Accounts Payable - ParexUSA - Manufacturer of Building Systems
The Paper Problem:
Processing several thousand invoices paying over 600 vendors proved a time consuming and tedious task for this team of 4 accounting clerks and their supervisor. Each day when invoices and delivery confirmations were delivered, the team alphabetized the documents by vendor name, and then used those same source documents to enter the information into the accounting system. Prior to paying an invoice the responsible clerk was required to confirm that all required documents had been received and when necessary, a manager's OK had been received. If any of the required documents or signatures were missing, the invoice could not be paid risking the loss of discounts for prompt payment.
Paperless Processing:
As invoices and supporting documents are received a team member scans each document to a "work queue" on the server. Documents are opened using eCopy (a desktop imaging application), named and saved to DocuShare which automatically organizes the documents by vendor name. When a manager's authorization is required a 'digital copy' is emailed to the responsible manager who then OKs the payment in an email reply which is cc'ed to DocuShare and automatically saved as supporting documentation in the transaction record. Payments are processed as scheduled and all paid invoices are available to authorized users directly from any Internet accessible desktop.
The Benefits of Paperless Accounts Payable:
- Invoice and backup documentation matching is automated - invoice processing is accomplished is less time
- Audits are simplified due to easy secure access to specific vendor records
- Vendor questions can be resolve in 1 call, eliminating call-backs
- Cost center managers have direct secure access to historical records from any Internet connected computer
- Eliminates the need for year-end file maintenance and boxed storage
"Implementing DocuShare for AP processing was one of the best decisions we every made!"
