Title: Ontario Record Management: Don't Wait For Year End
1 Ontario Record Management Dont Wait For
Year-EndBy Kevin DArcyVice President of
Sales Marketing
2Peace of Mind Not Pieces of Paper
- For many of you who are familiar with Ontario
record management this presentation may seem
counter-intuitive to some document management
solution offerings, and Im sure if any document
management companys conversion services staff
read this I would get an ear-full. But at the end
of the day an Ontario record management companys
goal is to provide peace of mind, not pieces of
paper, in other words, theyre problem solvers
no matter what the solution may be. - It happens around this time every year
companies fiscal year-ends are here and they
look back at the cabinets and boxes of accounts
payable and account receivable documents they
have collected over the year and they want to
scan them. Fantastic! I always applaud those
organizations who want to manage their
information electronically That is if there is a
business case for it.
3Record Management Sales Call
- A typical sales call for this applications goes
like this - Ontario record management solution provider So
tell me about the challenges youre facing
managing these documents in paper form -
- Client Well were running out of room
- Ontario record management solution provider
Aside from real estate, what other challenges
are you facing? Do retrievals take too long? Are
documents going missing? Are vendors not getting
paid on time? Are clients stretching out their
terms? - Client No not really. Its just space. By the
time the documents get to these cabinets, their
inactive (read paid, received, processed,
etc.).
4Business Cases For Record Management
- Here in lies the problem, and would explain why
the majority of these clients nearly fall out of
their chairs when they find out scanning 100
boxes is going to cost more then a 100.00
Theres no business case, there is no challenge
or pain, and storage space will always be less
expensive then scanning. - That being said, accounting departments have one
of the strongest business cases for Ontario
record management, the problem is most of them
are looking to implement the solution at the
wrong phase. AP and AR documents are some of the
most actively handled in a company. They are
passed between departments, they require
verification, processing, multiple approvals,
line item matching, follow ups, signatures, etc.
etc. all of these steps are said and done by the
time the files reach the cabinet. At this point
there is nothing left to automate, there is
virtually no time-savings and there is no room
for process improvement.
5Implementing Record Management
- If we look at interjecting Ontario record
management at the beginning of cycle this
business case is clear for most organizations.
For less than the cost of most back-file
conversion, organizations can implement and
electronic document management solution which
would allow for - Electronic document import of AR documents (no
more paper) - Automatic emailing of invoices, POs, etc.
- Automated processing and indexing of both
structured (AR Invoices) and unstructured (AP
Invoices) - Matching if scanned documents to existing files
within the system (i.e. singed packing slips
automatically being matched up with
the corresponding order documents) - Electronic workflows for AP approval processing
and much more.
6Implementing Record Management
- Dont get me wrong, Ontario record management
companies love to scan back-file collections and
sometimes there is a very clear cut business case
to do so but interjecting Ontario record
management at the beginning of the accounting
process makes it simpler, faster and more
customer service focused. -
- Contact your local record management company for
more information about how their services can
benefit your business.
7About the Author
- Kevin D'Arcy is VP of Sales and Marketing for
MES Hybrid Document Systems, Ontario's leading
document scanning and document management
supplier. For more information about microfilm
scanners, visit http//www.mesltd.ca/.