October 15-17, 2019 | Westin Kierland Resort | Scottsdale/Phoenix, AZ TRACK G: AUTOMATION CASE STUDIES TRANSFORMING COMPLEX INVOICE MANAGEMENT WITH TECHNOLOGY HELEE LEV CHIEF REVENUE OFFICER - GOBY STEVE IANNARONE SENIOR IMPLEMENTATION MANAGER - GOBY
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TRACK G: AUTOMATION CASE STUDIES SESSION TITLE › uploads › ... · A typical business case for AP Automation Pre-Goby Monthly Processing Costs $8.33x 4,500 invoices = $37,485 A
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October 15-17, 2019 | Westin Kierland Resort | Scottsdale/Phoenix, AZ
SESSION TITLE
SPEAKER NAMES
TRACK G: AUTOMATION CASE STUDIES
TRANSFORMING COMPLEX INVOICE MANAGEMENT WITH TECHNOLOGY
HELEE LEVCHIEF REVENUE OFFICER - GOBY
STEVE IANNARONESENIOR IMPLEMENTATION MANAGER - GOBY
October 15-17, 2019 | Westin Kierland Resort | Scottsdale/Phoenix, AZ
Overview
For businesses looking to manage complex invoices, such as utility bills, improve efficiency, and reduce manual processes from their operations, technology can provide radical solutions to eliminate wasteful spending. Long approval cycles; errors and inaccuracies; complex invoices; and manual data capture create burdensome and inefficient processes for Accounts Payable (AP) teams.
Cloud-based technology allows AP departments to work systematically, capture data and reduce errors while controlling their budgets, accelerating invoice cycle times, forecasting costs, and enhancing reporting. The best part? Technology saves you time and money—resulting in dramatic ROI.
Join Goby as we demonstrate how your AP teams can use technology to better manage specialized, complex invoices helping you reduce cost and eliminate wasteful spending. The session will include two case studies.
October 15-17, 2019 | Westin Kierland Resort | Scottsdale/Phoenix, AZ
Objectives
Discuss and learn how to improve
o Invoice Delivery
o Data Capture
o Invoice Process Automation
o Approvals & Workflow Automation
October 15-17, 2019 | Westin Kierland Resort | Scottsdale/Phoenix, AZ
Questions?
THE BUXE Company
ACQUISITION APPROVALSGL CODING
ACH, CREDIT CARD
API
REBATESINVOICE REPOSITORY
VENDOR PORTAL
ANALYTICS
CTX, NACHA
BANK PORTAL
CHECK / ELECTRONIC PAYMENTERP
BANK
DIRECT PAYMENT
CHECK / ELECTRONIC PAYMENT
Our workflow
THE BUXE Company
How will we save time & money?
Invoices do not get into the process as quickly as possible
Coding errors
Errors in keying the invoice dataHigh paper storage and retrieval costs
Lost or misplaced invoicesDelays uploading data on approved invoices to downstream systems
Long approval and exception resolution cycles
Difficulty implementing operational best practices
Fix this:
THE BUXE Company
How will we avoid costs & fees?
Stop paying late fees Don’t be defrauded
Stop over-payingHire fewer people per invoice as you grow
Stop double-paying
THE BUXE Company
How will we make money?
Captureearly-pay discounts
Negotiatefavorable terms
Celebratecash-back rebates
October 15-17, 2019 | Westin Kierland Resort | Scottsdale/Phoenix, AZ
Case #1
October 15-17, 2019 | Westin Kierland Resort | Scottsdale/Phoenix, AZ
October 15-17, 2019 | Westin Kierland Resort | Scottsdale/Phoenix, AZ
• 500+ active locations
• 1600+ monthly active utility accounts
– (Electric, Gas, Water, Waste)
• Paper, Email, Login
– Central & Decentralized
• Manual approvals
Case #1
October 15-17, 2019 | Westin Kierland Resort | Scottsdale/Phoenix, AZ
Opportunities
• Unpaid bills
– Shut off notices
– Late fees
– Deposit on Account
• Data Entry Errors
– Inconsistent GL Coding
• Lack of Spend Data– Trends
– Billing errors
October 15-17, 2019 | Westin Kierland Resort | Scottsdale/Phoenix, AZ
Solutions
• Invoice Intake Automation
– Centralized management of invoice delivery
• Invoice Data Capture
– 99.996% GL Coding Accuracy
• Exception approval workflow
– Business rule managed
• Payments according to terms– Payment discounts
October 15-17, 2019 | Westin Kierland Resort | Scottsdale/Phoenix, AZ
Improvements
• Exception reporting
• Rate & Trend reporting
– Consolidation
– Usage negotiation
• Cash flow
– Elimination of Deposits on Account
October 15-17, 2019 | Westin Kierland Resort | Scottsdale/Phoenix, AZ
Case 2
October 15-17, 2019 | Westin Kierland Resort | Scottsdale/Phoenix, AZ
October 15-17, 2019 | Westin Kierland Resort | Scottsdale/Phoenix, AZ
Case 2
• 600+ active locations
• 1900+ monthly active utility accounts
– (Electric, Gas, Water, Waste)
• Paper, Email, Login
– Central & Decentralized
• Manual approvals
October 15-17, 2019 | Westin Kierland Resort | Scottsdale/Phoenix, AZ
Opportunities
• Unpaid bills
– Shut off notices
– Late fees
– Deposit on Account
• Data Entry Errors
– Inconsistent GL Coding
• Lack of Spend Data– Trends
– Billing errors
October 15-17, 2019 | Westin Kierland Resort | Scottsdale/Phoenix, AZ
• Invoice Intake Automation
– Centralized management of invoice delivery
• Invoice Data Capture
– 99.94% GL Coding Accuracy
• Exception approval workflow
– Business rule managed
• Payments according to terms– Payment discounts
Solutions
October 15-17, 2019 | Westin Kierland Resort | Scottsdale/Phoenix, AZ
Improvements
• Exception reporting
• Rate & Trend reporting
– Consolidation
– Usage negotiation
• Cash flow
– Elimination of Deposits on Account
• Accruals– 80% Reduction of Accounting Team time
THE BUXE Company
A typical business case for AP Automation
Pre-Goby Monthly Processing Costs
$8.33 x 4,500 invoices = $37,485
A mid-market company with:• 1,000 employees • $200 million in revenue• 4,500 invoices paid per month• Limited automation
VSWith Goby Monthly Processing Costs
$4.20 x 4,500 invoices = $18,900
Savings of $223,020 per year
October 15-17, 2019 | Westin Kierland Resort | Scottsdale/Phoenix, AZ
October 15-17, 2019 | Westin Kierland Resort | Scottsdale/Phoenix, AZ
SESSION TITLE
SPEAKER NAMESTRACK G: AUTOMATION CASE STUDIES
TRANSFORMING COMPLEX INVOICE MANAGEMENT WITH TECHNOLOGY
HELEE LEVCHIEF REVENUE OFFICER - GOBY
STEVE IANNARONESENIOR IMPLEMENTATION MANAGER - GOBY
October 15-17, 2019 | Westin Kierland Resort | Scottsdale/Phoenix, AZ