ECM Connection is excited to bring you another exclusive guest series — The Real World Of Cloud ECM. In this series, H.K. Bain, CEO of Digitech Systems, profiles real users of cloud content management in a variety of vertical markets. You'll learn what to look for, what to watch out for, and what key areas can create considerable ROI.
Part 2: A Surprising Technology Shift Streamlines Accounts Payable
Many companies are still struggling to find better ways to manage financial data, and chances are, you're one of them! Would you like to convert to electronic records, streamline accounting processes, and reduce the overall cost of managing financial information? Enterprise content management (ECM) systems are a great place to start.
Why Is This [Document Management] Still So Hard? By Mark Palmer, Invu
For the organization already struggling with escalating pricing and new competition, it is a
tough blow. But, to be fair, most CEOs and CFOs are already highly aware of the business cost
associated with retaining paper processes. However, despite the adoption of ERP systems, with
automated purchase order production, emailed invoicing and remittance advice, the vast majority
of midsized businesses are still reliant on slow, paper-based order and invoice processing and
reconciling delivery notes with orders, and they have no robust processes for tracking and storing
ad hoc documents.
The best ECM solutions deliver applications at the departmental level that integrate content management invisibly within the process of collaboration. The transparent combination of content and collaboration benefits organizations tremendously by providing a place where simple ideas take root, are nurtured and finally mature into market-leading innovations. It is a critical point and one that we will explore in detail in this book.
The usefulness of information is directly tied to how easily it flows throughout your company. So when a record is maintained by a sole custodian, exists in a single physical copy or resides in a lone department, it can create bottlenecks that slow response times, delay billing cycles and make it difficult to distribute the necessary information in a timely manner.