Management

Rule # 1- Carries no balance from day to day.

Rule # 2- Deletes any balance you have left over at the end of the day you failed to use.

What would you do?

YOU HAVE $86,000 TO SPEND EVERYDAY

The most valuable commodity in the world!

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TIME

• 24/7 Visibility

• Audit Trail

• Automated Approval Process that Mimics Your Existing Process

- Invoices

- Approval Routing Hierarchy

- Approval Routing by Threshold

- Payments

- Double Signatures

- Conditional Amounts

BENEFITS – IMPROVED CONTROLS

Industry Average for a Paper Invoice $14.89

AvidXchange Cost per Invoice $1.50*

Industry Average for a Paper Check $7.15

AvidXchange Cost per Payment $.68*

*Doesn’t include the small labor cost still necessary

BENEFITS – REDUCED COSTS

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BENEFITS – CLEAR RETURN ON INVESTMENT

Based On:

• 1,000 Invoices

• 1,000 Payments

• 2 AP Staff

Check printing process ($1 per payment)

1200 payments per month = $1200/month

14,400 payments per year = $14,400/year

The AvidPay Network ($0.15 per payment)

600 payments per month = $90/month (.15 per payment)

7,200 payments per year = $1,080/year (.15 per payment)

7,200 payments per year= $5,976/year (.68 per check)

EXAMPLE- 1200 PAYMENTS/ MONTH

Savings of over 50% per year- Potential Rebates $7,200

AP AUTOMATION WITH AVIDXCHANGE

15+ Year History

5,500+ Customers

300,000+ Vendors in the Network

98% Customer Retention

500+ AvidXchange Team Members

Offices: North Carolina, Utah, New Jersey, and Texas

THE AVIDXCHANGE STORY

DIVERSIFIED CUSTOMER BASE

5,500+ ClientsAcross Many Different Industries

On average it takes solution providers 6 – 9 months to implement a solution of this kind, but not AvidXchange. How do they do it so much faster?

45 DAY IMPLEMENTATION

DedicatedImplementation Specialist +

A Proven Project Plan

1) Assigned Account Manager at the relationship level to understand your business and keep you up-to-date on major product changes. Typical contact: 4 calls annually.

2) Support Hotline w/ Support Case Tracking – 15 minute response time.

3) Quarterly Support Checkup Calls – Support calls 4 times a year to check on your configuration andidentify any issues we can help you with.

4) One Free Annual Tune-Up – The support team looks at your portal and recommends best practices andfeatures that can be implemented to optimize your experience.

5) Annual User Conference – Our User Conference, REVOLUTION, provides training, educational sessions,and networking opportunities.

6) AvidBill Team – We reach out to vendors to connect with them about API without your involvement.

7) Payment Team – We reach out to vendors to connect with them about eligible payment methods andoptimize your payment mix.

PHENOMENAL SUPPORT

Stop by our booth toreceive a free copy ofour Buyer’s Guide toAP Automation.

LIVE Q&A

THANK YOU FOR ATTENDING!