Intelligent Capture Solutions: Delivering Business Value
Ephesoft Smart Capture™
- Zia Assessment Service
- Initial Consulting Engagement (ICE)
- Intelligent Document Capture
- 32% more hours are now dedicated to value-add activities
- Tens of thousands of dollars saved thus far on printing and paper costs
- Employees now spend little time on low-value freight invoice payment tasks
- Integrated with existing SharePoint business process
- Streamlined freight invoice management and decreased payment time
A third-party logistics company improving transportation networks and supply chain efficiency.
As a logistics company working to improve the transportation and supply chain management needs of their customers, MIQ had a complicated document processing situation they needed to better manage. Operating in and between 80 countries, hundreds of freight invoices were received daily. They were looking for a way to automate freight-invoice data entry and implement document storage in order to streamline their payment processes. In addition, MIQ was looking for a solution that they could mostly implement themselves and manage internally.
There was a limited amount of content similarities in invoices received from various carriers—with around 90% of them different from one another.
This led to large amounts of manual effort being spent matching invoices to shipments, and entering invoice data. These manual tasks were inefficient and error prone.
The process consisted of printing emailed invoices, handwriting key information on each, routing them through various departments, and then sorting and placing them in filing cabinets. Not only was this time consuming for employees, it later made finding the original paperwork very difficult. In addition, these tasks increased turnaround time for accounts receivable, creating a negative impact on cash flow.
A week-long Zia Initial Consulting Engagement (ICE) determined not only how existing processes at MIQ currently worked, but what kind of efficiencies they were hoping for. Zia determined that MIQ needed a system that was very simple for the end users to operate. MIQ needed the ability to scan invoices, apply metadata tags that would be carried over to SharePoint, and to notify the appropriate departments that the documents were ready for review. Ephesoft Smart Capture was determined to be the ideal solution, thanks to its ability to automatically classify, separate, sort, and extract data from paper, fax, and electronic documents.
Employees from MIQ travelled to Boulder for a week-long training on solutions to ensure a successful implementation and to guide leadership on usage. Zia and MIQ collaborated to create the ideal approach to handle their ECM needs.
A two-part implementation was decided on for two different segments of the business. Zia began phase one of the project creating a system with robust features that were still simple to use. Zia went onsite to quickly and efficiently kick off the project and gather detailed requirements. The priorities were determined and Zia focused on items that would move the solution into implementation the fastest.
Within three months, the first phase of the system was ready to deploy. The second phase was put in place over another three-month period with minimal assistance required from Zia.
MIQ now had the kind of document processing solution they had been searching for.
After having both phases of the solution in place for several months, MIQ has seen strong results. Papers are scanned, emails are uploaded directly to Ephesoft, and notes are recorded there for easy accessibility to applicable departments.
Employees no longer have to print documents, make notations, route them, and file them. Not only does this save in valuable man hours, but also in paper and printing costs. The hours that were spent in these tedious tasks are now used for value-add activities.
Thanks to the automation, there is a decrease in data entry errors and what has been processed and received is now transparent. Meta-data is tagged in Ephesoft and sent to SharePoint through a robust integration, making search simple and reducing document retrieval times. Because the system now moves faster, carriers are paid sooner leading to an improved cash flow.
“We’ve been able to reduce the risk of lost documents, the amount of time spent on document retrieval and filing, the number of data entry errors, and the length of time it takes us to pay our carriers,” said Amy Franklin, Senior Business Analyst at MIQ Logistics.
The solution has worked so well for MIQ, they are now planning for a third phase to further improve their processes.