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Accounts Payable Automation 4-Way Matching

Accounts Payable Automation 4-Way Matching

Accounts Payable Automation is a powerful tool for any organization that finds itself processing a large volume of transactional information on a regular basis. Unfortunately, many organizations fail to identify the nuances (and potential nuances) of their AP process. Matching a PO to an invoice and receipt is a relatively simple process to automate, but what happens when additional approvals are necessary to fully vet a transaction? What happens when a 2-way matching process requires an additional step? And what happens when a fourth match is required? Here’s everything you need to know about Accounts Payable Automation 4-Way Matching:

Large Enterprises Require Accounts Payable Automation 4-Way Matching

Although Accounts Payable Automation 4-way matching is rarely top of mind when an organization decides to seek out an Enterprise Content Management (ECM) solution for AP Automation, it can be achieved with the right vendor. For example, if your organization is headquartered in the United States but has operations spanning North America and Europe, the major drivers for such a project might include:

  • Scaling back paper-based processes (and eliminating paper)
  • Reducing time and cost associated with manual ERP data keying and workflow management
  • Streamlining back-office processes across disparate locations and systems
  • Eliminating late and duplicate payments
  • Obtaining more early pay discounts
  • Improving the work environment

All of these benefits can be realized with the right ECM solution for your organization; however, this list doesn’t need to be finite. Clearly, reducing the amount of time required to complete the matching process is key to faster and more efficient workflows, but if your solution only automates simple 2-way matching or more advanced 3-way matches, certain transactions will inevitably fall through the cracks. Few solutions can capably perform 4-way matches, but those that can tend to support higher rates of “straight-through processing” and greatly reduce the amount of manual, error-prone work performed by employees.

How Does Accounts Payable 4-Way Matching Work?

The precursor to a reliable Accounts Payable Automation 4-way matching process is the Enterprise Resource Planning (ERP) system(s) at the heart of your organization and the ECM solution that will help you unlock new features using your existing software infrastructure. Most organizations will review vendors and perform due diligence until they find a solution that can be expanded throughout their organization without bringing additional vendors into the fold and integrates with their current ERP(s).

Before a definitive selection can be made; however, your organization must develop a robust understanding of your existing business processes and the underlying workflows that drive these processes forward. This is best accomplished by partnering with a vendor that is willing to perform a comprehensive discovery and whiteboarding session to identify just how complex these processes truly are (and whether or not Accounts Payable Automation 4-way matching capabilities are necessary to help you reach your goals).

An example of a 4-way match is an invoice that must be matched to a purchased order (PO) and then to a receiver, before finally being matched against a quality inspection sheet. The additional flexibility of being able to emulate such a nuanced workflow with automation is extremely liberating for businesses that want to be able to fully automate their enterprise. And it shows as organizations that implement seemingly become leaner and more profitable overnight.

Additional Automation Benefits

Accounts Payable Automation 4-way matching is an advanced capability that helps companies close the gap on straight-through processing rates exceeding 90 percent or greater. By automating the entire AP process from document capture to workflow and approval, your organization can cultivate an environment where only the rare exception will require manual handling.

In this touchless environment where no ERP keying or other human interaction is needed,  ERP lookups for vouchering, validating, and supplementing key data between systems are executed using a rules-based business process automation workflow mapped to your specific practices, enabling lightning-fast reviews and approvals. This is achieved using cross-reference table algorithms that normalize data among systems and constantly match variables to maintain data integrity. AP processing staff can be reduced or reallocated, giving them the additional bandwidth needed to concentrate on strategic operations. Lastly, the ancillary benefit of AP Automation in related vendor fees, paper, and onsite and offsite storage costs — which can oftentimes be eliminated altogether savings tens of thousands or more.

To learn more about how Accounts Payable Automation 4-way matching can help your business gain a competitive advantage, contact us today.

IntelliChief

4 Common Matching Issues for Major ERP Systems

 

Is there anything more frustrating than footing the bill for a fraudulent or inaccurate invoice? For years, business owners have struggled to give their Accounts Payable (AP) departments the tools they need to prevent invoice processing errors related to manual data entry, duplicate invoices, and faulty exception handling — and it’s starting to take a toll on several industries.

According to Infor, “approximately 0.1% to 0.05% of invoices paid are typically duplicate payments.” In other words, a business that grosses $150 million per year could lose as much as $750,000 to duplicate payments over a five-year period. This “lost” money could have been invested in training, bonuses, infrastructure, and virtually anything else businesses need to succeed. For most businesses, utilizing a 3-way matching process is a reliable way to cut down on matching errors, but it can also lead to additional Accounts Payable challenges.

In theory, a true 3-way matching process matches not only the invoice and purchase order but also its corresponding receiving information, thereby eliminating the chance for duplicate payments and counterfeit invoices. Unfortunately, this process can be a hindrance for businesses that aren’t equipped with the tools to process invoices quickly and accurately. For instance, some enterprise resource planning (ERP) systems require the processor to manually check to ensure that all related documents have been received to approve the 3-way match and complete the AP process. Another common ERP-related issue is a system’s inability to read purchase orders (POs) and receipt tables, rendering automatic voucher creation an impossibility.

IntelliChief, an Infor solution partner and Oracle Gold Partner, was built to overcome these limitations with unparalleled workflow automation and invoice matching capabilities. Unlock your team’s true potential by eliminating pitfalls in your existing AP process and watch productivity soar as you reduce manual exception handling by as much as 50% or more.

Issue #1: Workflow-Restrictive Implementation

Too often we find that enterprise-class software wants your business to play by their rules. Whether you’ve been in business for one, ten, or one hundred years, your existing business processes should be respected and considered whenever new technology is incorporated into your workflow. One of the major detractors of point solutions that aim to address a single issue is a lack of flexibility. You can’t apply their technology to other departments or workflows, and you must mold your existing processes to “play nice” with their system.

IntelliChief is unique because it is an enterprise content management (ECM) platform that integrates directly with your ERP system and can be configured to your exact business processes. Whether you utilize a 2-, 3-, or 4-way matching process, IntelliChief can be configured accordingly to help you reduce lag time and AP errors.

Issue #2: Queued Matching

How do you streamline a process that grinds to a halt every time something unfamiliar enters your queue? On top of that, how do you ensure that easily processed documents aren’t trapped behind a wall of exceptions? Realistically, utilizing any sort of queue in your process will lead to slowdowns and additional Accounts Payable challenges. For example, if your team members must enter an invoice to see if the receiving has been completed, it’s only a matter of time before your entire system is bogged down.

As an Infor Solution Partner and Oracle Gold Partner, IntelliChief matches invoices in real-time to help businesses avoid late fees while capitalizing on opportunities for early payment discounts. Exceptions are routed into workflow and automatically processed once the system has enough confidence in a match or recognizes that it’s within your tolerances. Any exceptions that fail the confidence test are then routed to a user for manual approval, leaving only your most pressing (and real) exceptions to be handled by your AP department.

Issue #3: No Unit of Measure Conversion Capabilities

Reducing the number of exceptions in your AP process is a surefire way to increase productivity. Whenever your processors are forced to deal with an exception, they are committing extra time to a particular transaction regardless of its value. Whether a transaction is worth $1 or $1 million, every additional second your team requires to process it is being siphoned directly from your bottom line.

Unit of Measure Conversion

IntelliChief finds the match even when item numbers, quantities, and unit prices don’t!

Therefore, if you can reduce the amount of time spent handling exceptions, you can realize significant cost savings. IntelliChief can automatically perform unit of measure and part number conversions to reduce exceptions. For example:

  • Lithium grease can be purchased in a drum or a 5-gallon bucket. There are 55 gallons in a drum, which means there are 11 buckets in a single drum. If the invoice and purchase order express this amount (i.e. one drum) in different terms (i.e. one drum vs. eleven buckets) it will result in an exception and require manual intervention to process. IntelliChief utilizes a cross-reference matrix to automate these conversions, eliminating the need for manual approval.
  • Steel is often purchased in coils while copper tubing is more commonly purchased by the 20-foot section. Similarly, steel pipe is regularly purchased in 44-foot rail lengths but used by the inch or square inch. When suppliers and purchasers have different expectations about how a material will be utilized, it can lead to unit of measure normalization issues. The final product is ultimately the same, but your AP processors can’t be certain without checking manually. IntelliChief eases the burden of this complicated process by handling the conversions for you and eliminating this step altogether.

Issue #4: Lack of Support for Workflow Automation

By addressing the above concerns with an industry-leading ECM solution like IntelliChief, your business can take advantage of faster processing times and fewer exceptions. It allows businesses to accelerate invoice or customer purchase order processing by eliminating manual intervention and automating your workflow. Even complex matching procedures, such as those involving blanket POs, are no problem for IntelliChief.

As soon as your information enters the system, a 2-, 3-, or 4-way match is performed automatically. With normalization and cross-referencing, the number of transactions that require manual intervention is reduced even further. IntelliChief Capture Enterprise users can even unlock the ability to use straight-through processing, which allows invoices to be processed without any manual entry or intervention from the beginning. As the statistics below prove, the leap in productivity is nothing short of alarming:

Without Normalization/Cross-Reference

  • 260 Total Invoices
  • 141 Processed Straight Through
  • 119 Required Manual Intervention
  • 54% Straight to Voucher

With Normalization and Cross-Reference

  • 260 Total Invoices
  • 254 Processed Straight Through
  • 6 Required Manual Intervention
  • 97% Straight to Voucher

With IntelliChief, you can reduce the burden of exception handling on your AP team, reach unprecedented processing speeds, and decrease the number of errors in your process by a wide margin. Even when your team is out of the office or unavailable, IntelliChief continues to process transactions in real-time from start to finish.

Overcome Your Accounts Payable Challenges With IntelliChief

There are many benefits for businesses that rely on 3-way matching, including stronger supplier relationships, increased profitability, and superior preparedness for financial audits. However, businesses that don’t automate this process are often overwhelmed with the time- and labor-intensive nature of manually performing 3-way matches. In order to scale this process as you grow your business, automation is critical. With IntelliChief, there’s no limit to how many documents you can process — even when the office is closed — thanks to robust automation capabilities that learn (and master) your business-critical processes.

To learn more about how IntelliChief can help your business overcome its Accounts Payable challenges with industry-leading workflow automation and document management solutions, contact us today.

 

Purchase to Pay: Results of Automating AP Processing

If you’ve attended a live sports or entertainment event, you’ve seen this company in action. They’re the stars for sound, staging, storage and transportation; the ones behind ‘the show must go on’.

The Challenge

The company was looking to streamline their Purchase to Pay process. Overall, the goal was to reduce the time, effort and cost of paying invoices. Within their Accounting workflow, all invoices were paper. Those arriving in an electronic format (frequently email attachments) were printed. This manual, paper intensive process made it difficult to find, route and organize each invoice associated with every order.

They used an internal mail service to send their paper invoices to Accounting, and the approval process was an extremely time intensive task. Their methods were not easy or efficient – those invoices without purchase orders were routed from Accounting to an approving manager via internal mail, reviewed/approved by the manager, then routed back to Accounting again by internal mail. Purchase order invoices were manually matched to the receiver’s invoice.

The Consensus

The company chose to implement IntelliChief as the enterprise content management (ECM) solution to automate their specific processes, creating an efficient Purchase to Pay environment. Since adding IntelliChief, the time for invoice approval and routing to the Accounting department for payment has been significantly reduced (quantified in the IntelliChief Automation Results section).

Now, all invoices are captured, electronically formatted, entered into IntelliChief and indexed by the Administrative Services department, replacing much of their ERP keying with touch-free, straight through processing. The company assigns each vendor a default approving manager. The invoices that are non-PO are automatically routed to the approving manager via IntelliChief’s automated workflow, eliminating (literal) steps from their previous manual routing process. PO invoices are placed in a To Be Matched inbox, with IntelliChief moving the PO invoices to be paid when a receiver matches the PO invoice. “A significant benefit of adding IntelliChief is the ability to handle existing workloads and avoid the need to hire or shift additional resources to AP, as our organization grows,” stated the company’s IT Director.

IntelliChief ECM’s integration with their ERP provided visibility, verification and validation (enhanced by IntelliChief’s item cross reference normalization) to assure payment accuracy, receipt of their contractual timely payment discounts, and avoidance of late payment penalties.

Paperless Prosperity

With IntelliChief ECM, all incoming invoices received by fax, email or mail are available electronically with-in the system, accessible via desktop or mobile device. With the company’s goal to be completely paperless, after the successful implementation in Accounts Payable, they see IntelliChief as the cornerstone of this endeavor. Next, their paperless expansion will encompass their Order-to-Cash process to decrease DSO’s and improve cash flow.

Complete Connection

A crucial component of their selection of IntelliChief is its ability to connect with any ERP or line of business system throughout the company. This will provide the company flexibility to utilize ECM in any department of their business they deem advantageous, to move them increasingly closer to paperless process management’s cost savings multiplier.

Seamless system integration was a significant differentiator of IntelliChief from other document management solutions. With IntelliChief, the company’s staff can capture, create, store, index, search, retrieve and distribute documents directly from any business system without leaving their desks, eliminating tedious, costly digging through filing cabinets or sourcing off-site storage for needed documentation.

Their IntelliChief AP Automation Results

Eliminate Expenses – They save $32 processing an invoice.

Reduce Processing Time – They save 23 days processing each invoice.

Capture Emailed Documentation Easily – Automated capture of emailed documents (both body contents and attachments) eliminates printing and keying.

Archive Simply – IntelliChief’s Print Capture function enables their users to electronically archive and prepare any document for workflow, simply by selecting the File-Print to IntelliChief feature.

Convenient 3-Way Matching – For Accounts Payables’ 3-way matching processing, the company’s staff utilizes a two-monitor desktop configuration, enabling them to simultaneously see both the original purchase order created in their ERP, with the invoice and receiver captured by IntelliChief.

Automate Invoice Routing Workflow – When processing invoices that required approval, the old method relied on internal mailing of the original invoice to the appropriate manager for approval, a process that took days. Using IntelliChief’s workflow to automate routing, the process is completed in minutes.

Improving Cash Flow with Accounts Payable

Founded in 1934 to make steel castings for the U.S. Military, this company has grown to be a top specialty manufacturer in the US. Their continued growth is based upon acquiring new customers while maintaining and growing loyal accounts through investments in innovative production abilities and proactive customer service.

A Paper-Based Problem

Improving cash flow with Accounts Payable.

One area of inefficiency this company realized was its plethora of paper processes. According to their Database Administrator, “We had a real need to go paperless to enhance accuracy while saving time and money.” The DBA and the company’s Controller agreed that an automated, paperless flow would benefit Accounts Payable (AP) and their interdepartmental colleagues, making sure that important documents never sat on anyone’s desk too long. It would also help the company with issues involving multiple document copies, outdated information circulation and duplicate payments.

The DBA indicated they had been using Quadrant Software’s Formtastic™ and FastFax™ solutions when they began their quest to go paperless, and they were excited to discover that IntelliChief enterprise content management (ECM) was a partner product of both Formtastic and FastFax, and could help them reach their document management and business process workflow goals. At first glance, the solution seemed like a perfect fit, but the company decided to evaluate other ECM options for comparison. In the end however, IntelliChief’s process workflow-matching configuration, and seamless integration with the company’s enterprise content management (ERP) system, made it the right choice for them.

“All the paper was costing us a lot of time and money,” the DBA relayed. It also resulted in too many mistakes. “We ended up double paying vendors two or three times a month, well, that we knew of. We had a team of four in AP who were struggling to keep-up with the increasing paper volume. They were doing the best they possibly could, though the backlog of ERP information keying and constant ‘walking-workflow’ put them in an unwinnable cash flow situation. IntelliChief was our way to fix this through automation.”

Piles (and Piles) of Paper

Before the IntelliChief implementation, all purchase orders were created manually. An initial requisition was drafted, and once approved three copies of the document were made. One went to AP, another to Purchasing and the final to the requestor. The information was then manually keyed into their ERP to create an official purchase order for the requisition. This PO would then be printed in triplicate and distributed. At this point in the process, the DBA explained that, “at least six pieces of paper had been generated to secure a single item.”

Once the item requested arrived, its receipt would be entered into their ERP. The receiver who signed for the goods would, according to the DBA, “hopefully be able to send the packing slip over to AP that day, preventing processing hold-up, or worse – documentation loss.” If the packing slip made it there, AP would then attempt to make a 4-way match, trying to marry up the original requisition, the PO, the packing slip and the inbound invoice from the vendor. Often however, all four documents did not make their way to AP, causing AP to have to request new copies from various parties within the process. If any originals did resurface, some items were entered twice, and invoices paid twice.

The time was right for the company to implement IntelliChief and activate additional tandem features within their ERP that would enable them to reliably go paperless.

Paperless Purchasing

The first thing the company did was to activate the Requisition Approval function within their ERP. This ability automates the requisition process, meaning no hard copies are produced. Once the requisition is approved in their ERP, a PO is generated within the system and faxed or emailed directly to the vendor through FastFax. No copies of the PO are required – every document within the purchasing process is archived within the IntelliChief system.

The company also activated the Receiving function within their ERP that’s integrated with IntelliChief, which allows the company to scan a packing slip at Receiving. AP no longer must wait for the physical slip; once it’s scanned it becomes available electronically via IntelliChief to all authorized users. When an invoice arrives (whether via fax, mail or email), it’s captured by IntelliChief and made available via their ERP screen, often with touchless, straight-through processing, eliminating data keying. Users can retrieve all related AP documents quickly on the screen together, making the 4-way matching process a snap. Also, there are no more checks to print, copy and file, as IntelliChief retains copies of each payment’s documentation, through automated capture and archival.

If a snag ever arises within the purchasing process (IE. the quoted price on a PO doesn’t match the price on an invoice), IntelliChief makes it easy to resolve the issue, through item cross-reference normalization. There’s no more walking paper across the building; instead AP simply forwards the item within IntelliChief’s process-specific workflow to the proper parties to resolve the issue. The best part, said the DBA, is that “all transaction documentation history is organized and stored in IntelliChief, making it very easy to archive and retrieve any aspect of any transaction, with all the steps and notations added in workflow retained.”

Automated Cash Flow Improvement

The DBA feels that IntelliChief has fundamentally changed the way the company conducts business. Most of their AP filing cabinets are gone. Everything and everyone are comfortably more efficient, helping to add dollars to the company’s bottom line. According to the DBA, “IntelliChief has really streamlined the invoice matching process and approvals, and payment scheduling, greatly enhancing our cash flow. We’re also benefiting from vendor discounts for the first time in our company’s history and finding them to be significant in our case. The multi-pay errors are virtually non-existent now.”

The Future

With IntelliChief, the company now operates a paperless Order-to-Cash operation. While they haven’t had the system in place long enough to fully calculate its payoff in this area, they’re already benefiting from on-screen visibility to order projects that they, and all their colleagues involved in fulfilling each order, haven’t previously had. The days of running between departments to retrieve, review, add notations and secure approvals are over. The Shipping Department is also better equipped to work with Customer Service, with both having real-time access to each order’s status. Any customer-requested order documents may be sent to them directly from IntelliChief by email or fax.

When asked if they would recommend going paperless with IntelliChief to other companies, the DBA responded, “Absolutely! Get rid of the paper – it will immediately save you time, money and frustration!” They also said that for most people letting go of paper was easier than had been expected, and that the few who struggled were convinced after just a few days, as they realized how easy it was to retrieve a document from IntelliChief. The DBA stated, “the IntelliChief search function is as intuitive as an Internet search engine. Whether the documents are linked to their ERP or they’re stand-alone items created within IntelliChief, the system makes it very easy to search for and access them right away. We’ve moved in the right direction – away from filing cabinets.”

ROI Calculator

AP Automation Actuals Calculator

ROI Calculator

Using your actuals to discern if AP automation makes fiscal sense for your company allows you to know for sure if it’s worth the pursuit. Will it also add value to your ERP system investment?

Now there’s a convenient way to find out. IntelliChief ECM’s AP Automation Actuals Calculator factors all cost savings related to moving from manual to automated processing in your environment, utilizing verification and validation from your ERP’s tables.

The calculator includes all aspects of AP processing, comparing your cost projections from years 1-5 of automation implementation. You’re able to see how AP Automation efficiencies affect your organization and provide guidance for process automation optimization when mapping your workflow, in-tandem with ECM system integration with your ERP.

What Information Can the ROI Calculator Reveal?

IntelliChief’s ROI Calculator is an effective tool for getting a better understanding of whether or not automation is right for your organization. In most cases, automation can make a world of difference in areas such as Accounts Payable and Accounts Receivable by increasing productivity, streamlining processes, and eliminating costly errors. Here’s what our ROI calculator can tell you about your business:

AP Statistics and Measurements

In-depth analysis of invoice sources and formats, quantities, data capture methods, resource/storage/labor cost (internal and outsourced), late payment fees paid and early pay discounts available.

Hard Dollar Costs

Determining manual processing actuals.

Staff Time

Often the hidden expenses associated with AP processing – time and cost of employee/contract staff in processing tasks, encompassing invoice printing, ERP/business system keying, approval routing, exception handling, data conversions, resolving duplicate payments, researching internal and vendor inquiries, audit preparation, tracking and reporting on all activities.

Measuring Your ROI Calculator Results

Purchasing and Receiving related costs also are factored in, including these departments’ labor costs for transactional documentation workflow routes.

Once these figures are entered, the Calculator progresses to both hard dollar savings/gains and efficiency savings for each year 1-5, per line item allocation. It provides a comparison of your current costs to what they would be in an automated environment.

With these calculations completed, you’ll know what impact AP Automation will have for you. If the outlook’s favorable, the data accumulated will be foundational for your business case.

For your free Calculator, contact IntelliChief.

The YMCA Central Maryland Selects IntelliChief Accounts Payable Automation

IntelliChief, a provider of automated document management and workflow enterprise content management (ECM) solutions, announces The YMCA Central Maryland selects IntelliChief Accounts Payable Automation. Upon vetting three industry-leading ECM systems, The Y chose IntelliChief for non-PO invoice processing, as they migrated invoices and data from their previous ECM. Their qualifications included a system integrated with their Stock, Garber and Associates (SGA) enterprise resource planning system (ERP), with retrieval and invoice data import for verifications and validations. They needed document capture capabilities to eliminate printing and scanning, decreasing ERP keying by increasing touchless straight-through processing, with workflow mapped to their specific processes to expedite reviews and approvals. The system needed to be scalable to expand into other departmental areas.

VP of Finance and Controller Jeremy Trimble commented, “we went through a very thorough analysis of options and feel great about the selection of IntelliChief. They met and exceeded all our criteria. We are thrilled about this new partnership.”

IntelliChief ECM provides a smooth, robotic process automation (RPA) transition from costly manual document management and workflow functions. Its industry-awarded AI-powered document capture enables users imaging capability of any paper or electronic format, indexing contents and validating with data in their ERP and line of business applications. It optimizes interdepartmental process workflow, with real-time analytic visibility through desktop and mobile access.

IntelliChief’s enterprise automated document management usage spans Accounts Payable, Purchasing, Sales Management, Customer Service, Human Resources-HCM, IT, Legal and Logistics/Distribution.

For IntelliChief ECM information, contact IntelliChief.

The YMCA Central Maryland is among the largest Y Associations in the U.S, providing service to over 350,000 people throughout the central Maryland region. They are a charitable, cause-driven organization working for community well-being, operating across over 100 sites with a focus on Youth Development, Healthy Living and Social Responsibility.

How Risky Is Risk?: A Case for Enterprise Content Management

According to the International Federation of Accountants, the ever-changing business landscape of new technology and fluctuating markets, positions accounting and finance professionals to have the most significant impact on enterprise risk management (ERM) within their organizations. With this opportunity to support value creation and preservation over time, they’re primed to contribute to both fiscal and operational aspects of ERM initiatives. The most prevalent identified need: enabling business system integration and interconnectivity to break down siloes across the organization for sharing information timely and cost-effectively. Workflow automation is a stable step towards ongoing reduction of capital and earnings risk.

How risky is risk – a case for Enterprise Content Management (ECM) begins with fixing the ERM problem of interdepartmental information silos, inadvertently created by lack of automated information management to enable staff to transcend departmentally-enclosed environments. Transactions – purchases and orders – is where this need is particularly evident.

Both Accounts Payable and Order process automation have reached functional, cost-effective scale through ECM. This technology enables all transaction-related information to be captured from native paper or electronic files, formatted to uniform image files for archival and automated workflow – interdepartmentally. With ECM integrated into a company’s ERP and line of business systems, this squarely addresses the silos, enabling staff to share timely, conveniently and cost-effectively from any location. Data is verified and validated between systems, with touchless, straight-through processing.

Reducing costs associated with processing and filing vendor invoices reflects AP automation’s impact, streamlining company workflow processes. It increases visibility into the invoice approval and exception handling through visualized analytics, ultimately mitigating late payment fee risk, while increasing early payment discount achievement through payment scheduling optimization.

By automating sales order processing, an organization benefits with faster order processing, while improving accuracy and lowering costs. Process control and visibility of orders routed for review, approval or exception handling is expedited. These aspects lead to a decrease in Days Sales Outstanding. Another multidepartment ECM benefit – improving Sales and Customer Service experiences for clientele, and for staff managing each account, bolstering customer retention and up-sell/cross-sell opportunities.

The International Federation of Accountants recent survey of US businesses concluded that 70 percent of them didn’t have a complete ERM process, though had a growing sense of urgency to discover and counter risk. A cost-beneficial step is AP and Order process automation with ECM.

For further information, contact IntelliChief.

Baseball Hall of Famer Tony La Russa Keynote Speaker at IntelliChief User Conference

IntelliChief, a leading provider of enterprise content management (ECM) solutions, announces baseball Hall of Famer and 3-time World Series winner, Tony La Russa as the Keynote Speaker for Intelligence ’19: the first annual IntelliChief User Group Conference, to be held in Boston, MA, from June 9th to June 12th at the Marriott Long Wharf.

About Tony

Tony LaRussa Intelligence 19La Russa, the third winningest manager of all time; only the second Major League Baseball manager to win World Series in both leagues; and the only All Star manager to win on both sides, won three consecutive American League championships and the 1989 World Series title with the Oakland A’s, three National League championships and the 2006 and 2011 World Series titles with the St. Louis Cardinals. He holds a Juris Doctorate from Florida State University and speaks fluent Spanish.

Tony is currently the Vice President, Special Assistant to the President of Baseball Operations for the Boston Red Sox and with his wife, Elaine are founders of the Tony La Russa Animal Rescue Foundation, headquartered in Walnut Creek, California.  The charitable foundation is dedicated to saving abandoned and injured animals, running programs to bring animals to abused children, hospitalized patients, seniors and shut-ins.  He is well-respected and among the top leaders in all professional sports.

La Russa will speak on Business Leadership Qualities of World Series Teams. This lively, interactive discussion will span the gamut of parallels between sports and business from measuring success and setting strategies to overcoming obstacles and motivating team players.  Tony, with a lifetime of baseball experience and a keen sense of humor, will not just entertain the conference of business executives, but touch on topics and subjects relevant to baseball and business fans alike.

About Intelligence ’19

Intelligence ’19 will be a premier user conference of IntelliChief customers gathered to learn, network and grow with other IntelliChief users and executives. The conference will provide the opportunity for IntelliChief executives and leaders to share insight, knowledge and best-practices with IntelliChief customers, while providing the perfect environment for customers to collaborate with fellow executives, peers & implementers of IntelliChief software. Sessions will focus on Accounts Payable Automation, Sales Order Processing, Human Resources management and streamlining other mission-critical business process, tightly integrated with key ERP systems.

Contact us today for more information.

AP Automation Justification Calculator for JD Edwards

ROI Calculator

Determining if AP automation is a project worth pursuing is primarily based on projected cost savings achievement. This is both a post-installation, near-term consideration, and one spanning subsequent fiscal year projections. While there are many industry average figures in circulation, they don’t provide you with accuracy based on your specific business environment.

The IntelliChief AP Automation ROI Calculator for JD Edwards

IntelliChief has created one, and it’s comprehensive. This tool’s objective is factoring all cost savings related to moving from manual to automated processing in your environment. It encompasses all aspects of AP processing, allowing you to add your related costs from years 1-5 of implementation, providing a true ROI projection. With this data, you’re able to see where AP Automation’s efficiencies affect your organization, providing guidance for process automation optimization when mapping your automated workflow, in-tandem with ECM system integration with your JD Edwards ERP for vendor and order information verifications and validations.

Required Information for AP Automation Justification Calculator for JD Edwards

In order for you to get a clear picture of where your company stands in relation to its ideal automation project, you will have to collect some important (and accurate) information to input into the calculator, including:

AP Statistics and Measurements

Covering aspects of invoice receipt modes, quantities, data capture methods, resource/storage/labor cost (internal and outsourced), late payment fees paid, and early pay discounts available.

Hard Dollar Costs

Quantifying budget allocated to manual processing.

Time Spent Per Person

Assessing appropriated time and cost of employee and contract staff in processing tasks, including invoice printing, ERP/business system keying, approval routing, exception handling, calculating data conversions, filing, resolving duplicate payments, researching internal and vendor inquires, audit preparation, tracking and reporting on all activities.

Justifying Your Automation Project

These extend from Accounts Payable into Purchasing and Receiving, encompassing labor cost of all workflow routes of transactional documentation.

Once these figures are collected and entered into JD Edwards, the Calculator progresses to both Hard Dollar Savings/Gains and Efficiency Savings for each year 1-5, per line item allocation, comparing your current costs to automation. This is the awakening – do the numbers equate the value of AP Automation for you?

Then calculations shift to ROI for AP Automation, measuring years’ 1-5’s returns if you implement an automated environment.

With these calculations completed, the AP Automation project decision becomes a clear choice, and equitable for prioritization. The data accumulated will be foundational for your business case.

For a video overview, see AP Automation Justification Calculator for JD Edwards here.

To order the free AP Automation Justification Calculator for JD Edwards, contact IntelliChief.

Doing JDE AP Automation the Integrated Way

Here’s how doing JDE AP Automation the integrated way works, processing of 2-way matching (Invoice to PO) and 3-way matching (Invoice to PO to Receiver) with JD Edwards EnterpriseOne and World.

Utilizing Oracle Gold Partner and Quest Oracle Community Sponsor IntelliChief ECM’s system, processing occurs in both initial document capture and in workflow, providing real time integrated JD Edwards database validations with automation’s speed and accuracy.

In-tandem with IntelliChief, information from JD Edwards is utilized to perform matching. IntelliChief keeps track of the PO quantity open and the Receiving quantity available by saving needed information when an Invoice line item is matched to a PO/Receiver. This can be set to identify by PO Number, Item Number/ID, Unit Price, Line Total, PO Quantity Ordered, Receiving Quantity, or two Miscellaneous fields of the user’s choice.

IntelliChief includes multiple Match Methods, where receiving quantity qualifies exact match, based on first in, first used, or a combination of both. It includes options for a Variance percent, amount and type for the Invoice to PO fields (Unit Price, Line Total, Quantity).

Matching features of Unit of Measure and Price normalization capability simplifies processing of standardized orders (Ordering Quantity vs. Invoiced Quantity). Part Number cross-referencing increases accuracy when obsolete numbers are referenced in the Invoice. Both increase touchless processing.

With IntelliChief, this touchless, straight-through processing significantly reduces information keying into JD Edwards, saving time and cost, enabling visibility to receive early payment discounts, while avoiding late payment fees.

This presentation illustrates doing JDE AP Automation the integrated way: http://bit.ly/2XK0RI8.

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AP Automation for Oracle EBS: The Integrated Way

AP Automation for Oracle EBS: The Integrated Way

AP Automation for Oracle EBS the Integrated Way – Including 2-Way and 3-Way Matching, Unit of Measure Normalization, Part Number Conversions.

Learn how Accounts Payable professionals are able to automate processing of 2-way matching (Invoice to PO) and 3-way matching (Invoice to PO to Receiver) purchase orders with Oracle EBS.

Utilizing IntelliChief, processing occurs in both initial document capture and in workflow, providing real-time integrated Oracle database validation. In conjunction with IntelliChief, information from Oracle EBS is utilized to perform matching.

Unit of Measure normalization simplifies processing of standardized orders (Ordering quantity vs. Invoiced Quantity), and Part Number cross-referencing increases accuracy when disparate numbers are referenced in the Invoice.

These capabilities increase “touchless” processing. With IntelliChief, this touchless, straight-through processing significantly reduces the amount of information keyed into Oracle EBS, saving time and cost, and ensuring visibility to early payment discounts, while avoiding late payment fees.

Discover the Benefits of a Seamless Integration for Your Oracle EBS AP Automation Project



How Content Management Can Compliment Your HRIS Platform for Going Paperless

How Content Management Can Compliment Your HRIS Platform for Going Paperless

Content Management for HRIS Helps Optimize Your HR Processes



PeopleSoft Accounts Payable Automation

PeopleSoft Accounts Payable Automation

How long do your employees spend on Accounts Payable in PeopleSoft?  If you’re not using your Oracle PeopleSoft ERP as efficiently as you could be, IntelliChief can help. We offer AP automation solutions specifically for Oracle, and because we’re an Oracle Gold Partner that has performed countless installations for PeopleSoft customers, we can configure a solution that aligns perfectly with your needs and goals.

What to Expect When You Automate Accounts Payable in PeopleSoft

Our PeopleSoft Accounts Payable Automation tools help you:

  • Collect, process, and store your vendor invoices
  • Capture more vendor discounts
  • Collaborate easily between multiple departments
  • Prevent lost or misplaced documents
  • Eliminate inefficiencies from manual entry

Automated workflows let you capture purchase orders, order acknowledgments, and receiving documents from both paper-based and electronic formats. Once captured, they’re organized and stored with any related transactional documents. Meanwhile, our software compares all of the data with the transactional information you already have saved in PeopleSoft. You don’t have to manually match the information or waste time on multi-step approval routing.

The best part? PeopleSoft users that implement IntelliChief for AP typically achieve a full ROI within one year — and that’s not the only benefit.

PeopleSoft ap invoice automation

The Benefits of PeopleSoft Accounts Payable Automation With IntelliChief

When you automate PeopleSoft with IntelliChief, your business will become faster, leaner, and more profitable. Customers benefit from:

  • Industry-leading integration backed by Oracle Gold Partner status eliminates the need for multiple vendors or technical resources
  • Embrace a paperless office that is more sustainable, environmentally friendly, and adaptable
  • Full visibility in the Accounts Payable process, including micro- and macro-level tracking
  • Boost deployment speed
  • Improve accuracy with advanced validation software that gets smarter over time
  • Automatically capture invoices from a monitored inbox
  • 80-90 percent reduction in manual data entry
  • Lightning-fast 2-, 3-, and even 4-way matching
  • Secure digital repository creates a centralized hub for all documents
  • Analyze processing speed, cost, efficiency, and ROI achieved with IntelliChief
  • Remote access from any smartphone or tablet
  • 24/7 security and audit protection

ECM PeopleSoft

Discover Our PeopleSoft Accounts Payable Automation Solutions

Is your company ready to phase out old, inundated processes that prevent it from reaching its potential? Your growth objectives are clear. You’re ready to take the next step, and IntelliChief can help you get there with PeopleSoft Accounts Payable automation. Realize instant ROI as your processes become faster, more accurate, and smarter — literally paying you back over time by automatically taking advantage of early payment discounts while eliminating late payments.

Want to learn more about our PeopleSoft Accounts Payable automation solutions? Contact us today for a free consultation. Our automation experts will help you determine whether or not your business is a good fit for automation.

 

 

Adopting a Paperless HR Electronic Filing System

Adopting a Paperless HR Electronic Filing System

In HR, an electronic filing system can make it easier to stay organized. Your Human Resources Managers can have resumes, applications, benefits forms, performance reviews, and other important records stored in a digital archive – with everything right at their fingertips when they need it.

IntelliChief’s document management software integrates directly with your HRIS platform. By communicating with your Applicant Tracking, Employee Onboarding, Performance Management, and Employee Self-Service modules, it lets you automatically capture, categorize, and sync your most important HR data.

Our electronic HR filing system helps you move away from traditional storage, keeping confidential information secure while letting you access it from anywhere. And because of its real-time integration with your HRIS solution, it lets you deliver your employee and contractor information to any Human Resources application – without manual data entry.

The Real-Life Impact of an Electronic HR Filing System

Our software lets you:

Ready to modernize your approach to Human Resources? Contact us today and learn more about the benefits of electronic filing.