Posted under Fireproof RecordsurlRecords Management
by on September 20, 2017
In today’s highly competitive business environment, many organizations are expanding through mergers and acquisitions (M&As). Unfortunately, success comes at a cost. Growth via M&A activity often involves absorbing disparate ERP applications, which, over time, can create significant inefficiencies — particularly in the accounts payable (AP) department. The good news is, AP automation is emerging as an end-to-end solution that forward-thinking organizations can use to eliminate AP-related silos and maximize their market potential.
Why Adding Automation to the Mix Isn’t Counterproductive
For many AP and finance leaders, the idea of automation is appealing but the thought of adding another solution to an already convoluted environment seems counterproductive. However, when you examine the top AP concerns of today’s c-suite members, you’ll find that automation aligns perfectly with their foremost goals. For example:
- It boosts staff productivity. According to a recent study by IOFM, “improving employee productivity” was the top concern among c-suite members. Automation addresses this concern by not only drastically reducing low-value manual tasks, but allowing users to manage all AP invoicing activities from the same interface regardless of the back-end ERP — making user training easier and invoice processing faster.
- It consolidates workflow and shores up internal controls. In a manual environment, AP departments run the risk of paying inaccurate, fraudulent or duplicated invoices. In automated environment, because the solution interacts with all the ERP systems, invoice data is processed with complete accuracy and security through a single point of control.
- It enhances visibility. Effective cash flow management practices can generate real and impactful cash value for a business. Whereas manual invoicing makes it virtually impossible to source, track and analyze the metrics necessary to do this, automation solutions offer them in real-time via customizable dashboards.
How Can You Get Started
Even with the potential productivity and cost benefits that an AP automation system can bring, it can be hard to know where to get started. The below white paper from our partners at Esker is intended to assist AP and finance leaders, along with ERP system administrators, in evaluating their options, simplifying the decision-making process, and getting the absolute most out of their AP automation investment. Learn more and download the white paper today!
Download White Paper
Posted under Fireproof Records
by on September 15, 2017
Fireproof has a storied history of serving our local community for over 100 years. Although our mission and our story continually evolves, one thing over time has remained constant, our dedication to exemplary customer service.
Posted under Fireproof Records
by on September 5, 2017
Many business rely on paper documents, from employee documents to contracts to records, they are essential to daily operations. It is important to take the necessary steps to protect them from water damage. The best way to prepare and protect your information is to plan ahead. Fireproof CEO Mike James shared his insight on the steps that businesses should take the protect against water damage.
“The first step to protection is prevention,” says James. “There is a lot you can do before a disaster to prevent it from ever being a problem. While the greatest water damage is likely caused by a flood, other problems such as a broken pipe or sprinkler can cause serious damage as well. The first thing you can do is make sure you are storing your documents in a good box…a good box has double or triple layers that will protect from most moisture and can even absorb moisture.”
Another step to prevention is to prioritize. “If possible, avoid storing important documents in a basement. If that is the only option, be sure to store any essential documents at least 6 inches to one-foot from the ground,” adds James.
“If water damage does occur, you will want to assess it as quickly as possible,” explains James. “The quicker you assess, the easier it is to mitigate the problem. In some cases, the documents may only need a fan dry. More serious cases may require deciding which documents are absolutely necessary to keep and may need freeze dried to help restore. Whatever your situation, Fireproof can help assess the best methodology to help you mitigate any damage,” says James.
“Depending on the volume of documents, you will need adequate space to recover the damaged documents. Often, we will take your recovered documents and scan them. It can be more cost effective to digitize your documents than to completely restore the paper versions. Also, due to severe damage, some paper documents that have been damaged will deteriorate more quickly over time, so it is important to have a digital backup,” explains James.
A Final Word
“It is important to store your documents in a safe place. Many people rely on public storage facilities…however, they aren’t always protective. We see records that have damage from moisture, humidity, bugs, and more,” says James.
For information about how to safely store, protect, and recover your important documents, contact Fireproof today.