HYLAND AND WORKDAY
When businesses grow and expand , invoice volume increases , as do all the associated challenges of managing that volume . There are expensive options like adding staff and complicated logistical problems like adding systems , which can increase the layers of complexity .
“ When you get down to the processlevel challenges that we see , our customers really do struggle in AP with manual data entry ,” Simer said . “ You would think it was something so simple and easy to solve , but it really is a problem . If you have an invoice with multiple lines , multiple line items that need codes and to be matched against the purchase orders and entered into the ERP , that ’ s a significant amount of work just for one sheet of paper . That ’ s assuming that the invoice is one sheet . It ’ s a small thing , but it really , really adds up .”
Manually entering this kind of information can lead to errors finding their way into the ERP , and when those errors are identified , it adds extra layers of steps and corrections to get invoices paid . Simer adds that if you process tens to hundreds of thousands of invoices a month , these types of manual issues can add up , which emphasises the importance of having accounts payable automation systems to improve efficiency and accuracy .
With so many disparate systems in use , especially in retail and hospitality sectors , it ’ s essential that any solution like the options presented by Hyland and Workday is flexible and adaptable .
Dittmar believes that ’ s an area where Hyland ’ s product platform really excels . “ It ’ s extremely complex but can be managed through a set of logical rules ,” he said . “ That allows enough flexibility from customer to customer or even retail system to retail system . Workday at one end is very fixed , but at the other end , there are multiple retail systems and , in some cases , even the same customer may have more than one retail system that they ’ re using to generate different types of purchases .”
He said it ’ s essentially taking the way that the retail buyer wants to work , and the way the finance operation needs to record the transaction , and building a translation layer in between the different systems .
“ Connecting those systems and reducing that friction from a data standpoint , from a technology standpoint , from a business process standpoint , from a stakeholder ’ s visibility and insight to action on all of these pieces as well ,” Schell added .
The future of the partnership The two companies expect their collaboration to produce continuous improvement and innovation .
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