Continuous Improvement

Let Insights & Analytics help your continuous improvement of your Accounts Payable process

Optimize your invoice process

Doing more with less – is key thinking behind continuously improving any process.

Optimize your AP Processes with all the dashboards listed below.

 

Automation

Achieving Touchless processing is the aim of every organization using VIM.

The Automation dashboard shows the number of touches applied manually to incoming invoices and the underlying reasons for these touches.

You have the ability to ‘slice and dice’ VIM data based on numerous filters such as company codes, vendors, invoice types, invoice channels and more.

This dashboard provides unique insights into the obstacles that prevent your organization from achieving a touchless invoice processing experience.

OCR Performance

OCR (Optical Character Recognition) Performance is important since it determines how well and accurately invoice data and information is recognized and extracted from your scanned or PDF documents.

OCR software scans and capture information from documents, such as invoices, and significantly reduces manual work. The OCR performance dashboard gives you information on how well your OCR software performs.

You can then improve and optimize the areas needing finetuning or training, which can easily be identified via the dashboard.

PO Productivity

The PO Productivity dashboard provides visual insights into the document cycle time of the invoices.

It also shows time spent in the DP processing, and the Approval and Block resolution processing.

The ability to visually see the time spent per role and actions gives powerful insights into meaningfully resolving obstacles encountered in your Invoice management process.

NPO Productivity

The Non-PO Productivity dashboard provides visual insights into the document cycle time of the invoices.

It also shows time spent in the DP processing, and the Approval and Block resolution processing.

The ability to visually see the time spent per role and actions gives powerful insights into meaningfully resolving obstacles encountered in your Invoice management process.

Date Analysis

The Date Analysis dashboard is mostly used for the analysis of past due payment and as such empowers users to dig deeper, taking the ‘Payment Analysis’ dashboard as a starting point.

It enables users to find out whether the problem is on the vendor side or the customer side.

Waste Analysis

Somehow documents that are not invoices can end up in your invoice management process.

It can be either duplicates of an invoice, invoices that have been mistakenly posted or other documents. They all have a negative impact on your AP process.

This dashboard visualizes your problem areas and makes it easy to fix these by applying targeted actions to progressively achieve maximum positive impact for your AP process.

Exception Analysis

The most important objective is to achieve a ‘Touchless’ or ‘straight-through’ process where invoices require zero manual intervention. This is known as the ‘happy flow.’

A prerequisite to achieving this goal is to ensure that there are no exceptions left in your VIM workflow. However, Most VIM workflow system are flawed by a more or lesser degree of exceptions.

The Exception Analysis Dashboard shows the number of manual touches invoices go through before being effectively posted.

The ‘Exception Analysis’ dashboard offers insights into what causes these exceptions, which ones occur most frequently, and where these exceptions happen the most – think of company codes and/or vendors.