Case Study: Accounts Payable

Problem

A Fortune 100 company needed to reduce the time its staff took to process incoming paper invoices. Standard procedure was to route the mail internally to the A/P department, sort it, and then open it, at which point processors enter data into the accounting system before filing the invoices for long-term storage. It's a paper flow that requires significant resources, particularly for larger companies.

Solution

OnCourse provided a two-pronged solution. First: OnCourse assumed responsibility for all front-end processing, including administration of a U.S. Post Office box to collect the invoices and all sorting, scanning, and indexing. Second: The resulting files were made available via FileBound Document Management Software, which allows users to access images and perform data collection via the Internet.

Outcomes

• Instead of being routed manually, invoices are delivered electronically (with tracking capabilities) and are available for viewing and use by authorized users anywhere.
• Invoices are processed much faster and with more control, and no longer are misfiled or lost.
• Invoice status tracked from the minute the invoice is uploaded.
• Automatic re-routing of misdirected invoices to the correct business unit.
• Vendor notification of all invalid invoices e-form filed with imaged invoice.

Process Overview

• OnCourse manages the PO box that receives paper invoices
• OnCourse retrieves, sorts, and date stamps all invoices before scanning and giving each a unique image identifier
• Images are posted to the FileBound Web site by 2:00 P.M. the day of pick-up
• Invoices are processed from digital image and then accepted or rejected
• Accepted invoices are routed to the general image repository
• Rejected invoices are routed to the appropriate user/manager or vendor for correction

Advantages

• No more lost or misfiled invoices
• Enterprise-wide access to invoices
• Reduced invoice storage expense
• Faster data capture
• Custom reporting of worker efficiencies
• Sales tax audits take minutes instead of days