Top 4 Ways Invoice Scanning Saves Staff Time

For most businesses, staff time is by far a company's most valuable resource. Consider the following ways that business invoice scanning can make your invoice input, payment, filing, and searching faster than ever, saving you time and money.

1. Automated input - Optical Character Recognition (OCR) software extracts critical document information—like vendor name, date, purchase order, amount due, etc.—and makes it instantly available in digital format.

2. Accounts payable integration - Once business invoice information is digitized, it is ready for use in automated accounts payable processes. With rules you establish, your software can match invoices to their related purchase orders and automatically approve and send payment.

3. Virtual filing - You can save an unlimited number of business invoices easily when they are in digital format. Without having to make copies or file by hand, staff time is freed to focus on value-adding work, instead of moving pieces of paper around.

4. Lightning-fast search - A simple search by vendor or invoice number is as easy as typing in the name you seek, while advanced search capabilities can filter out similar but unwanted documents to return the exact invoice you need.

Check out our Scanning Solutions and contact us for more information on how to improve your business processes.

Properly Implementing a Scanning Solution

For companies around the world, document scanning has proved to be an invaluable asset. Converting their data into digital files and storing them electronically — and turning their offices into practically paperless environments — proves advantageous in numerous areas, including better service, faster turnaround, improved compliance, enhanced collaboration, and significant cost savings. Not to mention bidding farewell to missing or lost documents.

However, there are mistakes many businesses make when implementing a scanning solution. By simply doing your homework ahead of time and thoroughly analyzing your company and its needs, you can avoid these document scanning pitfalls.

One of the most common mistakes made by businesses when choosing a scanning solution is underestimating the size and scope of their workload. It is important to understand how your company will be utilizing document imaging, and exactly what your scanning volumes will be. Not just your average daily volume, but also taking into consideration your peak volumes during crunch times. Failing to do so can leave you ill prepared, outgunned with the wrong speed or not enough scanners.

Another trap to avoid when selecting a scanning solution is failing to involve all stakeholders within a business. Leaving end-users and departments such as IT and customer service out of the coordination of and planning for a solution is a recipe for disaster. A company can easily end up with a system that isn’t tailored to their needs or requirements, or compatible with your existing infrastructure. This can be avoided by including everyone necessary in the planning process.

Once your document scanning solution has been selected, the final major pitfall is going all in — deploying the entire solution all at once. Attempting to roll out the whole system can overwhelm a business and its staff, and result in major bottlenecks or breakdowns. A phased implementation approach is the ideal way to begin your practically paperless journey. By deploying your solution at a more reasonable pace — by department or group — you gain the additional benefit of experience to identify and implement best practices.

For more information on our Document Management solutions, visit our website at:
http://www.momnet.com/Business-Solutions/Applications/Imaging

Document Management Basics

Your business generates large amounts of paper and electronic documents. As your business grows, so do files, and the time and effort required to manage them. Storing, managing, distributing, and accessing information from this enormous volume of data can prove to be quite a hassle.

Digital document management revolutionizes the management of information and provides the ability to rapidly find, retrieve, and share all the documents in your repository. So what is digital document management and how does it works? What are the essential components of an enterprise-level digital document management system, and the technical issues you must consider?

Digital Document Management

The process of digital document management begins with the conversion of paper or other documents into digitized images. These images can be easily organized and quickly retrieved, indexed, and archived. When files are scanned or electronically converted, a high-resolution digital copy is stored on a hard drive or optical disc. Templates, or electronic index cards, can associate information, such as author, reference number, date created, or key words, with a document. Files can still be viewed, printed, shared, and stored. Which documents users can read and what actions they can perform on these documents depend on the level of security that the system administrator has assigned to them.

Digital document management represents a significant advance over storing information on paper. No longer just ink on a page, the document becomes active content after processing by Optical Character Recognition (OCR) technology. A document management system should offer effective search tools for document retrieval, including full-text search, template field searches, and a visual filing scheme that permits users to browse for documents. The best systems will allow you to find documents using a combination of all three methods.

Document management leverages the value of paper documents. Files can still be viewed, printed, shared, and stored, but with digital document management, these files have the enormous advantage of having active content. You can easily search files with active content, and you can create workflow rules to automatically route files to users.

For more information on our Document Management solutions, visit our website at: 

http://www.momnet.com/Business-Solutions/Applications/Imaging