Five paper cuts for finance and five other ways to tidy up the paper trail across your organisation
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Transcript of Five paper cuts for finance and five other ways to tidy up the paper trail across your organisation
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FIVE PAPER CUTS FOR FINANCE……and six other places to tidy up the paper trail across your organisation
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Despite the ready availability of simple scan-based processes,
such as employee expense claims, 23% of organisations still have no paper-free processes...
ASSOCIATION FOR INFORMATION AND IMAGE MANAGEMENT (AIIM)
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HOW AUTOMATION HELPS THE FINANCE FUNCTION – AND THE REST OF THE ORGANISATION…• Finance• Reception and mailroom• Marketing/
customer service• Operations
• Management/ workforce
• HR• Logistics/
supply chain
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BETTER FINANCE PROCESSES
Information and process visibility
• Get an end-to-end view of workflows and approvals
• Find and fix the sticking points- Rekeying documents- Manual signatures- Paper storage – time lost looking for documents
• Getting information flowing smoothly- Share documents easily- Enforce version control- Simplify approvals – who’s holding things up?
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70% of organisations struggle to find
supporting documentation…
AIIM
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BETTER FINANCE PROCESSES Accounts Receivable• Faster payment cycle
• Fewer bad debts
• Invoice creation – create invoices faster than ever
• Automate e-distribution – reduce billing errors
• Reduce filing and storage
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Capture and automated- workflow technologies
are improving the payment process cycle by 50%...
INSTITUTE OF FINANCIAL OPERATIONS
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BETTER FINANCE PROCESSES
Purchase-to-Pay• Cut invoice processing times
• Alerts for errors and inconsistencies- Avoid over/under payment
• Reduce late payment penalties
• Avoid costly invoice disputes
• Better visibility of penalties and discounts
• Easier cashflow management
• Mobile payment approvals
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75% of Finance departments input invoice
line items manually into the ERP system…RS CONSULTING/CANON EUROPE
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BETTER FINANCE PROCESSES
Compliance
• Protecting confidential documents- Prevent opening/copying by
unauthorised users
• Secure storage, in line with regulatory requirements
• Audit trails- Replace complex paper processes with
quick, efficient digital audit trails, visible from end to end
• Rapid archiving and retrieval
• Lower costs of compliance
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60% of companies say that with digital mailroom, mail traceability and
compliance is much better…AIIM
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BETTER FINANCE PROCESSES Archiving/storage• Add indexes to documents for full-text
and meta-data search
• Assign access rights to view, edit, print or distribute information
• Reduce costs by storing documents electronically
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Something has to be done about content accumulation. For 29% of organisations, the response to the information deluge is ‘buy more discs’…
AIIM
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SIX OTHER PLACES TO TIDY UP THE PAPER TRAIL
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WHERE ELSE TO LOOK
In the mailroom and at reception
• Better management and sharing of information
• Fast scanning of letters, invoices, and other documents
• Route them faster to the right people
• Automate entry of digital documents into different systems
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WHERE ELSE TO LOOK
In marketing and customer service
• Scan paper forms and automate entry of digital forms
• Automate customer onboarding – registrations, membership applications, contracts, pricelists
• Improve response times to increase customer satisfaction
• Print and despatch high-quality customer communications in-house
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WHERE ELSE TO LOOK
In operations
• Automate information flows
• Better productivity
• Accelerate request and approval workflows
• Reduce floor space wasted on paper storage
• Find things faster
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WHERE ELSE TO LOOK
Among management and the workforce
• Consolidate and centralise storage and access to documents
• Timely, accurate management reports
• Better collaboration and file sharing
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WHERE ELSE TO LOOK
In HR
• Scan and archive policies, contracts, holiday forms, sickness forms
• Find them again easily
• Cut down manual entry and processing
• Secure storage of confidential documents
• Reduced paper storage
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WHERE ELSE TO LOOK
In logistics and in the supply chain
• Scan and store delivery notes, despatch notes, returns documents
• Faster updates and status reports
• Store less paper, spend less time searching and auditing
• More time on the road, less time filling forms
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WHAT TO DO NEXT
canon.co.uk/for_work
Speak to Melanie Willis on 01235 433 493 or email [email protected]