FIVE PAPER CUTS FOR FINANCE……and six other places to tidy up the paper trail across your organisation

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)

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

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?

70% of organisations struggle to find

supporting documentation…

AIIM

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

Capture and automated- workflow technologies

are improving the payment process cycle by 50%...

INSTITUTE OF FINANCIAL OPERATIONS

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

75% of Finance departments input invoice

line items manually into the ERP system…RS CONSULTING/CANON EUROPE

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

60% of companies say that with digital mailroom, mail traceability and

compliance is much better…AIIM

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

Something has to be done about content accumulation. For 29% of organisations, the response to the information deluge is ‘buy more discs’…

AIIM

SIX OTHER PLACES TO TIDY UP THE PAPER TRAIL

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

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

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

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

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

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

WHAT TO DO NEXT

canon.co.uk/for_work

Speak to Melanie Willis on 01235 433 493 or email melanie.willis@cuk.canon.co.uk