How to Cut Processing Time by 75% for Any Business Process
Sean Parnell – Tuesday, June 25, 2013
Business Process Profitability Any CFO Would Love from ISSI
Once executive leadership has visibility into their business processes to understand structure and bottlenecks, our document management and workflow solutions can cut processing times and costs by up to 75% by:
- Scanning incoming paper documents, mail and backfiles
- Extracting data from incoming documents utilizing optical character recognition (OCR) and other advanced recognition technologies
- Integrating document capture with ERP, accounting and other back-end systems
- Workflow automation software that routes incoming information to those needing to process it
- Document management software to govern access, search and version control
The Result: efficiency increases of 300%.
Exhibit A: Invoice Processing
We can cut the time it takes to process an invoice from an average of 16 days to a matter of hours. This typically cuts the cost from $17 per invoice to under $4.
Organizations like Williams-Sonoma, Delta Airlines and Charlotte-Mecklenburg County have utilized our content management systems and professional services to streamline and automate a wide variety of business processes, especially accounts payable.