A Fortune 100 company needed to reduce the time its staff took to process incoming paper invoices. Find out how OnCourse provided the solution.
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.
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.
- 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.
- 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
- 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
The benefits of invoice approval automation are widely known, however finding an affordable solution that is easy to use, enterprise wide, and can be modified to adhere to your specific business rules and processes can be hard to find. An OnCourse solution checks all of those boxes as well as eliminating the manual capture processes by your team through integration with your ERP.
An OnCourse solution meets you at your point of need; from invoice receipt that allows your vendors to seamlessly continue to submit invoices without change, to indexing the required fields backed by extensive quality control verification from your databases. Using a permissions based approach, access and actions are defined by your rules, not software limitations. Approval routing can be fully automated, ad-hoc direct to approver, or any combination. Escalations can be built in and a detailed audit trail is standard. Let us help you configure a solution that gives immediate visibility to your entire spend.Read Case Study
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Response Management & Survey
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