A few months back I was contacted by an existing client regarding a document that was missing from their electronic records. We scan for this company every week and upload their documents into our Cloud ECM solution, ImageSilo, so I immediately went to work to locate the missing document.
During my investigation and further conversation with the client it was determined that the wrong vendor had been paid and the missing invoice was misfiled. I also learned that they were still using a very manual process and were manually hand keying thousands of invoices each week. With the amount of vendors they work with and the manual data entry involved in their process, no wonder an error was made.
Once we learned more about their AP process and their pain points, we set out to find a solution. They now use our Mailroom Automation Services . We receive their invoices at our scanning bureau where they are scanned (or imported if received electronically), indexed, and uploaded into their accounting software.
Since implementing this solution they have shortened invoice processing times, eliminated data entry errors, increased vendor discounts, reduced late fees and interest charges, and have re-established relationships with long standing vendors.
Automating your Accounts Payable process doesn’t have to be complicated. Huge benefits can be achieved by automating even just one area of the process. Manual data entry is time consuming and prone to errors – our Mailroom Automation is only one solution that we offer. If you would like to learn more about AP automation and some of the solutions we offer, feel free to reach out to us here.
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