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The article has been updated successfully but requires approval before it is published.Kollabria Analyst Snapshot Review - FileBound e-Now:
A long standing rule of thumb is that it takes one accounting clerk to process approximately 1,000 invoices. Entering the data from paper invoices into the accounting system is a major part of the labor cost for a finance department. Some big companies have automated that process with expensive systems that can scan the documents, extract the critical information from the paper invoice and upload that content to the appropriate accounting program or ERP solution. The implementation process for these solutions is lengthy for many reasons not the least of which is training the software to properly recognize the content on the paper invoice and upload and reconcile that information with the appropriate customer information.FileBound has taken a major chunk out of that process by making scanning and processing easy enough that a child can do it. Literally! A short un-rigged video of FileBound's CTO at home, shows his daughter uploading and processing invoices on an iPad.
The FileBound e-now system resides in a cloud on the internet, and therefore is accessible on demand by anyone, whenever they need it. Hook up a scanner to your computer, and the e-Now system scans the document and automatically identifies all the fields like customer name, amount, address and all you do is click on them to upload the data to your accounting system.
The e-now processing cloud maps the data into your accounting software. FileBound clearly had the design objective to make this an easy thing for any officer worker to perform without requiring any special training.
Kollabria believes that FileBound has achieved a breakthrough in simplicity and broad market appeal. With e-Now anyone can upload and process invoices from anywhere, (even from within SharePoint) and do so at any time.
Needless to say, e-Now represents a major step forward in bringing automated invoice processing into the 21st century. The biggest surprise to us, is the price: Twenty five cents per invoice. This brings the price of processing 1,000 invoices down to a mind boggling $250.
FileBound e-Now gets a thumbs up from us.
- Simple, requires no training, anyone can do it
- Cloud-based, omnipresent, distributed
- Cost effective, more powerful than it looks
Seeing is believing, sign up for a webinar demonstration.....
About FileBound e-Now:
- Convert your paper invoices to e-Invoices with a click of the mouse
- Automatically transfer e-Invoices to your accounting system
- Electronically process your invoice approvals
- Store your invoices securely online
With e-now, tomorrow’s promise of e-Invoices is delivered today. e-now is a hosted solution that provides everything you need to convert all of your paper invoices to e-Invoices with the click of a mouse and pass the invoice data directly into your accounting system. e-now also provides single click access to invoices from within your accounting system, automated routing for approvals, and compatibility with SharePoint® 2010 implementations.
In the past, the cost and complexity of these types of solutions has kept them out of reach for most organizations. With e-now that all changes. The e-now SAS70 certified hosted service removes the up front capital cost and technology resources that most invoice processing solutions require.
e-now is priced at 25¢ per invoice and provides a simple way to calculate 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 all organizations.
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