We’ve all seen the credit card company ad that begins with customers dancing their way through the checkout line, only to be interrupted by the curmudgeon (or tennis geek) who insists on paying with outmoded paper payment. Everything screeches to a halt as the customers wait impatiently for a payment to process.

Similarly, companies are investing substantial resources in complex financial accounting software. Everything is going smoothly. International transactions occur at the rate of thousands per second. Companies interacting with each other in real-time across continents, and in board rooms across the country, companies talk passionately about their automated and improved efficiency.

But in the backroom, away from the view of the public, companies are mired in paper. Documents such as invoices, checks, credit applications, purchase orders, correspondence and even credit card numbers are sitting in file folder in desks, file cabinets or in storage.

In spite of…

Here are some highlights from a press release we at Metafile recently put together to show that, although the advantages of document management, workflow and einvoicing are evident every day, if you are now dealing with paper-based year-end duties, your holidays are not near as jolly as they should be.

Metafile, a content management firm dedicated to providing streamlined financial innovations, is helping firms avoid the mad scramble of a year end spent locating and gathering all documents necessary to adequately close out their books.

The lack of workflow automation solutions, in most instances, will equate into a significant loss of Days Working Capital (DWC) for all too many firms (and a significant loss of holiday cheer for many AP Managers!).

“The mad dash stemming from closing out the books at year end is a symptom of something much greater,” states Jim Mandt, Metafile’s VP of Technical Support….

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