OPEX & AnyDoc Combine Technology to Provide Fully Integrated Solution for Accounting2 Sep, 2009
OPEX & AnyDoc Combine Technology to Provide Fully Integrated Solution for Accounting
Tampa, FL (September 2009) — AnyDoc Software, Inc., an award-winning developer of automated document, data capture, and classification solutions, announced the launch of a fully integrated solution for the accounting market in conjunction with OPEX Corporation. OPEX, based in Moorestown, NJ, provides a comprehensive range of high-speed mailroom automation and document capture equipment. The two industry leaders have combined their technical expertise to automate document preparation and eliminate other manual processes including manual data entry, while addressing the specific needs of the accounting marketplace.
Comprised of an OPEX scanner and AnyDoc Software’s data capture and classification software, the unified solution is designed to replace the hidden costs of manual document preparation and document processing typically found in the accounts payable (AP) and accounts receivable (AR) departments. Now a significant portion of manual processes, including document preparation, can be eliminated, bringing the automated workflow closer to the point of document receipt. Along with the ability to automate document sorting and data entry, companies can slash their invoice, remittance, and check processing costs by up to 50 percent or more, and at the same time boost productivity without adding staff. In most cases, ROI can be achieved in months, not years.
"In response to the current economic climate, companies are looking for ways to cut overhead costs without sacrificing productivity," said Mark Smith, Director of Product Planning for OPEX Corporation. "By working with AnyDoc Software, we’re able to offer customers a single solution containing best of breed scanning and data capture capabilities to alleviate one of the most painful areas of doing business—the manual document preparation and data entry found in the accounting department."
Incoming mail, including invoices, remittances, and checks, can be automatically opened by OPEX equipment without any presorting required. A single operator can then simply drop the contents of the opened mail onto the drop scan conveyor for immediate imaging. Unlike many other systems, the OPEX scanners are designed to accommodate the natural condition of the incoming mail—for example, documents that arrive crumpled, have staples in them, or come in a variety of sizes.
The OPEX scanner then creates images, captures data, sorts the documents, and outputs the data and images. This eliminates the need to manually sort documents into different piles, move the piles to different work stations (locations), add separator sheets, and then basically build a batch of documents to process manually via key from paper. In addition, transaction, system and document data is captured during the scan process for use by the AnyDoc software solution, including the document set, batch number, operator ID, bar code(s), check MICR code, and other metadata.
Working in tandem with the OPEX scanner, AnyDoc Software’s solutions for accounts payable and accounts receivable—AnyDocINVOICE and AnyDocREMIT with enhanced Check 21 capabilities, respectively—then imports and utilizes all of the data captured during the OPEX processing cycle. Within AnyDocINVOICE and AnyDocREMIT, the invoice, remittance, and check images are optimized for data capture, creating the cleanest image possible for accurate data recognition. Then, using AnyDoc Software’s unique AnyApp technology, data is automatically captured from the images without the need for templates or manual software “training”, including line item details for both AP and AR applications. By eliminating tedious manual data entry, accurate data is available much faster in a company’s existing ERP or accounting system, and at a lower cost than manual processing.
In addition, the captured data is automatically balanced and validated according to existing business rules. For example, a check amount can be automatically balanced to the total amount of the detail lines on a remittance statement, or an invoice amount can be matched to a purchase order amount. Check images can also be virtually endorsed and deposited electronically, eliminating time-consuming trips to the bank.
Jeffrey Welan, vice president of the Application Solutions Group for AnyDoc Software commented, “We are continually impressed with the functionality and productivity enhancements OPEX provides to end-users. By pairing our technology with OPEX’s leading systems, we are able to offer customers a complete, robust solution, beginning in the mailroom.”
OPEX Corporation is a recognized global technology leader in high-speed mailroom automation and document imaging. Since 1973, OPEX systems have provided performance enhancing workflow solutions and cost-effective results to thousands of organizations around the world. www.opex.com.
AnyDoc Software has been developing award-winning document, data capture, and classification solutions since 1989. Thousands of companies worldwide rely on AnyDoc solutions to eliminate millions of hours of manual data entry while improving their productivity and data accuracy. Any paper form or document including invoices, remittances, and checks can be automatically processed with full data capture without the need for manual keying. Clients include: Fastenal Company, Sony Pictures Entertainment, BlueCross BlueShield, the U.S. Census, LeasePlan, Coop, and more. For information visit www.AnyDocSoftware.com.