Transform your finance and procurement operations, simply.
For Finance and Procurement leaders who want to get visibility and control of their spend, drive measurable business value and achieve efficiency through source to pay automation without disrupting their business operations.
HammondCare Source to Pay Solution – Case Study
Australian national health and aged care provider, HammondCare, which cares for more than 28,000 people across 60 locations, supported by about 4,500 staff and up to 1000 volunteers, undertook a review of their critical business operations, including procurement and payments, to enable better cost control, drive efficiencies, and increase its management team’s visibility over the organisation’s spending.
The Sydney-headquartered independent Christian charity identified its existing procurement and invoicing systems as being no longer fit-for-purpose, and in need of modernisation, and decided to migrate those systems to the cloud to better serve its customers, partners, and growing team of in-home care providers and cut down on manual processing.
The challenge of replacing older, on premise systems with modern, fit for purpose cloud-based solutions with minimal disruption to the business was considerable. Familiar processes needed to be retained, and relationships with critical suppliers needed to be protected. However, over the course of nine months HammondCare has achieved its aim of implementing an efficient cloud-based system and best practice processes.
HammondCare selected Coupa’s Business Spend Management and Valtatech’s proprietary e-invoicing cloud-based solutions to replace their existing, on premise systems.
Moved to the cloud in 6 months
Enabled e-invoicing across the organisation
Automation and streamlining of the RFQ process
Minimal business disruption during transition
Valtatech has helped HammondCare to successfully make the move to the cloud within 6 months, while enabling the charity to utilise new and improved functionality within their source to pay processes including:
- Additional procurement functionality automating and streamlining the RFQ process
- Requisition workflows which are configured for delegation of authority
- Providing workflows for spend exception/approval management
Valtatech has also implemented its own e-invoicing solution, which has enabled HammondCare, in addition to its customers and partners, to adopt paperless e-invoicing, rather than submitting handwritten or scanned PDF invoices. Enabling greater invoice automation options to onboard their supplier base, lowering the manual work required to build to process invoices through e-Invoicing / PDF invoicing.
The new system will also reduce the possibility of fraud and allow more customers, partners, and suppliers to transact with HammondCare safely and securely. The changes have already had a major impact on the care provider. Helping its procurement operation to drive down costs and increase cost savings by enabling purchasing teams to rationalise suppliers, negotiate better deals, and reduce negotiable spend.
Read more about our work with HammondCare in these publications
Konica Minolta Business Solutions Asia Source to Pay Solution – Case Study
Konica Minolta Business Solutions Asia, the Asia Regional Headquarters of the Japanese multi-national technology firm, which specialises in transforming the workplace of the future with its customer-centric solutions and hardware for the digitally connected world, undertook a review of their business operations across the Asia Pacific region to drive efficiencies and automation.
Konica Minolta Business Solutions Asia was particularly focused on digitising its procure-to-pay (P2P) process. Which would enable better cost control, drive efficiencies, and increase the visibility of the business unit’s spending from a compliance point of view. The business identified their manual ordering and invoice processing as key drivers for cost savings and efficiency gains. After selecting Coupa’s Business Spend Management technology as their chosen platform, Konica Minolta Business Solutions Asia needed an experienced implementation partner, who could help them customise Coupa to fit their specific needs – Valtatech delivered and undertook a comprehensive redesign of Konica Minolta Business Solutions Asia’s systems, implementing:
• A unique fixed asset purchase process
• Complex approval chain requirements based on amount and type of spend
• Complex accounting segment relationships
• Different purchase order to invoice matching requirements based on type of spend
Utilising their source to pay transformation expertise and extensive knowledge of Coupa, Valtatech was able to rollout the source to pay solution based on Konica Minolta Business Solutions Asia’s requirements. Powered by a remote team of P2P experts, which kept costs down and enabled Konica Minolta to complete the project without adding to their own team, Valtatech provided guidance and best practice on the implementation, ensuring strong user adoption across the business.
90% of all POs processed digitally
Over 97% purchase order compliance
95% invoices processed automatically
99% of all expenses are digital and in line with company policies
Invoice submission to approval now less than 2 days
Together with Valtatech, Konica Minolta Business Solutions Asia, has now implemented a full procure-to-pay system including financial governance/approval steps, alongside:
- A systemised supplier relationship management framework to better track and measure supplier performance
- Harnessing data to enhance our ability to build insights to better inform budgeting, financial performance, procurement activities and decisions.
- While providing improved insight and controls across sourcing, contract management, purchasing, accounts payable automation, analytics and supplier relationship management, supplier catalogue enablement and electronic invoicing (e-invoicing)
The results have been clear, with Konica Minolta Business Solutions Asia achieving a complete transformation of their procure-to-pay (P2P) processes.
Read more about our work with Konica Minolta in these publications
The Benefit of Procure to Pay Solutions
Procure to pay refers to the process of a business requiring a good/service, raising a purchase order for that good/service, having the goods/service delivered, the invoice being received and then matched to the purchase order to be processed for payment.
This process can be largely automated through the use of technology to automate the approval of a purchase order, transmission of that purchase order to a supplier, receipt and data capture of the invoice, matching of that invoice to the purchase order and processing through to payment.
The procure to pay process has largely been driven from a financial compliance lens to ensure that spend is pre-approved, that the business is paying for goods/services that they have actually received and that the right business is paid the right amount in the right time-frame. The proliferation of procure to pay and accounts payable automation platforms has seen this process be digitised by many enterprise businesses and reap the automation and optimisation benefits.
What Value should Procure to Pay solutions deliver?
Procure to pay solutions are focussed on ensuring that the process to order goods/services is as straightforward as possible and that the relevant ordering information is linked to the corresponding invoice automating both the coding and approval of the invoice. Procure to pay solutions should be delivering value in the following ways, for example:
- Greater cost control: Reduces maverick and non essential business spend through the requirement of purchase orders helping to ensure spend is managed prior to any commitments being made to suppliers.
- Increased compliance and risk mitigation: Invoices are matched to approved purchase orders ensuring that spend is pre-approved with a full digital audit trail.
- Visibility over spend: utilising purchase orders should enable you to be able to run highly detailed, on-demand spend analysis reports to identify where you are spending your money and highlight any areas for cost improvements or supplier consolidation.
- Lower your cost of processing an invoice: procure to pay automation can help free up staff from manual data entry tasks and, through purchase order matching, streamline the invoice coding and approval process as well. These efficiencies combined can lower your costs to process each invoice saving you money.
- Greater visibility over upcoming liabilities: through digitised pre-approval of spend you can run on-demand reports to understand the impact on your cash flow to aid with financial decision-making and forecasting.
- Drive your procurement policies: through a seamless user experience and rules embedded into the purchasing experience you can ensure adherence to your procurement policies and push compliance with preferred vendors.
Who this is for
We are source to pay automation experts and focus only the source to pay ecosystem, so we understand the opportunity that automated and optimised processes can deliver for businesses. Whilst Finance and Procurement leaders are very busy, we know that there a couple of things that are really important to them:
Managing Risk and Compliance
Supply chain risks, cash flow, invoice fraud and regulatory compliance
Visibility and control of their spend
Ensuring company money is spent where it should be and that you are getting the best value
Most Finance and Procurement Leaders are hamstrung by their existing systems and processes, working off inaccurate, old and clunky data to make decisions in an environment that changes quickly and demands quick decisions.
Our Key Concept
Here’s our truth:
We believe that everything a business does should be simple and drive measurable value. To drive simplicity and value, we focus on uniting the right technology, the right supporting services and the right process together around source to pay value drivers.
Our Unique Useful Insights
- Purpose built Source to Pay automation platforms make capturing and analysing spend data easier, quicker and cheaper than in your ERP
- Utilising source to pay solutions to drive finance and procurement policies leads to greater control of your spend and cost savings
- Utilising finance and procurement transformation specialists to design and deliver a transformation specific for your business leads to measurable value with minimal business disruption
Tried and Tested Implementation Methodology
At Valtatech we take great pride in the opportunity to support organisations in improving their operational efficiency across their source to pay processes. Supported by our experience, we have a well-defined process of delivering our projects, ensuring a shared vision of success and that processes and procedures are put into place to ensure that success is achieved.
At the heart of everything we do is a razor-sharp focus on delivering business value, Value is ultimately a common vision of what success looks like. It’s visibility. It’s savings. It’s user adoption. It’s compliance. It’s best practice. It’s all of that combined. It’s what we define, together, as our shared objective. Value is what we measure and what we strive for.
Our tried and tested implementation methodology helps to reduce the implementation risks of the project and drive adherence to project quality, timeline and budget. Our project management approach utilises a PRINCE2 Project Management methodologies which have been tailored for our project types and then applied through our implementation approach, which typically covers the following phases:
Analysis and Design
The analysis and design phase is the critical to the project success and is key to the onboarding process to ensure the project is successful, during this phase we undertake:
- Project Initiation
- Project Initiation meeting – this is the formal kick off of the project, bringing together key project stakeholders to review the project scope, discuss timelines, identify and agree roles and responsibilities dependencies and key risks and mitigations strategies. Shortly after this session a detailed project plan is delivered for initial review and sign off
- Customer Success Metrics – part of the project initiation meeting is dedicated to discussing and agreeing key high level goals of the project and breaking them down into operational metrics that can be measured post go-live. This is critical to inform the solution design workshop/s to ensure that the project will deliver on its expected longer-term goals.
- Solution Design Workshop/s – these workshops bring together key project subject matter experts to do a deep dive into the solution, mapping out existing processes and then designing to-be processes. This process typically identifies any current exception type activities that need to be catered or accounted for.
- Documentation Creation and Sign off – Utilising what was discovered during the Solution Design Workshops the proposed solution is documented in detail for review and approval. This document forms the basis for the build requirements.
Build and Test
The build and test phase of the project is where Valtatech carries most of the workload as we take the approved build requirements and configure our platforms for ready for testing
- Solution configuration build and internal testing
- Development of train-the-trainer materials
- Train-the-trainer training for master trainers
- Development and approval of testing scripts
- User Acceptance Testing
- Full user acceptance testing
- Configuration changes
- User acceptance testing sign-off
- Go Live Preparation
- Go live checklist completed
- Configurations moved to production systems
- Transition plan agreed and enacted
- Internal and External go live communications
Deploy and Operate
The final phase of our implementation focuses on ensuring a smooth transition to business as usual and then sets up processes to ensure that we have measures in place to monitor ongoing performance of the service and identify areas of improvement
- Hypercare – depending on the project size and scope we typically recommend a hypercare period of 2 weeks to ensure that the solution is supported effectively post go live
- Continuous Improvement – led by your Customer Value Manager, a number of key success metrics for the solution post-project will be set, agreed and monitored to drive areas of improvement.
Our implementation process is supported by best-in-breed project and resource management technology in Clarizen providing both us and client with live schedule, risk and issue management.
Source to Pay Automation – Our expertise in Source to pay automation enables us to ensure that your processes and technology are working together as efficiently as possible, allowing you to focus on exception value-driving activities instead of transactional ones.
Business value engineering – We know that to add real value you have to look beyond just technology and processes, we are committed to ensuring that your source to pay transformation drives real value across your business by embedding value measures across our solutions.
Integration – What legacy systems you use shouldn’t hold you back from being able to transform your source to pay function. We can integrate with any legacy platform and simplify the data exchanges to ensure that they are secure, reliable and automated.
Valtatech Invoicing and Compliance Engine – Unfortunately, there are bad people out in the world looking to take advantage of your payment processes utilising fake trading names and registration data, incorrect bank details and forging invoices. We remove the risk of this with our compliance engine which can assess the data on your invoices against a set of rules to ensure 100% compliance and zero erroneous payments.
Supplier onboarding – Have your supplier onboarding done by the industry leaders. We have expertise on a large scale supplier onboarding programs for electronic invoicing, procurement, and supply chain finance to maximise adoption of your new processes with your suppliers.
Change Management – We embed best practice throughout our process re-design work with you and provide vital insights into how to manage change within your organisation effectively and ensure a robust source to pay solution.
How do I get started?
We’re really passionate about making sure that you are driving measurable value from your operations through source to pay automation and solutions – we’d love to have a chat. Book in a consultation today!