Bank Achieves AP Process Improvement with Cloud-based Digital Workflows and Secure Document Storage

Southeast National Bank implemented DocuWare, a modern document management solution, to digitize its own accounts payable process. The results: invoice approval time dropped from one week to a few hours positioning the company for future growth without the need to add staff.

Southeast National Bank (SENB) is a regional bank with 5 branches and 65 employees, offering a full range of banking services. 

Requirements

For their accounts payable department, SENB relied on a time-intensive paper-based system of making copies and shipping documents between branches for approval. The bank was ready to improve their accounting processes and streamline their workflow, so they contacted their IT vendor who evaluated their processes and suggested DocuWare Cloud because it offered them the flexibility, security and the quick onramp time they were looking for.

Solution

Working with an Authorized DocuWare Partner, the bank’s workflow was evaluated and a simpler process was developed using DocuWare Cloud. Employees were brought together for a training session and everyone quickly got onboard. Today, invoices and other accounts payable documents are routed through a digital workflow and approval process using electronic stamps. DocuWare interfaces with the bank’s general ledger software, Phoenix, and an accounts payable software, Banktel Systems, to streamline the entire process.

“When our vendor recommended DocuWare Cloud, we thought that was a good fit for us because we are very comfortable with the cloud software model and the security it offers our information,” said Don Schlorff, CFO and COO of Southeast National Bank.

Benefits

The bank’s entire accounts payable process changed for the better. Their old process was labor and time-intensive requiring them to make copies and ship them from branch to branch. Today’s process is very transparent and invoices are never “lost” in transit or left on someone’s desk.

“Our invoice approval process used to take a week, now it’s done in a few hours. Time savings is the biggest benefit DocuWare Cloud has brought us, plus knowing that our process is now so much more efficient, secure and searchable,” said Schlorff.

With DocuWare in place, Southeast National bank is positioned to grow without needing to add more staff. Additionally, the accounts payable person has been able to take on other responsibilities, allowing the company to leverage their human resources.

Conclusion

“DocuWare is so flexible it could really do anything; we started with it in the accounts payable department because moving to a digital system is what had to happen. We have been very happy with the results and will look for other areas where DocuWare can streamline our processes,” said Schlorff.

DocuWare Corporation | 4 Crotty Lane, Suite 200 | New Windsor, NY 12553        (888) 565-5907 | www.docuware.com