OnBase

Cost reductions, efficiency gains and resource optimisation are just some of the concerns in any department in any organisation; none more so than in the Finance Department, where there are a number of ways to increase organisation, communication and achieve a more effective use of manpower.

Take Accounts Payable as an example. If done manually, this process can be time-consuming, complex and a burden, posing a number of challenges, from errors when entering data in accounting systems, to the costs associated with document shipping and storage. Automating this process will inevitably lead to more efficient working practices, with the added benefit of cost reductions. Not forgetting the reduction in paper, time savings, and increased security in proper invoice management.

This process of automation can be also applied to the Accounts Receivable process. If there are too many unallocated payments, an automated solution will help to achieve a clean sales ledger, more effective credit control and more accurate and actionable management information. With every-day reconciliation, you will have a less stressful month-end process and you won’t waste time chasing invoices that are already paid. Errors are minimised and relevant documents are stored electronically, making audits far more straightforward.

Month End closing processes are also frequently complex and time consuming. A faster close process, with increased accuracy and efficiency, should be a goal for any organisation. Eliminating omissions, improving speed and identifying redundant processes is possible through a financial reporting solution. There will be no more inadequately documented policies, wasted time and missed deadlines due to unplanned activities. With an optimised close process, companies can reallocate resources to more value-adding activities.

These solutions are not a substitute for your current systems – they work along with existing infrastructure to further hone processes. Automating functions in a finance department can help underpin the organisation as a whole and often acts as a driver to re-assess processes in other departments.

Want to find out more?

ProcessFlows will be hosting a free of charge event to demonstrate how we can assist in cost savings and streamlining your Finance department. The event will take place on February 29 at the Faraday Room, IET London, 2 Savoy Place, London, WC2R 0BL. To register, please click here.

With loss of data by organisations featuring in the news more and more frequently, it begs the question … how do you manage your data?

It was recently announced that 132 local authorities have admitted to losing sensitive data in the past three years.

Buckinghamshire County Council and Kent County Council were the worst offenders, each acknowledging that 72 data loss incidents took place between August 2008 and August 2011.

Some incidents were more serious than others and at least 35 councils lost information about children in their care. (http://www.computing.co.uk/ctg/news/2127193/loss-epidemic-uk-local-authorities)

Using ProcessFlows’ document management solutions, you could help to make sure that your data is much more secure. Our OpenText Alchemy and OnBase solutions have secure document repositories and information stores with Credential Management Systems, meaning that staff are only given access to what they’re allowed to see.

Please click here to see how Rochdale Metropolitan Borough Council used our document management solutions to not only improve the security of their documents but also;

• Import approximately 500,000 planning & building control files containing letters, maps and photographs into the system – meaning they were safe from damage or loss
• Reclaim prime office space previously used for more than 30 cabinets of planning files, taking up two entire rooms
• Gained a Return on Investment within the first 12 months
• Achieved Government ‘best value service targets’, aided by access times to documents being reduced from 30 minutes to less than five seconds per document

If you would like any more information on how ProcessFlows could help your organisation become more efficient at managing your data, please contact us on 01962 835053 or email enquiries@processflows.co.uk.