Category: Organisation

Companies benefitting from computer based techniques for invoice processing

Automated document processing has been a popular and cost-effective method of handling invoices and other records electronically for 50+ years. The ability to scan a document into a computer’s automation software on arrival simplifies the entire process of invoice processing.

No longer do company staff need to go through a lengthy manual filing procedure of up to 15 steps before an invoice can be paid. These days, accounts payable employees bank on automated document management systems to do the hard work for them. Intelligent Data Capture (IDC) systems save employee time and reduce the risk of human error in a way that, not too long ago, would have seemed impossible.

Sometimes, there is the complicationof different companies using different invoice processing systems, or of dealing with a company that is stuck in the past, still doing all of their filing and processing by hand. However, there is a broad consensus across industries that automated systems represent the future of administrative business work, and it’s not likely to be long before most companies catch up, especially given the saving of time and error that comes with using automated document management.There is such a big variety of types of files that can benefit from automated document processing, especially given the increase in traceability and communication that has come with the universality of the net. Most companies use automated databases to store information about sales suppliers employee payroll and performance, as well as to generate pay slips and periodic progress reports.

Another little-appreciated benefit to automating invoice processing and other documentation management is an eco-friendly one. Businesses who take the step to bring filing and databasing online save significant amounts of paperwork, especially using innovations like electronic invoices and purchasing orders. Just think about how many trees are downed per year to supply printed invoices, pay slips and sales orders. Most people aren’t aware of the scale of this problem, but almost all companies are more than aware of the extortionate cost of printing sheet after sheet of paper – often only to feed that information back into a computer manually.

But all of those filing cabinets full of ecologically-unfriendly paperwork are becoming a thing of the past as more and more managing directors realize the importance of cloud-based digital document management. Outsourcing gives companies the liberty to spend valuable time focusing on raising sales, brand awareness and manufacturing levels, whilst able to sleep easily, knowing that the day-to-day filing tasks are taken care of.

Please visit http://www.bottomline.co.uk/ for further information about this topic.

 

Document management systems make tracking and storage more intuitive

It’s undeniable that centralised document processing makes life easier for everyone. Rather than information being kept – or locked! – in individuals’ heads, or in separate email exchanges, a well-thought out document management system creates an accessible pool of information. This is most significant when it comes to financial processes, as reliable invoice processing can save not only time but money, optimise working capital, and ensure regulatory compliance.

Having established that effective document management is integral to the smooth operations of any company, big or small, the implementation of a DMS means looking for a dependable provider. It’s not unheard of for some such providers to supply disappointing solutions, not to mention hidden costs. However, a provider who knows what they are doing will be able to enhance every aspect of routine but necessary procedures such as archiving, indexing, invoice and document processing, and central storage.

First and foremost, implementing a good DMS will visibly reduce costs, and increase working capital. This is due to DMS’s centralisation of resources, which gathers your documentation into a searchable library of information. Utilising your data in this way makes the most of its valuable potential to your company. Cash flow is enhanced thanks to the central control of invoice processing, and money previously spent on paper storage facilities is saved thanks to a reduction in the space needed to store a mass of information.

The value DMS systems can deliver does not rest solely upon measurable figures. Making a pool of information readily available does not only make your staff’s lives easier, and increase the smoothness of daily internal operations, but can have a notable effect on the ability of your company to provide an excellent customer service. If your response, allied to your DMS system, to complaints and enquiries is prompt, accurate and professional, you will secure a competitive edge. Not only this, but the distribution of information electronically is efficient at really honing down a target market, using collected data and analysis to get your message out there more quickly and effectively.

Putting a document management system in place is a solution in more ways than one. Saving time and money, increasing value, improving security and control, centralising storage and tracking, enabling sharability and integration are only the beginning of the benefits of much more effective document processing. Ironing out the creases in invoice processing could make all the difference to the success of your business, and consequently document management becomes not a problem, but an investment.

Please visit http://www.bottomline.co.uk/ for further information about this topic.

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Learn the benefits of outsourcing your document management

Finding a way to streamline financial processes is one of the cost saving areas that more and more firms are exploring now that the world has emerged from the economic crisis.

Invoice processing can be both time-consuming and expensive. Research shows that it costs between £4 and £10 to process a single invoice.  By automating this vital process through a world class managed service, companies have more time and resources available to spend on the essential day-to-day running of the company.

You don’t even need to worry about spending a lot of time implementing these new methods. You only need to communicate a new mailing address to your suppliers and then you can start to reap the advantages of Bottomline’s automatic systems.

It’s not only invoice processing that eats up time, think about all the daily documents that stream into your company. Wouldn’t it be brilliant if you could outsource document processing as well? Believe it or not you can!

Invoice processing, document management and document processing are all specialist services offered by Bottomline Technologies. Bottomline specialises in executing financial process improvement and they guarantee that you will see instant business benefits.

Some companies are hesitant to outsource document management for security reasons. Have no fear! Bottomline uses only the newest encryption techniques that ensure the complete safety of all your sensitive information.

By adopting electronic document processing, you will also be fulfilling another vital role. That of improving our quality of life. We read a lot about green issues and one major problem facing the world is the decimation of the rain forests. Trees are used to make paper and if we can eliminate the need to use as much paper, fewer trees will be destroyed.

Establish a green strategy for your invoice processing and document management and you will not only save time and money, you’ll reduce your carbon footprint as well.

Please click http://www.bottomline.co.uk/ for further information about this topic.

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