Since year 2000, corporate financial legacy systems have been replaced by ERP systems. However, the pursuit of operational efficiency in finance operations has continued to remain elusive, primarily due to the dependency on manual paper based systems for production processing into ERP. The serial nature of paper processing in finance operations has continued to create major challenges, in terms of productivity, SG&A expense and compliance. As such, Accounts Payable provides an identifiable area of opportunity to streamline processes, reduce costs and add value. The table below illustrates the range of opportunities available to companies who evolve from manual paper based systems to those who have implemented automated vendor invoice processing solutions, in conjunction with e-invoicing strategies.

Source: Aberdeen Group, September 2008

DRC’s “Post-ERP” invoice scanning and archiving service provides secure on-line access to invoices scanned and indexed by DRC at its Kodak authorized Document Conversion Centre. Approved invoices processed into the client’s ERP system are batched for pick-up on a weekly basis for scanning and indexing by DRC. A data extract of transaction information from the ERP system, containing information such as Vendor Name, Invoice Number, Invoice Date and Amount, is forwarded to DRC, via e-mail or SFTP. Scanned invoices are merged with transaction information from the data extract and securely stored within the DRC repository enabling users to search for both recent and historical invoices using an easy to use browser interface offering multiple search paths. DRC’s post-ERP invoice scanning and archiving services can be implemented within days at a one-time upfront per invoice cost of approximately $0.50 per invoice for up to 7 years on-line access. DRC’s CGSB compliant imaging services enable clients to destroy original paper invoices upon completion of the imaging process, eliminating third party off-site storage charges.

DRC’s proposed “Pre-ERP” invoice automation service delivers compound benefits of imaging and workflow to increase the return on investment (ROI) in ERP systems. DRC’s Pre-ERP invoice automation solution converts paper invoices sent to a designated PO Box for initial scanning and data capture before the approval and entry process. DRC’s Pre-ERP invoice automation solution captures (scans) paper invoices along with transaction header information from invoices for routing, approval and integration with the client’s ERP system to initiate payment. DRC capture processes ensure that duplicate invoices are removed from the system and that valid vendors are recognized. Once invoices are captured during the up-front scanning process, extensive manual routing and excessive hand-offs and resulting processing delays are eliminated.

Invoices, complete with metadata captured by DRC are electronically “delivered” or routed to approval queues, reducing both per invoice processing costs and receipt-to-pay cycle times. Approvers in various departments or geographic locations are presented with invoice images, captured metadata and pre-coded GL and cost centre tables for completion (with amount), or editing, to reflect proper assignment of costs. Invoices which require editing or the input of Investigations staff are routed to authorized individuals for problem resolution. Electronic invoices (e.g., pdf documents) can be attached and ingested into the workflow by-passing the scanning process altogether.

Throughout the entire process, AP users, supervisors and managers are provided with a dashboard “view” into the various stages of the invoice approval process using customized web client interfaces complete with a listing of work to be performed, augmented with colour coding and other key performance indicators, to assist in the management of daily workloads at the user and department level. Key management metrics, ranging from invoice processing productivity to aging to accrued liabilities to delays in the receipt of goods and services increase the overall level of accountability on the part of employees and vendors. Report generation and access is provided to supervisors and managers in real time, to manage work and accelerate response to business issues.

DRC’s pre-ERP invoice scanning and archiving services can be implemented at a one-time upfront per invoice cost of approximately $1.60 per invoice (plus start-up and integration costs) for up to 7 years on-line access. Similar to Post-ERP imaging, DRC’s CGSB compliant imaging services enable clients to destroy original paper invoices, upon completion of the imaging process.

DRC’s Pre-ERP solution is based upon a proven and purpose built invoice automation platform which addresses the entire value chain from purchase-to-payment (P2P) including invoice receipt, document image and data capture, GL coding, online approvals with full audit trail, booking in ERP systems, content storage and archiving, workflow management, posting, customized reports, queries and analyses. DRC’s Pre-ERP invoice automation service is designed for companies looking to achieve “Best in Class” operational performance within their Accounts Payable function. Optional modules include and integrated Buyer and Contract functions for a complete end-to-end “purchase to pay” solution.

DRC has scanned, indexed and delivered 100’s of millions images of critical customer content for leading commercial and financial services companies and public service organizations. DRC has successfully delivered, and continues to deliver document conversion and management services for Accounts Payable supplier invoices, using DRC’s proven scalable and high performance scanning and hosted document management services infrastructure platform. DRC has an excellent track record with its clients in the delivery of digital document conversion and hosted document management services in a “Post-ERP” image capture and archiving environment and is working with clients to achieve their vision of a fully automated solution. DRC is committed to working closely with its clients to improve processes and reduce costs in Accounts Payable operations and to ensure that its solutions meet their service, efficiency, compliance and budgetary requirements.

For further information contact:

Barry Braun
Vice President
Business Development
Data Repro Com Ltd. (DRC)
Helping customers focus on their core business!
Bus.  416-251-3721 ext. 234
Cell:  905-601-8782
www.datareprocom.ca