Processing invoices from intake through payment is not a profit center for any company. Because of this, many companies don’t spend much time, if any, optimizing this process. Instead many rely on the age-old “this is how it’s always been done” mindset with no real measurement around it beyond “did it get paid in time.” The best operations, however, are always boiling down each process to a cost per number. For accounts payable, that number is cost per invoice. When considering the options for AP process automation, it's impossible to determine if there is value in changing your current process if you don’t know what it's costing you to process an invoice today.
From the hiring process, to onboarding new employees, and even managing current employees, there’s a lot of paperwork and manual processes that can slow things down and make it difficult to keep your Human Resources department on track. Your success as a company is dependent upon your ability to hire the best possible talent, retain and motivate these resources and protect yourself from litigation and compliance issues. The best way to meet all of these needs is by using Recordsforce Cloud.
A shared services center (SSC) is where back office functions, such as Accounts Payable (AP), are centralized. It allows a company to combine resources from multiple operating entities or even separate business units into one single layer center. For example, instead of having an AP department in every state or even country you operate in, you can have one regional or global AP shared services center.
Hiring can be a difficult and complex process, especially when you need to hire a large amount of people in a short period of time. From scheduling interviews to sending rejection emails, it can be time consuming to track each candidate and where they might be in the process, especially in a time where the majority of the workforce is now remote.
Finally getting rid of all your paper documents is exciting and can make your workplace more organized and efficient without all of that wasted money and space. Moving your documents into a document management solution, like Recordsforce Cloud, will give you fast, easy and secure access to your documents. However, once the document preparation process has started, most businesses realize they have a lot more documents than they originally thought. If documents are not properly prepared, it can delay the delivery of accurate work to the subsequent processes of digitizing the documents. There are a few things you can do to help prepare your documents for scanning, which will not only streamline the process and allow us to input your documents faster and avoid potential issues, but will also save you costs in outsourced document preparation.
Businesses of every size have processes that keep their businesses running. Many of these processes, from invoice processing to insurance claims and contract reviews, are done manually and even still on paper or in email inboxes. Companies may not realize how negatively this is impacting their business. These manual processes slow the company down, making them inefficient and unproductive, while the rest of their industry is making their processes faster.
Keeping track of your accounts receivable and accounts payable is key to understanding profitability as a business. Over the past decade, the majority of large corporations have found ways to leverage accounting software and data capture tools to automate their entire process around reviewing invoices. Tools for this are expensive, but at their size, this is a necessity that ultimately produces an ROI for the company due to their large volumes of invoices every month.
In a past world, aperture cards were an extremely useful form of microfilm for archiving important information. You may have seen these types of cards in engineering or building departments, as there were certain advantages to using this type of technology to archive engineering drawings or building plans. Aperture cards have a projected 500 year lifespan, and they are human readable, which prior to computers made them a very reliable and easily searchable form of archiving. If you are unfamiliar, aperture cards typically look like a wide index card (approx. 7.5” x 3.25”) with a piece of microfilm mounted on one side and punch holes throughout the card. The punch holes are known as the Hollerith data and they represent important metadata, as well as card index information that would describe the specifics of the image without needing to actually look at the image itself.
Whether it be moving to a new building, adding more locations or taking over another practice, all transitions can feel pretty daunting. From moving high-value equipment and machinery, to relocating teams of employees, there is nothing simple or easy about these transitions. Even more daunting are the thoughts on how you’re going to move all of the key documents your business heavily relies on, either because you need them to complete daily tasks or because you are legally required to hold on to them. It’s important to have a plan in place to safely and securely relocate your documents.
Topics: #Scanning, #Digitization, Organization, Scan, Documents, Security, Compliance, Paperless, Filing Cabinet, Digitize, Automate, Efficiency, Document Storage, Work From Home, Remote Access, Remote Working
What do you think of when you think of your local city or town hall? Most people don't tend to think of a fast-paced, highly digitized environment. Especially not a place where they could skip the lines and take care of a task online. From car registrations to land record management, local government is responsible for providing documentation to its residents. However, keeping these documents as part of a manual, paper-based process increases the risk of loss, poor accuracy and storage and safety issues. Digitizing your municipal records, such as land records, assessing files, financial records and meeting minutes, can help you quickly become organized, efficient and in control of the tasks that occur daily at your city or town hall.
Topics: Storage, #Scanning, #Digitization, Organization, Scan, Security, Compliance, Paperless, Store, Digitize, Automate, Efficiency, Storing Documents, Document Storage, Work From Home, Remote Access, Remote Working, safety, covid-19, coronavirus