Prepares to Assist Companies that are Automating Accounts Payable (AP)
Greenwood Village, CO – March 22, 2016 – Several Digitech Systems employees have recently become Accredited Payables Solution Consultants (APSC), a certification offered through the Institute of Finance and Management (IOFM). The designation further prepares the company to assist businesses that are trying to achieve AP automation.
According to IOFM, more than 80% of invoices in the United States are still being processed on paper, which is costing businesses billions of dollars each year. They further explain that businesses can reduce the average cost of processing each invoice from $11.76 to just $5.46 (a 53% cost reduction) simply by going digital.1
Digitech Systems’ ECM suite of products is ideally suited to help companies transition from paper invoices to digital automation. PaperVision® Capture converts paper documents to digital files and PaperVision® Forms Magic™, an artificial intelligence engine within PaperVision Capture, can then automatically sort invoices into categories and extract business information such as invoice amount, date, and vendor details, which can be sent to an accounting application like Microsoft® Dynamics GP, SAP®, or Oracle®. Electronic invoices can then be routed through approvals and payment processes more quickly and cost-effectively while simultaneously reducing accounting errors.
The APSC certification demonstrates Digitech Systems commitment to understanding AP concerns and indicates that we are trained to design and provide technology solutions that help solve AP challenges.
“Though many areas of business have become digital, AP is traditionally slow to adopt digital records and automation,” says Sean Morris, Director of Sales. “We pursued the APSC certification through IOFM because we wanted to better understand the challenges faced by the CFOs, AP managers, and company accountants who oversee this function. We are now better equipped to help companies that are pursuing AP automation to achieve their goals while improving processing efficiency, ensuring control of sensitive financial data, and helping them to save money on accounts payable.”
About Digitech Systems, LLC.
Digitech Systems, LLC enables businesses of any size to more effectively and securely manage, retrieve and store corporate information of any kind using either PaperVision® Enterprise content management (ECM) software or the world’s most trusted cloud-based ECM service, ImageSilo®. By significantly reducing the cost, Digitech Systems has moved ECM from a luxury convenience to an essential element for every well-managed business.
Digitech Systems continues to raise the standard of excellence in the ECM sector, as evidenced by the numerous awards they have received including the InfoWorld 100, CRN’s Emerging Tech Dynamos and multiple Nucleus Research ROI Awards. In addition, Buyer’s Lab has recognized both PaperVision Capture and PaperVision Enterprise as the best products in the enterprise capture and ECM fields. To learn more about the company’s software and services that deliver any document, anywhere, anytime®, visit www.digitechsystems.com.
1 IOFM (2013) The Accounts Payable Certification Program. 44