Simplify your entire cycle.
Accounting & Finance departments typically rely on manual data entry and paper-based transactions, slowing down the accounts payable/accounts receivable processes, and leaving a large margin for error.
With an automation solution, your organization can eliminate manual data entry and streamline every part of your accounting and finance department.
Save time. Save money.
The average PiF customer saves 2 hours a day (at minimum!) after implementing an automation solution, or 10 hours per week and 40 hours per month (25% of their time!). It also eliminates much of the resource allocation and human capital required to function, typically reducing headcount as well as costs.
The average AP Worker has a salary of $40,000 a year or $19.25 an hour* which means that getting back those 40 hours means you’ll save roughly $770 a month by automating just some of your workflow.
Beyond its immediate cost benefits, there is a long-term ROI on Enterprise Content Management by viewing it as more than just a point solution stemming from specific pain points that need to be solved. While the solutions businesses embrace effectively reduce pain points within their organization, they often overlook the cause of the issue or additional potential for future stability through a stronger holistic solution.
This can quickly lead to organizations spending more money and time on individual solutions, rather than embracing complete transformation of their processes. Often the concept of “digital transformation” is daunting to executives worried about the initial upfront investment, but the decision can be made easier by educating yourself on the specific benefits of a solution as well as how it can integrate with your existing business infrastructure.
Source: The average Accounts Payable Clerk salary in the United States is $39,901 as of September 01, 2018. Salary ranges can vary widely depending on many factors, including education, certifications, additional skills, and the number of years in the profession. The average total compensation, which includes bonus, health and retirement is $40,505.
Security and Compliance
Maintain necessary compliance: Sarbanes-Oxley (SOX), Generally Accepted Accounting Principles (GAAP), ISO-9001, MA 201 CMR 17.00, SEC 17 CFR, Health Insurance Portability and Accountability Act (HIPAA)
- Monitor document access and retrieval with audit trail
- Enforce document retention and destruction processes
- Secure off-site document storage to store documents for immediate disaster recovery
- Legal authenticated documents with time and date stamps and digital fingerprints