Leanne can now process invoices within a day.
By re-engineering the accounts payable process, average processing times have gone from ten days to one.
At FileBound Solutions, we help businesses be successful by providing a range of digital solutions, including accounts payable automation (AP Automation) software designed to improve business efficiency. Our goal is to reduce pressure on your organisation's resources, specifically your accounts payable department, by helping to streamline and automate labour-intensive processes like manual invoice processing and payment reconciliation.
FileBound Solutions will reduce the burden on your accounts payable staff by eliminating time-consuming manual tasks such as handling paper invoices, completing duplicate payments or processing early payment discounts. They'll never miss a payment deadline again with FileBound's accounts payable automation software (AP automation software). Our AP automation software is designed to simplify, automate and streamline processes. It will deliver significant savings in time spent chasing lost invoices or electronic purchase orders and reduce laborious data entry. You can automatically route through your defined invoice approval process while seamlessly integrating with your existing accounting software to save your business time and money.
FileBound can reliably capture electronic invoice information directly from your incoming emails, saving you the time required to enter them manually and providing assurance that invoices won't be overlooked.
Additionally, we can build a custom approval workflow that routes invoices from your accounts payable teams directly to the approvers in your financial system. Getting the invoices to your accounts payable teams quickly means your payment reconciliation will be reliable, and reporting on progress will be a breeze. FileBound also easily integrates with your accounting system of choice to ensure all supplier invoices are captured and recorded as part of a single workflow which will save on your processing costs. Quite simply, FileBound provides solutions that transform your business.
FileBound's cloud-based platform means invoices can be accessed from any internet-enabled device, such as your smartphone, tablet or laptop. Whether working from home, off-site or travelling interstate, you can instantly access important and critical information wherever you are.
Using a standard browser or by downloading a dedicated app, FileBound's responsive design technology allows accounts payable staff to work from anywhere, using the device of their choice, while still delivering a secure experience with robust access controls.
One of the benefits of FileBound's accounts payable software (AP automation software) is you can quickly locate and resolve exceptions. Using paper invoices can make it much harder to detect invoice fraud or locate erroneous payments. But with FileBound's AP automation software which uses invoice scanning and is electronically tracked, you can identify an invoice at any time in your AP processes and access it instantly.
Your AP teams can use FileBound's automated workflow to set rules that isolate an invoice and take it out of the AP automation process. Identifying the invoice allows your AP department the opportunity to quickly locate and resolve it or escalate it if required. Once resolved, the invoice continues through the AP automation software payment process, ensuring on-time delivery with no duplicate payments.
FileBound transforms the AP process, whatever your industry. With us, you can move away from costly paper-based manual processes and see greater efficiency results with FileBound's intuitive AP solutions in no time.
A critical factor in ensuring a project stays on time and schedule is invoice management. By managing and tracking invoices and working to a strict invoice approval process, you can save time and money and ensure the project stays on schedule. Combining digital imaging solutions with workflow automation, seamless AP automation software integration and an easy-access electronic records management system, FileBound transforms the construction process and increases project oversight.
It's simple to take control of your information and manage staff and student records with ease with the help of FileBound's suite of solutions. You'll find it's possible to reduce storage costs and eliminate paper by utilising image capture using optical character recognition and electronic forms. By using FileBound's AP software, you can connect multiple systems and bring information together in one place with intelligent integration.
Banking today is a far cry from what it was even a decade ago. What once was virtually an entirely manual process is today an automated one. Loan approvals, cheque cashing, and credit transactions are no longer tedious time-consuming operations. And, just as the systems have changed, so have the processes and document management behind them. Not only does our suite of solutions assure compliance with federal regulations, but they also streamline workloads by transforming processes that once took days into simple tasks that require just minutes.
Bring separate dealerships together with a single solution for storing, managing, and paying invoices across multiple locations. The good news for automotive dealers is that modern technologies can transform their business processes and accounts payable automation. Utilising Cloud and Mobile technologies, a dealership can now access their critical documents from any geographic location on the device of their choice. Within minutes, these documents are securely available in FileBound Cloud from any device or geographic location. What could be simpler?
FileBound delivers all the information you need in a single dashboard. Having all your invoice data in one place means less searching, less processing and more results for you and your staff.
Using FileBound Capture as part of your AP automation process eliminates labour-intensive data entry by digitally scanning all invoices and documents that come into your business. Capture pre-populates critical information and validates as invoices, contracts, and other documents received.
A manual exception processing component allows staff to manage exceptions at the source before progressing along the AP process. This not only frees up your staff for more high-value work but also saves valuable time, reduces storage costs, makes it easier to locate documents when needed, and makes payment cycle times simpler.
With FileBound's Document Management System (DMS), accessing documents no matter where you are has never been easier. It also features robust security and document control features. Meaning you can control access to sensitive information, such as confidential contracts and assign specific roles to ensure records can only be actioned by approved staff in your AP department.
You can control security rights around the functionality available in the system, including printing, emailing, or editing documents, to protect your records and maintain maximum security. You can even assign roles to ensure that invoices are only actioned by approved staff. Quite simply, FileBound is the best AP automation solution for your business accounts payable processes.
Meet agreed payment timeframes, reduce the change of human error, and minimise the burden of compliance by using FileBound's document routing and automated workflow features to streamline your processes. When you limit the amount of manual processing needed and build custom workflows that embed compliance checks into every method, you create secure and reliable AP automation, ensuring peace of mind for you and saving valuable time for your staff.
AP automation solutions can also automatically route documents to approved delegates for sign-off, which means you know that your financial systems will be robust and secure. Enhance visibility with a full view of current certifications and clearances for all staff and contractors. Build-in checkpoints to allow staff to verify details and ensure all required documentation is in place before moving to the next approval point. Create reminders to alert you to upcoming expiry dates meaning you'll never miss any early payment discounts. With FileBound's drag and drop functionality, AP automation will be a breeze.
FileBound seamlessly integrates with leading accounting systems to simplify your accounts payable process.
RDO set out to find a better way to manage supplier documentation, including centralising and adding visibility to their cash flow process. They needed a solution that provided consistency, transparency and easy access to documents from any location. Working to a tight schedule, FileBound delivered an AP solution that met RDO's needs within six weeks, eliminating the need to transfer documents and reducing the supplier payment cycle from an entire month to just three days.
Leaders in the agricultural sector, RDO Equipment has created ongoing partnerships with some of the nation's most productive farmers plus trusted suppliers like John Deere, HINO, Toyota, Manitou and Howard. To support these partnerships, RDO wanted to improve the management of supplier documentation, including centralising and adding visibility to the cash flow process.
In 2014, RDO began searching for a centralised workflow and document management solution to help with accounts payable (AP) processing. They identified several priorities, including consistent processes, transparency and easy access to documents from any location.
Experienced in providing a range of AP, document management and workflow efficiencies, FileBound Solutions laid out a comprehensive, well-planned implementation strategy, which proved crucial in helping RDO develop the required solutions to address their challenges.
“Where once we only had a monthly solution for supplier processing, that process has been cut down to a two to three-day cycle.”
FileBound Solutions worked with RDO to streamline their business processes and map how the information would integrate with their ERP system. This eliminated the need to transfer invoices, introduced a consistent process and enabled instant access to all documentation.
FileBound's workflow automation and document management solution gives transparency and immediate access to supplier documents. As a result, every dealership and service location can now access all warranty documentation and place claims instantly for their customers.
“FileBound has been a great tool for us - not only because of the improvements it’s already offered us,” Jones says. “It can be implemented in several departments at RDO; we started with AP and Warranty/Claims, but I’d like to see it used to track our fixed assets and CapEx projects.”
Unnecessary bottlenecks have been removed, allowing invoices to be paid on time, and reducing the order to approval process time by 90%. Following implementation, RDO has achieved annual cost savings of over $80,000. These savings can be attributed to reduced labour costs, access to previously inaccessible discounts, lower document storage costs and decreased stationery and postage costs.
FileBound's custom solution has helped RDO eliminate missing and duplicate invoices, limiting late or duplicate payments. In turn, this has resulted in happier suppliers and fewer customer service calls, strengthening RDO's relationships with their trusted partners.
All documents are accessible to anyone in any location
Documents are traceable and can be actioned faster
Digital documents are automatically routed
Let's talk solutions! Get in touch to discover how FileBound can transform your accounts payable process to drive success in your business.