ÿþ<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN"> <html> <head> <title>The AccuView :: Accuimage, LLC</title> <!--InlineCSS--> <style type="text/css"> .ver11 { font-family: Verdana, Arial, Helvetica, Tahoma, sans-serif; font-size: 12px; text-decoration: none; color: 061142; text-align: justify; } .minornav { font: 10px Verdana, Arial, Helvetica, Tahoma, sans-serif; color: CC0000; } .minornav td { font-size: 10px; white-space: nowrap; } .minornav input { font: 10px Verdana, Arial, Helvetica, Tahoma, sans-serif; color: CC0000; } .minornav a { color: CC0000; text-decoration: none; } .minornav a:hover { text-decoration: underline; color: 06118F; } </style> </head> <center> <body bgcolor="#C6D6E3" link="255D90" alink="255D90" vlink="255D90"> <!--Masthead--> <table cellpadding="0" cellspacing="0" border="1" bordercolor="959595" width="827" align="center"><tr><td> <table cellpadding="0" cellspacing="0" border="0" width="825" align="center"> <tr> <td><img src="http://www.accuimagellc.com/enewsletter/issue47/images/masthead.jpg" width="825"></td> </tr> </table> <!--EndMasthead--> <!--Body--> <table cellpadding="0" cellspacing="0" border="0" width="825" bgcolor="#ffffff" align="center"> <tr><td bgcolor="ffffff" width="20" height="100%">&nbsp;</td> <!--LeftColumnTEXT--> <td background="http://www.accuimagellc.com/enewsletter/issue47/images/stretchleft.jpg" width="375" height="100%" valign="top"> <table cellpadding="0" cellspacing="0" border="0" width="375"> <tr> <td valign="top" width="375"> <!--InThisIssue--> <div style="padding-left:5;"><a name="issue"><img src="http://www.accuimagellc.com/enewsletter/issue47/images/issue.jpg" border="0"></a></div> <div class="ver11" style="padding-left:27;padding-top:;padding-right:15;"> <b><em>Quick Links</b></em> <script language="JavaScript"> function slctsys(){ window.document.location.href = document.frmSlct.systems.value; } </script> <br><br><img src="http://www.accuimagellc.com/enewsletter/issue47/images/bullet.jpg" width="5" height="5" valign="center">&nbsp;&nbsp;<a href="#articles"><b>Feature Articles</b></a> <br><img src="http://www.accuimagellc.com/enewsletter/issue47/images/bullet.jpg" width="5" height="5" valign="center">&nbsp;&nbsp;<a href="#perspective"><b>From My Perspective</b></a> <br><img src="http://www.accuimagellc.com/enewsletter/issue47/images/bullet.jpg" width="5" height="5" valign="center">&nbsp;&nbsp;<a href="#trendsfeatures"><b>Hot Trends and Features</b></a> <br><img src="http://www.accuimagellc.com/enewsletter/issue47/images/bullet.jpg" width="5" height="5" valign="center">&nbsp;&nbsp;<a href="#newsandrumors"><b>News and Rumors</b></a> <br><img src="http://www.accuimagellc.com/enewsletter/issue47/images/bullet.jpg" width="5" height="5" valign="center">&nbsp;&nbsp;<a href="#servicesspotlight"><b>Services Spotlight</b></a> <br><img src="http://www.accuimagellc.com/enewsletter/issue47/images/bullet.jpg" width="5" height="5" valign="center">&nbsp;&nbsp;<a href="#solutionofmonth"><b>Solution of the Month</b></a> </div></td> <!--EndInThisIssue--> </tr> <tr> <td valign="top" width="375"> <!--FromPerspective--> <div style="padding-left:5;"><a name="articles"><img src="http://www.accuimagellc.com/enewsletter/issue47/images/APRIL1_hdr.jpg" border="0"></a></div> <div class="ver11" style="padding-left:27;padding-top:5;padding-right:15;" align="justify"> <em><b>By Tom Beasley</em></b> <p />Most issues of <em>The AccuView</em> focus on a single technology. Recent issues have put document management, electronic content management, image-enabled line-of-business applications and electronic forms center stage. This month, we re focusing on a specific department  accounts payable  that can benefit from many of the technologies we ve been discussing over the past year. Today s most successful AP solutions fully integrate existing AP or ERP systems with technologies for document and data capture, search and retrieval, automated workflow, compliance and auditing, vendor self-service, and more. <p />The value to be gained by eliminating manual invoice processing and increasing efficiencies through accounts payable automation seems obvious. But if any were not convinced, the recent economy and its effect on business costs should be enough to erase any last shred of doubt. Many businesses are realizing that they can no longer overlook the high costs and inefficiency of having staff spend so much time scrambling to enter invoices, getting the necessary signatures for approval, and filing and retrieving invoices. Automation can cut processing time and costs by at least 50 percent, bring complete visibility to every invoice processed, reduce paper filing by up to 100 percent, and literally save tons of paper. <p />In this issue, you ll learn the reasons to automate your payables operation, the levels of automation, the hot trends in automation, and how AccuImage s professional services team can help you get there. <p />When you re ready to discuss an AP automation solution for your business, we re here to address your unique needs and answer your questions. Please call us at 615.242.7226 for a consultation. <p />Enjoy! <br>Tom Beasley <br><a href="mailto:tom.beasley@accuimagellc.com?subject=Email%20from%20The%20AccuView"><b>tom.beasley@accuimagellc.com</b></a> </div></td> <!--EndFromPerspective--> </tr> <tr> <td valign="top" width="375"> <!--FeaturedArticles--> <div style="padding-left:5;"><a name="perspective"><img src="http://www.accuimagellc.com/enewsletter/issue47/images/APRIL2_hdr.jpg" border="0"></a></div> <div class="ver11" style="padding-left:27;padding-top:5;padding-right:15;" align="justify"> <em><b>This Month s Topic: Accounts Payable Automation</em></b> <p><b>Strategic Reasons to Automate Accounts Payable</b> <br>Until recently, most organizations that implement AP technologies have been driven by the operational benefits the solutions deliver: steadying costs, reducing errors and enhancing productivity. Doing more with less was the mantra. Not anymore. Today, innovative financial managers are evaluating AP automation as an area that can deliver significant benefits around spend visibility, vendor relations and working capital management. This article details strategic reasons to automate. <div align="right"><img src="http://www.accuimagellc.com/enewsletter/issue47/images/bullet.jpg" width="5" height="5" valign="center">&nbsp;&nbsp;<a href="http://www.accuimagellc.com/enewsletter/issue47/article1.html"><b>Read More</b></a></div> <p><b>Levels of Accounts Payable Automation</b> <br>Many research firms have extensively examined and documented approaches to AP automation. Based on that research, a framework and approach have been developed that significantly reduce the risks and increase the likelihood of success in achieving high levels of AP automation. The framework identifies six levels of AP automation, which are outlined in this article. Using a strategy of moving successively from one level to the next has been found to result in high levels of automation within relatively short periods of time. <div align="right"><img src="http://www.accuimagellc.com/enewsletter/issue47/images/bullet.jpg" width="5" height="5" valign="center">&nbsp;&nbsp;<a href="http://www.accuimagellc.com/enewsletter/issue47/article2.html"><b>Read More</b></a></div> </div></td> <!--EndFeaturedArticles--> </tr> <tr> <td valign="top" width="375"> <!--Trends--> <div style="padding-left:5;"><a name="trendsfeatures"><img src="http://www.accuimagellc.com/enewsletter/issue47/images/APRIL3_hdr.jpg" border="0"></a></div> <div class="ver11" style="padding-left:27;padding-top:5;padding-right:25;" align="justify"> <b><em>... in Accounts Payable Automation</em></b> <p />The accounts payable automation landscape is constantly evolving. The following are three factors shaping the evolution of this marketplace. <p /><b>Convergence of Web Invoicing and Imaging</b> <br>Web invoicing solutions are explicitly designed to facilitate buyer-supplier interactions, while imaging and workflow automation solutions have evolved to meet organizations internal needs around invoice receipt and management. However, as the Internet expands into all corners of business communication, the distinction between internal and external breaks down. Solutions covering both paper and electronic invoices and incorporating better options for invoice receipt, approval processing and discrepancy resolution provide better control and collaboration. <p /><b>Straight-Through Processing</b> <br>As automation moves to the front-end of the AP process, organizations will also seek to leverage straight-through processing to the extent possible, so that AP staff and approvers can focus on more value-added tasks than reviewing invoices. Solutions need to facilitate this by delivering strong functionality around automated invoice matching and automatic approval of  clean invoices as well as strong functionality around approval workflow to manage exceptions and the dispute resolution process in a collaborative manner. <p /><b>Discount Management through AP Automation</b> <br>Innovative financial managers are recognizing that AP automation technology not only delivers operational benefits like cost containment, but has the potential to help companies improve their ability to capture supplier discounts. Innovative solutions unlock significant value from the financial supply chain through advanced features like vendor self-service, supplier on-boarding and dynamic settlement. <p><small>[Source: PayStream Advisors]</small> <p></p></div></td> <!--Trends--> </tr> <tr> <td valign="top" width="375"> <!--NewsandRumors--> <div style="padding-left:5;"><a name="newsandrumors"><img src="http://www.accuimagellc.com/enewsletter/issue47/images/APRIL4_hdr.jpg" border="0"></a></div> <div class="ver11" style="padding-left:27;padding-top:5;padding-right:15;" align="justify"> <b><em>What We ve Seen and Heard</em></b> <p /> Typically 80 percent of the work done in AP is associated with invoice processing. Over 99.9 percent of all invoices are prepared on computers, yet the vast majority of them are processed by manually keying information from a paper invoice into an automated system to process and pay. <div align="right">- <em>Kofax</em></div> <p>IOMA s AP Department Benchmarks and Analysis 2010 Report found that the average company with a low level of automation spends $15.70 to process an invoice  one single invoice. <p> With automation, a school district in Ohio has cut labor costs by the millions. An energy company was able save $240,000 in annual labor costs  and cut their processing cycle from 22 to just three days. A distribution company has nearly tripled the number of invoices processed each day per operator, from 250 to more than 700. And an international manufacturer is now able to process an increased invoice volume of more than 65 percent  without any additional staff. <div align="right">- <em>AnyDoc Software</em></div> <p /> AP professionals who have installed imaging and workflow technology are now agreed that these systems pay for themselves in a relatively short time through savings in labor and storage costs. Look confidently for a return on investment when planning an imaging and workflow initiative. <div align="right">- <em>IOMA</em></div> <p />AccuImage End of Support Schedule <br><a href="http://www.accuimagellc.com/eos.html"><b>www.accuimagellc.com/eos.html</b></a> <p></p></div></td> <!--EndNewsandRumors--> </tr> <!--EndLeftColumn--> </table> </td> <!--Gutter--> <td bgcolor="ffffff" width="20" height="100%" valign="top"> <img src="http://www.accuimagellc.com/enewsletter/issue47/images/buffer.jpg" width="10"></td> <!--EndGutter--> <!--RightColumn--> <td background="http://www.accuimagellc.com/enewsletter/issue47/images/stretchright.jpg" width="375" height="100%" valign="top"> <table cellpadding="0" cellspacing="0" border="0" width="375"> <tr> <td valign="top" width="375"> <!--SolutionoftheMonth--> <div style="padding-left:5;"><a name="servicesspotlight"><img src="http://www.accuimagellc.com/enewsletter/issue47/images/APRIL5_hdr.jpg" border="0"></a></div> <div class="ver11" style="padding-left:27;padding-top:5;padding-right:15;" align="justify"> <em><b>Top Ten Reasons to Automate AP Processes</em></b> <p>Let s count down the top ten reasons to automate your AP processes & <p /><b>10. Complete and Clear Visibility</b> <br>To gain complete and clear visibility throughout the entire AP flow, organizations must minimize the paper and tightly integrate AP processes with their ERP systems. Automating by integrating document capture and workflow within ERP sets the foundation for complete and clear visibility. <p /><b>9. Accelerate Period End Close with Accuracy</b> <br>A faster, more accurate AP close can be achieved by leveraging AP automation, performing earlier account reconciliation and accruing liabilities. <p /><b>8. Turbocharge Productivity</b> <br>Increased productivity is so broad a concept it is almost meaningless unless associated with these three concrete steps: (a) automate, (b) reduce complexity by improving business processes, and (c) track productivity. Technologies and process improvements that enable automation and lead to turbocharged productivity include: data capture, discrepancy resolution and approval, ERP integration, and self-service capabilities. <p /><b>7. Leverage Your ERP Investment</b> <br>The key to unlocking the value in an organization s ERP investment is to develop simplified and standardized processes for repetitive tasks such as invoice receipt, review and approval. Most companies have spent large amounts of money on sophisticated ERP implementations, but then the old, pre-ERP processes are simply transferred or retrofitted to work with the new system. <p /><b>6. Improve Quality</b> <br>A quality program is the cornerstone of any effort to develop a  continuous improvement culture. In general, quality programs such as Six Sigma, LEAN and Balanced Scorecards highlight quality issues by identifying root causes leading to corrective actions  and they do pay direct dividends. But quality initiatives need to be complemented with the right technologies to support self-service and the capture, measurement and reporting of process metrics. Furthermore, workflows that are tightly integrated with ERP systems provide process data that can be mined to reveal valuable metrics and business intelligence. <p /><b>5. Facilitate Spend Analysis and Forecasting</b> <br>In many organizations, the AP and Procurement departments frequently share responsibility for the VMF. This results in duplications, leading to an incomplete or inaccurate understanding of current costs. The solution is to designate a single owner who is responsible for ensuring the viability of the VMF and the surrounding processes. Clean vendor data enhances a corporation s ability to analyze where money is spent and can greatly facilitate budgeting, planning and forecasting activities. <p /><b>4. Embrace Best Practices</b> <br>The most effective and expedient path to AP best practices is the automated enforcement of policies and procedures via workflows. Automated workflows that enforce AP business rules can ensure that all transactions: (a) adhere to a standard process, (b) follow approval and authorization policies, and (c) have necessary backup attached. Automating AP through document capture and workflow encourages timely, accurate approvals. When automated approvals are put in place, people realize that the process is systematic, controlled and tracked and that there are ramifications if approvals are not carried out in a timely fashion. <p /><b>3. Create a Foundation for Globalization</b> <br>As companies grow, Shared Services serve as an  express train to more efficient finance operations. They provide a strong foundation for growth by enabling organizations to relocate technology and staffing to the geographic location of choice. The adoption of Shared Services can transform finance operations from a decentralized, divisional staffing model with disparate systems and processes into a highly efficient worldwide service center characterized by reduced costs, improved service levels and increased control. Core financial operations such as AP are centralized in one or more Shared Service Center locations with a single set of streamlined processes and a single technology solution to serve a region or enterprise. <p /><b>2. Strengthen Internal Controls</b> <br>Whether the goal is fraud prevention or SOX compliance, the way to gain control is with best practices that create the foundation for a strong controls environment. The following best practices are critical to managing risk while keeping a lid on the cost: (a) process simplification and centralization, (b) technology leverage, and (c) automated and preventative controls. <p /><b>1. Optimize the Company s Biggest Asset: Cash</b> <br>Tap into well-implemented workflow and capture to create more efficient and less costly processes. Best practice workflows ensure simple, standardized processes where documents are brought online at the outset (using high-volume document capture), are fully integrated with the ERP (to avoid data duplication) and are then routed to all participants in a given business process, including non-ERP users. The workflow enables stronger internal controls; improved quality; significantly reduced leakage errors, payment errors and fraudulent payments; and enables discount capture. Additionally, self-documenting audit trails streamline audits and disputes; the process takes less time for everyone involved. <p /><small>[Source: Kofax]</small> <p></p></div></td> <!--EndSolutionoftheMonth--> </tr> <tr> <td valign="top" width="375"> <!--Services--> <div style="padding-left:5;"><a name="solutionofmonth"><img src="http://www.accuimagellc.com/enewsletter/issue47/images/APRIL6_hdr.jpg" border="0"></a></div> <div class="ver11" style="padding-left:27;padding-top:5;padding-right:25;" align="justify"> <em><b>Professional Services for AP Automation Solutions</em></b> <p />This issue of <em>The AccuView</em> focuses on solutions for better managing your incoming invoices  using electronic document and data capture tools and automated workflow. We ve been implementing these types of solutions for AccuImage customers long enough to know that they are all unique, and not one implementation has ever qualified as  plug-and-play. Our second feature article,  Levels of Accounts Payable Automation, contends that there are six levels of automation (from having basic AP software or an ERP system in place to achieving supplier self-service) and that it could take years to move a company from Level 0 to Level 5. <p />Each AP implementation is a process, with unique challenges that arise and unique solutions that are brought in throughout the various stages, and you need a partner who can help you master each phase, and every step within each phase. Furthermore, all solutions require varying degrees of customization, and that s where the AccuImage professional services team comes in. We employ a highly-skilled and experienced professional services staff, consisting of software developers, systems integrators and technical engineers, dedicated to professionally crafting and implementing solutions that achieve tangible results for all customers. Our team is committed to understanding your business needs and providing customization and installation services to satisfy your unique requirements. <p />There s no need to embark on a project like this, or any imaging or business process management initiative, on your own. That s why we re here! For more information, please call 615.242.7226. </div></td> <!--Services--> </tr> </table> </td> <td bgcolor="ffffff" width="20" height="100%">&nbsp;</td> <!--EndRightColumn--> </tr> </table> <!--EndBody--> <!--Baseline--> <table cellpadding="0" cellspacing="0" border="0" width="825" height="30" align="center"> <tr> <td width="226" valign="top" height="30"> <img src="http://www.accuimagellc.com/enewsletter/issue47/images/baseline.jpg"></td> </tr> </table> <!--EndBaseline--> </td></tr></table> </body> </center> </html>