P2P in 2020 - The Push for Supplier Self-Service
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This document summarizes a webinar on supplier self-service featuring speakers Sandy Hicks from the University of Colorado, Vishal Patel from TradeShift, and Henry Ijams from PayStream Advisors. Sandy Hicks discussed the University of Colorado's efforts to automate their supplier registration process. Vishal Patel discussed how TradeShift is addressing the gap between consumer and business systems by providing a platform for suppliers and buyers to communicate and collaborate. The webinar covered trends in purchase-to-pay automation and strategies that innovative organizations are implementing.
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P2P in 2020 - The Push for Supplier Self-Service
- 1. 1 Henry Ijams Managing Director PayStream Advisors, Inc. 1 P2P in 2020 Webinar Series: Session 1 The Push for Supplier Self-Service Sandy Hicks Assistant Vice President & Chief Procurement Officer University of Colorado July 10, 2014 Vishal Patel Sr. Manager TradeShift
- 2. 2 Henry Ijams Henry Ijams. CP2P2 Managing Director PayStream Advisors, Inc. Mr. Ijams' 28 years of experience focuses on trends and technologies in financial operations automation including strategies regarding the automation and benchmarking of Purchasing and Payables processes. Sandy Hicks AVP & Chief Procurement Officer, Univ. of Colorado Ms. Hicks is responsible for overseeing the procurements and payables of the four-campus University of Colorado (CU) System. She manages a staff of 44 whose functional areas include Purchasing Services, Strategic Procurement, Payable Services, Commercial Card Program, Travel Program, Small Business Program, Contract Services, and Procurement Systems. The annual spend for the University is $753 million. Vishal Patel Sr. Manager, TradeShift As a former industry analyst, Vishal brings many years of experience researching, benchmarking and advising enterprises on their AP and P2P strategies. He has a deep understanding of the technology solutions in this space and is now focused on marketing P2P solutions at Tradeshift. About the Speakers Sandy Hicks Vishal Patel
- 3. 3 Session Overview • The Future of Purchasing and Payables • Innovation drivers of change • Lessons from a P2P Innovator • 4 Key Strategies 3
- 4. PayStream Advisors Research and Advisory Services for Financial Operations: -E-Invoicing -AP Automation -P2P Peer Benchmarking -Electronic Payments -T&E Expense Management -Receivables Document Management -eBilling -Treasury Management -PayStream P2P Summit PayStream Research www.paystreamadvisors.com
- 5. 5 Broad P2P Automation Market Trends • AP & Purchasing is getting out of the paper business – Continued drive for paperless processing is pushing more managed services • Users wants Straight-through processing – Moving to touchless processing to optimize transaction management • Innovators are aggressively reducing error rates – Exceptions are costly & painful to the business – Errors drive up purchasing prices
- 6. 6 What does this mean for P2P Managers? Fact: Staffing is the highest controllable cost for Purchasing & Payables Opportunity: Need to lower operating expense Benefit: Significant savings Satisfy changing needs of customers & suppliers
- 7. 7 Maturing Levels in P2P
- 8. 8 Maturity Stage 3 • Authoring is Shifted to Departments • > 70% electronic transactions • > 50% Touchless Processing • Low exception rates < 4% • Capture > 60% of Available Discounts PurchasetoPay
- 9. 9 Poll Question Do you have a vision which includes electronic collaboration with suppliers at your organization?
- 10. 10 Vishal Patel • What do see coming in next 6 years? Vishal Patel
- 11. Our P2P vision takes into account key factors shaping the Future of Business
- 13. There are twice as many smartphones as corporate PCs in the world today
- 15. 15 Most Adults will have an smartphone and for many millenials this will be their primary computer
- 16. Yet most business software still looks like this
- 18. But it gets worse.
- 19. In our personal lives we are all connected…
- 21. 300,000,000
- 22. …yet when it comes to connectivity, most business software feels like this:
- 24. 24 Sandy Can you tell us about the environment you inherited at Colorado and how it is different from today? Sandy Hicks
- 25. Procurement Service Center University of Colorado Sandy Hicks Assistant Vice President & Chief Procurement Officer
- 26. 26 The New World of Supplier Management
- 27. 27 University of Colorado • 58,000 students • $3.04B budget • $753M Spend • 5,375 Users • 105K Purchase Orders • 92% of Purchase Orders placed within 1 day • 272K Annual Invoices
- 28. 28 CU Marketplace Implemented P2P Solution in August 2011 PeopleSoft ERP P2P Automation Modules Spend Management Requisition Management Order Management AP Management Contract Management Supplier Management
- 29. 29 Current Supplier Registration 41,000 current suppliers Paper based CU W-9 form Reliant on departments to interact with suppliers No automated compliance checks Prone to data entry errors Excessive address information clogging database Time delays due to entry
- 30. 30 Why Automate? Improve accuracy of data Streamline process to onboard suppliers Automate compliance checks – OFAC & TIN Matching Automate diversity certification
- 31. 31 Vishal Patel • Vishal, What is Tradeshift doing to answer the growing process gap between consumer and business systems? Vishal Patel
- 35. Tradeshift’s Open Platform Approach TRADESHIFT PLATFORM Document Transmission, Statuses, Messages, Integration, Security, APISupplier Buyer Ability to expand functionality as needed
- 36. Tradeshift’s value proposition Supplier Buyer Communicate & collaborate directly with your buyers. Lower costs for your entire supply chain.Manage and track POs, invoices, and more. Connect via web, integration or any accounting software. Free. No supplier fees. Ever. Communicate and collaborate with suppliers. Innovate past invoicing on top of an open platform. One platform for all your business needs. Reduce cost and friction for your entire supply chain.
- 37. Key to Everything – Supplier Participation • Free to use • More than a “portal” • Value-added Apps • Enterprise-driven • Multiple on-ramps; CloudScan • Supplier-to-supplier Multi-way onboarding Easy to use Provide real value • Multiple integration options • Cloud-based; no on-site installation • User-friendly and mobile-optimized
- 38. 38 Sandy Hicks What are you implementing now to connect with your suppliers? Sandy Hicks
- 39. 39 Supplier Management Implementation Strategy CU is a development Partner on new supplier management solution Integration with PeopleSoft & other P2P modules (eProcurement & A/P Director Pilot Group go-live mid-June University go-live Fall 2014
- 40. 40 What are the Innovators doing?
- 41. 41 Vishal Patel Vishal, can you share a case study of what some of your most innovative clients are doing? Vishal Patel
- 42. “Tradeshift also gives us a brilliant platform for better collaboration, and will allow us to scale up and evolve with suppliers, as well as introduce innovative solutions.” The world’s largest publicly funded health services: £92 billion in NHS payments a year 7 million+ paper invoices = 14m pieces of paper pa 160K+ suppliers Simon Murphy Director of Finance & Accounting NHS Shared Business Services
- 43. “I need to know that once I’ve raised the invoice that it’s going to be paid promptly. What Tradeshift has done is to enable that hugely….I find it easy, very quick and I actually get paid. I find it seamless and effective.” Sharon Davidson Owner of Aresko Supplier to the NHS
- 44. 44 P2P Academy Research 1. Long term transformation plan 2. Cohesive coalition 3. Metrics to define success 4. A Leader to drive the vision Four Common Success Factors
- 45. 45 AP Innovators 1. Supporting the needs of the business A. Improve Back Office and Front Office Processes B. Using visibility to manage budgets, control spend & drive compliance 2. Metrics to define success 3. A Leader to drive the vision Four Common Success Factors
- 46. 46 Poll Question What types of automation are you working on today?
- 47. 47 Quick Tips to Stay Current In AP & P2P • Stay tuned for PayStream’s White Paper “Electronic Invoice Management” • Take advantage of complementary resources such as PayStream’s Cost Per Invoice Calculator • Utilize PayStream’s Business Case Builder to get your project moving • Get involved! PayStream’s 2014 INNOVATE Conference is September 8-10, 2014 in San Antonio, TX
- 48. 48 Henry Ijams (Managing Director) henry.ijams@paystreamadvisors.com (704) 951-7357 Questions 22
- 49. 49 PayStream INNOVATE 2014 The Purchase to Pay Summit September 8-10 San Antonio, Texas Hyatt Regency Riverwalk •Targeted focus on automation and process improvement •18 case study workshops facilitated by leaders at the most innovative organizations •Network with your peers in AP, Procurement, Finance and Supply Chain •More Information Contact: Brad Josephson Brad.Josephson@paystreamadvisors.com 704-926-3921
Notas del editor
- Henry Ijams, founder of PayStream Advisors, will share his Accounts Payable Maturity Framework and the critical steps that companies need to take to ready themselves for the future. Using a four-stage model as a benchmark, participants will take a guided tour of the many alternative AP paths to 2020. Attendees will participate in a live case study to determine which path is best for their unique organizations ... and which paths pose the most risk. The future of the AP automation market, new available technologies and the five best practices for successful future development will also be discussed.
- But before we do that… Did you know that PayStreans conducts a variety of research elements in P2P? Here’s a quick list of our studies completed in 2012. All studies are available to IFO members FREE – as a benefit of your membership! Just go to “resource center” and then ‘thought leadership’ after going to the IFO’s home page – or see direct link on the bottom of this slide.
- Two main factors: 1. Small and medium-sized companies are struggling with manual, paper-driven processes and are realizing that automation can alleviate most of the challenges they face in their day-to-day operations. 2.The availability of affordable, easy-to-implement and use technology solutions is driving a renewed interest in AP automation for these smaller organizations.
- Our mission is to connect all the companies in the world on one platform. We think the best way to reach that goal is to provide value to everyone participating in the business-to-business process. We believe that the future of business software is open, cloud based and connected. Tradeshift is not your father’s enterprise software. Its 100% cloudbased. Its purpose built, to be easy and useful – when and where you want to use it. The utility and useability also significantly enhance adoption – both internal to your enterprise but with suppliers as well.
- Integration options: File forwarding to ERP system Connectors for ERP and accounting packages API and custom integration (XML, EDIFACT, CSV) Web application & file uploader Email scanned invoices - via CloudScan