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Accounts Payable Solutions

Accounts PayableThere are many challenges facing finance and accounting organizations as they work with large amounts of disparate forms, documents, and other sources of hard-copy information. The ability to manage these documents well is critical to operational effectiveness, and must also be done with high employee productivity to minimize expenses. Document management techniques and technology provide excellent tools for achieving these organizational objectives. Document Imaging Technologies has successfully delivered such services and products to many finance and accounting organizations. An application that is very commonly deployed is the use of imaging for the accounts payable process.

The Solution
The challenges facing accounts payable departments focus on managing available early pay discounts, avoiding late payment charges, and dealing with billing issues quickly and efficiently. As most vendor invoices are unique hard-copy documents, the burden of managing this paper flow can be large. A solution to this challenge is to use imaging technology that provides automated and intelligent collection, storage, retrieval, and workflow to the voluminous invoices and related documents.

The primary solution for accounts payable is a combination of digital conversions services with a secure Web Based Document Hosting Repository. Your paper documents are converted to digital images, and securely transmitted to our on-line system. With your hosting system in place, your images can be retrieved by authorized users 24/7/365 from a desktop via the internet, or through a private WAN from any location. The system provides sophisticated retrieval techniques, and can also provide workflow processing to organize the flow of processing tasks by the employees.

The easy and organized management of purchase orders, invoices and checks provides our clients with material benefits. Quick access to documents, and the use of workflow processing allow clients to take advantage of available early payment discounts, and avoid misplacing invoices, which may incur late payment fees. The simplified employee access to documents allows for rapid resolution of billing issues and a more productive workforce as employees are no longer forced to leave their desks to search file cabinets to find correct documentation. These benefits readily provide meaningful expense reductions for our clients.

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