Automating document workflows is the process of taking your paper-based documents, making them digital, and automating common tasks. This can have many benefits across your organization, but some of the biggest benefits of workflow automation can be seen in paper-heavy departments like Accounts Payable and HR.
- Speed and accuracy – Automated workflows allow for increased speed and accuracy. Invoices can be tracked electronically, and manual data entry is eliminated with its inherent human errors.
- Extraction of high-value data – Automated document management can take invoices via fax, email, and paper documents and transform them into digital information, automatically routing them into a database for easy extraction. Once in the database, you can quickly and easily extract specific data.
- Three-way matching – Three-way matching is essential for improving invoices. Automated management can do this for you, analyzing invoices, purchase orders, and packing slips to make sure everything lines up. Once the match is confirmed, the invoice will be automatically routed for final approval.
- Automatic document routing – Rather than go through a time-consuming process of manually walking a document to the next person in the chain for approval, automated systems can do this for you. As the document progresses, it gets automatically sent to the person or people who need to access it next, making sure it keeps flowing for smooth and prompt approval.
- Data sharing – Automated document management doesn’t mean giving up the software you already use and know. Rather, it can be integrated directly into your existing systems. As data is extracted, it is pushed into your current software, making sure the data is synced, eliminating duplicates and ensuring everything is streamlined and easy to use. This saves time and money, while eliminating errors.
- Regulatory compliance – Staying in legal compliance is essential, and mistakes are costly. Digitizing documents reduces human errors, while also maintaining a paper trail for reference if you need it down the line. While improving efficiency, automation also helps make sure that all regulations are met so you stay in compliance.
Automated document management can change the way you handle your data. Rather than relying on manual data entry and time-consuming processes, automation can route documents to the right people, extra valuable data, and confirm your purchases quickly and easily. The benefits of automation can be seen immediately, and pay out in returns in the long term as well. Give us a call to learn more.
