Document capture software can improve the speed of your invoice processing and e-invoices can also be incorporated into the flow.

Are you still printing and scanning PDF invoices from your suppliers?

As of January 1st 2013 the European Union issued new legislation that states companies can now store invoices in the format they are sent.

Having a document capture solution allows you to have invoices sent by email to a specific email address where data capture software will automatically retrieve the email and attachments, read the data and input it into the same flow as your paper invoices. Reducing the time taken, reducing costs and eliminating human error by automating the process.

By removing the need to print the invoice and then scan the document you are cutting down on paper usage.

Encouraging suppliers to send e-invoices by email ensures the process is faster and cheaper.

So how does the document capture solution work?

Data capture software automatically imports email attachments such as invoices, order forms and applications straight into the capture software where information is then extracted and managed.

The software automatically detects any attachment – PDF, XML, TIF, PNG and transfers it to the data capture software. Incoming mail attachments can be approved in a matter of seconds and as each email is processed it is removed from the mail server and archived, there is no limit on the number of invoices or forms entering the system as removing from the server will ensure there is no overload.

Forms processing and Automation 

‘Forms’ captures and processes all types of forms in any format. The software reads handwritten text, machine print, barcodes, check boxes, circles, tables and matrixes.

Automatic forms processing is much faster than the manual keying of information it reduces time and money and the information is accurate.

Automated Document Processing

‘Documents’ automates the processing of incoming email to cut operational costs typically by a third. Staff aren’t tied up in laborious tasks of sifting, sorting, identifying and classifying mail items this task is automatically managed by the process. Any incoming paper mail is added to the scanner without any separator sheets  and the software sorts and classifies the documents. Any electronic documents are easily incorporated into the flow.

E-invoicing solutions can detect any attachment PDF, TIF, XML, PNG and transfer it to the data capture software

Automated import of email attachments

‘Collector’ automatically imports email attachments such as invoices, order forms and applications straight into the capture software where the information is then extracted and interpreted.

Collector detects any attachment PDF, XML, TIF, PNG and transfers it to ReadSoft’s© data capture software.

Statistics on your invoice processing

The web based ‘reporter’ helps you keep track of documents and costs and provides accurate real time information.

Document capture software enables automation of invoices received via email and the benefits include:-

A reduction in handling costs as there is no need to manually check incoming email attachments. As long as they arrive in the correct inbox they are opened and imported automatically

1. The speed of invoice processing is increased because incoming invoices are automatically entered on to the system
2. Improved control as email is sorted automatically and all sender information is retained
3. The software enables capturing of text files, PDF, XML, TIF, PNG from email attachments
4. Importing of emailed invoices into the system is seamless
5. Easy set up
6. Completely transparent
7. Seamless integration with the majority of financial systems

For more information on how to automate your invoice processing and to implement an e-invoicing solution please fill in the contact form and one of our expert advisors will be touch.

For regular news and updates please subscribe. You can follow us on twitter, like us on facebook and connect with us on linkedin and google+ for all our updates.

The post Invoice processing – from paper to e-invoicing solutions appeared first on Digital Print Management.

Often referred to as DMS (Document Management Systems) is the use of a computer system and software to store, manage and track electronic documents and electronic images of paper based information captured through the use of a document scanner. [Source: aiim.org]

Loss of data and information management poses challenges for many organisations not least the intergrity and security of senstive company information and the management of

Implementing a document management system will save you time and money!

customers data. Many companies operate on an ad-hoc reactive basis only developing systems when the need arises or when there is an obvious breakdown in the management of internal processes.

Unstructured and ad-hoc solutions evolve out of a legacy of existent systems most of which are paper based resulting in duplication, non standard and system inefficiencies.

This coupled with the increasing public awareness in the sensitivity of data exposes companies to unncessary risks and cost.

How do you manage your documents?

Information management is a critical part of the business process on par with more traditional business operations but few organisations consider it to be so or, have the time or expertise to build an information management program.

Document Management is one of the more complex and sensitive jobs that an organisation has to manage.

Documents are created, edited, published, revised and stored either as a paper file or electronically. This is referred to as the documentation life cycle and managing the procedure is known as document management.

Companies create and store many business documents with people contributing to the system daily making the management of the process an even greater challenge.

When a document is created electronically, it requires some storage space on a PC. Someone creates a document but it is feasible that several other people in the company may require access to it this can be problematic if the organisation has many employees and this is further complicated when you factor in employees who work remotely or are located all over the world rendering saving the document on a personal computer locally inaccessible.

Document Management systems reduce paper filing provide instant access to files, can store any document type securely.

Here are some tips on how to implement a document management system using an outsource partner

• Hosted document management solutions offer a pay-as-you-go model based only on the services you need and the volume you process. The solution provider is responsible for hardware and software upgrades giving you access to the latest features without capital expenditure. A hosted document management solution can be running in a matter of weeks compared to the months it takes to evaluate, procure and then install an in-house solution.
• The average business produces a massive volume of documents which can make locating and retrieving documents in a timely fashion a real challenge and to compound matters files are often filed in non standard indexing systems making documents difficult to find. A single source supplier for document management solutions can help reduce operational and legal risks by managing a company’s information assets as they have the expertise, infrastructure and knowledge to provide best practices for implementation.
• Workers waste thousands of pounds each year trying to find information that doesn’t exist, can’t be found or is recreated again. Up to 50% of our time can be wasted trying to find the information we need.
• Outsourcing enables the service provider to minimise your business risk associated with in-house solutions where physical records are moved offsite to storage facilities, scanned and then returned for re-filing increasing the risk of lost and incorrectly filed documents. Physical documents are easier to find, scan and can be filed in a single location and the paper document never leaves the security of the vendor’s facility. Audit trails are maintained making it easier to access valuable content.
• Managing documents with unstructured content and in a non standard format requires additional business and information technology resource. Documents stored in cabinets, record storage boxes and scattered in different locations and electronic files stored in multiple applications makes accessibility a real challenge. Using a DMS combines the cost effectiveness of traditional paper storage for the bulk of your records with the speed, convenience and cost savings of digital access. Files are kept in paper format and are scanned on demand.
• Employees want self service access and retrieval and as speed is of the essence digital file access has to be put in the hands of end users. A hosted document management system can support this requirement providing intelligent scanning and image capture features supported by a digitisation process. Once documents are imaged they can be made available via an FTP site (File Transfer Protocol), ECM system (Enterprise Content Management) or via a hosted repository.
• Few organisations have the resources or expertise to create or implement an effective document management strategy and solution. When outsourced the vendor takes care of the document management conversion, information security and privacy making sure best practices and compliance are followed.
• Implementing a DMS can be a foreboding exercise but using an experienced provider who can manage the complexities of setting up a program cost effectively and efficiently will save time and money and will provide considerable value to the organisation in the long term.

Alchemy Document Management solutions and software creates a digital file cabinet for your company where you can securely store any document type and then find it within seconds. Providing document scanning, document imaging, document archiving, fax archiving and electronic records management capabilities.

For an impartial chat call us

For news and updates please follow us on Twitter, Linkedin and like us on facebook!

 

The post How to implement a document management solution appeared first on Digital Print Management.