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5 immediate benefits when using DocuWare for your Accounts Payable process
All industries are facing pressure to improve efficiency and reduce costs, none more so than automotive manufacturing and supply chain. One area where efficiencies and savings can be achieved is in the accounts payable function. Traditionally a highly manual, data-heavy and error-prone process, but by implementing a document management system with the tools and capabilities of Docuware, with the right expertise you can see significant benefits from the outset.
One of the key benefits of using Docuware is the ability to automate the inbound invoice/credit note processing workflow - from inbox to ERP via approval matrices and automatic data validation. This can be done by setting up Connect To mail and developing authorisation rules within the workflow to appropriately route documents to the right people for investigation, approval, or rejection. This simple step goes a long way toward reducing the manual processing for each document and increasing cumulative process and departmental efficiency. Additionally, Docuware automatically OCRs and indexes documents which means that when stored (having been posted to your ERP/Accounts system) the documents can be easily located by either a parameterised search or the extremely powerful FullText facility. This serves to reduce greatly the time needed to locate specific documents or groups of documents (for example all invoices for a product regardless of supplier) and, saves on the need for physical document storage. Using the SmartConnect tool you can when configured, launch a search from within your ERP system for documents related to a supplier/product/warehouse/location (or whatever!) and have the results displayed in a pop-up window, without the need for complicated interfacing.
Another benefit of Docuware is the improvement in data accuracy. By automating the invoice process and digitising those documents, the risk of error is greatly reduced and, on input, data can be verified and checked for both accuracy and completeness. Because Docuware offers several different options for integration with ERP systems (IPaaS, SQL, LDC) integration, along with our own VERTOSUITE Line Item automation tool, looking at, using and posting data from/to various systems (ERP and accounting for example) data consistency and accuracy is both improved and maintained.
Reducing purchase-to-pay time is another key benefit of automation using DocuWare. By automating invoice processing and digitising documents, the time it takes to process an invoice can be greatly reduced by using features such as automated ERP invoice checking and electronic signatures with ValidatedID, which can all help speed up the entire chain process.
Tracking documents once they have been stored and are in workflows is as easy as 1,2,3. By providing real-time access to data and document status, users with the correct permissions can easily track the progress of documents across the organisation, anywhere in the world and ensure that they are being processed in a timely manner. This improves communication and collaboration across departments, as well as improving supplier relationships through more consistent and timely processing to pay.
In summary, Docuware with Vertosuite by Anota gives you:
- Effective automation of invoice processing workflow
- Accurate digitisation of documents at both header and line level
- Improved data accuracy
- A reduced purchase-to-pay time and subsequent improvements in supplier relationships
- Better visibility and control over the entire AP process.
For more information about DocuWare or to have a discussion about how we can help you on your digital journey email James Oswald here, complete this form or call us on 0113 887 2402.
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B&W Car photo by Torsten Dettlaff: https://www.pexels.com/photo/black-coupes-70912/
Files photo by Element5 Digital: https://www.pexels.com/photo/gray-steel-file-cabinet-1370294/
