Yaso Sivananthan August - PowerPoint Presentation

Slide1

Yaso SivananthanAugust 15th 2018

Finance Robotics, a Customer Perspective by RIOCAN

Your presenters

ContentForza Consulting

Introduction

AI Powered Solutions for

EnterpriseOne

SCANMAN in JD Edwards E1

RIOCAN

Introduction

AP Requirements

Value drivers for Finance Robotics

Value drivers for Vendor Portal

RIOCAN

Forza Consulting55Consultants

+250

Customers

2

Office locations

1

Concept

5

INFOCUS

Sessions

20

Countries

Finance RoboticsProcess Automation

True AI Powered Solutions

Transitioning from data entry to data validationOCR

Intelligent data extraction for invoices

Digital docs / paper-based / scanned images / e-invoices

AI

Predictive Algorithms

Natural language recognition

SCANMAN Native to JD Edwards E1 Technology & FunctionalityReal Time Invoice ProcessingInvoice data + Picture directly available in E1

Direct access to masterdata

Cross references

Voucher Match Automation

Approval Workflow

Approval Workflow

Monetary approval limits

Auto & Manual workflows

Cost invoices

PO Based Invoices

Prior to and after matching

Mobile Connectivity

RIOCAN customer perspective

AP Automation Value Drivers

Enhance AP Efficiency

OCR Technology

(Auto)Approval Workflow

Invoice (auto) Matching

Reduce the cost of AP transactions Cost

Reduction in Process time

Eliminate the 3

rd

party Images storages cost

Reduce the Check stock paper cost

Reduce the postage cost

Riocan Paper Base AP Process (Before Centralization)

Vendors

Site Admin 60 Users

AP Users

10 Users

Treasury

Payment Approvers

Mailed paper invoices

Highlights of this process

Invoices are received and processed in multiple locations (Regional

offices &

property

sites)

Manual data entry of invoice information and manual matching

.

Invoices are received in paper

format No visibility on the process.

Manual invoice approvals required

.

Invoice images are captured by third party vendor, after payment processing

.

Vast majority of payments made by

check.

Processed Around 5000-6000 Invoice per Month

Riocan

Current

AP Process (Centralized)

Processed Around 5000-6000 Invoice per Month

Electronic Capture

Scan paper

Tool

PDF Format

PO Based Invoices

Non-PO Based Invoices

AP Review –Image/Data Capture

Voucher Match

AP Review –Image/Data Capture

Yes

No

Notification to the site Admin on Following;

1. Missing PO receipts

2. Amount Mismatch

Voucher Creation

GL Coding - Site

Invoice Approver

Treasury

Tool

Electronic Payment File

Payment Approvers

Vendor Bank

Key Sucess

Success Factors

Impact

Business Department’s adherence to procurement process:

Issue POs on time

Accurate receipt on goods and services in

JDE

Automated matching reduces the manual effort required,

and enables straight through processing.

Centralized scan & process

Eliminates the labor-intensive photocopying and

“great paper chase”.

Visibility of “real-time” invoice process status and digitized invoice image.

Vendor communication and education - vendor adoption to change in process

Correct invoicing enables prompt & accurate payment

and

better supplier relationships.

Reduce Storage cost

Images are saved in JDE (File server) as Media object

Vendor PortalWorking on it

Vendor Portal Value DriversTo design and develop a self-serve portal that allows RioCan's vendors to submit and manage their invoices to RioCan digitally

.

Automated invoice validation

Allow electronic submission of work completion and other documents at the time of invoice submission

Enhanced visibility to our vendors on the status of their payments

Automating invoice

approvals

GOAL: Gaining efficiency and allowing vendors to enter data points and interface directely to the ERP system. (Using AIS capabilities)

Please complete a session evaluation

Session ID:

#JDE-102670

Contact Info:

info@forzaconsulting.eu