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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


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.


Objectives

Discuss and learn how to improve

o Invoice Delivery

o Data Capture

o Invoice Process Automation

o Approvals & Workflow Automation


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


Case #1


• 500+ active locations

• 1600+ monthly active utility accounts

– (Electric, Gas, Water, Waste)

• Paper, Email, Login

– Central & Decentralized

• Manual approvals

Case #1


Opportunities

• Unpaid bills

– Shut off notices

– Late fees

– Deposit on Account

• Data Entry Errors

– Inconsistent GL Coding

• Lack of Spend Data– Trends

– Billing errors


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


Improvements

• Exception reporting

• Rate & Trend reporting

– Consolidation

– Usage negotiation

• Cash flow

– Elimination of Deposits on Account


Case 2


Case 2

• 600+ active locations

• 1900+ monthly active utility accounts

– (Electric, Gas, Water, Waste)

• Paper, Email, Login

– Central & Decentralized

• Manual approvals


Opportunities

• Unpaid bills

– Shut off notices

– Late fees

– Deposit on Account

• Data Entry Errors

– Inconsistent GL Coding

• Lack of Spend Data– Trends

– Billing errors


• 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


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


SESSION TITLE

SPEAKER NAMESTRACK G: AUTOMATION CASE STUDIES

TRANSFORMING COMPLEX INVOICE MANAGEMENT WITH TECHNOLOGY

HELEE LEVCHIEF REVENUE OFFICER - GOBY

STEVE IANNARONESENIOR IMPLEMENTATION MANAGER - GOBY


SESSION TITLE

SPEAKER NAMES

track g: automation case studies session title › uploads › ... · a typical business case for...

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