Executive Briefings

Goodyear Leaves Manual Entry of Invoices in the Dust

While many business processes have become automated, accounts payable processes remain largely paper-based and cumbersome. Electronic data interchange has long promised automated invoice delivery, verification, audit, and payment, but according to Gartner and Aberdeen Group research, 75 percent to 80 percent of invoices today are still received in paper form and processed manually. Clearly, paper isn't going anywhere. The question then becomes--what is the best way to streamline these paper processes in order to maximize productivity and minimize operational costs? The Goodyear Tire & Rubber Company recently answered this question by implementing an optical character recognition and automated workflow solution in its AP department.
Source: Integrated Solutions

While many business processes have become automated, accounts payable processes remain largely paper-based and cumbersome. Electronic data interchange has long promised automated invoice delivery, verification, audit, and payment, but according to Gartner and Aberdeen Group research, 75 percent to 80 percent of invoices today are still received in paper form and processed manually. Clearly, paper isn't going anywhere. The question then becomes--what is the best way to streamline these paper processes in order to maximize productivity and minimize operational costs? The Goodyear Tire & Rubber Company recently answered this question by implementing an optical character recognition and automated workflow solution in its AP department.
Source: Integrated Solutions