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How to Get to a “Paperless” Business

You may already know the stats*:

• 72% of all invoices received are paper-based;
• 75% of time working with paper-based information is wasted in searching and filing it;
• 10% of documents are misfiled or lost at a cost of $120 for misfiling and double that for lost;
• Efficiency in managing document processes is the number 1 concern of most companies.

What’s the good news?

But what if you could join the happy converts of TCM who report productivity gains of 20% or more, administrative efficiencies and client service delivery both increased by 25% or more, and all at a cost of less than 5% of total IT project spending this year?

What does “paperless” mean to you, and how do you get there?

If you’ve been cruising the Web, searching for information about going paperless, then you might have already discovered that “paperless” means different things to different people and organizations.

• Electronic documentation for less printing and saved trees. To Joe, a county commissioner, “paperless” means distributing meeting notes electronically, and discussing those documents during meetings while commissioners view them on tablets.
• Capture for easier retrieval and reduced storage costs. To Trish, head of AP at a small manufacturing firm, “paperless” means scanning and filing incoming paper and electronic invoices associated with her GP transactions after those invoices have made their way through an otherwise manual process.
• Workflow for improved cash flow, compliance and productivity. To Martin, the VP overseeing outsourced accounting at a national management consulting firm, “paperless” means capturing paper documents at the remote locations where received, attaching them to transactions within the firm’s Dynamics AX system, and routing them for approval based on various amount and departmental business rules while the transaction is held from posting and payment.
• Case management for complete visibility. To Karen, the CFO of a distribution company, “paperless” case management allows her to see all of the required and ad hoc documentation of all of the payments in a check batch so she can check up on that vendor’s outstanding delivery, or on the back-up documentation from that remote business unit, or review the escalation rules for the VP who was out of the office, all from a few clicks in her Web-browser, before selecting those to pay and those to hold.
• Maximizing automation for end-to-end efficiency. For Johnathan, the operations manager at a healthcare company, the KwikTag platform automates indexing of location and rule-based routing to the central office for processing. Coupled with multiple tiers of business, delegation and escalation rules, KwikTag means less courier costs, less touches, and more time to concentrate on the top priority: patient care.
• A vendor portal for better relationships. To Christina, an AP Manager, it means less calls from vendors, no papers to file, instant access documentation and audit trails; and to Peter, the IT Manager, the vendor portal was a quick setup leading to a looming promotion.
• Scale the solution as a whole for access and process improvement throughout your organization. Need to add document processes that are not on Dynamics? Use another system for parts of the process and want to integrate the data? Have remote locations or mobile approvers? Already have a barcode process that you want to incorporate? Have high volumes of back-storage?
  

Paperless is a destination, and a journey

Here at ImageTag, we consider “paperless” both a destination and a journey. You can move from “paper” to “less paper” to “paperless” by implementing easy, incremental steps in the context of your business processes, and by using technology that expands and scales when you’re ready. And, even better, you can do this without the need for complete re-engineering, without a whole lot of hassle, and while getting return on investment—right now.

Next, Compare KwikTag to other choices...