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Document Management Blog

Accounts Payable Pain Points

Category: Blog   |   Tags: , ,

Manual processes create a lot of accounts payable pain points for organizations of all sizes.  In its 2019 Payables Insights Report, Levvel Research found that the top pain points across North American organizations include: Manual data entry and inefficient processes Manual routing of invoices for approvals Lost or missing invoices Majority of invoices received in paper format Lack of visibility into outstanding liabilities High number of discrepancies and exceptions Inability to approve invoices in time to capture discounts Decentralized AP processes Levvel found that organizations eliminate accounts payable pain points by automating their processes to create an invoice environment with … Continue reading

Accounts Payable Trends

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Rather surprisingly (or not), accounts payables trends in North America show that many organizations are behind those in other countries when it comes to digital transformation and back-office digitalization.  That’s one of the observations in the 2019 Payables Insight Report from Levvel Research, sponsored in part by DocStar. Levvel Research finds that the lag in North America is greatly due to differences in tax structure and regulation.  In Europe and Latin America, the use of electronic invoices is regulated to ensure compliance with value-added tax laws.  In North America, taxes are primarily based on sales and income. There is some … Continue reading

Best Enterprise Content Management Platforms

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Finding the best enterprise content management platform is not easy. These solutions can vary greatly, and what’s important to one company may not be as important to another. But there are key performance indicators that evaluators can use when looking for the right solution. There are a number of review sites where actual ECM users comment on their likes and dislikes, and rate their experiences in areas that include: Ease of use Features and functionality Customer support Value for price User interface and experience We recently looked at reviews found on G2 Crowd, Capterra, Software Advice, IT Central Station, and … Continue reading

What is HR Automation?

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Human resources automation uses software to digitize and streamline the processing of document-centric tasks, providing HR departments with improved efficiency and reduced cycle time, while reducing the potential for human error. By digitizing and automating the most tedious, mundane, time-consuming functions, HR personnel can concentrate their time on strategic initiatives that provide value to the company, rather than just filling out and filing required paperwork. What’s more, HR automation can ensure the requisite security and privacy controls are in place to safeguard sensitive information and support corporate governance and regulatory compliance requirements. Advantages HR automation can offer companies include: Automating … Continue reading

Document Scanning

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Document scanning is the rather straightforward process of creating a digital document from a paper document, and it’s essential for any document management strategy as organizations still receive paper documents. Case in point – invoices.  According to Levvel Research, small-to-medium enterprises receive 48% of their invoices on paper.  In the middle-market space (defined as companies with $2 billion to $100 billion in annual revenue), 41% of invoices are presented on paper, while larger enterprises receive 22% of invoices on paper. Once an invoice is received, 57% of all companies use a manual data entry process to enter the information into … Continue reading