Invoice processing is no easy task and can be a time consuming and resource intensive task. Even with a variety of different solutions on the market, most companies still manually process invoices. Technology costs and complexity have been barriers to automating invoicing, but with Ephesoft that is no longer the case.
We recently helped a growing ecommerce site, eReplacementParts.com, implement Ephesoft to automate its invoicing processing to improve overall procurement and accounting processes. Like most growing businesses, eReplacementParts’ manual invoicing process had become inefficient. For a company that promotes reuse and sustainability, the process was anything but green.
Zia worked with eReplacementParts to assess their needs and determine how Ephesoft could be used in their environment and on their budget. eReplacementParts is a tech savvy company and while they did the implementation themselves – they needed help to ensure they configured and customized the system properly for their environment. Zia also provided support through their implementation.
Today, the company can quickly and easily convert paper invoices to electronic ones – regardless of document format documents to electronic. When invoices are received they can be scanned into the system and sent directly to the Ephesoft server where text is extracted from the documents into forms and integrated with the company’s ERP system. The system retrieves the appropriate data fields for classification and validates the information with POs. It will also flag exceptions or direct a document to the appropriate system for processing.
With Ephesoft, eReplacementparts has moved from a manual process to an automated process – saving time, improving system accuracy and reducing paper waste. They are a great example of how companies can cost effectively use intelligent document capture technology to simplify the task of invoice processing. If you are struggling to manage your invoice process – Ephesoft could be the right solution for you!
We have worked with a lot of different document capture technologies over the years and we believe Ephesoft is truly a next generation product. This year Zia Consulting was named Ephesoft 2011 Partner of the Year and we create solutions with it every day. Based on our experience creating Document Capture solutions for our customers, here are a few key reasons why we are so excited about Ephesoft and why you might be too.
Yes, there is a huge cost savings associated with Ephesoft and it is clearly seen for those high-end customers that have complex document capture requirements. For example, Kofax is very module and volume driven which can drive up the costs – especially for those customers that require its full functionality. If you using Kofax Transformation Modules (KTM) with invoice processing, 10 fields of extraction and table extraction, etc. – then you will see a 90 percent savings by moving to Ephesoft. For these types of customers, it’s an easy value proposition which translates to tens (if not hundreds) of thousands of dollars saved. However, not all companies will see this type of savings – it depends on the type of solution / features you require.