Specifications include, but are not limited to: The Board of Regents of the Nevada System of Higher Education (“NSHE”), on behalf of the University of Nevada Las Vegas (“UNLV”) issues this Request for Information (“RFI”) for the purpose of gathering information and identifying qualified companies to provide Invoice Automation Software. This software will be used by the Financial Services Office in order to offer several automation paths that UNLV might take to increase manageability of the invoice storage, processing and auditing processes. UNLV is looking into Invoice Automation Software for the purpose of supporting UNLV’s institution-wide effort to automate, digitize and route invoices. The ultimate goal of the electronic solution is to lower transaction costs, reduce payment processing errors, and provide better control over the invoice lifecycle. UNLV processes approximately 40,000 invoices annually. The top 50 suppliers account for 50% of all invoicing. It is not a requirement, but currently, the most effective way for suppliers to avoid delayed payments is for suppliers to send their invoices directly to the UNLV campus department that ordered the products or services. The campus department that ordered the goods and/or services, upon receiving the invoice, verifies receipt of the goods or services, and then submits a Receipt and Supplier Invoice Request electronically in Workday (UNLV’s financial system). This then triggers the Accounts Payable office to complete the invoice process in Workday and make payment of the invoice. Alternatively, the supplier may email the invoice to the Accounts Payable Office email and the email is then forwarded to the respective campus department. An additional scenario is the supplier mails the invoice through USPS directly to the Accounts Payable office. The mail is received in central mail services and is delivered to a mailbox. Accounts Payable then retrieves, opens, scans, and emails the invoices to the departments. These scenarios rely on continual education of the campus departments in proper procedures for submitting invoices and relies on end users from UNLV’s numerous departments to complete their part of the invoice submittal process. This method can lend itself to date entry errors and also results in Accounts Payable and other financial staff spending additional time to assist and educate campus departments on the process. In either case, invoices can be lost or misplaced on campus or in emails, and/or may not be submitted to Accounts Payable for payment in a timely manner, causing delay of payments. It is envisioned that the invoice automation software solution would automate and streamline the invoice process, reducing the need for human intervention, where possible. An example of this streamlined process might be as follows: Directing suppliers to send invoices to the centralized Accounts Payable department by email, scanning/loading of the invoices, utilizing a software program that can read the purchase order number and other pertinent information from the invoice and then search Workday for that purchase order number and tie the invoice to the associated purchase order. A Supplier Invoice Request and Supplier Invoice would then be generated in Workday and then the payment would be made automatically. In addition, the software solution would allow for storage of invoices outside of Workday for record retention purposes and would allow for easy extraction of invoice/payment records for public information requests and reporting. The current opportunity is in alignment with records retention, automating the link between EDM/Workday, and to significantly reduce the time to fulfill public records requests, it is not in the automation of invoice scanning due to our specific needs and decentralized model.
