In most agencies, accounts payable is tied to almost every department so the need for automation is exponential. Your agency probably receives hundreds if not thousands of invoices and approximately 96% of the processing that is conducted on these invoices is the manual keying of data from paper. But wait―there’s more, each invoice has numerous associated documents. Most agencies receive invoices in multiple formats such as email, fax, mail, and web-based forms. By nature, accounts payable is a document-intensive, workflow-oriented function. It’s often It’s a struggle to find efficient ways to manage, store, and access large volumes of documents. Traditional manual handling processes are error-prone and difficult to track.
An A/P and vendor management solution built using Laserfiche helps you wring further value from your technology investment and will reward you with a short ROI based on the following capabilities:
Faster retrieval times for invoices and other documents. Invoices are stored electronically via scanning or importing; during this process, they are then efficiently tagged with metadata. Metadata (data about data) tags help to dramatically reduce the time needed to find crucial documents, allow participation in workflows, and help minimize or eliminate incidences of misplaced or lost documents.
Automated invoice processing enabling automatic extraction of header and line item detail.
Swift, accurate processing, and fewer chances for human error. Human errors are inevitable, but a thorough QC process can help combat mistakes. This, in turn, helps prevent errors and avoids the need to make time-consuming and expensive corrections later.
Integration into ERP systems such as Microsoft Dynamics, Accela, SAP, Oracle, SmartGov, and Lawson. The user never interacts with Laserfiche because scan and search are enabled directly from the Line of Business application.
Reduced or eliminated storage costs. Because invoices and other documents are scanned into a repository or entered by the vendor via an online form, your agency can cut down or get rid of the floor space and related expenses needed to store paper documents.
