Relying on paper slows you down. It leads to prolonged days sales outstanding (DSO) as well as delayed deposits and inaccurate cash flow projections. By capturing and processing payments automatically, you increase the speed and accuracy of your accounts receivable (AR) processes.
Decreasing your dependence on paper allows you to increase your operational efficiency and decrease the occurrence of misapplied cash. Information flows through your processes, reaches everyone who needs it, integrates with critical applications and provides real-time insight into the health of your finances.
You may have a lot of choices, but these six categories comprise the “Gold Standard” of a true enterprise content management (ECM) solution. When researching your options to solve these business pains, make sure the solution you choose can perform all of them.
CAPTURE
Electronically capture remittances and paper from any location.
Automatically classifying your documents means minimal data entry – and less paper.
PROCESS
Increase the speed and accuracy of your AR and payment application processes.
Automatically reconcile payments to outstanding invoices and track all documents throughout their lifecycles.
.
ACCESS
Everyone who needs to access content and processes does so easily, no matter their location.
The user experience is personalized, integrated with accounting and ERP applications, available from mobile devices and extended to authorized users outside of your organization.
INTEGRATE
Seamlessly integrate your accounting and
ERP applications without custom coding.
Not only is content instantly available directly from the applications users rely on every day, but the systems synchronize data in real time behind the scenes.
MEASURE
Monitor and report on the information and activities within your
ECM solution.
Identify and eliminate payment processing bottlenecks. Prepare for audits with instant insight into exactly what information you do and don’t have – all without involving IT administrators.
STORE
Securely store and protect invoices, remittances and payment data from disaster during their entire lifecycles with built-in data redundancy.
Automatically destroy content when it expires in accordance with legal retention requirements.
© Hyland Software, Inc. All rights reserved. v3102.50.11 Trademarks or registered trademarks are the property of their respective owners.

Decades into the Information Age, relying on paper-based, manual AR processes is an antiquated approach. Relying on paper often results in error-prone data entry, delayed deposits, inaccurate cash flow projections and high labor expenses. By automating remittance and check processing, you can join the growing number of companies that are discovering ways to speed cycle times with accurate, balanced deposits to your cash receivables days – or even weeks – sooner. To do so, you have to stop manually processing incoming payments.
CAPTURE | Eliminate paper-based, manual processes to increase speed and accuracy
With OnBase enterprise content management (ECM), you capture and process payments and related documents electronically, freeing you from the costs and risks of performing manual data entry. You scan and convert remittance statements and checks into images right out of the envelope – making them digitally viewable to the entire department in seconds. By decreasing your dependence on paper, it allows you to improve your operational efficiency, lower your turnaround time and increase the accuracy of data entering your existing accounting or enterprise resource planning (ERP) system.
OnBase AnyDoc Remit searches through remittances and checks, capturing data like payment amounts, statement IDs, invoice numbers, customer account numbers and more. You also capture all headers, summary items and line-item details. The solution automatically recognizes all future remittances from the customer by retaining unique identifying information the first time it’s captured, further optimizing the extraction process.
By automating the remittance and check data capture process, you:
With automated payment capture and electronic documents enhancing the speed and accuracy of your processes, you also:
• Increase your speed and accuracy
• Reconcile payments with ease
• Manage finances with real-time information • Boost your automatic cash application rate
• Reduce days sales outstanding (DSO) and accelerate cash flow
• Decrease payment processing costs
The OnBase AnyDoc Remit solution automates and streamlines the capture and delivery of remittance data into your financial system and the deposit of checks to your bank. This means you deposit checks faster, eliminating the negative impact of unpredictable float times.
© Hyland Software, Inc. All rights reserved. v3102.50.11 Trademarks or registered trademarks are the property of their respective owners.

PROCESS | Mirror current processes instead of reinventing the wheel
OnBase AnyDoc Remit verifies captured data for accuracy and alignment with your business rules. The flexibility of the solution also allows you to set up your verification system to mirror your manual system, minimizing training while increasing user adoption. For example, if you require that a supervisor check payments over $10,000, you can set that as a rule and automatically assign a supervisor as your second step in the process.
During the check processing workflow, checks can be virtually endorsed for deposit. Output files are created according to industry specifications including a X9.37 file or image cash letter. This allows you to make deposits at your convenience – without leaving your desk – using an encrypted Check 21 transmission.
Once the solution verifies your data, it imports it into your document storage and retrieval system or database. If you also accept EDI payment and remittance information, you can format the output to integrate with your EDI payment stream. You can even direct your output to multiple destinations on your schedule, without manual intervention.
ACCESS | Put electronic documents at your fingertips
No matter what file format they arrive in, with OnBase you centralize all supporting documents. By immediately imaging documents upon receipt and making them available directly from ERP screens, you simplify employee tasks.
No more wasted time looking for critical payment information. No more worries about document loss or damage.
INTEGRATE | Tie systems together to increase communication and share information
In an era of increasing regulations, AR departments need more transparency into processes. They also need to be able to handle the sheer volume of transactions running through them. However, the documents surrounding a transaction are often separate from the data.
Even if a great ERP or accounting system is helping with accounts receivable management, it can’t handle data and documents together.
By integrating your ERP with OnBase , you unite your data and documents. AR staff can stay in their familiar ERP applications and just use a mouse-click or keystroke to find the documents related to that specific transaction or account.
© Hyland Software, Inc. All rights reserved. v3102.50.11 Trademarks or registered trademarks are the property of their respective owners.

MEASURE | Real-time visibility of cash flow
Despite the efficiencies that ERP systems bring to order tracking, many obstacles cloud visibility into the financial health of an organization. Because critical order data is literally hidden in the ad-hoc processes and paperwork of employees, decision-makers often don’t have a handle on cash flow status.
That’s the value of electronic document workflows in conjunction with
ECM. In addition to automatically forwarding documentation through processes and alerting stakeholders to any exceptions, workflows enhance ERP systems by automatically enforcing corporate policies and oversight without custom-coding into your ERP. Audit trails, real-time reporting and executive dashboards provide decision-makers critical and measurable clarity. If DSO doesn’t match payment terms, you can adjust based upon true demand, before it’s too late to recover.
STORE | Improve customer service with all documentation in a central electronic repository
With current and historical documents at the fingertips of both employees and customers, you easily address disputes resulting from discount terms, deductions taken or shipment logistics issues. AR staff members even have the ability to open supporting documents right from ERP customer account screens and immediately e-mail documents to customers. With documentation and original terms clear, disputes are quickly resolved in a way that brings cash in while supporting customer relationships.
By using the right capture and enterprise content management solution, you avoid backlogs with rapid and accurate cash application. In fact, many companies have seen processing times of 10 days reduced to a mere three to four hours, while saving up to 65 percent or more in annual processing costs.
Take your first step down the road to improved processes and profitability. Look into ECM and get ready to let go of your dependence on paper. Everyone involved in your organization – and your customers
– will thank you.
For more information on how to optimize your accounts receivable processes, go to www.Hyland.com/AccountsReceivable
© Hyland Software, Inc. All rights reserved. v3102.50.11 Trademarks or registered trademarks are the property of their respective owners.