Ensuring that your deployment of E-Business Suite is on the latest version is always a benefit in terms of keeping it supported by Oracle and staying current with all the latest patches and security protections deployed. However, when you’re undertaking the technical upgrade from 12.1.3 to 12.2.x are you seeing the solution enhancements that can deliver a return on your investment compared to the peace of mind that it is supported?
A common trend is that businesses are taking the opportunity to add further enhancements to their overall solutions and this includes invoice automation. Are you still keying your invoices manually on 12.1.3 or unhappy with an existing solution or business process? If you are then one such benefit could be to implement Invoice Automation.
Typically with any upgrade you can take the opportunity to update the hardware and infrastructure that an application sits on. With the options available on the market now and Oracle providing a competitive offering by hosting your E-Business Suite environment on Oracle Cloud Infrastructure (OCI), what we’re seeing is a four-pronged approach to a technical upgrade:
When it comes to producing your business case for senior management, an upgrade for support benefits and improved performance isn’t exactly going to excite them, it is in essence a technical upgrade. What can generate benefits and savings is the thought of driving efficiencies with invoice automation and business process improvement.
As well as maintaining premier support for your EBS application as part of your EBS upgrade have you reviewed the new features in the latest release?
Are you aware of the new features and know the benefits they provide?
As part of Oracle’s continued upgrade and innovative strategy with every new release, there are several enhancements to assist businesses meet the challenges of today.
Enhancements include a modern user interface and ‘Enterprise Command Centers’ (ECC) providing real-time data, functional updates to enhance business processes and regulatory requirements plus operational capabilities to reduce effort and costs.
Summary of Enhancements:
Are you currently keying your invoices? If you are then you can achieve significant benefits from invoice automation, whether this is from straight throughput or a reduction in the amount of manual effort or both, implementing a solution can drive efficiency and therefore a return on investment. There is also a staggering percentage of Oracle E-Business Suite customers that haven’t implemented or bought the Procurement module. This would provide added governance and control on spending as well as improved awareness of the outgoings pending or scheduled over the financial year for your business.
Consider even a minimal level of straight throughput compared to keying. Assume that on average an AP user can key 80 invoices a day into the ERP. A 25% straight throughput would reduce the number of invoices from 80 to 60 that need intervention. If the number of fields and values extracted are at 50% then the time taken to key those final invoices are reduced significantly. We commonly see users process two to three hundred invoices a day through Mi Invoices. This would be a 4-5 fold increase in productivity compared to manual keying.
The numbers for efficiency gains can add up quickly as evidenced by taking even a low success rate of identification. Commonly, the fields that take a while to manually key are line items, with an automated solution those lines can be read automatically and would require coding or matching. Coding an invoice can be done in a few clicks within Mi Invoices, especially if you save a favourite for the supplier that automatically applies the could code lines in seconds not minutes.
The question with all the benefits highlighted above is why wouldn’t a business implement Invoice Automation when undertaking a technical upgrade of their E-Business Suite to gain some ROI? Check out our customer success stories to see the benefits they have achieved.
Or to see how you could benefit book your own tailored Mi Invoices demonstration