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Accounting Solutions
by ITCS, LLC
AP / AR Processing
Accounts Payable and Accounts Receivable processes are easily improved and perfected with the ITCS Document Management Solution. ITCS as a cost-effective document management solution is being recognized as an imperative part of the invoicing process. Smaller companies and departments are now able to realize the benefits of a document management solution, which gives the SMB market a quick, effective Return on Investment.
Recognized AP / AR Invoice Processing Benefits Include:
Shorter invoice processing times
Use of ViewWise Workflow results in improved internal process and time savings
Reduced costs while removing clutter
Improved customer service with access and distribution
Improved security
Improved compliance
Quicker approvals
Faster collections
ITCS accomplishes this without increasing the budget. ITCS provides features and functionality, ease of installation, and most importantly scalability without the large cost to make sure your business is running right!
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AP - Automated Invoice Processing (AIP) Solution
ITCS has created a complete "AP - Automated Invoice Processing Solution" that includes the following:
Eliminate all mail handling labor & immediately upload digitally received invoices
Reduce data entry costs & errors
Ensure early payment discount receipts/Eliminate late payment fees
Eliminate overpayments and duplicate payments
Ensure better process controls, higher regulatory compliance
Reduce vendor invoice tracking time
The following is a sample of a "AP - Automated Invoice Processing Solution" Workflow:
Starting with either scanning and recieving faxed invoices into the "AP - Automated Invoice Processing Solution".
Using a BEST recognition software to identify each Invoce and apply a template.
This recoginition software will then use a Character Recognition Engine to collect the data.
Then the Verifier validates the data prior to uploading.
Then our Enterprise Document Management Solution (DMS) stores the invoices and associated indexing data for Workflow and Retrieval.
Then the DMS workflow routes each invoice for approval to be paid.
When approved, each invoice will be routed back to appropirate AP staff for revue prior to being uploaded to your accounting software.
Then the DMS will automatiaclly upload data into your Accounting System Software to be processed during it predermined time.
After the Accounting Software has processed, the DMS will then automatically retrieve the processed invoice data and updates the DMS invoice records.
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