OCR Increases Accounts Payable Productivity
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Used with permission from Integrated Solutions magazine
Employee-owned Industrial Electric Wire and Cable Inc. (IEWC) (New Berlin, WI) is a distributor, processor, and manufacturer of electronic and electrical wire and cable. This $100 million company recently began an effort to maximize the productivity of its 200 employees. By automating part of its freight invoice processing with data capture software, it increased the productivity of its accounts payable (AP) department 90%.
When IEWC began streamlining its internal processes, Mark Sonnentag, information services manager for IEWC, knew the AP freight invoice process would be a good candidate for automation. At the time, freight invoices were manually processed. Every Monday, an AP employee would spend the entire day opening the mailed invoices, sorting them, entering the information into IEWC's SAP system, verifying the entered information against the transactional data in the SAP system, and then paying the bills.