15. 12. 10
posted by: FJDA

Increase Business Strength and Revenue – Bridge the document processing gap

Some of the biggest challenges facing financial professionals and their clients is the tedious collection of documents and data needed to provide accurate bookkeeping, accounting, and auditing services. It is often a painstaking and costly manpower process for your business and your clients business as well.

Recommending solutions and services for your clients to help improve business practices and increase revenue is a win-win. Digital Writing C2P is a proven way to streamline the collection, validation and processing of in-take and transnational documentation eliminating 70%-90% of the time and money associated with repetitive mundane tasks for pennies a day.

AIIM’s survey “the average cost to process one document is $4.56”

Digital Writing Tablet or Pen technology increases document accuracy, increases productivity and profit for a fraction of an office assistants’ salary. No limit on the number of forms, documents or data used, no change to existing forms, no change to systems or applications and no complicated training required.

The chart below highlights costs associated with the collection and processing of business documentation before any other business processes can be performed.

Docuemnts/Day Cost/Day Cost/Month Cost/Year
1 $4.56 $136.80 $1,641.60
10 $45.60 $1,368.00 $16,416.00
100 $456.00 $13,680.00 $164,160.00
1,000 $4,560.00 $136,800.00 $1,641,600.00
10,000 $45,600.00 $1,368,000.00 $16,416,000.00
100,000 $456,000.00 $13,680,000.00 $164,160,000.00

 

You quickly begin to see that document collection and processing is a formidable cost for any business and depending on how your firm receives client documentation, your employees will perform similar tasks at the same or higher cost. Steps to improve business workflows and processes can begin right on the front line -- ensuring all mandatory information (content, data and documentation) is captured, validated and delivered in real-time to the appropriate workflow process flawlessly so critical back-end work can begin with ease, accuracy and with virtually no user intervention.

Each time an employee interacts with a document it costs time and money and has a negative impact on revenue. The example below shows the common steps every business performs to process incoming documentation.

 

Step One

Field or front-line employees fill out necessary  documentation and returns to the office

Step Two

Office employee validates documents checking that “T’s” are crossed, “I’s” are dotted, calculations, shipping, taxes are accurate

Step Three

Data entry into one or more applications

Step Four

Documents move to next step in the workflow (accounting, fulfillment, production, support, billing, etc.) where other employees perform similar actions before the document is completely processed

Step Five

Documents are scanned or filed away

 

In this simple example, there could easily be two or more employees interacting with the same documentation performing similar tasks. As each employee interacts with that document processing costs increase.

Using the Digital Writing Digital Pen (for paper documents) or Tablet App (for paperless processing) your documents are collected and processed no matter where you or your clients do business; no scanning, no data entry, no repetitive tasks and no missing information. Use existing forms and documents AS IS, work On-line or Off-line. Digital Writing is simple to use and can be managed by anyone in the office with virtually no training.

Digital Writing C2P bridges the gap between documentation and business applications like QuickBooks, Sage, Peachtree, etc. by automatically digitizing documents and data, which can be simultaneously shared with any business application.  This makes the business process more efficient and employees more productive.

Eliminate the bottlenecks, costly touch-points and user intervention that stifle efficiency, productivity and profitability for both your business and your clients business. Digital Writing C2P makes document processing, document management, compliance and auditing hassles a thing of the past.

 

Additional Resources:

 

FJD & Associates, Inc.
Westbury, NY
General Inquires: info@fjdassociatesinc.com
Partner Inquires: partners@fjdassociatesinc.com
P: 516 665-0144
www.fjdassociatesinc.com

 

Digital Writing C2P (Capture-to-Process) Solutions