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A Single Platform Approach: Automating Receivables, Payables, & - - PowerPoint PPT Presentation
A Single Platform Approach: Automating Receivables, Payables, & - - PowerPoint PPT Presentation
A Single Platform Approach: Automating Receivables, Payables, & P Card Reconciliation Andy Schwartz Jeff Bissonette MTS Software Solutions StoneMor Partners, L.P. Introduction MTS Software Solutions MTS provides software, hardware
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StoneMor is a full‐service cemetery and funeral home corporation that began with a vision: “to memorialize every life with dignity.” StoneMor has 277 cemeteries and 90 funeral homes in 28 states and Puerto Rico.
Jeff Bissonette Vice President Information Technology
Introduction – StoneMor
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Presentation Agenda
- Project Implementation Overview
– Project Goals – Pre‐Implementation Processes – Project Scope – Post‐Implementation Processes
- “A Single‐Platform Approach”
– Benefits – Key Metrics
- Challenges Encountered/Lessons Learned
- Discussion
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Project Goals
- Significantly reduce the number of banking
relationships and related fees.
- Automate invoice approval process.
- Capture of p‐card documentation closer to real‐
time.
- Create daily Electronic Cash Letters for deposits
to Bank of America.
- Single Solution to capture, route and process
payments, invoices and P‐Card transactional documents
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Deposits – Pre‐Implementation
- Hundreds of bank accounts
- Various banking fees
- Time saver – fewer trips to the bank
- Eliminate local branch sweeps
- Improve cash availability
Opportunities
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Invoices – Pre‐Implementation
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Invoices – Pre‐Implementation
- Length of time for invoice processing
- Manual paper process
- Documents are routed to appropriate
departments through an electronic workflow
- Tracking and status of invoice & payment
- Reduced fax usage, phone calls, and email
inquiries
- Minimize need for weekly package to home office
- GL Coding at time of Invoice Capture
Opportunities
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P‐Cards – Pre‐Implementation
- Delay/Difficulty supplying
supporting documentation to home office
- Eliminate duplicate supporting
document requests (Accounting)
- SmartData system cumbersome
and slow
Opportunities
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Project Scope
- Deployment of Canon DR‐C125 Scanners
– 3 Major Components:
- Scanning of checks for electronic deposit.
- Scanning of invoices.
- P‐card documentation scanning.
- IntellaFlo by MTS Software Solutions used for
workflow.
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New Process – Deposits
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New Process – Invoices
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New Process – P‐Cards
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A Single‐Platform Approach
- Addition of P‐Card Module
– Advantage of Single Platform allowed mid‐project decision to add P‐Card
- IT Efficiencies
– Platform is Scalable – One Vendor to Support Multiple Applications
- Central Location for Visibility
– One place to go for info
- Ability to Expand
– Additional capability of the software
- Expense Reports
- Other departments
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Key Metrics
- Costs per Deposit Item
- Bank Account Relationships/Fees
- Employee Time
– Deposit Trips/Mileage Fees – Accounts Payable Data Entry – Accounting Review
- Costs
– Premium Mailing Costs – Fax/Printer Supplies
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Challenges Anticipated/Encountered
- Bandwidth and Connectivity at Locations
- Scanner Maintenance
– 24‐hour Maintenance
- Performance/Response Time
- Training
- Significant Cultural Change
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Lessons Learned
- Process by Default vs. Process by Design
– Automating highly manual processes allows the
- rganization to re‐evaluate the processes and
inefficiencies that have accumulated over the years. – Forces departments to re‐evaluate and design better processes.
- Software is not the “Silver Bullet”
– The real problem‐solving occurs in answering the tough questions about your current processes. – Choose a vendor that knows the right questions to ask.
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