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Henry IjamsManaging DirectorPayStream Advisors, Inc.
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P2P in 2020 Webinar Series: Session 1The Push for Supplier Self-Service
Sandy HicksAssistant Vice President & Chief Procurement OfficerUniversity of Colorado
July 10, 2014
Vishal PatelSr. ManagerTradeShift
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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 HicksAVP & Chief Procurement Officer, Univ. of ColoradoMs. 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 PatelSr. Manager, TradeShiftAs 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
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Session Overview
• The Future of Purchasing and Payables• Innovation drivers of change• Lessons from a P2P Innovator• 4 Key Strategies
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PayStream AdvisorsResearch 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
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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
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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 savingsSatisfy changing needs of customers
& suppliers
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Maturing Levels in P2P
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Maturity Stage 3
• Authoring is Shifted to Departments• > 70% electronic transactions• > 50% Touchless Processing• Low exception rates < 4%• Capture > 60% of Available Discounts
Pu
rchase to P
ay
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Poll Question
Do you have a vision which includes electronic collaboration with suppliers at your organization?
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Vishal Patel
• What do see coming in next 6 years?
Vishal Patel
Our P2P vision takes into account key factors
shaping the Future of Business
There are twice as many smartphones as
corporate PCs in the world today
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Most Adults will have an smartphone and for many millenials
this will be their primary computer
Yet most business software still looks like
this
But it gets worse.
In our personal lives we are all connected…
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1.3+ billion now
300,000,000
…yet when it comes to connectivity, most
business software feels like this:
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Sandy
Can you tell us about the environment you inherited at Colorado and how it is different from today?
Sandy Hicks
Procurement Service Center
University of Colorado
Sandy HicksAssistant Vice President & Chief Procurement Officer
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The New World of Supplier Management
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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
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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
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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
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Why Automate? Improve accuracy of data Streamline process to onboard
suppliers Automate compliance checks –
OFAC & TIN Matching Automate diversity certification
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Vishal Patel
• Vishal, What is Tradeshift doing to answer the growing process gap between consumer and business systems?
Vishal Patel
Tradeshift’s Open Platform Approach
TRADESHIFT PLATFORMDocument Transmission, Statuses, Messages, Integration, Security, APISupplier
Buyer
Ability to expand functionality as needed
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.
Key to Everything – Supplier Participation
• Free to use
• More than a “portal”
• Value-added Apps
• Enterprise-driven
• Multiple on-ramps; CloudScan
• Supplier-to-supplierMulti-way onboarding
Easy to use
Provide real value
• Multiple integration options
• Cloud-based; no on-site installation
• User-friendly and mobile-optimized
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Sandy Hicks
What are you implementing now to connect with your suppliers?
Sandy Hicks
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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
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What are the Innovators doing?
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Vishal Patel
Vishal, can you share a case study of what some of your most innovative clients are doing?
Vishal Patel
“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 MurphyDirector of Finance & AccountingNHS Shared Business Services
“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 AreskoSupplier to the NHS
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P2P Academy Research
1. Long term transformation plan2. Cohesive coalition3. Metrics to define success4. A Leader to drive the vision
Four Common Success Factors
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AP Innovators
1. Supporting the needs of the businessA. Improve Back Office and Front Office Processes B. Using visibility to manage budgets, control spend &
drive compliance
2. Metrics to define success3. A Leader to drive the vision
Four Common Success Factors
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Poll Question
What types of automation are you working on today?
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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
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PayStream INNOVATE 2014The Purchase to Pay SummitSeptember 8-10San Antonio, TexasHyatt 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 [email protected]
