Firms Reduce Accounting Costs With Open Scan’s Latest Accounts Receivable Solution

By Author: WSI ALM
Total Articles: 27
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Through the use of cutting-edge accounting automation systems, companies can not only reduce the cost of running their accounting departments but also improve the accuracy of the data within their systems. Many companies are now transforming their accounting department from a labor-intensive, high-cost area of their business into an effective element within the company infrastructure through the use of products such as the accounts receivable solution from the experts at Open Scan.

Open Scan Technologies Inc. pioneered accounting automation technology more than ten years ago. The company has established a reputation by building a solution that has helped businesses, both large-scale and small, from around the globe to streamline their in-house accounting processes. Traditionally, companies only had two options when it came to processing their receivables. They could outsource their processing to a bank lockbox, where they would be charged exorbitant keystroke fees, or they could hire accountants to process data in-house. Both of these options are costly and inefficient.

Open Scan’s automated accounts receivable ...
... solution is the ideal high-functioning alternative. The Open Scan software has been designed and engineered to ensure that clients can open, scan and extract key information from incoming documents and payments for superior data accuracy. In case studies based on the company’s accounts receivable solution, clients have reported accuracy levels of 99.97%, which are almost unheard of within the industry.

Accounting professionals tend to be over-worked when utilizing manual systems. This can lead to employees becoming stagnant within their position and ultimately not performing to the required levels needed for the organization. By implementing automated systems, companies can provide their accounting specialists with a superior tool to handle their work with more efficiency, which then has a carry over effect on their level of happiness within their work. Accounting professionals also tend to be the financial wizards of the company meeting room. Companies that give these professionals the tools to make their administrative work easier and faster to complete allow their expert staff more time to focus their intelligence on other areas of the business, leading to more effective strategies for company growth. This is yet another reason why so many organizations are now turning to accounting automation to improve their in-house efficiency.

Another area in which Open Scan is helping to improve efficiency is in companies who primarily utilize electronic applications. Open Scan leads the industry within this field as their Open Scan Electronic Payment Module preprocesses, matches and standardizes data coming from a bank before it ever enters the company’s ERP system, thereby reducing the required work for in-house staff and streamlining the entire electronic payments process for increased organizational efficiency. Through the utilization of the Open Scan Electronic Payment Module, companies can also improve their relationship with their customers and their compliance with industry reporting standards.

Companies that really benefit from the Open Scan solution process hundreds of customer transactions per week. If that process is a part of your business, then make Open Scan your business partner for accounting automation solutions and help your business to move forward into a new model of superior in-house efficiency and consolidated capital expenditure. Contact the organization today to speak with a qualified technical specialist about your company’s accounting needs or visit Openscan.

Based in Denver, Colorado, and founded in 1998, Open Scan is a privately held software and services company. In addition to our innovative software that can be “taught” in a matter of seconds rather than cumbersome “learning” centric models, Open Scan brings to its clients best practice subject matter expertise in receivables and payables processing. Website at www.openscan.com.