Paper-reliant businesses “extra vulnerable” in tough economic times
Most account payable staff want automated document systems but delay ROI by putting off purchasing, says AnyDoc Software
Millions of working hours will be wasted in 2012 by a continued reliance on outdated manual data entry as accounts payable professionals delay their purchase of automated document systems, AnyDoc Software has warned.
Jason Cropper, UK Business Development Director at AnyDoc Software, said that while paper documents such as invoices, purchase orders and remittances were “comforting and familiar”, the inefficiencies and lost productivity associated with paper will make businesses even more vulnerable in an already uncertain economy.
“One of the key drains upon staff resources is the time-consuming and repetitive manual task of dealing with paper documentation,” said Cropper. “Most organisations recognise this, with recent research showing that the vast majority intend to implement automated invoicing at some point in the future.
“But while businesses are striving to reduce costs and inefficiencies today, most of them are only considering implementing automated invoicing in several years’ time. Given that automated documentation systems can bring a genuine return on investment (ROI) in as little as six months, these organisations are delaying the opportunity to make significant savings and making themselves even more vulnerable at this critical time.”
Cropper pointed to a survey conducted by the International Accounts Payable Professional (IAPP) earlier this year, which found that almost half (44.5 per cent) or respondents intend to introduce automated invoicing “within two or three years”, while a further 25 per cent say it will take them longer. Only 11 per cent of those polled were already processing all payments electronically.
“Paper might be comfortable and familiar, but a medium-sized enterprise might handle more than a million documents a year,” continued Cropper. “Without systems such as data capture and workflow processes, that translates as thousands of hours a year spent by accounts staff on repetitive tasks that could instead be applied to more productive work.”
Research by the IAPP shows that only one in 20 organisations have moved away from cheque-based business-to-business payments, while more than three quarters of those polled said the majority of their invoices are paper-based.
“Automated documentation systems are proven to deliver demonstrable ROI, and lead to other significant operational benefits,” said Cropper. “A good illustration is our new case study on AnyDoc Software’s work with Calor Gas. We implemented an automated invoicing system that reduced manual sorting and transactional errors, slashed the number of duplicate payments, improved customer service through better communication and enabled them to strengthen their negotiating position with suppliers and so improve payment terms.
“In a recession, more than ever, it’s vital to that organisations are given the maximum operational advantage. Businesses must ask if they can afford to have potentially productive staff deal manually with millions of documents – or if there is a more efficient use of available time and resources,” concluded Cropper.
Spreckley Partners Public Relations
T: +44 (0)20 7388 9988
About AnyDoc Software
AnyDoc Software has been developing award-winning document, data capture, and classification solutions since 1989. More than 3,000 clients and 70,000 users worldwide in 45 countries 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 additional information, please visit www.AnyDocSoftware.com.