Product/Service

Accounts Payable: KeyMark Document Management Solutions

Source: KeyMark Inc.

Remittance Processing: KeyMark Document Management Solutions
Quit shuffling paper and popping Advil. Automate your AP department with KeyTrack, KeyMark's solution for Accounts Payable.

OVERVIEW
Quit shuffling paper and popping Advil. Automate your AP department with KeyTrack, KeyMark's solution for Accounts Payable. Our clients have increased productivity by as much as 298% and cut cost per invoice by as much as 64% by capturing, routing and tracking documents including POs, invoices, packing slips, correspondence and checks. KeyMark's data entry solution for invoices for Cameron Barkley won the 2002 AIIM Award for Innovative Forms. Our award-winning solution provides end-to-end automation; from the mailroom through archival and lets you track and access your documents anywhere along that line with the click of a mouse.

KeyTrack automates AP processes regardless of how you receive and process vendor invoices and bills. Whether they're mailed to a central or remote office; faxed, transmitted via EDI, or even e-mailed. We have three goals for each implementation; the first is to provide a justifiable ROI. The second is to create a high-performance workplace where employees are not relegated to mundane tasks and are operating at peak efficiency. The third is to provide a solution that will scale and grow with your company enterprise-wide.

KEY FEATURES

  • Automated paper invoice processing.
  • Automated web-based T&E processing.
  • Integrated handling of EDI exceptions.
  • Retrieve documents via network or the web.
  • Integrate to your current systems without programming.
  • Elimination of manual data entry.
  • Tracking allows real-time viewing of where invoices are in workflow and automated alerts so you don't miss out on valuable discounts.
  • Automated Exception Handling routes invoice to proper personnel to reduce the time you spend resolving problems.
  • Automated processing of payments according to business rules that you define.
  • Electronic Archival of files for audit, troubleshooting, or issue resolution and easy retrieval for years to come.

KEY BENEFITS

  • Reduce costs of processing expense reports while making it easier for remote employees to submit the reports and the supporting documentation.
  • Reduce manual data entry and the associated error rate.
  • Significantly reduce staffing requirements.
  • Improve accuracy.
  • Simplify exception handling.
  • Tracking and alerts ensure you don't miss out on valuable discounts.
  • No more lost documents – retrieve with a click of a mouse.
  • Reduce the manual effort to handle mail five-fold.
  • Remote approval capability.
  • Decreased shipping costs.
  • Improve customer service.
  • Realize an ROI in months, not years.

TECHNICAL OVERVIEW
Sample Process:

  • Automated Mail Opening opens mail and extracts contents.
  • Invoices are then prepped for scanning. Your staff can identify customer service issues and ensure those items are routed for proper handling by the system.
  • A Production Document Scanner configured for your specific needs will scan invoices.
  • Once the documents are scanned, they're routed to Automated Data Entry where the information is automatically pulled from the invoices with optical character recognition (OCR) – eliminating most of the manual keying of data.
  • After verification of the data has been completed the Automated Posting Workflow picks up the invoice and the data.
  • Data is posted to your accounting system with little or no custom programming.
  • The workflow automatically applies your rules. If there's an exception on the invoice, KeyTrack retrieves the invoice and routes it for Automated Exception Handling.
  • Once processing is complete, the invoices and any associated documents are archived digitally