Ensuring your clinicians have the tools, medicine and supplies they need to deliver care is at the forefront of OnBase enterprise content management (ECM) solutions for accounting. In accounts payable (AP) alone, the typical cost of processing just one paper invoice averages between $8 and $10. Between the copying, paper shuffling between departments for approvals, and low visibility into processes, it’s no wonder the AP process is that expensive. On the opposite end of the spectrum, the most efficient AP departments process invoices electronically for less than $2 per invoice. And that is just one end of the spectrum. Added to this is the cost to create the P.O. Requisition, get quotes, negotiate, and place the order.
Hyland Software delivers solutions for invoice processing, PO matching, vendor inquiry, invoice approval, travel and expense, and any other area across the accounting department, helping them:
Intelligently manage documents to make AP faster
- Take advantage of early discounts and avoid late payment penalties through automated workflow and electronic alerts
- Lower the cost per invoice by speeding processes and removing duplicate payments, missed discounts and late payment fees
- Eliminate duplicate invoices by managing information electronically, instead of copying them to send to multiple locations, reducing cost and the opportunity for error
- Reduce unaccounted liabilities by bridging the gap between an invoice’s arrival and time to appear in the system, allowing AP to know exact liabilities at any given time
- Enhance customer service and save time with immediate electronic access to invoices
The AP process has two separate but related players – data and documents. Although Lawson, SAP, Oracle, Dynamics and other ERPs handle data well, paper invoices, packing slips and supporting documents can be a challenge and waste time.
Once you capture AP documents with OnBase – whether paper, fax, email or EDI – they are automatically indexed with data from your ERP or accounting software. Simple approvals that meet set requirements can move straight through processing. Those needing review go directly to AP clerks. Because OnBase enables invoice distribution on the basis of region, vendor, time zone or workload, documents are sure to reach the right person.
AP staff can then send them on to the appropriate approvers. Approvers receive email updates when they have invoices to review and periodic reminders if they don’t do so right away.
A proven history of empowering AP success
OnBase has focuses on integrating with the customer’s existing business applications. Although OnBase is a standalone application, it is increasingly important for all of the customer’s business applications to communicate and share data. Our integrations allow us to reduce user data entry, speed processing time for business processes and increase user productivity – while extending the value of your current IT investment.
Finally, OnBase is more than just a niche or departmental solution. Customers that begin with OnBase in one department can easily grow the solution and scale it out across the entire enterprise.