Every year businesses invest billions of dollars in Finance Applications, Stock Management Systems and ERP technology yet still use slow and expensive manual paper based processes to update them? Automating these processes can leverage the ERP investment and rid your business of unnecessary cost. 
 

At Redmap, we specialise in implementing invoice processing solutions using the latest OCR technology to scan data from paper documents such as Supplier Invoices, Consignment Notes, Proof of Deliveries and Picking Lists. This data is then used to automatically update the appropriate systems and minimise the use of admin and accounting staff to manually key the data.

Redmap also provides powerful workflow that eliminates the tedious and expensive manual invoice approval processes which bury most Finance Departments in paper.

Although not exclusive to the Finance Department, the most common application of this technology is for Accounts Payable and Accounts Receivable invoice processing.

Accounts Payable

A/P automation includes the scanning and processing of vendor invoices which can be easily matched to Purchase Orders if pre-approved, or electronically routed for approval as appropriate. General Ledger codes can be added on the fly to truly streamline the process and the electronic version of the invoice is archived for direct retrieval from the ERP system.

The approvals workflow  allows our customers to avoid pushing paper around the business for sign-off and allows for escalation in the event that a document ‘due by’ date is missed. This can yield significant savings in administrative costs and postage charges, especially for distributed businesses with multiple offices, warehouses or stores.
 
Accounts Receivable

In A/R processing , the printing and distribution of invoices and statements can be automated by email delivery or publishing  to a web document portal for client self-service. To enable this, PODs and consignment dockets are scanned and matched to the original orders. The ERP system is automatically notified of the receipt of these documents, which can then be used to initiate the billing and collections process for customers.

At the end of the period, invoices and statements can be collated and sent to the customers, or published to the Document Portal for secure client self-service. Not only does this avoid wasting labour and other distribution costs, the electronic documents are accessible directly from the ERP/CRM system to streamline Customer Service. 

Integration to systems such as SAP, JD Edwards, Netsuite, Microsoft Dynamics Navision, Sage, MYOB, Quicken, and many more, results in less wasted labour, less printing and no filing!

Key ROI

• Reduce manual data entry in A/P by minimum 50%

• Increase invoice processing throughput by up to 100%

• Eliminate administration and postage costs in approvals process with electronic workflow

• Reduce printing costs in A/R by up to 70%

To understand the positive impact Business Process Automation can have on your business please select one of the following options on the floating toolbar.