CLEVELAND – May 15, 2012 – The Institute of Financial Operations acknowledged Moen for the creative use of advanced technologies, tools and processes in the areas of financial operations. Recognized organizations must demonstrate a creative business process redesign, an innovative technology or application of technology, an exceptional business performance, or a combination of these areas. Moen was recognized for automating their accounts payable processes with Hyland Software’s enterprise content management (ECM) solution, OnBase, saving them approximately $100,000 per year and reducing manual processing time, paper and storage costs.
Invoice visibility and processing speed is critical when processing over 300 invoices a day. Moen’s AP associates rely on SAP to process these invoices, so leaders wanted a tightly integrated solution. And that’s exactly what they got with OnBase.
If associates encountered a problem processing an invoice, hard copies of the invoice would be sent via inter-office mail, often adding weeks to the payment processing and made it difficult to track and monitor. Now, images of invoices and supporting documents are scanned and stored in OnBase. AP associates instantly view the documents while still working in SAP. If a problem arises, an email is automatically generated and sent to the person responsible. The process is easily tracked and monitored via a workflow in OnBase.
For Accounts Payable Manager Wendy Cambarare and her team, the invoice processing improvement was immediate. “We don’t have piles of paper sitting on our desks anymore,” she says. “We know at any given time what each person has in their queue, what the problems are and what isn’t getting done.”
For more information about how banks are leveraging the OnBase ECM solution, go to Hyland.com/Commercial.
About Hyland Software
For more than 20 years, Hyland Software has been dedicated to meeting organizations’ needs for document and process management with OnBase, an enterprise content management (ECM) solution suite. As OnBase has evolved through consistent product innovation, it remains focused on automating business processes that depend on documents, content and people to operate more effectively.
Tailored for departments and comprehensive for the enterprise, OnBase is designed to grow with organizations, whether it chooses an on-premises or software as a service (SaaS) model. With more than 10,700 lifetime customers, a partner network of more than 300 Authorized OnBase Solution Providers, customers in 63 countries and offices on four continents, Hyland Software is one of the most viable vendors in the ECM market today. For more information about Hyland Software’s ECM solutions, please visit Hyland.com.