At Office Interiors we recently completed the transition, using Square 9, from a manual paper based accounts payable workflow system to capturing and processing all of our vendor invoices electronically. Square 9 is the developer of highly intuitive, award winning document management software that can be easily adapted to automate any paper intensive process sold by Office Interiors. To provide some perspective we process approximately 1,000 vendor invoices each month. Working with our suppliers we now receive approximately 80% of these documents electronically. Of those documents, 75% are routed directly into Square 9 where they are indexed to capture key vendor information and then diverted into the appropriate queue for processing into our ERP system. Indexing allows the easy retrieval of the documents at a future date, if required. The approval process is all done electronically through notification to the appropriate people via email. All documents reside within the software and at no time are paper copies circulated for approval or processing. Once a vendor document is posted, to our ERP system, it is safely stored in our Electronic filing system for future reference.
Some of the key benefits of implementing this system are 1) Invoices no longer go missing which can lead to payment issues, 2) The volume of physical mail received has been reduced drastically freeing up reception time and translating into cost savings to our vendors, 3) the approval process has been significantly enhanced and streamlined, 4) We will experience cost savings having eliminated the need to print copies for our files, 5) Retrieval of documents is extremely easy and more reliable, eliminating the need for long term storage to meet legal requirements.
Chief Financial Officer
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