In an age where “time is
money,” it's important to know the true meanings behind Accounts
Payable and Accounts Receivable. Breaking it down, receivable and
payable refer to the ebb and flow of money into and out of an
organization. Pairing these terms together with the word “accounts”
defines detailed lists of monetary transactions; Accounts Payable
and Accounts Receivable. This translates further into document
management.
Often lost in the flow of money is the intricacy of individual
transactional events which ultimately build those “detailed lists”
and serve to speed up or slow down cash flow. The supporting role of
accounts payable/receivable must be the capturing, managing,
delivery and secure preservation of every step in the transaction,
forming the truest definition of document management and related
services.
In this age of widely differing communications, the AP/AR function
is weighed down not only by volumes of documents, e-mails and
transaction notices, but also by the various formats (paper,
electronic) and countless disparate sources.
Do any of these challenges sound familiar? How much time and effort
does it take to justify a basic invoice? How much backup and what
kind is needed? How do you gather all the information into one place
for fast, accurate and complete access by authorized personnel?
It pays to look at the AP/AR paper chase from the perspective of
either a cost or contributor to the bottom line, because cash flow
and financial reporting to management are strategic for any
organization. As a manager, there are other things to consider, too.
What's the actual cost of managing those receipts and payouts?
What's the potential risk and costs associated with non-compliance
if my document imaging and management systems are not up to
standards? How much will it cost me for my inability to pay the
organization's bills on time or collect revenues costing? Is there a
way to ensure complete, accurate and timely processing, document
archiving and fast retrieval?
Fortunately, the answer to all these questions lies in WebXpress.
WebXpress Document Services offers refuge for accounts
payable/receivable with customized solutions to meet the unique
needs for your organization's environment. Returning accounts
payable/receivable departments back to their primary functions,
WebXpress handles the document management.
Central Repository
WebXpress provides an efficient electronic repository and secure
archive for contracts, suppliers, and transactions not captured by
typical financial “systems.” Your custom archive captures, manages
and delivers information ranging from procurement controls and
managing contracts to curbing or eliminating unnecessary or
inappropriate expenditures.
WebXpress's solutions enable AP/AR departments to:
- View invoices and purchases
in one non-revisable environment
- Speed up the processing and
approval processes
- Make billing and invoicing
information available to customer service or customers
themselves
- Support Check 21 regulations
- Archive e-mail and other
important communications
Let the expert, WebXpress, handle the
science of document management to allow accounting professionals to
focus on what they are hired to do – manage the organization's flow
of money – it's bottom line.
WebXpress Online has a simple, intuitive interface, which includes a
login, query, and hit list screen. These screens can be customized
to match the customer's look and feel. Also, there is a set of
Application Programming Interfaces (APIs) available to integrate
document access with a customer's website and to provide single
sign-on access.
WebXpresstm
is a registered trademark of ABT Group, Inc.©
2004 ABT Group, Inc. All rights reserved. All
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