The Business Exchange Swindon & Wiltshire April/May Edition 2015 | Page 18

TECHNOLOGY Is inefficient invoice processing damaging your business? YourDMS, Swindon based providers of bespoke document management solutions, are urging businesses to take a step back and really think about the processes they use when they receive, check and pay purchase invoices. “From the point the accounts department receives an invoice, to the point that it is paid, how many different processes does it go through? How many different members of staff have handled each invoice?” asks Stewart Wright, managing director of YourDMS. “It seems completely impractical when you consider that some accounts departments are creating a process for approving and paying invoices, with a minimum of 12 steps and 3 touch points, for every single invoice. Extracting data from invoices whether paper based or electronic, remains a time consuming and largely manual process. Imagine the amount of work it creates for a company processing thousands of invoices every month.” Traditionally, accounts staff will check every single invoice to find the ones that contain an anomaly, usually around 20%. The YourDMS automated Invoice Processing Solution streamlines the process into 3 simple steps – scan the invoice, extract the data, pay your supplier. Integrating with existing in-house Finance/ERP systems, invoice data is captured, recognised, interpreted and processed with little or no intervention. Invoices that have the correct information can be automatically approved and paid, and only the ‘problem’ invoices need human intervention, typically 1 in 5. With an optimised workflow, businesses can reduce loss and delays at every stage of a process, saving businesses time and money, and greatly improving accuracy and efficiency. YourDMS customers who are already reaping the benefits of automated Invoice Processing include Pets Corner, Hidden Hearing, Freshways, Healthcare RM, Gwalia Housing Association, Fileturn Construction, Bath Spa University, and many others. If you would like to find out more, YourDMS have organised three more of their popular ‘BRING YOUR OWN INVOICES’ seminar events to demonstrate their smarter, faster, streamlined approach to invoice capture and processing. Come along and see how quickly the Invoice Processing system can extract the data from all of your invoices – you won’t be disappointed! The seminars will be held in Swindon, Bath and Salisbury during May, June and July and are free to attend, without obligation. Book your place today by calling 01285 810606 or email [email protected] www.yourdms.net ESCAPING THE MAGIC OF TECHNOLOGY Systemagic’s MD James Eades recently took part in #unplug, the National Day of Unplugging – he explains why … “When I took part in 24 hours without technology voluntarily – my wife was convinced I wouldn’t manage it and a couple people even said it goes against everything I promote in business. “I’d first heard about the #unplug concept last year and vowed to take part in 2015, for several reasons: 1. I was genuinely interested to find out exactly how deep a role technology and being connected plays in my day to day life. 2. I wanted to remember what life was like with no internet connection, and no instant access to information. 3. I wanted to know what it might teach me about the advice I give to others through Systemagic. So, at 10pm on Friday 6th March I switched off my phone, iPad, computer and laptop for 24 hours. How did it go? I actually loved the experience!?! Far from itching to pick up my phone or tablet I found it took all of an hour in the morning to realise I actually don’t need to know what everyone else is up to on social media or who might be trying to contact me. Admittedly it felt odd not waking up and reaching for emails, Twitter, Sky News and internet forums but it didn’t feel at all like an itch that needed scratching. Probably because this particular day was a novelty, and I have a baby daughter who is always happy to receive extra attention – as well as a new motorbike in the garage waiting to be ridden in the spring sunshine. 18 THE BUSINESS EXCHANGE 2015 There were a couple times during the day when I did have an “oh yeah, I can’t use the internet” moment – but for practical reasons rather than anything else. A car tax letter arrived in the post but of course that needs the internet to purchase and later I wanted to check the weather forecast which now needed to involve figuring out the BBC’s complicated red button service on TV instead of loading up the Met Office app. Before I knew it we were into Sunday and the devices got switched back on. My phone immediately lit up with missed text messages and notifications but nothing significant had happened. I’m quite clear on what the whole #unplug experience has taught me, and in fact I’m currently considering making it a weekly occurrence. Switching off reduces stress – as you realise you feel stressed about silly things which can wait! So my final thoughts on the exercise: 1. Once I was back in touch with the world, it took at most ten minutes to flick through social media to catch up. 2. I noticed the day seemed longer and I had time to do things I usually would say I was too busy for, like reading a magazine as well as some chores I “hadn’t had time for” for weeks. 3. Technology is brilliant