There comes a tipping point for every company, where manual hard-copy invoice processing becomes too inefficient to continue. The accounts payable (AP) processes today are mostly archaic involving a lot of manual steps and paperwork, which significantly slow down the services to clients and result in the CFOs lacking visibility into the company’s financial workf low. This, in turn, gives way to intuition-based decisions rather than judgments based on real data. “Automation proves to be the key in helping businesses ride the gravy train by eliminating repetitive manual tasks, ensuring proper workf low visibility, and resulting in productive decision making,” says Richard Rosenthal, Co-Founder of PICS. Being an acclaimed business process automation and IT outsourced managed services provider, PICS automates the labor-intensive and error-prone AP documentation processes to help companies reduce costs and improve efficiency.
With over two decades of technical expertise and business acumen in automating AP processes, PICS, with the right people, strategy, and tools, has developed DocLib, a business process automation solution that automates the entire AP document process, reduces labor costs, and streamlines the manual business processes. On average, AP processes deal with a surfeit of documents, both paper and electronic, which are hard to be managed manually. Based on the client requirements, DocLib automates the AP business process, by eliminating data entry, verifying the accuracy of supplier invoices, automating their approval and saving the client time and money, as well as improving their supplier relations. “Our core expertise is at bringing a different level of efficiency to a manual process and getting control over our client’s labor expenditure, either by automating a purchasing request, or providing visibility into the payment of suppliers,” says Brian Atchison, Chief Revenue Officer at PICS.
With the power of real-time decision making and data verification, PICS helps the accounting departments to have a seamless operational flow by readily matching the incoming invoices against the purchase order (PO).
From receiving to verifying, the process of tracking PO invoices is a hassle involving numerous steps crucial in maintaining accurate financial records. With manual invoice processing causing delays in payment; adoption of automation practices for receiving and storing invoices is the answer to help improve process visibility, productivity, and cost-effectiveness. PICS provides a monthly software service for the clients to facilitate the automation of the plethora of documents from different departments. PICS matches the PO invoice with its respective supplier information, pack slips, and shipper bills with outstanding percent accuracy. This allows the AP team to gain visibility into all the required documents for making informed decisions prior to paying the invoice.
DocLib easily integrates with a business’ existing Enterprise Resource Planning (ERP) systems eliminating the need for a lengthy implementation engagement to optimize various departmental workflows based on business requirements. PICS also easily integrates with QAD, QuickBooks, and other financial packages enabling their clients to get their invoices paid on time.
Our core expertise is at bringing a different level of efficiency to a manual process and getting control over our client’s labor expenditure
Besides AP document process automation, PICS also has its focus on the unique manual business processes challenges for manufacturing, healthcare, and food and beverage, among others. After achieving success in streamlining the AP processes, DocLib has now set its foot in other areas such as customer service, HR, and purchasing. PICS has found the long pole in the tent, which is a single document management solution for the whole organization that can facilitate and meet the needs of all their different departments.