Vendors call to find status of their invoices. This wastes time trying to find where a paper invoice is at or is impossible until it is entered resulting in multiple calls.
Desired/Actual …
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Accounts Payable / Receivable
FileBound A/P SaaS
Very little up front expense and has lots of advantages
- Instantly eliminates expenses
- Instantly increases company profits
- Eliminates paper costs out of your A/P process
- Has no server software to install
- Makes it easy to capture data from invoices
- Makes it easy to route and approve invoices
- Makes it easy to get invoice data into accounting systems with just the click of a mouse
- Eliminates any risk in e-invoices since there is nothing to buy
- converts paper invoices to e-invoices and transfers all the line item detail into existing accounting systems for only xyz.
High volume of customer inquiries
Potential Impact On Your Profits
Manual Data Entry of Invoice Data
The manual entry of Invoice header information, or worse yet, line item detail is a wasted labor expense. Extra labor cost hurts as expense with no offsetting profit – pure waste. Extra labor time …
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Potential Impact On Your Profits
Manual Invoice Routing
Hurt: Slow = requires unnecessary extra staff = $ with no offsetting profit…pure admin waste !
Hurt: Errors + time to fix errors processing: 1)Normal approvals 2)Missing approvals from originator …
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Potential Impact On Your Profits
We need certified exports to go to our ERP
Data must be certified to go to our ERP system such as SAP®, Oracle, Microsoft SharePoint, Alfresco, EMC Documentum, IBM Content Manager. This hurts because it limits product selection and raises …
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Potential Impact On Your Profits
Non-PO Transactions Are A Drag
Get PO'd
It costs $100 in labor to research a $10 discrepancy! Includes Non-Purchase Order invoices, expense reports, utility bills, petty cash requests.
Desired/Actual Result:
A system to capture, track, …
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Potential Impact On Your Profits
Our Invoice process is unique
I don’t think it can be automated. Hurts because unique exceptions are the worst time wasters.
Desired/Actual Result:
A customizable solution to mirror our rules
Methodology:
Use capture rules …
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Potential Impact On Your Profits
Matching the invoice to the PO is time consuming
And it is prone to error when done manually.
Desired/Actual Result:
Automatically see if the invoice amount matches the PO.
Methodology:
Use built in rules and table-lookups
Unique …
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Potential Impact On Your Profits
Invoice Coding is slow and error prone
Speed Up Invoice Coding
The easiest way to cut costs is to cut labor. That doesn't mean you need to go around axing your employees it just means you can get more work done in less time. which means you get to make more money …
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Potential Impact On Your Profits
Duplicate Payments
Double Paying Invoices
Paying the same invoice twice (maybe mailed in and faxed in) costs money ( obviously ) if not caught and costs even more to research and fix. …
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Potential Impact On Your Profits
