Building the Business Case for Change Using Document Management_What’s My ROI?
1 like129 views
This webinar presentation discusses document management solutions. It will last approximately one hour, with Bruce Lynn and Kelly Hummel presenting. Attendees are asked to type any questions into the question box. The presentation will cover the importance of document management and working capital, how organizations currently store documents, and how a document management system called DocLink can benefit various departments like accounts payable, accounts receivable, and the CFO's office by streamlining processes and improving access to information.
Building the Business Case for Change Using Document Management_What’s My ROI?
- 1. Live Webinar: Webinar Audio: You can dial the telephone numbers located on your webinar panel. Or listen in using your headphones or computer speakers. Welcome!
- 2. Webinar Details • Presentation is roughly 1 hour • All phone lines are muted • If anyone has any questions during this webinar – please type them in your Questions Box located at the bottom of your webinar panel
- 3. Today’s Presenters Bruce Lynn - Managing Partner, FECG Bruce has acquired over 20 years of corporate and banking experience in all aspects of treasury and financial management by successfully tackling major assignments in such areas as treasury operations, cash management, strategic planning, treasury and systems enhancements as well as the design of operating and capital budgets and forecasts. Kelly Hummel – Practice Director, Net@Work Kelly oversees the Sage 300, Highjump Supply Chain Management and Altec Document Management solutions. She has been assisting companies with their business technology efforts for over three decades, starting as a financial business advisor implementing multiple systems and then owning her own value added reseller practice. Kelly sold her company to Net@Work two years ago but still continues to pursue being a trusted advisor to businesses and helping them reach their technology goals with efficient innovative solutions.
- 4. ABOUT THE FECG LLC • The FECG (www.thefecg.com) is a boutique financial consulting firm offering : • Advisory services & project management - working capital, treasury & cash management, compliance, banking relationships and technology efforts • Recruiting services – Companies often need more than just short term results from their experts. When a company wants to “buy by the year” we can supply the senior level staff needed, including “C” level professionals • Contact: Bruce C. Lynn, CTP, Managing Partner (blynn@thefecg.com), 203-655-4806
- 5. 180+ Business Technology Architects and Consultants IT Road Mapping & Strategic Planning Business Process Review Ecosystem BI, Analytics & Reporting Cloud & IT Managed Services ERP/ Accounting Web Development & e-Commerce Sister Company Payment Processing SWYPE Sister Company CRM & Marketing Automation HRMS/ Employer Solutions Document Management Nonprofit Solutions Managed Print Services Sister Company
- 6. A Data-Driven World with Document Management
- 7. IMPORTANCE OF WORKING CAPITAL Source: National Center for Middle Market, Working Capital Management Survey, May 2017, p 6. 400 Companies surveyed Sales 10MM – 1Bn Company Leadership on WC: • 49% extremely important, but • 24% top business priority Missing Opportunities: Vendor Discounts? Customer returns? Over borrowed? Operational costs??
- 8. WE LIVE IN A DATA-DRIVEN WORLD…
- 9. Do you have access to your own data?
- 10. HOW ARE YOU STORING DOCUMENTS TODAY? file cabinet network file share software
- 11. WHAT IS DOCLINK? DocLink SMART FORMS capture search & retrieve workflow automated delivery
- 12. The Impact on Your Team
- 13. Accounts Payable
- 14. ACCOUNTS PAYABLE Minimizing Data Entry Access & Timely Approvals Seamless ERP Integration
- 15. MINIMIZING DATA ENTRY Automate capture & indexing Reduce manual reconciliations and matching Leverage existing ERP data & reduce human error
- 18. Construction Services Contractor 2+ million documents in DocLink Customer Evidence: Immediate Access
- 19. APPROVALS FROM YOUR MOBILE DEVICE AND EMAIL
- 21. SEAMLESS INTEGRATIONS Uninterrupted, deep integration between DocLink and your ERP allows data flow side-by-side DocLink ERP
- 22. INTERNAL BUSINESS PROCESSES New vendor setups Miscellaneous check requests Expense reports Credit card processing Telephone/Utility bills for different locations & departments
- 23. Accounting Manager / Controller
- 24. ACCOUNTING MANAGER / CONTROLLER Visibility & Reporting Improved Accuracy Higher Value Add
- 25. VISIBILITY & REPORTING Monitor workflow statuses Manage audit trails Improve financial reporting Streamline inter-company accounting
- 27. HIGHER VALUE ADD to file a document to retrieve a document to re-create a document $20 $120 $220 *data from PricewaterhouseCoopers
- 28. Customer Evidence: Paper Storage Midwest Manufacturer $85,000 in storage/retrieval charges
- 30. ACCOUNTS RECEIVABLE Quick Invoice Delivery Supplemental Documentation Improved Customer Service
- 31. AUTOMATED DELIVERY Automate through preconfigured routing rules Attach all backup documentation for one send Customize method of preferred distribution Specify delivery schedule
- 32. Government & education software developer $11,000 annually in postage only Customer Evidence: Delivery Savings
- 34. CHIEF FINANCIAL OFFICER Increase Productivity Manage Compliance & Risk Enterprise-Wide Solution
- 35. Firm expanded without adding new staff $48,000 salary Customer Evidence: Increased Productivity
- 36. Give auditors access to: • Documents for review • Sophisticated activity reports No more hunting down documents. COMPLIANCE
- 37. ENTERPRISE-WIDE SOLUTION Human Resources (onboarding, certificates, etc) Contract Management (internal, external, etc) Facilities Management (service requests, builds, etc) Field Services (mobile capture, service calls, etc)
- 39. Questions? Please type in your questions
- 40. Thank You For Attending! • Treasury Consultation • Bruce C. Lynn, CTP, FECG • blynn@thefecg.com • 203-655-4806 • Document Management • Kelly Hummel, Net@Work • khummel@netatwork.com • 800-719-3307