In an uncertain economy, it’s more critical than ever to implement changes that make your organization more efficient. But when it comes — to your accounts payable processes, it’s more than likely that you’re still relying on paper-intensive, manual processes that drain productivity — and harm the bottom line.
And when your accounts payable workflows are inundated with — paper invoices and dependent on error-prone data entry processes, — it’s tough get a handle on the — status of all of your invoices. — Plus, because individuals across — your organization need access to these documents for audit and — review purposes, any difficulties managing or distributing invoices — can slow response times and — lead to numerous, unnecessary duplicate copies.
WHAT IF YOU COULD...
- Reduce the amount of paper in your accounts payable workflows?
- Quickly resolve vendor disputes by having the right information on hand?
- Minimize the risk of late payments, fines, failed audits and more?
HOW THIS AFFECTS YOU
— Managing a mountain of paper often leads to lost or duplicated invoices, high storage costs
and long routing times.
— When your invoices take days to reach the right person, payments are delayed and your bottom
— Being overwhelmed by paper increases your risk of fines and other sanctions when accounts
payable documents are not available during an audit.
With Iron Mountain’s Accounts Payable solution, you’ll be able to streamline accounts payable workflows and make invoices readily available where and when you need them. Your invoice processing workflows will become more efficient with the help of patented document conversion and electronic storage technologies — helping you securely control large volumes of receipts and invoices, find what you need faster and accelerate processing times.
ACCOUNTS PAYABLE SIMPLIFIED
At the heart of this solution are Iron Mountain Document Conversion Services — flexible imaging programs you can employ to digitize invoices and other accounts payable documents in a way that best fits your unique needs.
You can scan your documents on the front end, enabling you to digitize your invoices before they even arrive at your facility — and eliminate data entry and keying errors, increase accuracy and reduce costs.
Or, you can digitize your invoices on the back end, after you have processed them in house. You can send accounts payable documents to Iron Mountain to be scanned and uploaded to a hosted image archive, such as the Iron Mountain Digital Record Center® for Images.
A key component of your solution, this Software-as-a-Service (SaaS) electronic image archive leverages the power of cloud computing to give you quick, Web-based access to all of your digital records. With the help of this digital repository, you’ll be able to immediately find the documents needed to fulfill audit requests and customer inquiries — and minimize the chances of fines for lost or misplaced documents.
What’s more, you benefit from Iron Mountain’s expertise, proven best practices and patented technology, which ensure the safety and integrity of your physical and electronic records. These rigorous chain-of-custody measures bolster the effectiveness and security of your program, helping you further drive down costs and improve the protection and accessibility of sensitive financial records.