Finance & Accounting

Accounts Payable
Accounts Receivable
Procurement
Tax

Human Resources

Benefits Administration
Payroll
Pension Administration

Legal

Records Management
Governance, Risk and Compliance
E-mail Archiving

Accounts Payable Issues

Managers intuitively recognize that “operating efficiently” and “manual paper-intensive process” will rarely be found in the same sentence. Trying to manage supplier payments, expense reimbursements and vendor maintenance on paper is both difficult and costly. When documents are not available during processing it means lost time and effort, and when they are difficult to locate after processing, it can mean unwelcome audit findings. Accounts Payable professionals have increased responsibility for ensuring process and record integrity in support of corporate compliance initiatives. Further, as with most managers of back office processes, we are asked to do more (work) with less (people).

Handling paper invoices, expense reports, W-9’s, etc. brings with it known challenges:

• Potential for lost, misplaced documents
• “Chasing” down invoices sent for approval within the organization
• Unknown status to support vendor relations calls
• Added cost of copies, mail, fax, etc. to distribute information
• Lack of visibility to open liability at closing
• Distraction and extra hours to support audits

DataBank Accounts Payable Solutions

We help our customers operate efficiently and at a reduced cost by replacing the manual paper-intensive processes in Accounts Payable with our outsourced services and enabling technology.

You can streamline payment processing and eliminate common paper-related bottle-necks by having DataBank receive your invoices, expense reports, etc. by mail, fax, e-mail, etc. and convert them to digital images through our SAS 70 Level II certified operation centers. Use DataBank Online Services as your image-enabled processing system handling the entire coding, matching, approval and auditing effort. Our systems engineers will configure an Accounts Payable workflow lifecycle that fits the way you want to work, integrated with your ERP/Financial System. Your solution can readily incorporate e-invoice receipts and leverage e-forms for internal documents you create today to further reduce paper requiring imaging.

After payment, retrieve all of the original documents (invoice, purchase order, cancelled check, etc.) with simple mouse clicks right from YOUR system screens. Access to your entire transaction record, completely cross-referenced, is available on-demand for customer support/vendor relations, research and audit support.

Benefits of DataBank Accounts Payable Solutions

Our solutions will allow you to eliminate the known challenges of working with paper resulting in measurable efficiency gains and cost reductions. The list of benefits and advantages from our offerings includes:

Document Scanning-Indexing for Accounts Payable

• Avoid mail, paper handling or any filing in the department
• Eliminate lost, misplaced documents
• Improve quality of data entering your systems
• Receive e-invoices and invoices by fax and e-mail
• Use electronic forms for vendor setup/maintenance

Work Process Automation for Accounts Payable

• Automatically route documents for coding/approval by your business rules
• Establish approval (tiers) based upon signature authority
• Address exceptions with a pre-defined or ad hoc approach
• Match invoices, purchase orders, etc.
• Escalate invoices where desirable discounts can be taken
• Integrate vendor setup, changes with payment processing
• Audit expense reports for compliance with travel policy
• Report on your “in-process” liability at month end
• Review a comprehensive audit trail for the life of the record

Image Management for Accounts Payable

• Link all related documents to your payment transaction
• Enjoy on-demand retrieval from your system screen
• Ensure control over payment records and manage document retention electronically
• Invoices
• Expense Reports
• Check Requests
• Purchase Orders
• Contracts
• W-9’s
• Vendor Maintenance Forms

Contact a DataBank Expert
To learn more on how DataBank can help you manage your documents more efficiently, lower your operating costs, and improve your organization’s access to information in a highly secure environment, contact us today.

DataBank Receives
SAS 70 TYPE II Unqualified Opinion READ MORE

Bob Zagami (General Manager,
New England) becomes Chair of the AIIM International Board of Directors READ MORE

Verizon Business recognizes DataBank's Network Solution
READ MORE

Paperless Court System in Garland, TX Receives National Recognition READ MORE

Digitech Writes About
DataBank READ MORE

National Document Scanning Company Expands Chicago Operations READ MORE