5 WAYS SMART DOCUMENT CAPTURE
RESTORES ORDER TO ACCOUNTING
In today’s highly competitive market, organizations are always looking for ways to cut costs, increase efficiency and strengthen the bottom line. But if yours is like most Accounting Departments, you’re threatened by forces that menace efficiency and jeopardize cost-cutting.
HIGH NUMBER OF DISCREPANCIES
MANUAL INVOICE APPROVAL ROUTING
LOST OR MISSING INVOICES
MANUAL DATA ENTRY
INABILITY TO RELIABLY CAPTURE DISCOUNTS
DUPLICATE PAYMENTS
DECENTRALIZED INVOICE RECEIPT
SOME INVOICES STILL PAPER-BASED
5 WAYS TO WIN
WITH SMART DOCUMENT CAPTURE
There’s a powerful solution you can leverage to overcome the forces of chaos: smart document capture. Here are five ways smart document capture can save your AP department money—or even turn it into a profit center.
1. Rocket processing efficiency to new levels
With smart document capture, you can boost your efficiency in processing time by up to 50%. According to stakeholders at RC McLean who have implemented smart document capture…
“What used to take us 3 days now only takes less than half the time. We only need limited supervision for the review and validation exceptions.“1
2. Locate Data in Seconds, Not Hours
Accounts payable automation, including smart document capture, gives you the power to instantly access the AP information you need. Vopak loves the results:
“We can now find documents in literally 15 seconds.“2
3. Vanquish AP Silos
Smart document capture is vital for AP to connect with, and maintain visibility throughout, the entire organization.
“Ephesoft helps us enter invoices faster and capture the right fields with validations in place. The best part is that we have visibility into our data from any location within the company. This was beneficial because our accounting is decentralized, so now we have a global perspective.“3
4. Reduce Prep Time to Defend Against Audits
When it’s time for your AP team to plan for upcoming audits, smart document capture decreases the amount of time you’ll need to prepare.
“For audits, it would take us two to three weeks to prepare all the documents. Now, it only takes us a few hours.“4
4. Empower AP to be a Profit Center
Yes, you read that right. Real heroes of Accounting have been able to transform AP into a profit center. Smart document capture helps you maintain better vendor relations while you capitalize on discounts, rebates and on-time payments.
“The [smart document capture] platform gave us a clear picture of our cash flow, so we could make better decisions. We now have increased flexibility with vendor payments. Additionally, with visibility into our cashflow, we can work with vendors on deep discounts.”5
Ephesoft Transact, a leading smart document capture solution, has helped organizations decrease invoice processing costs by up to 50%.
Automate invoice processing and streamline department operations to save money
Demonstrate accounting innovation, efficiency and accuracy
Focus on negotiating deep discounts and leveraging rebate programs
Ephesoft delivers Smart Capture® technology on a private or public cloud platform that turns the world’s unstructured content into actionable data. For more information, visit www.ephesoft.com/solutions/accounting.
© 2018 Ephesoft Smart Capture is a registered trademark. All Rights Reserved
