Kodak Alaris: Accounts Payable Solution Cuts Paper Storage Costs by Up to 90%30 Oct, 2014
ROCHESTER, N.Y., October 30, 2014—A typical accounts payable departments is bogged down by manual, paper-based processes that are expensive, error-prone and inefficient. Burdened by inefficient processes, many businesses are losing money on a regular basis. According to Marina Martin, Founder & CEO of business efficiency consulting firm The Type-A Way, inefficiency also reduces quality and damages morale. In fact, she says, “Inefficiencies cost many organizations as much as 20 to 30 percent of their revenue each year.”
To address this ongoing problem, many turn to outside service bureaus to handle sorting, scanning, indexing and processing of invoices. New England Document Systems (NEdocs) has been a leading provider of these services for more than 30 years. During this time, NEdocs has grown from its microfilm roots into a premier document imaging and workflow automation solutions provider for mid-to-large sized companies.
A large portion of the company’s service bureau revenues come from front-end Accounts Payable (AP) pre-processing mailroom services, where NEdocs is helping clients reduce operational costs and overhead as much as 70% and cut paper storage costs by up to 90%. “We essentially become our clients’ Accounts Payable front-end receiving system for vendor invoices,” explains Kelly Plourde, Business Development Manager at NEdocs. “No matter how their documents originate: paper, email, or other electronic means, we capture and enter them into an automated workflow and make all the data available to the client electronically. They achieve a fully automated accounts payable process without giving up control of their information.”
As NEdocs has expanded its business, the company needed scanning technology that would be capable of keeping up with and powering that growth. “We needed to confirm that whatever scanners we selected would meet all of our requirements, so we did a great deal of scanner evaluation and testing prior to making any long-term capital investments,” says Plourde.
NEdocs executives identified speed, uptime, throughput, image quality, and easy integration as key factors in their purchase decision. Based on prior success with Bell + Howell Scanners, NEdocs put KODAK NGENUITY Scanners on the short list for capture-capability expansion. “We knew the NGENUITY Scanners originally came from B+H and we had been working closely with Kodak’s Document Imaging team (now Kodak Alaris) since 1996,” notes Production Manager Bob Camire. “As we explored options, we found that our speed, quality, reliability, and service requirements were best met by the NGENUITY 9125 Scanners.”
NEdocs has experienced smooth and hassle-free integration of the scanners with its automation software, while dramatically reducing time spent on QC and rescans. Improved flow-through rates of up to 50 percent have resulted in increased process transparency, fewer supplier payment calls, decreased invoice processing times and costs, elimination of payment errors/late fees, and the ability to benefit from early payment discounts.
NEdocs was impressed with the scanners’ 100 percent compatibility with PaperVision Capture Software and Vision360 Enterprise, and the features—especially image enhancement—of the 9125 Scanners (www.kodakalaris.com/go/ngenuitynews). As a result, NEdocs purchased several new 9125 Scanners and a KODAK i5600 Scanner (www.kodakalaris.com/go/i5000news), creating a stronger front-end to provide expanded pre-processing mailroom AP services to new and existing clients.
NEdocs’ AP workflow delivers multiple advantages to its clients, ranging from verification of all capture data for accuracy and streamlined integration with ECM systems, Microsoft SharePoint, Oracle and others, to instant access to accruals and complete visibility and control of the AP process from the moment each invoice is entered.
“The NGENUITY 9125 Scanners have proven themselves and demonstrated great ongoing performance over time,” Camire says. “That’s why we’ve added more to our fleet and invested in the KODAK i5600 Scanner. Between the significantly improved speeds and productivity, trouble-free operation, and image quality that our clients love, I cannot imagine better front-end capture hardware for AP and other solutions we offer.”
For more information on accounts payable solutions from NEdocs and Kodak Alaris, please visit http://bit.ly/1wuiK9o.
About Kodak Alaris’ Document Imaging Division
Kodak Alaris’ Document Imaging solutions enable customers to capture and consolidate data from digital and paper sources, understand and extract valuable insight from the contents, and deliver the right information to the right people at the right time. Our offerings include award-winning scanners, capture and information management software, an expanding range of professional services and industry-leading service and support. With customers ranging from small offices to global operations, Kodak Alaris delivers superior systems and solutions to automate business processes, enhance customer interactions and enable better business decisions. The Kodak trademark and trade dress are used under license from Eastman Kodak Company.