Automate Invoice Processing
Automated Data Entry-Smarter BPO
A Technology Based Platform Approach To Invoice Processing
According to a benchmarking report published by the Aberdeen group on e-payables, best in class (top 20%) enterprises process an invoice in 2.9 days for $3.47. What would it mean to your business to be top 1% with no capital expenditures?
Sound familiar? After years of integrating EDI processes and networks in an attempt to automate the inflow and outflow process of buying and selling goods, you still receive hard copy invoices via fax, email and/or mail. Manual processing of invoice volume is time consuming, expensive, and prone to errors.
Our Solution: Improve your order accuracy, reduce your costs, eliminate peak processing challenges, and achieve real-time order entry with a platform based solution.
- Multiple Paths For Incoming Documents:
- Accept invoices arriving in multiple formats – fax, mail, email or upload via supplier portal
- Eliminate Transmission delays and paper handling errors hold up data entry
- Inventory Control challenges tracking every invoice in hard-copy form
- Invoice Processing Automation:
- Eliminate manual data entry which is slow and costly, utilize algorithmic OCR
- Key entry errors cause problems and delay orders, utilize database look-ups
- Incorrect or incomplete order information prevents processing, eliminate with programmatic business rules
- Exception Handling Queue manages:
- Information on orders does not match internal systems data (e.g. SKUs, Bill-to,
- Ship-to, Account information)
Requested terms and conditions do not match permissions in your system Correction of flawed orders is time and labor intensive Processing delays can lead to changed, postponed, or canceled orders
According to Aberdeen, most companies (62%) today still have a highly manual process of receiving and entering an AP Invoices into their ERP, is a maze of manual steps with very little (if any) automation. This means their processes are slow, expensive and prone to error.
Key benefits to platform based, technology driven, business process outsourcing
- Administrative Cost Reductions 30% – 60% Hard Dollar Savings.
- Throughput Maximize early payment discounts, prepare for dynamic discounting via a supplier portal
- Management and Control of Peak Processing Elimination of staffing and order accuracy challenges during peak order cycles.
- Significant Reduction in Error Related Loses Our 99.7% data accuracy rate should greatly reduce losses due to incorrect order information.
- Improved Customer Service In many organizations Customer Service staff spend 50% of their time entering orders. In these cases: customers suffer, up-selling and cross-selling suffers, job satisfaction suffers.
- Market Positioning & Promotional Benefits A partnership with us will position you as a technology and process leader.
We are an outsourced solution provider that specializes in the integration of messaging and document and information management solutions. We currently process millions of documents per month for clients in many industries. We have over 10 years’ experience providing advanced, mission-critical solutions. Implementation cycle of a customized solution for you can be as short as 30 days, and is designed to minimize the impact on your IT and order management resources. Call us today for more information.
We enable clients to experience the benefits of cutting edge technologies without the capital expenditures and infrastructure traditionally required. Working with us lowers your risk and helps you improve your performance. The services we provide create significant hard dollar cost savings.