Article Abstract:

According to a 2009 survey conducted by the Accounts Payable Network, the average cost of processing an invoice for companies with less than 500 employees is $8.88, whereas companies in the largest category of 10,000 + employees reported a cost of $3.06. Also, the study reported that frontend scanning and automated workflow were implemented by only 22% of organizations with less than 500 employees, yet by over 60% of those in the largest category.

Article Excerpt:

The results of this survey demonstrate a clear reduction in cost when these automation solutions are implemented. They also point out that the cost of the solution has to be aligned with the perceived size of the problem. This seems to be the main reason why a larger number of small to medium sized organizations haven’t adopted these solutions. Most of the existing solutions for automating invoice processing simply cost too much and require technical resources to support them that these organizations don’t have. This has left a large market segment underserved, and unfortunately it’s the market segment that requires such solutions the most.

Having recognized the disconnect between the need, the solution, and the cost,  Marex Group, the developers of the FileBound document management solution, set out to solve this problem.  The Marex Group spent time working with finance professionals from organizations of various sizes and industries to understand the specific challenges needed solving and the price points that made sense.   From this hands on research, we designed and developed the revolutionary new FileBound e-now solution.

FileBound e-now is a hosted solution that allows you to convert your paper invoices to e-invoices with the click of a mouse and pass the invoice data into your accounting system.  E-now as a hosted service, removes the capital cost and technology resource requirements’ that keeps most organizations from adopting these cost saving solutions.  E-now is integrated with Microsoft Dymanics Great Plains, Quickbooks, and the Sage accounting systems and can be operated from any SharePoint workstation.

E-now is priced at .25 per invoice and provides an instant return on your investment.  Finally, there is an automated invoice processing solution with the capabilities of an enterprise class solution, but priced and delivered to meet the needs of the masses.

To learn more about FileBound e-now, and to begin realizing the value that e-invoices provide visit us at www.fileboundenow.com.