From: Integrated Solutions
By: Ken Congdon

Document Imaging and OCR (optical character recognition) helped $1.8 billion Fastenal maintain growth by increasing the document processing productivity of its accounting department 60%.

The following article explains how technology and OCR can help a company cut costs, increase their productivity and allow them to grow without adding headcount. However, not all companies can afford the large capital expenditures and IT investment typically associated with these projects, not to mention the additional staff to hire and manage. DataServ On-Demand™ solutions result in a fast ROI (return on investment), offering all the benefits of a purchased system without the large capital expenses, time allocation, additional IT staff and scanning resources. We do the work, offering superior ongoing service and support for all client relationships. Our solutions implement with any ERP system and are tailored to fit each client's needs.

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DataServ, the leading on-demand service provider of document management, workflow and outsourcing solutions, announces that our company continues to grow with multiple new hires in Q2.

Charles Settle has accepted the position of Document Solutions Developer. Settle will be responsible for development and support of custom web and back-end software built to support tailored DataServ client solutions and reliable internal operations. His strong technical background and expertise in .NET programming and SharePoint portal work makes him a valuable addition to DataServ's Software Infrastructure team. Charles brings with him experience in various consulting positions with Levi and Ray & Shoup. Charles holds 3 Microsoft certifications: Microsoft Certified Application Developer (MCAD) in .NET, Microsoft Certified Solution Developer (MCSD) in .NET and Microsoft Certified Professional (MCP).

Courtney Collier has accepted a position of Document Solutions Specialist. Collier will be responsible for supporting DataServ's systems, handling technical client issues and implementing DataServ's On-Demand document management solutions. His wide variety of skills makes him a valuable addition to DataServ's Software Infrastructure team. Collier joins us from Professional Environmental Engineers, where he served in various technical capacities.

Michael Bills has accepted a position of Associate Document Solution Consultant. Bills will be responsible for delivering superior client satisfaction by building and supporting DataServ client solutions. He will interface with various groups within DataServ as well as the client. His extensive consulting background makes him a valuable addition to the DataServ IT team. He brings with him extensive IT consulting experience from companies including Monsanto, Metro and May Corporation, where his duties varied among database administrator, programmer, telecommunications and project manager.

Members added to DataServ's Imaging Operations department include Hannah Auer, Monica Frank, Allen Settle, Brianne Ross, Alisha Bunch and Thomas Holmes.

"As we continue to grow with the addition of new clients, we're grateful for the need to add talent to the DataServ team," says Jeff Haller, CEO. "We are dedicated to continue to provide the best solutions and services possible to our clients."

DataServ offers a hosted solution to help your company improve payment processes, making the transition easy and quick. However, if you choose to take on the project internally, below is some information that will be helpful to keep in mind.

Making a business case for new AP technology is crucial if you want to get the project funded. An important part of the case is showing the Return on Investment (ROI) of the project. We recently asked AP managers who implemented an invoice imaging system what cost and benefit components they used in making their business cases.

Costs: The most common cost component is the direct investment in hardware and software systems, although software is not accounted for separately from the scanning equipment in all cases. AP managers generally understand, too, that maintenance costs are an important part of overall system costs, and must be budgeted.

Three other cost elements were included by a majority of respondents in their ROI calculations: staff training, staff time, and management time. A changeover to a new system invariably requires time and expense for each of these items, although the specific amount of time and cost may be difficult to estimate.

The final expense element was payments to outside consultants. Although the overall use of consultants in AP is relatively low, nearly half of companies that prepared a budget for an imaging and workflow initiative included the cost of professional advice in the plan. This suggests that many AP managers recognize the value of an experienced advisor to help them achieve the best results and avoid hidden pitfalls during the selection and implementation process.

Benefits: When we asked which benefits figured into their ROI calculations, two factors topped the list: 80% of respondents recognized savings in overhead and invoice storage costs as a result of implementing imaging technology. This cost result was expected, since in terms of space alone, the cost of storing digital images is less than the cost of storing paper invoices.

The next most common benefit of imaging and workflow technology was reduction in headcount, cited by 72% of respondents as a factor in their ROI calculations. The remaining categories, with 40% to 52% realizing some benefit, are a reduction in duplicate or overpayments, fraud reduction and an increase in trade discounts captured due to faster processing and/or superior validation.