Posts Tagged ‘improvements’

How Document Management Benefits Accounts Payable: Productivity Improvements

January 29, 2014

If you’re looking to increase your value as an employee, find out how document management can streamline processes and improve performance. 

Document management software saves time and money by automating labor intensive business processes for accounting and finance departments. In addition to the significant savings that can be realized, there are other significant advantages associated with accounts payable automation, among them improved vendor and supplier management, enhanced employee performance review capabilities, and more efficient transaction verification and audit control. When properly deployed, document management can result in a better, faster and cheaper accounts payable (AP) process. 

Productivity Improvements

Shifting from the manual paper processes of accounts payable to an automated electronic document management alternative leads to several immediate productivity improvements. Invoices are processed more efficiently with fewer errors as each part of the process contains specific checks and balances and contains automatic exception handling for most errors. Error reduction leads to faster validation and quicker payment approval allowing the company to take advantage of early payment discounts. Plus, staff are processing payments and not rummaging through piles of paperwork.

Time savings is a major benefit of using an electronic solution. When front-end document capture is used to convert paper documents into electronic files, the result is the nearly instantaneous ability to track every aspect of an invoice, regardless of where the documents arrive. Even the most distributed procurement process can be handled in near real-time. Physical space in the office is also conserved as paper is digitized and stored on a server and not in file cabinets.

The implementation of electronic process management, sometimes called workflow, yields a consistent predictable process for how typical AP documents are handled and how document exceptions are managed. AP staff can spot discrepancies immediately and can automatically route the issue to the appropriate person for correction. This yields an additional benefit to management as workflow applications provide an overall view of the process that can be used to identify bottlenecks, streamline processes and evaluate employee performance. The workflow application can also be extended to monitor the overall performance of vendors.

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.

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.

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.

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.

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.


FileBound 6.6 : A Unique Experience

October 16, 2013


The FileBound 6.6 release provides a more efficient user experience, mobile support and integration with touch, along with a handful of other improvements we’ve seen a need for from our customers.

Let us know what you think about the changes in the comments below!