Once your incoming invoices have been captured and gone through your automated AP process, the final step is to manage these documents.  Effectively managing these records is important for government compliance, quick retrieval and maximizing your overall ROI.

There are many ways to effectively manage your electronic records, from a simple PDF file structure, to more complex Enterprise Content Management systems. Determining which solution is right for you will depend on many variables including, volume of records,who needs to access them, and how often they are accessed.

 

PDF files

AP AutomationPDF files are easy to use and don’t require any extra software or equipment. This is a good solution for low volume of documents that are kept for archival and aren’t needed regularly. You can make retrieval easier by using Optical Character Recognition (OCR) to make the PDF documents word searchable. A downfall of using PDF files is the lack of security.

 

Enterprise Content Management Systems

There are two types of ECM solutions: On-Site and Cloud based. Both systems have great benefits including, high security controls with customizable access rights, document tracking and auditing features, and many more.

  • On-Site ECM

On-Site ECM is great for those who do not want a cloud based solution. Your data resides on your own company servers and can only be assessed through your company’s system. Multiple levels of security can be set up with specific user controls to limit who can access specific information and which actions they can perform on a specific document type. It also provides retention controls which flag any document for deletion once the retention requirements have been met. To avoid losing your entire investment, we recommend backing up your ECM solution in case you encounter a disaster.

  • Cloud Based ECM

Cloud based ECM offers on-demand access to documents, anytime, anywhere. Like the on-site solution, multiple levels of security can be set to allow specific users access and can limit the actions that are performed on the documents. This is particularly beneficial if you have staff from all over the country that require access to the electronic documents. Another benefit of cloud-based ECM is that it doesn’t require any hardware or IT personnel – yes, it is secure. Our cloud ECM solution, ImageSilo, has five layers of security including, transmission security, system security, data security, application security and physical security. Your information is protected at every stage.

 

Already have a document management solution in place?

We can convert your electronic documents into just about any format you require to integrate your documents into your existing system.

Regardless of which ECM solution you use, you will increase productivity, reduce physical storage space, and eliminate the costs associated with photocopying, printing and duplicating lost documents.

Once you have successfully integrate all of the Capture. Manage. Automate.™ steps, you can expect to get a return on your investment within 12 months or less!

Contact us to discuss how we can start improving your bottom line today.