I wanted to do some before and after comparisons with some of our processes; although we have some obvious and big wins in the operations side, I discovered something really interesting in A/P that I needed to mention. We measured the old way and the new way of processing a single vendor’s invoice; from receiving the bill in the mail through to filing/archiving the paid invoice. It used to cost us $68 as a voucher went through a seven step manual process. Then using Q360 and its automated processes and going paperless we discovered that the cost went down to $14 per vendor invoice going down to a two step process.We only average fifty vendor invoices per month, but that adds up to a savings of $2,700 per month or $32,400 per year. As an interesting side effect, going paperless with Q360 also freed up enough space in their office to add seating for 7 more employees when we removed the A/P filing cabinets.
Able Information Systems Inc.
