Post on 20-May-2018
5/15/2017
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1©2016 PROPRIETARY AND CONFIDENTIAL
AP AUTOMATION 101: WHAT YOU NEED TO KNOW BEFORE YOU BUY
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MEET YOUR SPEAKER
Santiago de la Lama
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Channel Sales Manager | AvidXchange
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AGENDA
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1What is AP Automation?
2Why Automate Your
Payables?
5Q&A
4Overview of AvidXchange
3Hear From A Customer
Let’s illustrateWHAT IS AP AUTOMATION?
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WHY AUTOMATE YOUR PAYABLES?
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TOP 3 REASONS YOU SHOULD AUTOMATE
You’ll save an enormous amount of time
You can reduce your processing costs by 60% or more (and triple your work capacity)
You can reduce your processing costs by 60% or more (and triple your work capacity)
You’ll be less susceptible to check fraud You’ll be less susceptible to check fraud
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HOW MUCH TIME DOES AN AP STAFF MEMBER SPEND ON MANUAL TASKS EACH DAY?
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*Source: Statistics from PayStream Advisors, Aberdeen Research
4HOURS*
SIMPLE AND STRAIGHT‐FORWARD PRICING
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MANUALINVOICE
$9.00
AUTOMATEDINVOICE
$1.50
MANUALPAYMENT
$7.15
AUTOMATEDPAYMENT
$.68Source: Industry Statistics from PayStream Advisors, Aberdeen Research
Transaction‐based pricing makes our solution affordable for customers of any size
AvidXchange PricingAverage Costs
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CHECK FRAUD AND HOW IT HAPPENS
48%of payment fraud canbe tracked back topaper checks
WHY? Data is not secure in a paper‐based
environment.
Manual processes rely on post‐payment review to detect deviations from business rules. By the time you’ve identified an issue or discovered an error, the fraud has already occurred.
HOW AUTOMATION PREVENTS FRAUD
Every check payment has positive pay
and approval workflows making sure no fraud
can occur
Every invoice is scrutinized for
legitimacy before entered into your accounting system
Automation enforces strict adherence to
business rules, reducing opportunities to commit B2B fraud
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WHAT IS DRIVING COMPANIES TO AUTOMATE?
Cost of paper checks is higher than automated ePayments
New era of employees that refuse to push paper
Desire of mobile access to approve invoices and payments
Inability to forecast cash flow accurately
HEAR FROM A CUSTOMER
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CUSTOMER TESTIMONIAL VIDEO
OVERVIEW OF AVIDXCHANGE
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AP & PAYMENT AUTOMATION
17 Years
6,000 Happy Customers
300,000+ Suppliers in Network
98% Customer Retention
900+ Employees
Offices: North Carolina, Utah, New Jersey, and Texas
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CLOUD BASED SOLUTION24/7 Access from Anywhere, Anytime
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DEMONSTRATIONof
AP Automation
5 WAYS INVOICES GET INTO AVIDXCHANGE
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LET’S LOOK AT AVIDXCHANGE INVOICE
APPLICATION
INVOICES NEEDING YOUR APPROVAL
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You continue to select payments in your accounting system like you do today.
You never have to print, sign, stuff, or mail supplier checks again.
100% fraud protection – you never have to produce a “Positive Pay” file for your bank again.
You don’t have to manage any supplier bank account info for electronic payments.
Maintain all your existing bank relationships and bank accounts with real time access to payment status of every payment.
24/7 visibility into the status of payments to better manage your cash flow.
AVIDXCHANGE PAYMENT APPLICATION OVERVIEW
LET’S LOOK AT AVIDXCHANGE PAYMENT
APPLICATION
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VIEWING PAYMENT BATCHES
VIEW PAYMENT STATUS
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VIEW CHECK IMAGE – FRONT
VIEW CHECK IMAGE – BACK
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RICH REMITTANCE INFO FOR SUPPLIERS
Ability to receive 100% of your invoices electronically
Facilitates 100% data capture with 99% accuracy guaranteed
Enhanced workflows and approvals
Passes AP data into your accounting system with no manual data entry on your end
Facilitation of 100% of your payments – regardlessof the vendor, or their preferred method of payment
SUMMARY OF AVIDXCHANGE AP AUTOMATION
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ASK THE EXPERTASK THE EXPERT
STOP BY OUR TABLE TO LEARN MORE!
QUESTIONS?Email: sales@avidxchange.com Visit our website: www.avidxchange.com