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 Receivable Issues

That collecting payment for goods and services delivered by your organization is a critical business process goes without saying. That the key to securing cash in a timely manner and maintaining DSO within your target range can sometimes rely on finding and presenting a single piece of paper makes it a critical issue. When customers question an invoice, want additional backup or require proof of delivery, you may not find out until the invoice is already past due. Time is now working against you when collection means looking through paper files for supporting documents, making copies to mail or fax and attempting to reach that Accounts Payable representative on the telephone again to follow-up with answers to their questions.

Supporting collection efforts with paper documents leaves you with known difficulties:

• Requirement to “leave the desk” to locate documents from the files
• Lost productivity to copying, mailing, faxing and re-filing documents
• Time lag in receipt of supporting material by the customer
• Challenging “call backs” to reach the right representative, “on your dime.”

DataBank Accounts Receivable Solutions

We help our customers operate and collect more efficiently and faster by replacing any manual record-keeping in Accounts Receivable with our outsourced services and enabling technology.

You can streamline collection activity and eliminate common paper-related delays by having DataBank secure your customer purchase orders and related order backup (proposals, pick lists, shipping manifests, etc.), BOL’s and any other proof of delivery documents and convert them to digital images through our SAS 70 Level II certified (pending) operation centers. Customer invoices are received as a digital print file and archived as individual documents and the entire transaction record is associated in the image management system.

Use DataBank Online Services as your image repository where the finance team, collectors, etc. can instantly retrieve all of the original documents; order, delivery receipt and invoice, etc. with simple mouse clicks right from YOUR system screens. Should a customer representative request an invoice copy, backup documentation or a proof of delivery—just click your mouse to send the document via e-mail so that you can review it together while on the FIRST call. Access your aging reports from the system and the supporting documents can even be accessed as a cross-reference from the individual report line items!

To further reduce time lag and postage costs to deliver paper invoices, customers may use DataBank Online Services as your electronic invoice distribution solution. Customer invoices may be directly e-mailed, or customers can be sent a link to follow to secure their invoice—where you have an audit trail of its receipt. DataBank can print/mail the balance for you as required. Our systems engineers will configure an Accounts Receivable workflow lifecycle that fits the way you process orders, bill and collect, integrated with your ERP/Financial System.

Benefits of DataBank Account Receivable Solutions

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

Document Scanning-Indexing for Accounts Receivable

• Avoid paper handling or any filing in the department
• Eliminate lost, misplaced documents
• Process invoices generated into the system without scanning, automatically indexing them (COLD/ERM)

Image Management for Accounts Receivable

• Link all related documents to your order-invoice transaction
• Enjoy on-demand retrieval from your system screen
• Deliver documents via e-mail, etc. on-demand
• Record a complete audit trail (notes, annotations) on the images of your discussions with the customer
• Ensure control over receivable records and manage document retention electronically
• Customer Invoices
• Customer Purchase Orders
• Proposals
• Contracts, Agreements
• BOL’s
• Proof of Delivery
• Aging Reports

Work Process Automation for Accounts Receivable

• Automatically process “printed” invoices and reports into the image management system
• Distribute invoices electronically via e-mail, or provision of secure link (timed and tracked)
• Outsource remaining invoice print/mail
• Cross-reference supporting documents to aging reports for call list support

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.

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