Thank you for your interest in improving Accounts Payable management and the IBM / Miria Systems solution.

Managed$Pay™ was designed to handle the needs of large manufacturing and energy companies. The following examples demonstrate the benefits and power of improved AP processing with ManagedPay™.

Case Study I

A major Fortune 500 industrial equipment manufacturing company was experiencing the following problems with their AP process:

Difficulty following up with and tracking large volumes of paper invoices Manual review and approval processes that was inefficient and took too long No common approach to capture and process P-card, EDI, Fax, and eCommerce payables Decentralized field business centers that made the overall process difficult to control

The existing solution did not facilitate proper access/review of invoices by people that could answer questions. Further, it lacked the proper controls and audit trails to ensure a correct and compliant payment process.

Managed$Pay™ has enabled optimal workflow automation and control of the AP process by:

• Allowing access to electronic copies of invoices from any location
• Automatically populating PO invoice data
• Enabling 2 and 3 way pre-match between the PO, Receipt, and Invoice
• Enabling single click approval within delegated authority limits
• Providing visibility to processing times and the ability to identify and deal with bottlenecks in the process
• Providing password security, control, and audit ability
• Reporting on accrued expenses for invoices in the approval process

Conclusion: Improved compliance along with cycle time to process an invoice reduced by 30%.

Case Study II

Another manufacturing company, this instance in the food industry, determined that their costs in labor and direct systems/support to process approximately 20,000 invoices/month exceeded $250,000/month. They also were experiencing these challenges with their AP process:

Aging, difficult to maintain interface with their ERP system Significant AP resource spent answering vendor inquiries and tracking down lost invoices Duplicate payments caused by multiple copies of the same invoices in the process chain Expensive paper storage, retrieval, and destruction processes Time consuming hard-copy document retrieval during year-end and compliance audits Challenges in managing spend against authority limits based on hard to read signatures and limits held in paper manuals & excel spreadsheets

By automating with Managed$Pay, they were able to reduce headcount, streamline processes, and gain efficiencies in how they manage all aspects of AP. This has resulted in a savings of nearly $100,000/month, and has provided them with additional visibility and control to take advantage of the right early payment discounts. They now have improved abilities to:

• Track every invoice online and provide flexible search capabilities
• Empower their executives to review and approve spend at their desks or on the road
• Provide complete access for auditsDrastically reduce duplicate payments by eliminating lost invoices and trapping potential duplicates
• Detect and trigger workflow actions when tasks become overdue, minimizing added expense
• Eliminate the costs of warehousing large volumes of paper

Conclusion: A savings of over 40% in on-going costs.

Key Managed$Pay™ Functionality:

Document Capture/Scanning - invoices are scanned and captured electronically, including image content, header properties, line item data or distributions, associated notes and attachments.

Workflow Automation - based on the data captured, different associated personnel are part of automated workflows for POs, non-POs, Credit Memos, or Check Requests. These include e-mail notifications, routing for further research, requests for additional information, notifications of duplications or errors, exception processing, QA, final approval, and Posting.

Validations – are built into the invoice processing sequence and easily configured to verify information on incoming invoices, warn users of a “soft” validation issue, route more serious violations to alternative workflow processes or users, and halt workflow for out-of-compliance conditions.

Outputs – invoices, associated documents, reviewer/approver/audit information, along with complete processing status and payment information are available in an operational data store for queries, reports, and integration with ERP and other applications.

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