Open Scan Offering Businesses Leading Automation Solutions For Invoice Processing

By Author: WSI ALM
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Within accounting departments around the globe, scores of professionals spend their entire workday to ensure that the financial aspects of their company are accurate and up-to-date. In an era where organizations are now competing globally with enterprises in other parts of the world, one small mistake in reporting can have large long-term consequences for the organization. That’s why many companies are now turning to invoice processing automation solutions in order to consolidate the costs of running their accounting departments and improve the accuracy of their data. Within this field, one specialist continues to stand out for their commitment to clientele.

Open Scan Technologies, Inc. is a pioneer in accounting automation. The company is helping businesses to streamline their accounts receivable process by offering them the ability to accept and manage all styles of payment and remittance from both distributed and centralized locations. By offering clients with a leading-class tool for invoice processing automation, Open Scan has helped businesses to improve the efficiency of their in-house accounting departments ...
... and to reduce the administrative burden on over-worked accounting teams.

Many Open Scan clients have noticed an immediate improvement in their receivables process after implementing this advanced invoice processing solution into their organization. For companies who receive payments at a lockbox, all payment and remittance information is available the same day the payment is made. The company’s accounts receivable solution also provides work teams with the ability to handle exceptions from a single user interface, which helps companies to reduce their infrastructure costs by eliminating the requirement for multiple in-house terminals. These are just a few examples of the benefits offered to organizations that integrate Open Scan’s accounting automation software within their systems.

The company’s solutions have been implemented within a broad range of organizations and multiple case studies have been conducted highlighting the success clients have achieved with the Open Scan product line. Consider for example the company’s work with Avnet, Inc., a Fortune 500 company and one of the largest distributors in the world of electronic components, computer products and embedded technology. Avnet receives more than 200,000 checks annually within their SAP environment and wanted to improve their productivity in this key business area. In addition, they were looking for a solution that would help the organization to consolidate operating costs by reducing bank keystroke fees, shortening cash application timeframes and improving the overall quality of the data within their systems. The solution they chose was the OPEN SCAN® Corporate A/R Remittance Processing Automation Software Solution.

By implementing the Open Scan solution, Avnet was able to capture and validate invoice numbers and amounts paid in real-time within their open accounts receivable system. The use of current data within the system helped the company to increase the efficiency of their exception handling by 25%. In addition, they have also achieved one-day cash application cycle times, therefore improving the flow of capital significantly within the organization. Truly, no other system could offer this level of business improvement.

Accounting automation systems are poised to transform the way business is conducted. Within this field, Open Scan is the unparalleled leader. To learn more about the company’s invoice processing automation systems, contact the organization’s in-house representatives today. Flexible, high performance accounting systems can be achieved with Open Scan. Visit openscan.

Based in Denver, Colorado, and founded in 1998, Open Scan is a privately held software and services company. In addition to our innovative software that can be “taught” in a matter of seconds rather than cumbersome “learning” centric models, Open Scan brings to its clients best practice subject matter expertise in receivables and payables processing. Website at www.openscan.com.