What We Have Achieved Continued - Cortex Business Solutions Inc ...


What We Have Achieved Continued - Cortex Business Solutions Inc ...

A U S T R A L I A A R G E N T I N A C A N A D A E G Y P T N O R T H S E A U . S . C E N T R A L U . S . G U L FE – Invoicing Value to ApacheMay 25, 2011

How We Started Out Failed implementation Manual invoice tracking Back end scanning Competing IT projects2

How We Started Out ContinuedCANADA LTD.215,000 invoices were processed in the Canada Region in 2008• Avg. size of invoice is 5.5 pages• When stacked one on top of the other, the mass of paper being pushed aroundeach year is 120 meters!Canada Invoices2008120 m2008 Apache Corp / Apache Canada Presentation Standards .ppt 5/24/2011 3

Approach & Executive Summary Executive sponsorship Conducted interviews Gathered and updated business and technical requirements Request for Information (RFI) sent to selected vendors alongwith demonstrations. Request for proposal sent to selected vendors.4

What We Were Looking For In A Solution Automate the receipt and approval of invoices Reduce overall number of people involved and time spendhandling invoices Negotiate and capture discounts from suppliers Improve reporting and metrics Interface into SAP Proven technology More transparency Performance Standardization Worldwide solution with product expandability5

SupplierFuture State – High Level ProcessApacheSendReceiveRouteValidate /Verify / CodeAHUBFinancialApprovalPayStore /RetrieveOption A:Supplier PortalFileNetOption B:Business toBusiness (B2B)IntegrationInvoice receivedin Baswaresystem withrequiredinformationInvoice routed toappropriateperson or groupbased on Apachespecific rules ormanuallyInvoice verifiedand coded (asrequired)Ability to havemore than 1reviewerInvoice approvedaccording toAHUB levelapprovalauthority treeInvoice posted toSAP andscheduled forpaymentaccording topayment termsInvoice imagestransferred toFileNet andaccessiblethrough ScoutOption C: Mail inInvoiceScanFix InvoiceRejectReject Reject Reject6

Golden RuleAll Electronic Invoices will be coded by thevendor.If not, they will be rejected.7

# of VendorsWhat We Have AchievedVendors On-boarded to Cortex120010001,0111,1071,1441,1618008039116005774002002570October November December January February March April Current8

# of InvoicesWhat We Have Achieved ContinuedTotal # of Invoices Transferred Basware vs SAP2500024,426225002000019,51320,68218,80518,68717500150001250012,325100008,8187500500025000October November December January February March AprilBasware 1899 7800 18376 19838 18050 23746 18123SAP 10426 1018 1137 844 755 680 5649

# of InvoicesWhat We Have Achieved Continued16,000Invoices Transferred to SAP Oct 2010 - April 201114,00064%56%12,00061%59%44%65%10,0008,00039% 36%41%35%6,00058%4,00042%2,00042%58%-October November December January February March April10

% of Paid InvoicesWhat We Have Achieved Continued70Invoice Payment Cycle2010 vs Current6056%60%5040Current>30 days>60 days3024%>90 days2017%1010%10%11%12%0Jan - Dec 2010 Apr 201111

What We Have Achieved Continued Improved Control Improved reporting and metrics Material asset acquisition Vendor integration12

What We Learned Skillset changed Consistent messaging between head office and field Recognize there may be issues with internal processes Clean up old invoices prior to going live Understand implementation options Partnership relationship13

Where To From Here Continue to increase electronic submissions Internal approval cycle Kofax functionality Free flow from procure to pay Cut and paste functionality Mobil approval assessment Expense account automation14

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