AP Department Reduces Invoice Processing Time by 70%

We reduced our processing time overall, by 70%. That is a savings of almost 90 hours per month in processing time.

The Problem

The problem at this Midwestern company was not an uncommon one. The business, having expanded rapidly over a short period of time, was experiencing the same growth problems as other companies their size. Hard working and talented personnel were beings pushed to the brink in daily task, due to the multi-tasking which many companies implement today. The accounting department was accomplishing many things, but falling behind in billing and collecting monies, because of the rapid growth. Processing between 2,000-3,000 invoices per month, they needed to reduce the per person time used for inputting data into their back office system. If they could accomplish this and increase their efficiencies, the company would be in a much better position for further growth.

Solution Requirements

Through many discussions, they determined they needed a system that would not only reduce the amount of human hours to extract the data, but it also needed to automatically write that information into their back office systems. Their main repository for financial information was Yardi and scanned images would be placed in their document management software.

The PSIGEN Solution

The requested extraction of data was accomplished by PSIGEN via the classification and table extraction technologies in PSIcapture. These pieces allowed for a single person to handle the workload of extracting data and having that information written to the Yardi and document management systems with a push of a button. The documents were scanned by personnel, but then they were automatically classified, and the AP data and indexes were extracted and written to Yardi, all by PSIcapture. This allowed the two systems to interact seamlessly to write the appropriate data to correct locations. The images were sent, along with some simple indexing information, to their DMS for long term storage and retrieval.

Conclusion

“We reduced our processing time overall, by 70%. That is a savings of almost 90 hours per month in processing time.” The company did not want to reduce the number of employees, although they could have elected to have more productive employees and therefore designed and deployed more competitive offerings to their customers. More work done, for lower cost, while processing faster, and creating happier employees and customers; truly a win for everyone.

Contact us to learn more about AP invoice processing automation and PSIcapture

PSIGEN Software

PSIGEN Software

Work the Way You Want. We specialize in Document Automation, Workflow and Management solutions that positively impact your bottom line.

Leave a Reply

PSIGEN Software

Work the Way You Want. We specialize in Document Automation, Workflow and Management solutions that positively impact your bottom line.

Recent Posts

Follow Us

Weekly Tutorial

Sign up for our Newsletter

Click edit button to change this text. Lorem ipsum dolor sit amet, consectetur adipiscing elit