Archive for May, 2014
We recently exhibited at IFO’s FUSION 2014 Conference. During the event, EVP Pat Myers and SVP Phil Robinson gave a presentation entitled, “Breaking Down the Barriers to ECM Adoption.”
While true cost per invoice may vary significantly per organization, including differences in how this cost is calculated, virtually every report has shown this cost can be substantially reduced though invoice automation systems – up to 80% in some studies. So with the potential for such enormous cost savings, why hasn’t every company adopted an invoice automation system? In this presentation, we’ll examine the very real “why nots” that are barriers to adoption, and how to break them down. These objections include:
- Inbound invoices come from a wide range of sources (paper, fax, email, electronic data interchange or EDI). There’s just not a system that fits for us.
- Every invoice is different, and a system can’t possibly understand the variety of invoices we receive.
- My business rules are just way too complex for any technology to address — including the validation of invoices against enterprise resource planning (ERP) data.
- We have a unique or custom accounting system, so invoice automation can’t work for us.
- I’m concerned this process will be a “black hole,” that I won’t be able to get visibility into where invoices stand and other analytical information.
View the Presentation Slides Now: