Accounts Payable departments have a vast amount of documents compiled during the course of doing business such as invoices, tax reports, checks, payroll and vendor payment. This information could be stored in electronic files, microfiche or paper. As organizations look to control costs and gain competitive advantage in an uncertain economy, streamlining these manual, paper-intensive accounting processes is an ideal starting point. Paper invoices, electronic files, supporting documents and electronic transactions can create block points in your organization.

Unfortunately, 60-70 percent of transaction processing time is spent getting paper ready for data entry, locating invoices and other supporting documentation, such as proof of delivery documents and purchase orders for any issues that may arise. As a result, most companies have not realized the full benefit or return from their investment in ERP or financial system. Businesses can eliminate costly manual processes within the accounts payable department and turn them into areas of return on investment (ROI) by adopting FutureTech's AP Best Practices in outsourcing.

FutureTech works in conjunction with our clients to understand their specific accounts payable process. After current procedures are analyzed and documented, FutureTech designs an enhanced and more efficient accounts payable process by considering key components like compliance requirements, document retention, real-time access to original documents, disaster recovery and security. The process enhancements typically involve back-end imaging for storage and retrieval, front-end solutions for more cost effective data entry and workflow for efficient routing for approvals. Each step moves the client to a secure, automated, and more efficient AP model.

Solutions for Managing Paper Invoices
Using our suite of integrated solutions, FutureTech can convert paper based invoices or any format (fax,email,XML,EDI, pdf) and load them into your ERP system, so 100% of your invoices can be processed electronically. This process begins by allowing FutureTech to manage incoming mail services for your Accounts Payable department. FutureTech can retrieve inbound Accounts Payable invoices (through PO Box or daily pickup), scan, key and return the digital images and data to a client within specified turnaround times.

FutureTech's AP best practice model also involves matching the customer's Accounts Payable system to our scanned images. Through various methods of automation, FutureTech eliminates the need for manual keying of indexes, thus drastically lowering the customer's costs while providing them any and all index fields to retrieve images. Through FutureTech's proprietary quality control processes, we audit our scanning and data entry work to provide high assurances that all invoices entered into the Accounts Payable system have been properly scanned and stored on the imaging system.

FutureTech's check matching process can also help you merge an electronic copy of your checks and cleared checks to your invoices. You can view all invoices paid by each check in one glance for vendor inquiries. FutureTech does this by imaging paper checks or taking an electronic copy of your check, importing it into our imaging solution and linking it to all imaged invoices that apply to that check. Once the check clears the bank, we can take the images you receive electronically or scan the hard copies for you, front and back, index and import them into your system so everything from invoices to checks to remittance advices to cleared checks can be retrieved from one location at your desktop. AP personnel will reduce time spent in managing vendor disputes.

FutureTech's online archival and retrieval solution transforms a scanned image into real-time access to all current and historical data. This delivers a fully automated accounts payable solution, with no capital investment required.

• Reducing the cost to process AP invoices by 40% or more per invoice with no capital investment.
• Enabling clients to gain access to vendor discount terms associated with faster payment by reducing the time from invoice receipt to pay cycle.
• Diminishing internal and external audit costs, by allowing efficient access to current and historical documents.
• Granting customers peace of mind by providing disaster recovery
• Offering integration with all leading ERP and enterprise wide financial systems such as SAP, PeopleSoft and JD Edwards.
• Providing immediate access to paper invoices by digitizing them to streamline audits and provide faster dispute resolution.
• Enabling you to centralize your shared services accounts payable function with access to invoices from any location via the Internet.
• Unparalleled focus on security and accuracy.