Manually processing invoices is wasteful. Our customers tell us that primary issues with the processing of invoices manually include:
- Employing financially trained professionals to be data entry clerks;
- Errors created by the manual checking;
- Delays in authorisations;
- Lost invoices; and
- A total lack of visibility over the process.
The illustration above shows the process through which invoices are sent. The data that is extracted from the invoice drives the matching and application of business logic to determine the authorisation requirements of the invoice.
The logic applied to the matching, and therefore the routing, is dependent on the customer requirements and whether or not they utilise Purchase Orders or not. To understand the implications, please select the appropriate option below. The notification that an invoice requires authorisation is delivered by email prompting the appropriate resource to go to the workflow tool and perform the authorisation.
Regardless of the existence of PO’s or not, the process of automation will remove the manual data entry and errors found in the current manual process. These benefits alone generally deliver a payback period to our Customers of less than 12 months and are typically sufficient to receive approval of the transformation business case.
The true benefit to the Finance Department however goes far and beyond simply removing the manual processing. Visibility is king in the current environment where change is the only constant. Automating your Accounts Payable process with Redmap provides our Customers with a platform to monitor and control their Vendor invoice processes.
Monitoring and escalations are systemically applied to the invoice population. Invoices that have been sat in a yet to be authorised state for a period that is in excess of the allowable period set by our Customers are automatically escalated and re-routed. This ensures that invoices don’t ‘get stuck’ in the authorising party’s in-tray for extended periods of time. The monitoring and escalation of the process means that most Customers see a decrease in processing times in excess of 50%.
A link to the invoice image is also part of the uploading of the invoice to the ERP/Finance system allowing them to be viewed from within your system and significantly simplifying queries.
Visibility is provided over the entire process via the Customer configurable dashboard reports. These reports allow the Customer to understand the exact status of every invoice in the system and standard reports include:
- Invoices by status;
- Invoices in errored state; and
- Total amount of all invoices yet to be authorised.
Redmap has helped our Customers manage their documents for over 18 years now. In that time the platform has matured from a generic document scanning and archiving application to the fully integrated workflow suite today. Our customers leverage Redmap to route documents of all formats and business functions for authorisation, publishing and archiving.
Document workflows are relatively simple to set up in a Visio-like configuration application based on statuses and rules. As each document satisfies the rules configured it is transitioned to the new status and the process continues until it reaches a fully authorised state and the cycle completes.
Our Customers have applied these technologies in many and varied departments/functions including:
- Human Resources – the management of the entire lifecycle of the employer employee relationship including certification;
- Contract management – the routing of agreements, the version control required and the notification to the appropriate parties;
- Document generation – the management of the creation, revision and authorisation of documents such as policies and procedures;
- Form routing – our workflow solution integrates seamlessly with the new Electronic Forms functionality to route the forms completed.
Redmap5 provides our customers with complete access to their documents in a browser based solution.
Your filing structures are created to tag documents with information that can be later used to find them. Think the plastic tags attached to your paper files in the filing cabinets only on overdrive. Furthermore, documents are content analysed at time of filing so even in the instances where they are mis-filed (we are all human), a simple search based on the words in the documents will locate them.
Redmap5 gives you the ability to file documents of any format and access is controlled by password and therefore means that the person looking for the documents is only shown the ones that they have been provided permission to access. This single point of search means that you are not looking in paper files, on desks, on network and local drives for the information that you need to run your business.
Now that the documents are filed Redmap5 provides a platform to control documents that are used in the business. In centralising the documents in Redmap5 our customers know that the version of the document that they are looking at is the most current one and that there is not a later version updated on someone’s desktop.
Our check in check out functionality means that when documents do need to be revised they are locked with the current version available for viewing whilst the changes are being made. Upon completion the new version is checked back in and updated. The integrated audit and compliance controls means that all such changes, including the old versions of the document, are documented and accessible.
Innovative customers leverage the integrated workflow and electronic forms functionality to transform their use of Redmap5 from a simple archive into a document control platform.
Every business uses forms on a daily basis to collect and disseminate information within their business. Everything from new starter forms to expense claims are presented in paper, Word and Excel files and manually routed around the business. This typically creates an environment with limited to no visibility and challenges controlling versions and routing.
Our electronic forms provide our customers with a platform to remove the manual forms from their business. Forms can be configured in a simple drag and drop admin tool to collect the required data and manage all of the branding requirements for the business.
People wishing to complete the form will simply browse to the form from their device and complete it. The data will be routed to the required parties, as stipulated at design, upon submitting the form.
Join us today to understand what true innovation means and how it will benefit your business.