Guest Blog: Eliminate the Paper Shuffle with Document Management and ERP

Bennett Klein of Advanced Processing & Imaging writes a guest blog post for Kaufman Rossin.

Bennett Klein of Advanced Processing & Imaging

Can you and your employees easily locate business documents when needed? Or do you often have to hunt through filing cabinets and piles of paper? Even if your company already has an accounts payable (AP) or enterprise resource planning (ERP) system, adding a document management tool can further speed business processes and reduce costs by creating a secure, central repository for all business information.

Inefficient paper-based processes inhibit productivity and misfiled records are a nightmare. So many savvy organizations have turned to a document management and workflow automation solution to automate manual processes and eliminate the paper shuffle. Document management systems work in synergy with ERP software to make it easier and faster for you to file and retrieve information.

According to a research report published by Aberdeen Group last year, organizations where managers are able to find the information they require on a timely basis at least 80% of the time grew operating profits 16% year over year – compared to 13% for organizations where managers were not able to find information as timely.Inefficient paper-based processes inhibit productivity and misfiled records are a nightmare. So many savvy organizations have turned to a document management and workflow automation solution to automate manual processes and eliminate the paper shuffle.  Document management systems work in synergy with ERP software to make it easier and faster for you to file and retrieve information.

A document management solution can not only speed AP processing but can also increase staff productivity and improve reporting and auditing by eliminating the need to make copies, to manually route paper invoices across the organization, and to manually retrieve, copy, bundle, distribute and eventually file all the supporting documentation. Having a central repository for information is also the first step in using data for informed decision making.

“The CFO who can capture meaningful information on a consistent basis enhances his or her value to the business and can actually improve business results. But access to quality data is often difficult or seemingly impossible,” Kaufman Rossin’s Director of Process & Performance Improvement Services Mike Moore writes in his white paper “Making Data a Competitive Advantage.” A document management tool can help.

How document management software works

1. Wherever paper documents are received, they are scanned into the document management system and associated with a specific vendor or purchase order you have in your AP/ERP system.
2. When an invoice is received and scanned into the system, it typically kicks off the automated AP workflow which will distribute the right information and supporting documents to the right people for processing and approval—all based on the rules you define.
3. Then when you use your AP/ERP system, you will automatically be presented with all supporting documentation, eliminating the need to search and retrieve paper documents typically stored in filing cabinets across the business.

What to look for in a document management solution

Look for a document management solution that integrates with your AP and ERP systems, which means system information like requisition forms, purchase orders and checks can be automatically linked to supporting documents like packing slips and invoices. Approvals, rejections and even notes and comments should be automatically captured by the system. And employees should only see the information that you want them to see—you need complete security and control!

With a document management solution, there is greater accountability among AP staff with improved decision-making. Seamless integration with your AP/ERP system ensures accurate information is securely and easily accessible on demand. A flexible and customizable workflow will enable further process enhancement and deliver greater accounting insight. And auditing becomes an easier, faster and less costly process too.