Are You Taking Full Advantage of Your Document Management System?
Real world examples of the benefits of the electronic Document Management System directly from INTERAC users.
Doing More With Fewer People
Everyone is trying to do more with fewer people, and in these times, the need for efficiency is even more critical. Time spent filing, searching for documents, re-filing, and managing the boxes full of archives is time wasted. The Document Management System can dramatically improve efficiency.
- “We have benefited from DMS in several key ways. Most importantly, the time saved in the accounting process has made it possible to handle the same volume of work with 4 staff instead of 6. That is a significant savings in both time and dollars. Utilizing DMS has made it possible for each of them to remain at their desks instead of spending time at the file cabinets.”
- “Most importantly, we have implemented the new process without adding additional personnel. While the AP department was concerned about the upfront time required to attach images to all transactions, they quickly realized that the back-end savings were so great, that they now love the system.”
- “After a year’s work there were roughly 40,000 documents stored in DMS. No longer are people away from their desks trying to locate paperwork; now they are all able to retrieve what they need directly from INTERAC. In fact, all the paperwork is being shredded after it is scanned into DMS, eliminating all the time and expense of filing the steady stream of paper that flows through the office.”
Ease of Access for All Sorts of Documentation
The INTERAC Document Management System integrates with each of the core accounting applications to allow documents to be linked directly to transaction records, and also to the application’s master records.
Documents linked to transactions will follow that transaction wherever it is posted in the system. So an accounts payable invoice linked to the AP transaction will also be viewable from General Ledger or Job Cost as the transaction is posted to these interfacing transactions.
All kinds of documentation may be linked to the master records. These categories are user defined, and can easily be configured to suit your specific requirements:
– Accounts Payable links to vendor records, creating an electronic vendor file.
– Accounts Receivable links to customers, creating an electronic customer file.
– Payroll links to employee records, creating an electronic employee file.
– Job Cost links to jobs to create an electronic job file.
– General Ledger links to specific accounts to store work papers and account related documents.
- “Through Terminal Services, even the people in the remote offices are able to retrieve the documents they need, so they no longer need to interrupt someone in the accounting group to help them locate it. This has been another factor in the improved productivity of the accounting team.”
- “The DMS system allows us to easily store and recall literally thousands and thousands of W-2’s, 1099’s, brokerage statements, handwritten notes and work papers. Previously we had returned all of this information to the client and rarely retained copies because of the burden of copying and storing these documents.“
- “Area managers and supervisors are now able to review all their invoices through Job Manager, significantly reducing calls and interruptions in the accounting office. All the documentation they need is now directly accessible to them through their Job Manager connection. There is no longer any need to keep copies of everything in the field offices.”
- “All the staff began using DMS as they learned the system, so now it is second nature to look in DMS when documentation is needed. Everything is being kept in DMS, even non‐accounting related documents, because it makes them easy to store and retrieve.”
Simplify Distribution with Integrated Email Capability
Not only does the INTERAC Document Management System store documentation, it also allows you to email documents directly from the system. Emailing is an option right in the print dialog window as you generate new documents, or also in the various master record control screens. Any document in the DMS library can also be emailed directly from the Document Management System. The INTERAC system can be set to automatically send copies of check stubs to both employees and vendors.
- “The ability to email documents directly from the INTERAC applications makes it quick and easy to send backup information internally as well as to customers and vendors. This has greatly reduced the turn-around time to respond to questions and issues. Emailing also provides a record of what has been sent and when.”
Electronic Approval System
The Electronic Approval System built into Document Management is a great way to streamline the Accounts Payable invoice approval process. Each user can have their own approval system in box to which invoices needing their approval can be sent. In addition, the system will send a notification email when new documents are pending.
- “A primary goal of DMS was to enhance the accounts payable process. One of the main challenges was getting incoming vendor invoices approved for payment in a timely fashion. Frequently the project managers were not in the office or readily available to review and approve their invoices. Paperwork was often misplaced as it was routed from desk to desk. Keeping track of all this flow of paper was very inefficient. DMS remedied these issues. The Approval System has been a very effective tool in streamlining this entire process. Incoming documentation is now scanned immediately, coded with the appropriate vendor information and routed directly to the appropriate project manager for review and approval. Using the automatic DMS email notification, each project manager receives an email reminder that documents are pending. Now the AP clerk is able to monitor all the pending documents and hold the appropriate people accountable. As the invoices are approved and released, they flow directly into the AP process for payment. Project managers are now able to log into their Approval System in‐box remotely, allowing them to review and release documents 24/7. They no longer need to return to the office to access and review their paperwork.”
Streamlining Accounts Payable Invoice Approvals
- “The primary issue addressed by the Document Management System was the need to manage the Accounts Payable process at the main office in a timely fashion, while having the appropriate field staff review and approve the invoices for payment. Implementing the Document Management System eliminated the need to keep copies of the documents in the field offices, which made it possible for vendors to submit their invoices directly to the accounting office for payment. This significantly streamlined the entire Accounts Payable process. Now the accounting staff have immediate access to all the documents from within the INTERAC applications, so they never have to leave their desk to find what they need.
Multi-Office AP Processing & Approval
- Area managers and supervisors are now able to review all their invoices through Job Manager, significantly reducing calls and interruptions in the accounting office. All the documentation they need is now directly accessible to them through their Job Manager connection. There is no longer any need to keep copies of everything in the field offices.”
Avoiding Overpayment of AP Invoices
- “We’ve seen the most benefits from DMS in scanning our AP invoices. Because the invoices are scanned at the time they are keyed, any Project Manager can view the invoices at any time through Job Manager. They can compare prices and quotes from the past, check delivery dates, etc. Even though it was possible to verify this info in the past, it required walking back to AP, pulling a specific invoice and check copy and researching at that point. Therefore, seldom did anyone take the time or effort to do this. With DMS, there is no doubt we’ve saved significantly by scanning the invoice copies. The owner enjoys reviewing scanned invoice copies periodically in his down time to ensure we are receiving accurate pricing on such items as rentals, fuel, and material.”
Automatically Generate and File Check Copies, W2’s and 1099’s
With INTERAC document management, the system will automatically generate and file copies of all the checks, W2’s and 1099’s. In Payroll they are linked directly to the employee master record. In Accounts Payable, they are linked to the vendor record.
In addition to the cost of printing, the time saved in filing and maintaining paper archives can be eliminated. It also makes these documents easy to locate when they are needed. You always have the option to print a copy, if a hard copy is required.
Reduce Archival & Storage Expenses
One of the key benefits of a Document Management System is the savings that comes from eliminating the costs of managing a paper archive. When you consider the cost of printers, supplies, file cabinets and boxes, and all the space they take up, it adds up. Adding to that all the hours spent filing, searching, and managing all that paper, the actual costs may be more than you realize.
- “With a volume of about 600 invoices and 120 checks per week, DMS has eliminated five double wide file cabinets full of paperwork that no longer has to be filed and stored. This has also helped to eliminate documents that were frequently ‘lost in the shuffle’. Not only do the documents not get lost, there is no longer a need to locate paperwork in the files and then re‐file it when a review is necessary. Once it is attached to a record through DMS, it is always available to anyone who needs it.
- The Document Management System more than pays for itself every year just in man hours saved from not needing to file, locate, re‐file, and store all those cabinets and boxes full of paper.”
- “To deal with the 100 -120 boxes of AP related paper being generated every year we went live with DMS for accounts payable for all 9 of our companies. Thru the 1st 11 months we captured over 100,000 images which are available to our users through Accounts Payable, Job Cost, General Ledger and Depreciation.”
