Paper-based Invoices Lakewood WA

So paper-based invoices have your company confused and unorganized? The following article tells how to manage paper-based invoices and bill in small business companies.

Local Companies

Net-Venture, Inc
253-942-8400
3460 S Cedar St Ste E
Tacoma, WA
Qwest (Tacoma Branch)
253-475-4544
7850-B S Trafton St Rm110
Tacoma, WA
Clearwire
253-617-2304
2601 S 35th St Ste 100
Tacoma, WA
AT&T Mobility
(253) 473-2532
4502 S Steele St Ste K505
Tacoma, WA
Peninsula Computers
253-389-8250
2707 N 21st St
Tacoma, WA
Topia Technology, Inc
253-572-9712
1119 Pacific Ave Ste 1600
Tacoma, WA
Rainier Connect
253-683-4200
2516 Holgate St
Tacoma, WA
Data Trace
(888) 500-3979
4301 Industry Dr
Fife, WA
Cascadia Software, Inc
253-896-4000
3600 Port of Tacoma Rd Ste 210
Tacoma, WA
HPD Global IT Consulting
(206) 697-8769
13917 126th Ave E
Puyallup, WA

Both big or small business must always deal with accounts processing to handle their invoices and bill payments. As this processes deals with cash flow of the company it must be managed properly with full concentration. In this millennium there are modern equipments like online bill payment, electronic invoicing, and P-card are available that remove the paper based processing from the accounting department. But the fact is these technologies may reduce the paper documents but cannot remove it. According to Aberdeen Group research report research report 80% of invoices come in paper format which increases as the company goes smaller and smaller

Utility of Account Data capture Software

Several companies like Kofax , ReadSoft , AnyDoc and Abbyy manufactures data capture solutions specifically developed to convert all the paper based documents into data to sent to the accounting or ERP systems. Large corporations have seen its utility which has increased efficiency of their accounting departments and achieved significant productivity gain in processing their accounts payable and accounts receivable data. Small business cannot afford the cost of the software. Most of the small companies use software just to scan their paper based accounting documents and manually enter the accounting data into their accounting or ERP system.

Reason for not using Account Data capture software

Beside the cost of the sophisticated software other utilities are







Thus it becomes unbearable for small company to buy this software. Moreover your accounting or ERP system must have a compatible interface with the software otherwise it may not run. Sometimes the software couldn't identify the scanned hand made documents for which sometimes your have to work manually. Software vendors embraced OCR and ICR technologies into their product to capture the account data accurately from the scanned images, they're still long way to go to remove the manual process. So still a long way to go to remove manual work.

Thus big companies using an account data capture solution can affordable it and they can justify the cost of managing it. But for small companies it is not an affordable solution and their in-house manual process is not cost-effective and efficient.

So what is the way ouy from here?

Outsourcing to different offshore vendors help a lot to get account processing documents converted to your account or ERP systemThey can use their existing infrastructure to send the data to offshore location securely through Internet to be processed by the offshore vendor. For more details on how the process works read Cybelink Secure BPO They don’t have to change their unique way of management of accounts department

Only change is instead of small business personnel offshore vendor is responsible for converting all the account data from the scanned images to the accounting software or ERP system.

After receiving the scanned images, following are the typical tasks performed by the offshore vendor.





Once they receive the finished files from the offshore vendor, they can import it into their accounting or ERP systems for verification and further processing it.

Small businesses can achieve several benefits from using offshoring accounts payable and accounts receivable services; cost of processing their paper documents will decrease by 50% to 60%. The cost saving does not come free, small businesses needs to overcome issues like offshore security and offshore outsourcing cultural issues. But by carefully managing their offshore vendors small businesses can gain the cost reduction and operational efficiency in their accounts payable and account receivable operations.

About the Author:

Mani Malarvannan is cofounder of Cybelink, a company specializes in small business financial and accounting outsourcing like Bookkeeping, Tax, Accounts Payable, Accounts Receivable, etc. For more info visit http://www.cybelink.com






Article Source:

thePhantomWriters Article Submission Service

Featured Local Company

Net-Venture, Inc

253-942-8400
3460 S Cedar St Ste E
Tacoma, WA

Related Local Events
Leads Group: Wired
Dates: 11/26/2009 - 11/26/2009
Location: Mud Bay Coffee
Olympia, WA
View Details

Leads Group: Wired
Dates: 12/3/2009 - 12/3/2009
Location: Mud Bay Coffee
Olympia, WA
View Details

Leads Group: Wired
Dates: 12/13/2009 - 12/13/2009
Location: Mud Bay Coffee
Olympia, WA
View Details

Leads Group: Wired
Dates: 12/24/2009 - 12/24/2009
Location: Mud Bay Coffee
Olympia, WA
View Details

Leads Group: Wired
Dates: 12/31/2009 - 12/31/2009
Location: Mud Bay Coffee
Olympia, WA
View Details

Rss   Delicious   Digg   Add To My Yahoo   Add To My Google   Bookmark   Search Plugin

Topics:
Advertising Family Home Services Real Estate Resources
Business Services Fashion Industrial Goods & Services Retail & Consumer Services
Career Financial Services Insurance Software
Cars Food & Beverage Internet Technology
Computer Hardware Franchise Legal Telecommunications
Construction Health Miscellaneous Trade Shows
Education Holidays Nightlife Travel
Entertainment Home Appliances Online Database Weddings
Environmental Home Electronics Pets World History