One mutual customer, Rich Products, saved $600,000 in early payment discounts alone by using Hyland's OnBase and ReadSoft's document automation platform in their accounts payable (AP) department; learn how start-to-finish invoice automation improved their cash position in a free webinar on Thurs., Oct.1
In a newly announced partnership that covers a wide variety of applications and touches industries as diverse as healthcare, manufacturing, government and insurance, Hyland Software and ReadSoft already have several eye-opening customer success stories to share. One is particularly noteworthy because it takes place in an AP department, where up to 80 percent of invoices, by some estimates, remain paper-based. While recent developments, like electronic invoice automation, have offered hope, most "solutions" have been difficult to use, costly to manage and lacking all the right parts to make for a front-to-back product. One of the many things that combining their award-winning technologies has allowed Hyland and ReadSoft to do is to offer that complete solution.
"In a down economy, cash is king for businesses," said Bud Viancourt, director of commercial sales for Hyland Software. "And one of the best, and certainly most proven, ways to maximize cash is to better control financial operations. From capture to approval, start-to-finish, businesses can now completely automate their accounts payable processes thanks to our new partnership. This means significant savings due to early payment discounts, reduced overall transaction costs, no more duplicate payments and better management of compliance mandates. It also means that already spread thin staffs can focus more on work that really adds value to their organizations. If our early success in AP is an indicator, customers in any number of industries using a variety of applications will find success working with us."
According to PayStream Advisors, "AP departments now have to process more invoices and pay them faster, all with a smaller staff. A significant shift is beginning to shake traditional AP operations, starting with the search for automation options that help them address the hassles inherent to people and paper-based activities. In their most advanced form, imaging and workflow automation solutions combine front-end document and data capture with workflow capabilities to streamline and automate invoice receipt and approval processing."
"The technology partnership with Hyland is a key element of our business strategy as we take our success in document automation beyond just AP," said Bob Fresneda, president of ReadSoft North America. "Combining our automated document processing technology with OnBase's imaging and advanced workflow creates a formidable offering for every organizational department. At a time when staffs are being stretched to capacity, and cost savings are golden, we're confident organizations of all sizes and industries could benefit immediately by choosing to work with us. In fact, many of our mutual customers are already seeing a tremendous return on their investments."
One of those customers already benefitting from the ReadSoft and OnBase partnership is Rich Products Corporation, a worldwide supplier and solutions provider to the food service industry. To learn how Rich consolidated 19 AP functions into one, and other best practices, sign up for a free webinar. Taking place on Tuesday, Oct. 1, at 2 p.m. EDT, register at https://www1.gotomeeting.com/register/390834529.
Over 6,000 enterprises around the globe automate document processes such as data entry, document classification, information matching against ERP systems, document workflows and more with ReadSoft to achieve faster and less expensive document processing and increased control. ReadSoft has the widest experience with the most deployed invoice automation solutions. Customers include Sony, Lockheed Martin, John Deere, Pfizer, Porsche and many more. Specialized solution labs for SAP, Oracle, Microsoft and capture processes ensure cutting edge solutions with great customer value.
Since its start in 1991, ReadSoft has grown to a worldwide group with operations in 16 countries on five continents and a network of local and global partners. ReadSoft supports customers and partners in North America with offices in 7 locations, including the corporate headquarters in New Orleans, LA. ReadSoft stands for continuous innovation and takes pride in being innovators of document process automation technology. ReadSoft's vision is to free businesses everywhere from manual document handling. For more information please visit www.readsoft.com.
About Hyland Software and OnBase
One of the largest independent software vendors in the world of enterprise content management (ECM), Hyland Software is the developer of OnBase. An award-winning suite of document management and content management solutions, OnBase has a proven record of solving problems resulting from time consuming, costly and error plagued manual tasks. And because business needs and circumstances change, Hyland offers customers a choice of deployment options – on-premises or as a software-as-a-service (SaaS) – and the ability to switch between them if necessary. Installing quickly and cost effectively, OnBase is designed to grow with organizations when they're ready. Today, people at more than 8,200 organizations both large and small in 47 countries have the time to do the things that really add value thanks to OnBase. For more information, visit www.OnBase.com.
SOURCE: ReadSoft And Hyland Software