Traditional paper processes and manual operations often block a company’s path to agility. Costs are recorded late, approvals take too long, and processing steps are not transparent.
Documents and critical information about transactions can be lost across multiple storage areas, and not connected to data in the ERP and Accounting systems.
AMS helps companies to overcome these limitations by introducing an automated finance solution. With a central source of document control and process automation. Information is available to users within a few clicks, managers can see everything that’s going on in each workflow, and data in other applications can be matched to the corresponding documents.
Components and Features
Connect to Outlook and Connect to Mail allow users to store Invoices and related documents direct from email. DocuWare Import can monitor a folder capture documents from a network folder and pass the documents for automated indexing using zonal OCR, or pass the documents to the Intelligent Indexing tray to OCR and capture index information using the AI engine. Once the invoice is stored, the index information from the invoice can be matched to other documents stored in DocuWare, or an external data source
Depending on the outcome of the matching and validation of the invoice, the Workflow Manager can use rules to route the invoice to the correct person for authorisation. If there is an exception triggered, DocuWare could automatically email the supplier, for example to fill out a new supplier onboarding form, or notify an internal user/team so that they can check the invoice and take the appropriate action.
Authorised users are emailed to notify them that an outstanding invoice requires their approval. The approvers can then stamp the invoice with the relevant actions or decision such as Approve or Reject, and add comments or annotations if they want to provide any supporting information. These actions can be performed on any device through a web browser, or using the DocuWare mobile app for IOS and Android.
Once an invoice has been approved, the Accounts team can be notified through the Workflow Manager that the payment is ready to be processed. Information entered by the processor, along with index information from the invoice, can be Posted Back to another system to complete the cycle, and mark the invoice as paid.
Submitting requests for equipment, supplies, and stock can be a lengthy process and often delayed when the relevant parties involved are in different locations.
Delays in authorising a purchase request mean the need of that person, or department takes longer to be fulfilled and can have a knock-on effect to other areas of the business.
DocuWare can provide an easy and automated finance solution to manage the Purchase Requisition workflow, notifying the relevant parties immediately regardless of location, and linking the corresponding invoice to the PO and PO request.
Components and Features
Instead of sending a printed request, or email to a manager, AMS offers an electronic and online way to raise your purchase request. Using DocuWare Forms users can fill out a web form detailing their purchase request. Once submitted the request will create a document in DocuWare and trigger a workflow. If companies prefer, they can use templates such as Excel Spreadsheets or Word Documents, and print to the DocuWare Virtual Printer. Again, like the on line form, the document will be stored in DocuWare, and trigger a workflow.
Once the workflow is triggered, DocuWare will check who the authorisers are for that user, and/or based on the type of purchase request. Rules can then be applied such as the value of the purchase request, and a decision made as to who can approve the request. The authoriser is then notified via email that an outstanding request is awaiting their approval.
The approvers can then stamp the invoice with the relevant actions or decision such as Approve or Reject, and add comments or annotations if they want to provide any supporting information. These actions can be performed on any device through a web browser, or using the DocuWare mobile app for IOS and Android.
Once a purchase request has been approved, the Accounts team can be notified through the Workflow Manager that the order to the supplier can be raised. The requester can be notified that their request has been approved and is currently being processed. The request, and subsequent PO can be stored in DocuWare for future reference, and matching against the invoice when received.
What are you trying to achieve by implementing an automated finance solution?
Save time
AMS can help establish where an organisation can achieve the greatest gains in their processes, and suggest how DocuWare can be used to free up time for users and managers to spend on more productive tasks. Time spent filing documents, time spent looking for documents, and time spent recreating documents that have been lost.
Reduce Paper
Printing costs money, uses electricity, and requires storage space for filing cabinets, folders, and archive boxes. With space at a premium, and companies looking to reduce their environmental impact, reducing paper creation and storage requirements is a key part of most of our document management projects.
Improve supplier relationships
By automating tasks and workflows, invoices can be turned around quicker to ensure payment commitments are met and maintain good supplier relationships. By making it quicker and easier for users to find documents, they are able to provide more accurate and immediate information when handling inbound queries.
Automate processes
In most businesses there are bottlenecks such as requesting authorisation from someone who isn’t in the same location, or delays in getting a document to the appropriate person. By automating processes and workflows, users can access documents and provide approval regardless of location, and receive notifications immediately that there is a task requiring their attention.
Provide greater visibility
It can be difficult to see what’s happening for most organisations, and knowing which invoices require approval, and where they are in the process is a key part of an efficient Accounts Payable process. DocuWare provides a way for authorised users to ‘Monitor Tasks’ to see where each invoice is in the process, and who that task is assigned to. DocuWare also has an option to reassign a task that is stuck in a workflow, to another users.
Improve security and compliance
Data Protection, GDPR, Information Security, are key responsibilities of any company. Managing access to information and providing an audit trail to see how that information is being used is extremely difficult. DocuWare provides a centrally controlled document pool with configurable permissions to prevent unauthorised access. All actions are recorded with a full audit trial, and the ‘Full Text Search’ facility means that it’s easy to find keywords such as a person’s name, across multiple storag …
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