Posts Tagged ‘paperwork’

How Document Management Benefits Accounts Payable: Productivity Improvements

January 29, 2014
jfksjflsdkfl;

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.

Maricopa County Sheriff’s Office

December 11, 2013
As the largest Sheriff's office in the country, having employee paperwork digitized helped the department stay efficient.

As the largest sheriff’s office in the country, digitized employee paperwork became a necessity for an effective hiring process.

The Maricopa County Sheriff’s Office is a fully integrated law enforcement agency committed to being the leader in establishing the standards for providing professional quality law enforcement, detention, and support services to the citizens of Maricopa County and to other criminal justice agencies. The Maricopa County Sheriff’s Office, headed by the famed Sheriff Joe Arpaio, is the most talked about and nationally recognized Sheriff’s Office in the country today.

The Problem

The Maricopa County Sheriff’s Office, the largest sheriff’s office in the country, desperately needed to streamline their employee hiring and screening process. Their current method was very complex and paper based, which made keeping track of important documents extremely difficult. Due to their lengthy hiring and screening process they were exhausting their labor budgets. They were constantly extending the timeframe needed to process applicant paperwork. The substantial amount of time that it was taking the human resources department to hire applicants for employment, resulted in excessive overtime expenses, costly mistakes, miss-filed paperwork, and duplicated efforts. With paper everywhere it was also difficult to remain compliant with existing privacy laws and regulations. It was painfully obvious; the Maricopa County Sheriff’s Office needed a document management solution, fast.

FileBound Results

FileBound has completely changed the way the Maricopa County Sheriff’s Office manages their paperwork. They no longer have piles of paperwork waiting to get processed, which allows them to get new employees up and running as a quick and easy process. FileBound is a versatile, highly scalable and feature rich document management solution. Due to its web-based structure it is highly customizable, which allows administrators to create a solution that meets all of their document management needs.

Midwest-based agriculture marketing company serving a global market

August 28, 2013
With over  employees, this ag marketing company couldn't afford to waste time by not managing their documents electronically.

Serving a global market, this ag marketing company couldn’t afford to waste time by not adopting a document management solution.

Faced with growing demand for the over 100 products the company provides, as well as the paperwork and documentation involved in contracting and accounting transactions, this century-old company realized that the old way of doing business simply wasn’t measuring up. They began to look for innovative ways to manage, secure and distribute the documents and information that supported this ever-growing base of business. Ultimately, the decision was made to implement a FileBound® On-DemandTM document management solution to meet their needs.

Customer Profile

A Midwest-based ag marketing company serving a global market. They are one of the top 100 privately held corporations in the U.S. in size and most recently reported annual revenues in excess of 4 billion. They also have over 500 employees located in 65 facilities.

Business Challenge

The company was using a paper-based filing system and finding it increasing hard to meet the needs of the organization and control costs at the same time. A primary issue involved the inconsistency of processes across the organization, which were leading to errors, delays in access to information, run away costs and scalability issues. Documents were stored in different locations using different filing methods making access difficult and costly.

Solution

A FileBound On-Demand hosted solution was quickly provisioned and implemented to meet their document management needs. With the system in place, large volumes of mainframe printouts were eliminated by automatically reproducing them as images and storing them on the system. This not only reduced the cost of creating and distributing the paper reports but also provided secure, instant access to any user that needed them, regardless of their location. The system also allowed the company to implement processes for contract approvals using the integrated workflow tools. FileBound also allowed them to develop document management standards across the enterprise for addressing user access rights, document approval rules, and document retention. The company was able to integrate document searching from within their IBM AS400 based core business applications. This allowed for seamless document access from within user interfaces that users were already familiar with, which resulted in minimal training and quick adoption.

United Property & Casualty Insurance

July 17, 2013

 

With an increase in hurricanes, United's filing cabinets were filling up quickly - something they realized was an unsustainable practice.

With an increase in Florida hurricanes, United’s filing cabinets were filling up quickly – something they realized was an unsustainable practice.

United Property & Casualty Insurance Company (“United”) is a Florida domiciled Property & Casualty Stock Insurance company located in St. Petersburg, Florida. United is a wholly owned subsidiary of United Insurance Holdings, L.C. whose stockholders are primarily from St. Petersburg and Ocala, Florida. United has received a Financial Stability Rating of “A Prime” (Exceptional Financial Stability) by Demotech, Inc., a highly respected rating organization. This rating is recognized by federal mortgage backed loan programs such as HUD, Fannie Mae and FHA.

The Problem

Florida took a record-breaking hit during the 2004 Atlantic hurricane season. Hurricane Jeanne became the fourth in a series of powerful hurricanes to slam into Florida. With peak winds of 120 miles an hour Jeanne hit at almost the exact spot where Hurricane Frances came ashore only three weeks prior. For a company like United, who in addition to offering Homeowners and Dwelling Fire products is a Write Your Own Flood Carrier, the hurricanes caused an unexpected serge in paper work and storage. Even before the hurricanes of 2004 hit it was becoming obvious that United needed to migrate towards a more paperless environment. Earlier in 2004 United forecasted that they would grow the system by 20 four drawer file cabinets per year, however, due to the hurricanes hitting their region, their paper volume increased by 225 full cabinets! With the fear of being buried in paper forever, United realized they needed a content management solution.

The Solution

Shortly after the hurricanes of 2004 United got in touch with a representative from Index Datafiles (formerly KenMar Imaging). United presented their problem as well as the urgency of a quick and practical solution. Index Datafiles seized the opportunity and offered FileBound as the solution. FileBound instantly proved to be a perfect fit for United. Mel Russell, Sr. Vice President of United, expresses his appreciation by stating, “If we hadn’t purchased our FileBound system this year when the four hurricanes hit the area, we would have truly been buried in paper and we would have had to look for more office space.”

FileBound Results

FileBound has completely changed the way United manages their documents. They no longer have overcrowded file rooms or boxes of paper. Document storage and retrieval can be done while sitting right at your desk. Even more importantly, all of their paperwork is now backed up on a regular basis and saved off-site, so that they themselves are prepared for any disaster that may strike. The efficiency and security of FileBound allows United to maintain their fundamental values of responsiveness, stability, and innovation, even in the face of a natural disaster.