All businesses have to pay invoices, and more than 80% are trying to streamline Accounts Payable (AP) processes and reduce costs. Companies use ECMNOW! to shorten time to payment, improve control of sensitive financial records, and to save money by reducing the cost to process every invoice.
Stop PAYING the high costs associated with processing your Accounts payables transaction and GO PAPERLESS all at once..
Enhance Efficiency, Gain Control and Save Money with Paperless Solutions!
Are manual accounting processes consuming your time and energy? Regardless of size, every company has important accounting records to manage. Manual accounting practices can be time consuming, unsecure, and subject to errors. Convert paper items, like invoices, to electronic format and experience efficient processing, information control and money savings. Paperless Solutions! allows businesses in any industry to significantly improve their accounting practices.
- Automatically sort, route and classify documents to increase efficiency.
- Improve internal information control for compliance and accountability.
- Reduce supply and personnel costs to save money.
Accounts Payable Automation in Five Easy Steps
Increase Efficiency with Automation
Locating a single file in a sea of documents can be a time consuming and energy wasting endeavor. Implementing an automation technology like ECMNOW! will help solve many of your accounting problems. By simply replacing a paper-based system with an electronic one, you will improve efficiency.
- Eliminate time-wasting manual data entry using artificial intelligence to extract critical invoice data.
- Automatically sort and classify documents to streamline operations.
- Cross-reference information effortlessly between ECM, accounting and other line-of-business applications.
Maintain Regulatory Compliance and Control Accountability
Many companies struggle to keep track of paper invoices and non-compliance with financial industry regulations can be costly. Laws like the Gramm-Leach Bliley Act (GLBA), Sarbanes-Oxley Act (SOX) and the Dodd-Frank Act require companies to manage disclosures and explain how customer data is protected, shared, and secured. ECMNOW! enables companies to control information, share documents securely and provide evidence of system security.
- Apply access restrictions such as passwords and safeguards using login credentials for digital invoices.
- Comply with data security and exchange standards by generating audit trails and reports while securely managing records.
- Setup automatic retention periods to ensure invoices are not deleted early or held too long.
Save Money by Reducing Operating Costs
Any company that processes invoices needs automation! In many cases, it works seamlessly in conjunction with other ECM products, making users’ jobs even easier. Automation can also deliver visibility into company processes and finances, allowing for improved workflow, cash flow and spend analysis.
- Save money by decreasing the cost per invoice.
- Convert paper accounting records to electronic files, reducing file storage and office supply expenses.
- Faster processes increase money saved on early payment discounts.