Articles
Saving Big In Healthcare With Modular ECM System
January 29, 2008
•White Paper: Saving Big In Healthcare With Modular ECM System
The first project implemented at Bronson was automating the processing of 120,000 multi-page invoices a year in Accounts Payable. KeyMark's solution accommodates both paper and Electronic Data Interchange (EDI) invoices for posting to McKesson Pathways Financial Management (PFM). Workflow has significantly reduced handling of non-exception, PO-driven invoices and significantly improved exception processing and other activities. The EDI feed is imported into the system and paper-based invoices are scanned.
Using Application Enabler, indexing values are automatically populated with data from PFM. If an invoice is PO-driven and the amount matches the entry in the General Ledger, the payment can be automatically posted. Based on pre-configured business rules, exceptions are routed to the appropriate person. Workflow manages the entire process for reconciling and approving exception invoices. The solution has reduced AP staffing costs while improving the ability to collect early-pay discounts and avoid late payment penalties. "But the biggest benefit is the reduction of phone calls to the Finance Department," asserts Moore. "The ability for managers to access documents themselves has been a positive for both managers and finance."
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