Posts Tagged ‘cost savings’

Three Things to Know for World Paper Free Day

November 5, 2014

world-paper-free-day

 

On Thursday, businesses around the world will stop using paper as part of AIIM’s World Paper Free Day.

AIIM notes that 300 million tons of paper are produced each year and 4 billion trees are cut down annually. If the entire world participated in World Paper Free Day about 11 million trees could be saved.

If you take the pledge, AIIM will make a donation to The Arbor Day Foundation, which inspires people to plant, nurture and celebrate trees. Like FileBound, the Arbor Day Foundation is headquartered in Nebraska. The first Arbor Day was celebrated in Nebraska.

Here are three things to know about reducing paper use in the office.

The Impact of Paper

According to the U.S. Environmental Protection Agency, paper is the biggest source of municipal solid waste in the country. The U.S. alone uses almost 70 million tons of paper and cardboard a year. Whole trees and other plants account for one-third of the materials used to make paper.

Why go paperless?

Enterprises of all sizes can benefit from going paperless, or even just reducing the amount of paper they use. Only a quarter of AIIM community members surveyed say they have a specific strategy to becoming a paperless office.

Businesses can save money on printing, photocopying, storage and labor by going paperless. For example, American Airlines says it will save about $1 million a year by giving flight attendants tablets instead of paper manuals.

Paper documents can be mishandled and hard to access remotely. Almost half of AIIM respondents say the time spent entering data, searching for copies and filing was one of the biggest issues caused by paper-based processes in their organizations. The inability to monitor paper-based workflows is also problematic, respondents said.

Tips for Reducing Paper

One way to successfully reduce paper use is to involve management, AIIM says. Half of respondents in an AIIM survey say they used so much paper because of a lack of mandates or initiatives to reduce it from management. Employees can also cut back on paper by using technology in meetings, where research found that 60 percent of respondents were using paper copies.

Reducing paper use doesn’t stop after World Paper Free Day. Taking a few steps can continue your business’s paper use. For example, measure how many pages each employee is printing or make it more difficult to print my removing printers from employees’ desks. If going paperless sounds out of reach for the moment, consider becoming a paper-light office.

Think about ways to take World Paper Free Day home, such as setting aside dedicated time to scan documents and creating a personal digital workflow to manage documents.

“Enough is enough – it is 2014 and we are still drowning in unnecessary paper, at home and at work,” AIIM President John Mancini said in a press release.

Invoice Processing For the Masses

November 6, 2013
Most existing solutions for automating invoice processing simply cost too much and require technical  resources that small to mid-sized organizations don’t have...

Most existing solutions for automating invoice processing simply cost too much and require technical resources that small to mid-sized organizations don’t have…

According to a 2009 survey conducted by the Accounts Payable Network, the average cost of processing an invoice for companies with less than 500 employees is $8.88, whereas companies in the largest category of 10,000 + employees reported a cost of $3.06. Also, the study reported that front end scanning and automated workflow were implemented by only 22 percent of organizations with less than 500 employees, yet by over 60 percent of those in the largest category.

The results of this survey demonstrate a clear reduction in cost when these automation solutions are implemented. They also point out that the cost of the solution has to be aligned with the perceived size of the problem. This seems to be the main reason why a larger number of small to medium-sized organizations haven’t adopted these solutions. Most of the existing solutions for automating invoice processing simply cost too much and require technical resources to support them that these organizations don’t have. This has left a large market segment underserved, and unfortunately it’s the market segment that requires such solutions the most.

Having recognized the disconnect between the need, the solution, and the cost, Marex Group, the developers of the FileBound document management solution, set out to solve this problem. The Marex Group spent time working with finance professionals from organizations of various sizes and industries to understand the specific challenges that needed solving and the price points that made sense. From this research, we designed and developed the revolutionary FileBound On-demand AP service.

FileBound AP is a hosted solution that allows you to convert your paper invoices to e-invoices with the click of a mouse  and pass the invoice data into your accounting system. FileBound AP as a hosted service, removes the capital cost and  technology resource requirements that keep most organizations from adopting these cost saving solutions. FileBound is  integrated with Microsoft Dymanics Great Plains, Quickbooks, and other accounting systems and can be operated from any SharePoint workstation.

FileBound AP provides the invoice processing all organizations need without the technical and capital resource requirements that normally prevent them from adopting it. Contact us today to learn how easy and cost effective it is for you to implement a FileBound AP solution.

Document Management Industry Roundup: November 1, 2013

November 1, 2013
Busy week? Catch up on what you might have missed in document management news with our industry roundup.

Busy week? Catch up on what you might have missed in document management news with our industry roundup.

This week’s important resources:

1. This school board’s switch to paperless resulted in an increase of transparency, productivity, and cost-savings. http://bit.ly/19NOvjN

2. Has your organization deployed cloud computing yet? It’s expected to take up the bulk of IT expenditures by 2016. http://bit.ly/1gafhrM

3.  “Technology has evolved since the first wave of records management tools entered the market more than 20 years ago.” Take a look at five trends that are an integral part of records management now. http://bit.ly/19TmPKd

In case you missed our latest blog:

For Equity Cooperative Livestock Sales Association, being responsible for the marketing of 894,000 heads of livestock requires the organization and efficiency that FileBound provides. Find out how FileBound streamlined their record-keeping and accounting, along with saving untold amounts of time and money. http://bit.ly/19TlGCH

Document Management Industry Roundup: October 18, 2013

October 18, 2013

Two Businessmen with iPads

This week’s important resources:

1. “The Lawyer” talked with a handful of law professionals about going paperless and its benefits. Take a look at what they had to say. http://bit.ly/1clRlgW

2. Do you know the perfect balance of on-premise and cloud-based tech? The combination your organization has will have an impact on cyber security. http://onforb.es/1cSfwpY

3. If you’ve ever been reminded of CIOs or IT departments when you watch Fight Club, know that you aren’t the only one. Take a look at how the 5 rules of Fight Club relate to disruptive technology. http://ubm.io/1hWDy0P

4. Saving money on paper and increased transparency to the public were two big reasons behind an Indiana school board’s decision to go paperless. The switch is expected to save thousands of dollars. http://bit.ly/1bCI2s2

In case you missed our latest blog:

Find out how the new features and improvements of FileBound 6.6 can make your business — regardless of its size — more efficient. http://bit.ly/15IhAfR

 

Document Management Industry Roundup: October 11, 2013

October 11, 2013
This week's industry roundup has everything you need to know, from cloud computing to managing litigation.

This week’s industry roundup has everything you need to know, from cloud computing to managing litigation.

This week’s important resources:

1. Is your organization’s content organized in a way that makes finding information for an audit or litigation simple? If you control your content before something major happens, it will be easy to manage when there’s a problem. http://bit.ly/17O4Kxh

2. Take a look at these 5 document management strategies your organization should implement, including a policy on document retention and litigation hold. http://bit.ly/16Q4u37

3. Do you want your organization to embrace the cloud? Instead of focusing on cost savings to sell decesion makers on the idea, tout the benefits of growth and innovation. http://zd.net/15VBAxR

4. If the technology your organization has in place doesn’t allow you do your job quicker or more easily, it’s not doing it’s job. http://bit.ly/19CEgRO

In case you missed our latest blog:

With manual paper invoices, Servo Innovations had issues with the time-consuming process starting to hinder their cash flows. After implementing FileBound, the company saved time with a faster invoice process and turnaround, while also realizing cost savings in unexpected areas, like envelopes, paper and postage. http://bit.ly/1hD1Ht8

Paladin

September 18, 2013
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After automating Paladin’s processes, the organization was able to improve invoice turnaround times by 50 percent.

Paladin is committed to providing unsurpassed products and service to its customers. As part of the effort to honor this commitment, management is diligent in examining every facet of the organization, looking for ways to improve results through intelligent streamlining and automation. When management evaluated the company’s AP invoice approval processes, it found the system was inefficient, prone to error and lacking in control. The process included emailing invoices to users for approvals and storing images on shared drives upon approval. Immediately, a plan was put in place to evaluate solution alternatives and make improvements.

The Solution

After thoroughly evaluating the problem and weighing the advantages and disadvantages of various potential remedies, Paladin selected the FileBound Office Automation Solution to correct their system’s shortcomings. FileBound provided:

• An end-to-end integrated solution that saved money on upfront licensing fees and reduced the time and cost of implementation;

• An intuitive workflow design which allowed business users to design and manage their own processes without IT involvement;

• OCR coupled with templating, which automated the processing of invoices that originated as paper, faxes or email attachments;

• Automatic importing and processing of invoices, which improved throughput, quality and process control;

• Workflows that can be designed once and repurposed across business units, allowing greater consistency and reduced time for implementation and adoption.

The Results

Paladin could not be happier with the outcome and improvement in AP processing. The company has improved turnaround times on invoice approvals by 50 percent and seen a return on their investment in less than one year. Management is pleased that the system allows over 90 percent of configuration and ongoing management to be handled without IT assistance. Furthermore, because the system is licensed with unlimited users, Paladin has seen broad adoption with quick expansion to all 12 sites for AP, and there is a roadmap for automation of HR, Purchasing and Contract Management that is expected to be implemented within 18 months.

Document Management Industry Roundup: September 13, 2013

September 13, 2013
Found out what you might have missed this week in the document management world.

Found out what you might have missed this week in the document management world.

This week’s important resources:

1. The paperless phenomenon doesn’t just affect how we do work, but how we get hired now too. Does your organization favor a paperless resume? http://bit.ly/17RRhGa

2. Policy and standardization are an important aspect of document management. Find out how they effect implementing a successful solution. http://bit.ly/1fWUgvX

3. Once you go paperless, you may not realize that you’ve inadvertently taken on some inefficient habits. Take a look at these two lessons to keep in mind about records management. http://bit.ly/18fYnVi

In case you missed our latest blog:

An affordable high-end solution for document management? Find out how FileBound fits the bill: http://bit.ly/15Yp6jn

Document Management Industry Roundup: August 16, 2013

August 16, 2013
Before you start to relax for the weekend, catch up on document management and tech news with our industry roundup.

Before you start to relax for the weekend, catch up on this week’s document management news with our industry roundup.

This week’s important resources:

1.  How should the Internet of Things work? In a perfectly efficient world, your devices will work for you, instead of the other way around. Find out about the upcoming “age of inference” in technology and how it will change how we use devices. http://bit.ly/16LBBBP

2.  How much can going paperless save an organization? This district irrigation board realized they could save $1,800 if their board meetings went paperless. http://bit.ly/14sbAmi

3. What does big data have to do with baseball? Brian Kingrey used big data to win an online baseball competition, despite having no experience. Find out what lessons this can teach your organization about business.  http://onforb.es/143IBoC

4.  How much of your daily work would you still be able to do without a computer? Take a look at how much they’ve changed offices: http://bbc.in/14fm5u8

In case you missed our latest blog:

“We selected FileBound because of its functionality and cost. We liked the fact that it was customizable for each department—the DA, the county board, social services—they could all use FileBound.” – Holly Tanner, County Clerk of Columbia County. Found of more about FileBound’s work with the Clerk’s Office of Columbia County in our latest blog post. http://bit.ly/1cO8137

Clerk’s Office: Columbia County, New York

August 14, 2013

“We selected FileBound because of its functionality and cost. We liked the fact that it was customizable for each department—the DA, the county board, social services—they could all use FileBound.” – Holly Tanner, Country Clerk

Columbia County, New York, sits along the Hudson River with rolling hills extending to the Massachusetts state line. The county’s rich history includes the Martin van Buren Historic Site, home of the eighth president of the United States. Today, the county serves a population of over 63,000.

The Problem

The Clerk’s Office for Columbia County manages all records pertaining to county business. Like many offices, the number of files that required tracking and storage was straining space and staff time. Files were stored in boxes which were often moved off-site. Tracking both files and boxes meant a time-consuming system of double-filing and searches. The county wanted to go paperless and a flexible system capable of handling the document storage needs was essential. Another issue was staying within the limitations of the county budget.

The Solution

Thanks to referrals from clerks of the New York State Association of County Clerks, Columbia looked into FileBound for its cost and features. Holly Tanner, County Clerk of Columbia County, says, “We selected FileBound because of its functionality and cost. We liked the fact that it was customizable for each department—the DA, the county board, social services—they could all use FileBound.” IT Director Randy Wheeler adds, “The licensing makes it more affordable. We also paid attention to the testimonials of other customers regarding the ease-of-use.” Another plus was the training FileBound provided. Kim Dillon, Records Management Clerk, explains, “Rick Jones and Bruce Harper were very helpful in training me; training technically lasted a week but most of the stuff I would be using it for I learned in two days. And if I ever had any questions, I would look in the user’s guide, and if it wasn’t there, I would call Rick or Bruce. I always got a quick, timely response. They’re so helpful.”

FileBound Results

Integrating FileBound into the county processes is ongoing. The Department of Social Services is using it in handling foster care and child care services, scanning documents and using search and retrieve functions on a daily basis. Records Management uses it mainly for box and file tracking and indexing inactive records. “Everything is easier once it’s in FileBound,” reports Kim Dillon, “Finding it, checking it out. It saves me a lot of time.” The full potential of what FileBound can do for Columbia County is a work in progress as other departments come on board. Kim Dillon is excited, “I feel almost like I’m selling it to the other departments. It’s just so easy and I know it would help them out. I just bring in my laptop and show them they could use it to search, index, view, etc. They can see immediately how it could apply to their departments.”