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ACCOUNTS PAYABLE AUTOMATION FOR SMBs
How Cloud Solutions Make Paperless Processing Easy, Effective & Affordable
eBook: Accounts Payable
eBook Overview...........................................................................3
Manual AP Processing Is More Painful for SMBs..............4
The Cloud Offers an Ideal Alternative.....................................6
Esker’s Solution: End-to-End AP Automation........................7
ERP Supported Integrations....................................................8
External Workflow Makes Operations Seamless................9
The Results Speak for Themselves.....................................10
About Esker................................................................................12
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Accounts Payable Automation for SMBs | 2
TABLE OF CONTENTS
ACCOUNTS PAYABLE AUTOMATION FOR SMBs
How Cloud Solutions Make Paperless Processing Easy,
Effective & Affordable
Accounts Payable Automation for SMBs | 3
Accounts payable (AP) automation offers the kind of benefits that all businesses can appreciate, from improved invoice processing speed and accuracy rates to enhanced financial control and visibility. However, there is still a perception that only the “big boys” can pull it off.
The cloud has changed all that.
Where AP automation used to require on-premises software integrated with a big-name ERP system and an even bigger IT investment, cloud technology now makes it possible for small to mid-sized businesses (SMBs) to capitalize on the benefits of AP automation with minimal risks or upfront expenses.
This eBook explores why cloud-based AP is perfectly suited for SMBs, and addresses the key considerations before choosing an automated solution.
eBook Overview
Everything Comes at a Higher Cost.
SMBs don’t have the high invoice volumes of large enterprises but the time and manpower needed for manual data entry, approval and storage take their toll. Big businesses can manage by simply adding staff and easily absorbing the cost. Cash-strapped SMBs, on the other hand, are forced to handle invoices with limited personnel even though their volumes may be growing.
Improving Is Easier Said Than Done.
Unlike bigger businesses, a lot of SMBs run obscure ERP systems or homegrown legacy solutions. The complexity of such a setup can cause SMBs to think their AP infrastructure is beyond help. What’s more, the general lack of visibility due to manual processing makes it difficult to forecast expenses and identify areas of improvement.
There Is Much Less Room for Error.
Businesses who process their invoices manually are proven to experience a higher rate of errors (e.g., duplicate payments, late payments and overpayments). Where larger enterprises typically have enough leverage to withstand the fallout from a damaged supplier relationship or missed early payment discount, the majority of SMBs have no such luxury.
MANUAL AP PROCESSING IS MORE PAINFUL FOR SMBs
Accounts Payable Automation for SMBs | 4
Traditional paper-based AP operations hurt businesses of all sizes but the negative effects are felt by SMBs to a greater extent. Here are three primary reasons why:
01 02 03
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PAPER INVOICES STILL ACCOUNT FOR 90% OR MORE OF THE TOTAL INVOICE VOLUME FOR THE MAJORITY OF AP DEPARTMENTS.*
* Crowley, L., & Sears, D. (2012). 2012 AP Cloud Study. The Institute of Financial Operations.
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THE CLOUD OFFERS AN IDEAL ALTERNATIVE
The benefits of paperless AP are no longer exclusive to businesses with deep pockets. Cloud technology makes automation easy and affordable for SMBs thanks to a variety of features:
No New Hardware or Software InvestmentsRegardless of format, scanned or electronic invoices are entered into an automated workflow where Esker’s intelligent image recognition technology accurately extracts data. Captured data is checked against ERP master data and dispatched to the appropriate parties for approval. The invoice is automatically archived in a web portal and linked back into the ERP application and available for as long as needed.
Unified AP Workflow Outside the ERP SystemA unique feature of cloud-based AP automation solutions is that workflow resides outside of the ERP system. This provides users anytime, anywhere access to invoices, promotes user acceptance, simplifies training, and helps maintain business continuity during IT landscape changes.
Predictable Pricing via Pay-Per-Use ModelCloud automation operates on a pay-per-use pricing model, meaning users only pay for the amount of service used. This not only gives SMBs some much-needed pricing predictability, it offers a tremendous level of flexibility for variations in invoice volume and users.
Benefits of AP in the Cloud
§� Rapid project go-live§� 24/7 availability§� Immediate scalability§� Low risk§� Easy access from anywhere§� Pay for what you use
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ESKER’S SOLUTION: END-TO-END AP AUTOMATION
Esker’s Accounts Payable automation solution is an on-demand service that complements virtually any ERP application. Capabilities such as dynamic data capture, integrated workflow and process tracking help SMBs eliminate the challenges associated with manual invoice processing.
Locally or centrally received paper invoices
are scanned and immediately entered into an automated
workflow.
RECEIVE & SCAN EXTRACT VERIFY & MANAGE ARCHIVE FOLLOWAll relevant vendor
invoice data is found and extracted; the
corresponding document is then created in the ERP
application.
Invoices are routed to the correct workflow path, either straight-
through for integration in the ERP or for user validation to handle
exceptions.
Invoice data is integrated in the ERP
system while a copy of the original is attached
and available to any authorized user.
Invoices are made 100% visible and
traceable in every stage, enhancing reporting
and monitoring capabilities.
Here’s How It Works:
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ESKER ACCOMODATES THE UNIQUE NEEDS OF SMBs
Here is a list of our ERP supported integrations:
The applications listed are only a sample of Esker’s ERP supported integrations and do not reflect its entirety.
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EXTERNAL WORKFLOW MAKES OPERATIONS SEAMLESS
Solutions that function inside the ERP environment are generally inflexible, limited in access and prone to complexity. With Esker, SMBs can avoid the extra costs and hassles by unifying their AP operations (even in a multi-ERP environment) with data recognition, validation and workflow
outside the ERP system.
Fax
E-mail Web
www
Paper & Scan
ERP system
ERP serverand/or other
archiving database
Vendor Invoice
Capture
Read
Validate
Benefits of External AP Workflow
§� Invoices can be accessed 24/7 year-round anywhere in the world.
§� Training is simplified, which helps enhance user acceptance.
§� Any designated individual can approve invoices (including non-ERP users).
§� Business continuity is maintained by stabilizing AP operations during change.
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THE RESULTS SPEAK FOR THEMSELVES
Esker has helped a multitude of SMBs streamline AP processing through the use of cloud automation. Below are highlights from one of our most recent success stories.
How Esker Helped:
Reduced workload. Unlike before, when one full-time employee was dedicated to performing manual tasks, managing invoices is now easier and more efficient with electronic processing.
Optimized scalability. Even as the business continues to demand more payables and transactions, AP automation has allowed Austin Powder to avoid adding staff or infrastructure.
Minimized complexity. Esker was able to seamlessly integrate with Austin Powder’s newly implemented ERP system, saving a significant amount of time, money and hassle.
Standardized processes. Austin Powder leveraged Esker’s on-demand capabilities to standardize AP processing for its remote offices using a shared services model.
Founded in 1833, Austin Powder manufactures commercial
explosives that are primarily used for construction, mining,
quarrying and seismic exploration.
Austin Powder is classified as an SMB, with under 500 employees.
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Accounts Payable Automation for SMBs | 11
OUR MAIN GOAL WAS TO KEEP GROWING WITHOUT ADDING INFRASTRUCTURE OR STAFF, AND ESKER HELPED US ACCOMPLISH THAT. THE GREAT THING ABOUT ESKER IS, YOU DON’T HAVE TO BE A GIGANTIC COMPANY TO BENEFIT.Chief Financial Officer • Austin Powder Co.
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Esker is a worldwide leader in on-demand and on-premises document process automation solutions, helping organizations of all sizes Quit Paper™ and improve how their critical business information is processed and exchanged.
Founded in 1985, Esker has more than 80,000 customers and millions of licensed users worldwide. Esker’s operates in North America, Latin America, Europe and Asia Pacific with global headquarters in Lyon, France, and U.S. headquarters in Madison, Wisconsin.
Who We Are
Whiteboard VideoMore Efficient Accounts Payable with Automation
White Paper Overcoming the Challenges of Vendor Invoice Processing
Guidebook7 Steps to Easily Transform Accounts Payable from Manual to Touchless
Plus, be sure to check out the Esker Blog, your connection to everything newsworthy in the world of automation.
Want to Learn More?
U.S. Headquarters: Madison, Wisconsin
World Headquarters: Lyon, France
ABOUT ESKER
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© 2014 Esker S.A. All rights reserved. Esker and the Esker logo are trademarks or registered trademarks of Esker S.A. in the U.S. and other countries. All other trademarks are the property of their respective owners.
