Accounts payable is just one area of office management where problems arise because of the sheer complexity of transactions, and the vast amount of paperwork that is generated.
A disproportionate amount of time and administrative resources is consumed just getting invoices approved for payment. The problem becomes compounded when invoices are lost when being circulated for clearance and even more time is then lost in the retrieval process.
Typically these documents include purchase invoices from suppliers, sales invoices to customers and purchase orders generated by customers.
Even if missing documentation is successfully recovered from the system, the delay will have caused major inconvenience. If it is not recovered, the effects on business are routinely disruptive, and in extreme cases, disastrous.
TokOpen is a powerful document management and workflow software solution that goes far beyond conventional document capture and storage. Uniquely flexible, the package allows systems to be configured to meet customers' specific needs.
How TokOpen works
Automated data entry allows invoices to be scanned, indexed and stored in the system, avoiding time-consuming manual entry. Automated reading can take two forms: either header reading (reference number, client name and amount); or full line item reading. Alternatively, invoice information can still be entered manually if required.
Once in the system, invoices are electronically routed through a workflow process that includes notifying all authorised staff when an invoice is waiting for their approval. Online reports are automatically generated where invoices awaiting approval are delayed or missing. These reports are configurable, so they can be set up to cover other factors critical to successful payment completion.
Internal security is built into the system, and access controls ensure that only authorised staff can open invoices or related documents. Audits are automatically maintained on all documents as they progress through the system, so each time they are accessed or amended, time, date, identity and activity details are logged.
Where associated documents are in the system, these are stored in the same file alongside invoices so they can be located quickly and easily. Access can be gained from other systems, in which case folders and documents are displayed in a standard Web browser.
Invoice approval is integrated with the rest of the accounts payable process, and invoices can be accessed via systems like SAP or JDE.
TokOpen in action ? a case study
TokOpen is currently being used by a major Japanese multi-national, with multiple office locations in the UK. One office processes purchase invoices for all the other offices in the UK, and they are initially processed using the Oracle Financials system. For all new invoices, a barcode is generated and attached to each document.
An Accounts Clerk then scans all documentation into TokOpen. This is carried out from a dedicated scanning and indexing workstation, using TokOpen Sorting Office.
All documents are stored here and then uploaded on a daily basis to the TokOpen server, which is at another UK office location. Sorting Office reads the barcode and then looks up the original data in Oracle to extract additional index data such as invoice number, supplier number and site code.
Standard browser access
Most documents are retrieved via the users' standard Web browser, using TokOpen Web, and a total of 260 staff use this means of access. A restricted number of users also have access to the TokOpen Desktop, and access is provided to individuals based on an approval hierarchy.
Invoices are handled using an efficient electronic workflow process. Once scanned, Invoice Status is set to Invoice Received. TokOpen ensures that users can only view documents that have been assigned to them in a particular workflow.
A strict authorisation hierarchy is in place, based on the size of the invoices being handled. So if a member of staff attempts to authorise an invoice that exceeds their authorisation limit, TokOpen automatically routes it to a staff member at the next authorisation level. This continues up the authorisation hierarchy until the invoice reaches a member of staff who has had clearance to sign off that invoice value, and payment is completed.
TokOpen brings together powerful and efficient document management, with easy-to-use, Web-based access.
Tokairo is an international provider of Document Management (TokOpen) and Education systems solutions (TokAM). Tokairo has its headquarters in the UK, with a sister company in the USA responsible for the Americas. http://www.tokairo.com REF=TO2EZ
Microsoft PowerPoint has dramatically changed the way in which academic... Read More
In the case when you represent mid-size or mid-size-to-large business,... Read More
Although statistics often is blamed for various deadly sins --... Read More
I have recently created my first Php program. I wanted... Read More
When making a decision to buy any piece of software... Read More
Microsoft Business Solutions Great Plains has Project Accounting module where... Read More
The destruction of the Soviet Union about 15 years ago,... Read More
Looks like Microsoft Great Plains becomes more and more popular,... Read More
It is really interesting that a bug can create problem... Read More
Remember old good days when your company probably had Great... Read More
Manufacturing in the USA is far away down from mid... Read More
Language development computer: Computer-based method for aiding language development seems... Read More
Healthcare facilities such as clinics, hospitals, and biomedical laboratories can... Read More
Microsoft CRM is new player on the CRM software... Read More
This is a short article, written in question/answer/FAQ style to... Read More
Former Great Plains Software Dynamics/eEnterprise, and currently Microsoft Business Solutions... Read More
If you have Microsoft Great Plains as main accounting and... Read More
I completed an experiment recently. I wanted to find out... Read More
So, why should you use any O/R mapping tool? I... Read More
We were recently faced with a decision: either to let... Read More
Microsoft Business Solutions Great Plains is very generic accounting application... Read More
Spyware and malware are large problems for Internet users today... Read More
Customer Relationship Management or CRM is a combination of enterprise... Read More
Are you a database professional? Do you work with a... Read More
According to a survey conducted by InfoTrends/CAP Ventures entitled "Content-Centric... Read More
Many Webmasters have never bothered to view their website's server... Read More
Research bears that less than 70 percent of development projects... Read More
Microsoft Business Solutions Great Plains is very good fit for... Read More
Microsoft Business Solutions CRM and IBM Lotus Notes Domino, being... Read More
We would like first emphasize the change in the paradigm.... Read More
While Adobe is the most known maker of PDF tools,... Read More
Whether you are a small consultancy firm, a medium sized... Read More
If your company has regional and worldwide operations, you might... Read More
An operating system (abbreviated OS) is essentially the path through... Read More
Although we don't know whether Microsoft ever envisioned such a... Read More
It is really interesting that a bug can create problem... Read More
This article will not attempt to advocate the use of... Read More
ERP is the acronym of Enterprise Resource Planning. Multi-module ERP... Read More
The intuitive algorithm.Roger Penrose considered it impossible. Thinking could never... Read More
Before being able to choose a secure Internet communication system,... Read More
Stealing company information used to be the specialty of spies... Read More
Just imagine: you are walking, say, towards your car, and... Read More
Most people don't use Photoshop to its fullest capabilities. Here... Read More
With any good luck and a good amount of hard... Read More
The Internet is reshaping every form of communications medium, and... Read More
The most important things you can do for your computer... Read More
NOTE: Please take time to read on - it may... Read More
We would like to give you pluses and minuses of... Read More
Trying to figure out a stream in banning one email... Read More
Microsoft Business Solutions Great Plains is marketed for mid-size companies... Read More
Running Applications in Compatibility Mode With Windows XP, you can... Read More
If you are in a business that passes documents around... Read More
In our opinion, traditional approach when you select ERP/MRP system... Read More
Microsoft Business Solutions is emerging as very attractive vendor for... Read More
Usually, the easiest way to tell you have spyware is... Read More
Microsoft Business Solutions CRM is now approaching the phase of... Read More
Small can be beautiful! Working with Knoppix for the past... Read More
Stop the Runaway MouseWhat's the "runaway mouse?" You've seen it...you... Read More
Enabling Chinese input is quick and easy, there are only... Read More
Microsoft Business Solutions Great Plains has full-featured manufacturing set of... Read More
Ad-Aware and Spybot are probably the two most well known... Read More
Every organization which creates collaborative documents, whether they are budgets,... Read More
C/SIDE (Client/Server Integrated Development Environment) - The core of... Read More
Microsoft Great Plains has substantial mid-market share in the USA... Read More
Microsoft CRM is winning market share step-by-step from such the... Read More
What is a Web Database?A web database is a database... Read More
Software |