AEG Worldwide

SUCCESS STORY

To solve the challenges of manually processing hundreds of thousands of invoices each year while furthering its sustainability initiative, AEG chose process and content management technology from Lexmark to complement its Oracle JD Edwards EnterpriseOne system in accounts payable (AP).

Discover the: Challenge | Solution | Results

AEG Worldwide

company

AEG is one of the leading sports and entertainment presenters in the world. AEG, a wholly owned subsidiary of the Anschutz Company, owns or controls a collection of companies including facilities such as STAPLES Center (Los Angeles, CA), O2 Arena (London, England), Sprint Center (Kansas City, MO), Citizens Business Bank Arena (Ontario, CA), Mercedes-Benz Arena (Berlin, Germany) and many more.

Industries

Accounting Finance

Products

Workflow & Process Management, Data Capture & Extraction, Document Management, Search & Analytics

Countries

Worldwide

Headquarters

Los Angeles, CA

Focus

Events management

Challenge

We were concerned about executive buy-in, but once we showed them how easy Perceptive Content makes it to view and approve invoices, they were on board right away. That made it an easier sell to our other users.
Brandon Weiss Vice President, Financial Systems & Process Improvement, AEG Worldwide

AEG processes hundreds of thousands of invoices each year across the U.S. In 2009, company executives realized that internal processes could be improved and they wanted to make accounts payable more efficient. The reason? Too much time and effort involved with manually processing paper. The company also paid for off-site storage, and retrieving records for audits was a hassle.

To solve these challenges and further its sustainability initiative, AEG chose process and content management technology from Lexmark to complement its Oracle JD Edwards EnterpriseOne system. Brandon Weiss, Vice President Financial Systems & Process Improvement at AEG, explained the selection. “Lexmark’s products, including Perceptive Content, offered strong out-of-the-box features, but also enabled us to customize workflows to meet our needs,” he says.

Solution

Perceptive Content has enabled us to eliminate late fees and take advantage of early payment discounts, which has led to a rapid return on investment.
Brandon Weiss Vice President, Financial Systems & Process Improvement, AEG Worldwide

Hassle-free implementation

Corporate accounts payable was the first AEG department to implement Perceptive Content as part of a phased, company-by-company approach. Weiss was satisfied with the Lexmark deployment.

“Lexmark’s implementation was great and their solution architect was very helpful,” he said. “She had worked on many other AP projects and applied this knowledge to help improve our best practices.” The success of any software deployment is in the hands of the users: they either embrace the new system or it becomes “shelfware.” Weiss was pleasantly surprised by how quickly his colleagues took to Perceptive Content.

“We were concerned about executive buy-in, but once we showed them how easy Perceptive Content makes it to view and approve invoices, they were on board right away,” he says. “That made it an easier sell to our other users.”

Results

Simplifying AP processing

The company’s AP staff members input invoice data into Perceptive Content. Invoices are then sent to approvers who use Perceptive Content or the browserbased client, to review and approve or reject each one.

“Now our staff members can access invoices from anywhere via the web, and approve invoices when they’re on the road,” Weiss says. “This is a huge benefit.” Many invoices originate in various AEG offices across the country, and then are sent to other offices. Before, some invoices that exceeded certain dollar amounts or met other criteria were approved locally, shipped to Los Angeles for executive approval, and then sent back to the originating office. Now, all levels of approval are done electronically, saving time and eliminating mailing costs.

Seamless integration with Oracle’s JD Edwards EnterpriseOne system

When evaluating process and content management software, one of AEG’s key criteria was the ability to enhance the existing Oracle JD Edwards EnterpriseOne system. Lexmark’s day forward scanning partner, Scanning America, scans and indexes each invoice and uploads it into Perceptive Content. With the help of Lexmark, AEG built an e-form that is nearly identical to the JD Edwards screens that staff members previously used for entering GL codes and other information—making the transition even easier. They can then validate the data in the e-form against JDE in real time before finalizing it.

“The seamless, web services integration between Lexmark products and JD Edwards makes it easy for our accounting team to process invoices,” Weiss says. “They can move between the two systems easily, and when a vendor calls with a question, the answer is just a click away instead of us calling them back after a file cabinet search.”

Another advantage is that AEG can now effortlessly track each invoice at each stage of the process—from receipt through payment. This was not possible before, as invoices could be in transit between the offices, sitting on a desk awaiting review, or in a file cabinet drawer.

To further enhance its invoice process, AEG is now using Perceptive Content to capture images of checks sent out via JD Edwards. These checks are automatically linked to the correct invoice within Perceptive Content for easy retrieval as needed.

To further enhance its invoice process, AEG is now using Perceptive Content to capture images of checks sent out via JD Edwards. These checks are automatically linked to the correct invoice within Perceptive Content for easy retrieval as needed.

Delivering quick ROI

With Lexmark products, AEG can now pay its vendors approximately 60 percent faster than they could before. “Perceptive Content has enabled us to eliminate late fees and take advantage of early payment discounts, which has led to a rapid return on investment,” Weiss says.

Eliminating auditing pain points

A financial audit at AEG used to involve requesting a sample of documents from an off-site storage facility and then waiting for these documents to arrive for the auditor’s review. The Lexmark solution has transformed this process.

“For our first audit with Perceptive Content, we simply gave the auditors view only, online access, so they could look at the required documents without wasting the time of our team,” Weiss says. “Now each step in the process is visible from the time the vendor submits the invoice on.” With planned expansions to offices in London and Berlin, AEG is just scratching the surface of the potential benefits from its process and content management project.