In part 1 of this blog post we discussed a typical client call regarding Ontario records management and how many clients are surprised by the price of document scanning and the fact that this is most likely because they are not fully utilizing their document management services.
Here in lies the problem, and would explain why the majority of these clients nearly fall out of their chairs when they find out scanning 100 boxes is going to cost more then a $100.00… There’s no business case, there is no challenge or pain, and storage space will always be less expensive then scanning.
That being said, accounting departments have one of the strongest business cases for Ontario records management, the problem is most of them are looking to implement the solution at the wrong phase. AP and AR documents are some of the most actively handled in a company. They are passed between departments, they require verification, processing, multiple approvals, line item matching, follow ups, signatures, etc. etc. all of these steps are said and done by the time the files reach the cabinet. At this point there is nothing left to automate, there is virtually no time-savings and there is no room for process improvement.
However, if we look at interjecting Ontario records management at the beginning of cycle this business case is clear for most organizations. For less than the cost of most back-file conversion, organizations can implement and electronic document management solution which would allow for:
- Electronic document import of AR documents (no more paper)
- Automatic emailing of invoices, PO’s, etc.
- Automated processing and indexing of both structured (AR Invoices) and unstructured (AP Invoices)
- Matching if scanned documents to existing files within the system (i.e. singed packing slips automatically being matched up with the corresponding order documents)
- Electronic workflows for AP approval processing; and much more.
Don’t get me wrong, Ontario records management companies love to scan back-file collections and sometimes there is a very clear cut business case to do so; but interjecting Ontario record management at the beginning of the accounting process makes it simpler, faster and more customer service focused.
For more information about Ontario records management, contact MES Hybrid Document Systems.