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How Digital Workflows Simplify Compliance Audits

March 29, 2024/in Mosaic /by Mosaic Corporation

Compliance audits serve as a crucial checkpoint, ensuring adherence to regulations and standards. However, navigating these audits can often feel like traversing a labyrinth of scattered paper, leading to inefficiencies and uncertainties.

Today we’ll tackle the transformative power of digital workflows, particularly Mosaic’s expertise, in simplifying compliance audits for businesses.

The Pitfalls of Paper Records and Fragmented Search Tools:

Traditional paper-based processes have long been the backbone of many businesses’ operations, but when it comes to compliance audits, they can become a significant hindrance. Here are the key challenges that arise from relying on paper records and fragmented search tools:

Scattered Documentation: In paper-based systems, documents are often scattered across different departments. This makes it challenging to locate and compile the necessary documentation required for compliance audits. Without a centralized repository, employees spend valuable time searching for documents, leading to delays in the audit process.
Manual Search and Retrieval Processes: Searching for specific documents within a mountain of paperwork is a laborious and time-consuming task. Employees must manually sift through files and folders, increasing the likelihood of errors and oversight. This manual process introduces the risk of missing critical documents, which can result in compliance issues during audits.
Inconsistent Audit Trails: With paper records, maintaining a consistent and complete audit trail becomes challenging. Tracking the history of document access, modifications, and approvals is often done manually, leaving room for discrepancies and inaccuracies.
Heightened Risk of Errors and Non-Compliance: The manual nature of paper-based processes increases the risk of errors and non-compliance with regulatory requirements. Misplaced documents, incorrect data entry, and outdated information can lead to compliance violations and potential fines.

The Benefits of Digital Workflows for Compliance Audits:

Mosaic’s paperless workflow automation solutions offer a comprehensive approach to addressing the challenges posed by traditional paper-based processes. Here’s how transitioning to digital workflows can revolutionize compliance audits:

Organized Digital Archives: With Mosaic's solutions, businesses can transition from scattered paper records to centralized digital archives. All documents are stored electronically, ensuring easy accessibility and eliminating the need for manual search and retrieval processes.
Streamlined Retrieval: Mosaic's digital workflow solutions feature robust search functionality that enables quick and accurate document retrieval. Advanced search algorithms allow users to filter and sort documents based on various criteria, such as date, keywords, or document type.
Enhanced Access Controls and Audit Logs: Mosaic's solutions include robust access control mechanisms that ensure secure user permissions and permissions management. Administrators can define user roles and permissions, restricting access to sensitive documents based on job roles and responsibilities.
Integrated Reporting and Analytics: Mosaic's digital workflow solutions offer integrated reporting and analytics capabilities that enable real-time compliance monitoring and customizable reporting for audit purposes.

Businesses can generate comprehensive reports on document status, access history, and compliance metrics. Automated alerts and notifications notify stakeholders of any compliance issues or deviations, allowing businesses to address them promptly.

Industry-Specific Applications of Digital Workflows for Audits:

The versatility of Mosaic’s solutions extends across various industries. In retail, businesses can achieve PCI DSS compliance and streamline inventory and supply chain documentation.

By digitizing transaction records and implementing secure payment processing systems, retailers can safeguard sensitive customer data and mitigate the risk of data breaches.

The healthcare industry is also governed by strict regulations to protect patient privacy and data security, such as the Health Insurance Portability and Accountability Act (HIPAA). Mosaic’s solutions play a pivotal role in facilitating compliance with HIPAA regulations by digitizing electronic health records (EHR) and patient data management.

Find out more about the healthcare industry in our blog about How Paperless Operations Streamline Dental Practices

When it comes to utilities, companies operate in highly regulated environments, governed by environmental and safety regulations. Mosaic’s solutions enable utilities to maintain compliance with environmental regulations by digitizing environmental monitoring data and automating compliance reporting processes.

Implementing Digital Workflows for Simplified Audits:

Embarking on the journey towards digital transformation requires a strategic approach. The first step towards implementing digital workflows is to assess the organization’s current processes and identify pain points.

Mosaic collaborates closely with businesses to conduct a comprehensive evaluation of existing paper-based workflows, document management practices, and compliance processes.

The second step is selecting the right digital workflow solution. With a deep understanding of the organization’s needs and objectives, Mosaic assists businesses in selecting the right digital workflow solution tailored to their specific requirements.

Developing a phased Implementation Plan would be the next step to follow. Implementing digital workflows requires careful planning and execution to ensure a smooth transition from paper-based processes to digital systems.

Mosaic works collaboratively with businesses to develop a phased implementation plan that outlines key milestones, timelines, and resource requirements.

Lastly, ensuring comprehensive employee training and user adoption is key to achieve success. Mosaic recognizes the importance of employee training and user adoption in driving successful digital transformation initiatives.

Through hands-on workshops, online tutorials, and interactive training sessions, Mosaic equips employees with the knowledge and skills they need to effectively utilize the new digital workflow solution.

The Impact of Digital Workflows on Audit Efficiency:

Transitioning from traditional paper-based processes to digital workflows brings about transformative outcomes that significantly enhance audit efficiency. Here’s a detailed exploration of the tangible benefits of adopting digital workflows for compliance audits:

Reduced Stress and Anxiety for Staff:

Paper-based processes often lead to heightened stress and anxiety among staff members tasked with preparing for audits. The manual nature of document management and retrieval can be overwhelming, leading to uncertainty and frustration. However, with digital workflows, employees experience a significant reduction in stress levels.

Employees can quickly access the required documents with just a few clicks, eliminating the anxiety associated with manual document management.

Shortened On-site Inspection Time:

One of the most significant advantages of digital workflows is the ability to expedite the audit process. With all documents stored electronically and readily accessible, auditors can conduct on-site inspections more efficiently.

Digital workflows eliminate the need for auditors to sift through stacks of paper or wait for documents to be retrieved manually. Instead, they can access relevant information instantly, allowing for faster data analysis and decision-making.

As a result, the overall duration of on-site inspections is shortened, saving both time and resources for businesses.

Improved Auditor Satisfaction and Confidence:

Digital workflows not only benefit businesses but also enhance the experience of auditors. By providing auditors with easy access to comprehensive and well-organized digital records, businesses demonstrate their commitment to transparency and compliance.

Auditors appreciate the efficiency and accuracy of digital workflows, which in turn improves their satisfaction and confidence in the audit process.

Long-term Benefits for Ongoing Compliance Management:

Beyond the immediate impact on audit efficiency, digital workflows offer long-term benefits for ongoing compliance management. By establishing robust digital document management practices, businesses create a foundation for sustainable compliance processes.

In conclusion, the adoption of digital workflows, championed by Mosaic, heralds a new era of simplicity and efficiency in compliance audits. By embracing digital transformation, businesses can navigate the complexities of audits with confidence, ensuring adherence to regulations while unlocking opportunities for growth and success.

Discover how Mosaic can help you maximize your ERP investment with paperless document workflows. Schedule a consultation with our experts today!

Best Practices for Integrating AP Automation with Dynamics 365

March 29, 2024/in Mosaic /by Mosaic Corporation

Integrating Accounts Payable (AP) automation with Microsoft Dynamics 365 Business Central (BC) isn’t just an upgrade—it’s a transformational shift that propels organizations towards unparalleled efficiency, cost reduction, and strategic financial management.

In the modern business landscape, where speed and accuracy are paramount, leveraging AP automation becomes a critical component for companies striving to optimize their financial processes.

This post delves into the best practices for integrating AP automation with Dynamics 365, ensuring businesses can harness the full potential of digital transformation in finance.

Introduction

The Importance of Microsoft Dynamics 365 Business Central for Organizations

Microsoft Dynamics 365 BC stands at the forefront of enterprise resource planning (ERP) solutions, offering extensive capabilities for managing finance, operations, and customer relations. Its flexibility and scalability make it an invaluable asset for organizations aiming to streamline their business processes and enhance decision-making.

The Role of AP Automation in Enhancing Dynamics 365 BC

AP automation complements Dynamics 365 BC by automating the tedious and error-prone manual processes associated with accounts payable. This synergy not only accelerates the financial workflows but also introduces a level of accuracy and efficiency that manual processes cannot match.

Understanding AP Automation

Definition of AP Automation

AP automation refers to the technology that automates and streamlines the accounts payable processes, including invoice processing, approvals, and payments. This technology reduces the need for manual data entry, minimizes errors, and speeds up the AP cycle.

Challenges of Manual AP Processes

Delays: Manual processing can significantly delay payment cycles, affecting vendor relationships and cash flow.
Errors: Human error in data entry or invoice processing can lead to inaccuracies, disputes, and potential financial loss.
Inefficiencies: Manual tasks consume valuable time and resources that could be better allocated elsewhere.
Lack of Transparency: Manual processes often result in a lack of visibility into the AP process, making it difficult to track invoices and payments.

Primary Components of AP Automation Solutions

Benefits of Integrating AP Automation with Microsoft Dynamics 365 BC

Scalable Solutions for Growing Demands: Adapts to your business's growing needs without the need for additional staffing.
Improved Accuracy: Minimizes human error, ensuring data accuracy.
Increased Efficiency: Automates invoice processing and approvals, speeding up the AP cycle.
Enhanced Decision-Making: Provides real-time visibility into financial data for better decision-making.
Cost Savings: Reduces operational costs by automating manual tasks.
Unified Data Flow: Ensures a seamless flow of data between AP automation software and Dynamics 365 BC.
Compliance and Audit-Readiness: Simplifies compliance and prepares businesses for audits with organized and accessible financial records.
Improved Vendor Relationship Management: Accelerates payment cycles and improves vendor satisfaction.
Enhanced User Experience: Simplifies the AP process for users, improving productivity and satisfaction.

Choosing the Right AP Automation Solution

Importance of Selecting a Vendor with a Proven History

It's crucial to choose a vendor that has a strong track record with Microsoft Dynamics integrations, ensuring a smooth and successful implementation.

Benefits of a Cloud-First Strategy

Opting for a solution with a cloud-first strategy offers flexibility, scalability, and remote accessibility, aligning with future technological advancements.

Essential Features of an AP Automation Solution

Advanced Intelligent Data Capture: Ensures high accuracy in data extraction.
Low Code/No Code Workflow Engine: Allows for easy customization and adaptability.
Intuitive Dashboard: Provides comprehensive insights into AP processes at a glance.
Cloud-First Strategy: Ensures the solution is future-proof and accessible from anywhere.
Integrations: Seamless integration with Dynamics 365 BC and other critical systems.
Remote Access: Enables teams to manage AP processes from anywhere, supporting remote work environments.

Key Takeaways

Integrating AP automation with Microsoft Dynamics 365 BC presents a strategic opportunity for businesses to enhance operational efficiency, reduce costs, and improve financial decision-making. By selecting the right solution and following best practices for integration, organizations can unlock significant value from their AP processes, driving better business outcomes.

By carefully considering these practices and leveraging the right AP automation solution, businesses can achieve a seamless integration with Dynamics 365 BC, unlocking the door to a more efficient, accurate, and cost-effective financial management system.

Streamline Your Financial Processes: Ready to embrace efficiency and accuracy? Contact Mosaic now to learn more about our tailored AP automation solutions.

Eliminating Human Error: Using AI for Automatic Data Capture

March 4, 2024/in Mosaic /by Mosaic Corporation

Picture this: a single misplaced decimal costs your business a deal worth thousands. Or, sensitive customer data disappears into the abyss of messy filing systems. We’ve all witnessed the havoc caused by the smallest of human errors! These headaches can be a relic of the past thanks to the power of AI. Businesses now have access to groundbreaking AI solutions that drastically improve the way we capture data.

Human error once ruled the business world, wreaking havoc in its wake. Today, AI ushers in an era of precision, banishing those costly mistakes to the past.

AI Techniques for Data Capture

Let’s explore some of the incredible ways AI conquers the limitations of manual data entry:

Natural Language Processing (NLP): Think of NLP as your AI fluent in business-speak. It understands text-based fields like invoice numbers, dates, product descriptions, and even picks out meaning from poorly organized documents.
Machine Learning (ML): Picture your data capture process constantly learning and evolving! That's ML at work. ML algorithms identify patterns in your documents, and over time, the system adapts to recognize different formats and even potential errors.
Robotic Process Automation (RPA): RPA is your tireless digital assistant automating repetitive data entry tasks. Talk about freeing up your employees to focus on work that adds real value to your business!

Benefits of AI-Driven Data Capture

Why should you care? AI-powered data capture brings a wide range of game-changing benefits:

Human Error? Virtually Eliminated: AI doesn't have a clumsy day. It consistently performs with precision, leaving typos, omissions, and misinterpretations behind.
Streamlined Operations = Lightning Speed: Businesses become streamlined powerhouses with AI accelerating every step of data entry. This means faster decision-making and a whole lot more time saved.
Unleash the Savings! Labor costs plummet while productivity soars when AI handles the data grunt work. Plus, you sidestep the expenses of reworking those pesky human errors.
Data Integrity You Can Trust: Clean, accurate data lays the foundation for rock-solid business insights. Imagine a world where your analytics, reporting, and compliance are built on an unerring data bedrock!

Don’t just dream of a more efficient, error-free business – make it happen. AI-driven data capture is the key to unlocking your company’s full potential.

Real-World Use Cases: The Applegreen Story

Let’s ditch the abstract and talk about real results! Applegreen, a major petrol forecourt retailer, partnered with Mosaic and Epicor to transform their operations. Here’s what they achieved:

The benefits didn’t stop there. Applegreen also streamlined store operations, sped up purchase order approvals, and even cut down on the mountain of paperwork that was once a core part of their business. Applegreen Case Study

AI-driven data capture is more than just a fancy trend. It’s your key to unlocking precision, speed, and a competitive advantage in today’s world. The old way of manually entering data simply won’t cut it much longer! Businesses that don’t invest in these cutting-edge technologies are likely to find themselves left behind.

Are you ready to leave the cost of human error behind and step into the future of data capture? Contact Mosaic today and let’s transform your business operations!

Developing Metrics and KPIs to Track AP Success After Automation

March 4, 2024/in Mosaic /by Mosaic Corporation

“AP Automation? Check! Now, how do we prove it’s working?” That’s the million-dollar question on everyone’s mind after investing in Accounts Payable (AP) automation. You’ve banished those pesky paper invoices and manual processes – but is it really saving you time and money? Fear not, those benefits are absolutely real, and the way to quantify them is through some well-chosen KPIs (Key Performance Indicators).

Automation isn’t magic; it’s measurable. Track your KPIs, and the savings will speak for themselves.

Think of KPIs as your automation success dashboard. Let’s dive in and get those metrics flashing green!

Cycle Time Metrics

AP is all about time – how quickly invoices get processed, how long it takes to make payments. These metrics are a speed test for your new automated system:

Days Payable Outstanding (DPO): The average number of days it takes your company to pay those invoices. A lower DPO after automation is a win – it means you're paying on time (or even early!) and potentially capturing discounts.
Invoice to Approval Cycle Time: How long your invoices sit around before someone says "yes, pay this." Automation should slash this time dramatically.
Invoice Processing Time: From receipt to coded and ready for approval – this should be lightning fast now.
Time from Invoice Approval to Payment: After getting the thumbs up, how long to actually cut the check? Automating payment methods speeds this up too.

Productivity Metrics

The point of automation is to make your AP team super-efficient. Time to see the proof:

Invoices Processed per AP FTE: How many invoices each full-time employee handles in a period of time. With automation, this should skyrocket! Evaluate the results through a growth ratio and benchmark them against your pre-automation process. The number of invoices processed per Accounts Payable Full-Time Equivalent (AP FTE) can increase from 25% to 250% per month.
Touchless Invoice Rates: The percentage of invoices that sail through the system without any manual intervention. The higher your percentage, the more time your AP team has for valuable analysis work, rather than data entry.
Invoice Processing Costs Per Invoice: This is the big one! Studies show that the average cost of manually processing a single invoice is between $12 and $30! Automation can reduce that cost by 80% or more! Lowering costs per invoice from $4+ to under $1

Accuracy Metrics

Mistakes cost money and time. Automation isn’t just speedy; it’s also about precision:

Invoice Matching Rates: Does the automated system accurately match invoices to purchase orders and receipts? Catch the percentage of auto-matched to POs/GRNs. Aim for as close to 100% as possible.
Early Payment Discounts Capture Rate: If you have vendors offering those "pay within 10 days" discounts, are you actually making those deadlines more often?
Percentage of Invoices Requiring Manual Exception Handling: Even the best system sometimes needs a human touch. A lower percentage shows your automation is robust!

Analytics for Continual Optimization

Metrics aren’t just about patting yourself on the back – they’re a tool for getting even better! Your payable automation software solutions should provide powerful analytics to uncover:

Summary

AP automation is a transformative investment, and with the right metrics you can prove it! These KPIs provide valuable insights into:

Cost savings: Reduced invoice processing costs, early payment discounts, and a leaner AP department.
Efficiency gains: Faster invoice cycle times mean less time spent chasing paper and more focus on strategic initiatives.
Error reduction: Minimizing duplicate payments, late payments, and compliance issues saves you money.

The key is to establish a baseline before automation, track the metrics diligently post-implementation, and use the data to make even smarter decisions.

Ready to unleash the full potential of your AP automation journey? Contact Mosaic today! Our experts will guide you to select the right metrics, interpret the data, and continuously optimize your processes for maximum ROI. Let’s turn those metrics into a real success story!

From Paper Trails to Digital Dashboards: The Magic of Automating the Purchasing Process

November 1, 2023/in Mosaic /by Mosaic Corporation

In today’s rapidly digitalizing business environment, automating the purchasing process stands out as a vital component in refining financial workflows. By delving into its mechanisms and benefits, businesses can leverage this innovation to enhance their purchase request processes, diminish errors, and ensure a more efficient resource allocation.

The Evolution of Financial Workflows in Businesses

The world of business has undergone a remarkable transformation in recent decades. Gone are the days of manual ledgers, paper trails, and stacks of invoices cluttering the office. With the advent of technology, financial workflows have evolved dramatically. These changes have been driven by the need for greater efficiency, reduced costs, and improved accuracy in managing finances.

The world of business has undergone a remarkable transformation in recent decades, with technology driving the evolution of financial workflows. Automation, a cornerstone of modern financial workflows, has significantly impacted areas like the purchasing process

In this digital age, automation has emerged as a powerful force shaping the way businesses operate. From accounting to inventory management, automation has become a cornerstone of modern financial workflows. One area where automation has had a profound impact is in the purchasing process.

Introduction to Automating the Purchasing Process

Automating the purchasing process involves the use of technology and software solutions to streamline and optimize every stage of the procurement lifecycle. This transformation is highly relevant in today’s enterprises, where the pace of business demands rapid and efficient procurement operations.

Automating the purchasing process involves technology-driven optimization of procurement, addressing challenges of manual tasks. This blog delves into its fundamentals, advantages, and its role in paperless workflows, shaping the future of procurement.

In the past, the purchasing process was often a bulky and time-consuming endeavor. Employees had to manually create purchase requests, obtain approvals, generate purchase orders, and reconcile invoices. These manual tasks were not only labor-intensive but also prone to errors, leading to delays and financial discrepancies.

Automating the purchasing process seeks to address these challenges by introducing a seamless and efficient approach. This blog explores the fundamentals of automating the purchasing process, its key advantages, its role in paperless workflows, and the future outlook for this transformative technology.

The Basics of Automating the Purchasing Process

At its core, automating the purchasing process involves leveraging technology to perform tasks that were traditionally carried out manually. Here are the key aspects:

Definition and Understanding:

Automating the purchasing process is the use of software and digital tools to automate, streamline, and optimize the procurement process from requisition to payment. It encompasses tasks such as purchase request creation, approval workflows, purchase order generation, vendor management, and invoice processing.

Traditional Methods vs. Automation:

In traditional purchasing processes, employees would manually complete purchase requisition forms, which would then require physical signatures and routing for approvals. Purchase orders and invoices were often paper-based documents, leading to delays, lost paperwork, and the risk of errors. Automating this process eliminates the need for physical documents and automates approval workflows, reducing the time and effort required for procurement tasks.

Key Advantages of Automating the Purchasing Process

The adoption of automation in the purchasing process offers numerous advantages that can significantly benefit businesses:

The Role of Automating the Purchasing Process in Paperless Workflows

The transition to paperless workflows has gained traction across industries due to its environmental and logistical benefits. Automating the purchasing process aligns seamlessly with this paperless mission, offering several key advantages:

Future Outlook: Where Automating the Purchasing Process is Heading

As technology continues to advance, the realm of purchasing process automation is poised for further innovation. Some potential advancements include:

How Businesses Can Stay Ahead of the Curve and Continuously Adapt

To stay competitive in the ever-evolving landscape of purchasing process automation, businesses should consider the following strategies:

In conclusion, the significance of automating the purchasing process in contemporary business operations cannot be overstated. It represents a critical step in streamlining financial workflows, reducing errors, and ensuring efficient resource allocation. As businesses continue to embrace automation, they unlock the magic of transforming paper trails into digital dashboards, leading to greater efficiency, cost savings, and a more sustainable future. Embracing automation not only makes financial sense but also positions organizations to thrive in an increasingly competitive global marketplace.

Ready to go paperless? Contact us today to meet with a digital transformation consultant.

Streamlining Service Requests: The Benefits of E-Forms for Utility Companies

September 4, 2023/in Mosaic /by Mosaic Corporation

Are you a utility company looking for a more efficient way to process service requests? If so, e-forms could be the perfect solution. It’s no secret that customers today demand convenient and swift experiences when making requests.

For decades, utility companies have been responsible for providing vital services such as electricity, gas, and water to homes and businesses. However, the current status of service requests in these companies leaves much room for improvement. Lengthy paper forms, inefficient processes, and manual handling of requests can lead to time-consuming delays and customer frustration.

By leveraging technology to automate request routing and handling, utility companies can revolutionize the way they provide customer service. Digitization can streamline operations, improve efficiency, enhance customer satisfaction, and significantly reduce costs.

In short, e-forms represent a major opportunity to transform the utility industry and companies that adopt this technology sooner rather than later will be well-positioned for success in the years to come. With real-time access to customer details, resources, payments, and reports all made possible through digital forms, your utility company will not only meet these demands but also benefit from cost savings associated with automation.

Let’s explore how streamlining service requests with e-forms can optimize efficiency for your business operations while keeping customer satisfaction at its highest peak.

The Shift from Paper to Digital in Utility Companies

Utility companies have come a long way in the way they handle service requests. In the past, customers would have to fill out paperwork or call customer service to request utility services or report issues. These requests would then be sent to the appropriate department and processed manually.

However, with the advent of modern technology, there has been a shift towards digitization of these processes. This is a response to the need for more efficient methods of service delivery. Digital platforms now allow customers to submit service requests online, reducing the amount of paperwork and making it easier to track progress and ensure timely service. This transition from paper to digital in utility companies marks a turning point in the industry, one that will continue to transform how these businesses operate and deliver services to consumers.

Understanding Electronic Forms (E-Forms)

In today’s digital world, electronic forms, or e-forms for short, have become a common way for businesses and individuals to gather and process information.

Simply put, e-forms are digital versions of traditional paper forms that can be filled out and submitted online. They work by collecting data through fields that are pre-designed and programmed to accept specific types of information. This can include anything from text boxes for names and addresses to drop-down menus for selecting options.

There are different types of e-forms available, such as registration forms, order forms, and surveys. For utility companies, e-forms can be used to capture customer information, process service requests, and generate reports quickly and easily. And, since they are digital in nature, e-forms are more secure than paper forms.

With the convenience and efficiencies that e-forms offer, it’s no surprise they have become a popular choice for many organizations and individuals seeking to streamline their data collection processes.

The Benefits of Implementing E-Forms in Utility Companies

Let’s delve deeper into how leveraging e-forms can drastically revolutionize service requests within utility companies. It’s essential to understand the fundamental advantages of implementing this digital tool, from increased operational efficiency to enhanced customer satisfaction. We’ll break down the benefits and paint a clearer picture of how e-forms are reshaping the service request landscape for utility companies around the globe.

Streamlining Operations

Utility companies often face challenges in managing service requests efficiently. This is where e-forms come into play. By implementing e-forms, these companies can streamline their operations and make the entire service request process more efficient.

With a simple click of a button, customers can request services such as turning on/off water, sewer, electric, gas, and so on. This eliminates the need for manual paperwork and speeds up the processing time to deliver services. Utility companies can then save valuable time, reduce errors, and provide a hassle-free experience to their customers.

Improving Customer Satisfaction

Customers can easily fill out e-forms online, thereby eliminating tedious paperwork and reducing processing time. Not only does this improve the overall speed and efficiency of the service, but it also provides customers with a user-friendly experience that they are sure to appreciate.

Imagine a world where filling out credit applications can be done quickly and conveniently with just a few clicks on your computer or mobile device. It’s a win-win for both businesses and customers alike, resulting in improved service quality that will keep customers coming back for more.

Reducing Costs

Are you tired of the endless piles of paperwork that come with employment applications and onboarding forms? What if we told you there’s a solution that not only reduces the amount of paperwork but also saves your company money? That solution is e-forms.

By making the move to e-forms, you can streamline your hiring process and reduce printing and shipping costs. But the benefits don’t end there. Electronic commercial service applications for new construction can also result in a Work Order that can be managed entirely electronically, saving even more time and resources.

Detailed analysis shows just how much cost savings can be achieved through this simple switch. So, what are you waiting for? Make the move to e-forms and start reaping the rewards.

Improved Workflow

A smooth and efficient workflow can make all the difference when it comes to customer service. One way to improve this is by designing a system that spreads the workaround to different team members. There are several options to achieve this, such as round robin, where each new form goes to the next service agent in a precise order, or random, where a randomly chosen agent is assigned to each form. Load balance assigns forms to the agent with the least amount of work, while the whole group means that each new form goes to the entire team, and the first agent to grab it gets to work on it.

These options make it easier to manage incoming forms and ensure that each team member takes on their fair share of the workload.

Enhancing Data Security and Compliance

In today’s tech-savvy world, data security and regulatory compliance have become vital for business success. The use of electronic forms, or e-forms, has emerged as a solution to these challenges. E-forms, which replace traditional paper forms, have significantly improved data security and facilitated regulatory compliance.

If businesses implement e-forms, they can protect sensitive data from unauthorized access, hacking, and cyberattacks. Moreover, businesses can use e-forms to build audit trails and track user activity, simplifying the task of meeting regulatory requirements. E-forms have revolutionized data security and compliance by enabling businesses to safeguard data and stay compliant with regulatory standards.

Addressing Potential Challenges and Solutions

The transition from traditional paper forms to electronic forms, or e-forms, can present a number of challenges for organizations if not properly addressed. These challenges can range from resistance to change among employees to difficulties in selecting the right technology to support the transition. However, by implementing practical solutions like change management strategies, effective employee training, and careful consideration of available technology solutions, organizations can make the transition to e-forms with relative ease.

Overall, taking a systematic and strategic approach to addressing potential challenges will enable organizations to reap the many benefits of e-forms, including increased efficiency and savings.

Steps to Implementing E-Forms in Utility Companies

The e-forms implementation process requires careful planning and consideration. Firstly, an assessment of the current business processes is necessary to identify areas where e-forms can be beneficial. Once that is done, the objectives and requirements must be clearly defined to ensure the success of the implementation.

One crucial element to consider is the integration with current systems to ensure seamless functioning. Do some research on available technologies and vendors to determine the best fit for the business.

Finally, the decision to utilize internal resources or hire a contractor for the implementation must be made, taking into account the pros and cons of each option. Many software providers offer implementation plans and training tools to facilitate the process so be sure to take advantage of these.

With a detailed plan and careful consideration of the steps involved, utility companies can effectively deploy e-forms and benefit from them immensely.

Go Paperless Today

It’s clear that the benefits of going paperless are numerous. From easy storage and accessibility to cost-effectiveness and environmental sustainability, the advantages endorse the need for a switch to e-forms. It’s crucial to remember that digitalizing service requests can significantly reduce delays and provide prompt and efficient utility services to customers.

In light of this, we implore utility companies to consider embracing this move, which will not only benefit their operations but also contribute to a cleaner and safer environment. The call for digital transformation is now; it’s time to take the leap towards the future.

Contact our team today to help you make the transition to paperless!

What Is Three-Way Matching In Accounts Payable?

November 17, 2022/in Mosaic /by Mosaic Corporation

In the world of accounts payable, three-way matching is king. This process of verifying and cross-referencing expenses using three different documents is essential for preventing fraudulent invoices from being paid, simplifying the auditing process, and ensuring accuracy across all records.

But what is three-way matching exactly? This blog post will break it down for you and explain why it’s so important!

Three-Way Matching Explained

Three-way matching is the process of verifying that all of the information, such as the number of units, the cost per unit, and the total order cost, are accurate across all three documents: the purchase order, the invoice, and the receipt. This action helps ensure that no mistakes were made throughout the transaction and makes it easier to review at a later date.

While three-way matching is the most common form of data matching in AP processes, it is important to note that two-way matching and four-way matching are also common forms of data matching.

Two-way matching only checks the purchase order against the invoice, while four-way matching compares the purchase order, the receipt, the invoice, and a packing slip (if one exists).

Why Is Three-Way Matching Important?

There are several reasons why three-way matching is so important in accounts payable. For one, it helps to prevent fraud by ensuring that each invoice is matched with other documentation. This “paper trail” makes it much harder for someone to submit a fake invoice and get away with it.

Additionally, three-way matching simplifies the auditing process. When all of the relevant documentation is stored in the same place and can be easily accessed, it is much easier to review and verify accuracy.

Three-way matching helps prevent common AP mistakes like double payments, overpayments, and underpayments because it ensures that all of the information is accurate before any payments are made.

How AP Automation Can Help

AP automation software can help streamline the three-way matching process by ensuring that all of the relevant documentation is stored in the same place and can even automate many of the checks that would traditionally require manually comparing paper documents.

Manual invoice matching is error-prone and it can drain your payable staff’s time. AP automation software solves these issues with Intelligent Data Capture (IDC).

IDC is a technology-based invoice-matching process that automatically identifies, extracts, and matches critical information from incoming paper and electronic documents, eliminating the need for manual data entry.

Intelligent Data Capture is not only accurate but easy to set up and configure. You can submit a single sample of the common document types you use, and IDC will take it from there. This means you can get your solution up and running quickly without sacrificing any sophistication or flexibility. Because Intelligent Data Capture “teaches” itself, it’s able to adapt as your organization grows and changes.

By investing in Intelligent Data Capture, your organization can save time, money, and resources by no longer having to manually extract data from your documents.

Epicor AP Automation For Effortless Three-Way Data Matching

Epicor AP automation software includes Intelligent Data Capture technology to make two and three-way data matching effortless. With our powerful document management system, you can easily store and retrieve all of your documentation in one place, on the cloud.

An invoice can be easily scanned into the software where it will be automatically matched to the purchase order and receipt. If the given invoice matches the other documents, then it is automatically pushed into the approval workflow for a manager to approve on the go.

If errors or duplicates are found, then the supplier invoice will not be sent through for approval, so your company can rest assured that you won't be losing money on faulty or late payments from human error.

Epicor AP automation software also frees up your payable teams to focus on more important tasks like tracking KPIs to cut invoice cycle times and capture early payment discounts.

As if that isn’t enough, Epicor AP automation software also comes with a full suite of features to streamline your entire accounts payable process from start to finish. These include:

Fully paperless processes for a greener office.
Maximum cost savings.
Centralized document storage.
Real-time reporting, anytime, anywhere.
Seamless ERP integrations.
Accelerated productivity, operational efficiency, and more!

Ready to see how Epicor AP automation solutions can help your organization streamline its accounts payable process? Contact Us to get started with a demo!

5 Ways AP Automation Systems Make Working from Home Possible

June 17, 2022/in AP Automation, Automation, Mosaic /by Mosaic Corporation

More and more businesses are allowing employees to work from home, at least part of the time. This can be a great way to improve morale and keep talented employees happy. However, it can be difficult to do this effectively if you have a large accounts payable department. That’s where AP automation comes in. Automating your accounts payable process makes it possible for you to work from anywhere with an internet connection.

Remote Work Models Require Digital Transformation

To enable your employees to work remotely, you’ll need to implement digital transformation solutions in many of your everyday business processes so employees can easily access data, reports, and tasks from home. Thankfully, the AP processes are one of the easiest departments to transition to digital and remote workflows.

By implementing AP Automation Software, your business can transition employees to a remote or hybrid work model while setting your company up for long-term success.

By implementing AP Automation Software, your business can transition employees to a remote or hybrid work model while setting your company up for long-term success.

Let’s take a look at five of the ways that AP automation can make working from home possible for your business!

Receiving invoices electronically is the first way that AP automation can make working from home possible. This means that there’s no need for your employees to be in the office to receive paper invoices. Instead, AP workers can be anywhere with an internet connection and still have access to all of the invoices that come in.

Another way that AP automation makes working from home possible is by allowing employees to process and file invoices from anywhere. This means that your AP team can work from home, or even from the beach if they want! All they need is an internet connection and they can access all of the invoices that need to be processed.

Invoices can even be processed and approved from a smartphone with the touch of a button. Employees are no longer trapped in the confines of the paper-cluttered desks to complete invoice approvals. Electronic invoices with AP Automation software allow your workers to focus on tracking key metrics for increased efficiency rather than wasting hours of labor-intensive tasks like manually inputting data

One of the best features of AP automation is the ability to automate payments. This means that your AP team can set up automatic, electronic payments for all of your invoices, so they don’t have to worry about manually wiring payments or writing physical checks. This can be a great way to save time and money, as well as to improve the accuracy of your payments.

Your suppliers and vendors will also be pleased with receiving more accurate and on-time payments. Slow, manual invoice processing often hurts your business relationships with vendors and suppliers because payments are inconsistent, but with AP automation, payments are reliable and always on time. This will bring the major advantage of vendor discounts for more opportunities to cut costs.

When you automate your AP process, you can also take advantage of increased security measures. With AP automation, all data is stored electronically in a secure system with access controls. This means that there’s no risk of losing invoices or sensitive information if someone breaks into your office and steals paper files.

Additionally, AP automation systems often come with built-in fraud detection features. This can help you to avoid making payments on fraudulent invoices, which can save your business a lot of money. You can also backup documents in your cloud solution with control over access so your business never needs to worry about losing a valuable document with sensitive information.

Finally, AP automation can reduce the overall costs and processing times for your business. This is because automating your accounts payable process can eliminate many of the manual tasks that are required, such as data entry or check writing. In addition, AP automation can also help to improve the accuracy of your invoices, which can lead to fewer errors and faster processing times.

Avoid those pesky late fees, under-payments, and over-payments that cost your company time, money, and labor. AP automation boosts operational efficiency so you can focus on growing and scaling your business for longevity.

When you automate your AP process, you’ll also have improved visibility into key performance indicators (KPIs) in high-level reports. This data can be extremely valuable for making decisions about your business. With AP automation, employees are relieved of their mundane invoice processing responsibilities so they can focus on the more important work of tracking metrics such as average payment time, the number of invoices processed per day, cost per invoice, and more.

This data can help you to identify areas of improvement for your AP process. For example, if you see that your average payment time is slow, you can take steps to speed up the process. Alternatively, if you notice that the cost per invoice is high, you can look for ways to reduce costs.

Overall, AP automation is a great way to make working from home possible for your business. By automating your accounts payable process, you can save time and money, as well as improve the accuracy of your payments.

Overall, AP automation is a great way to make working from home possible for your business. By automating your accounts payable process, you can save time and money, as well as improve the accuracy of your payments.

Still not convinced? Read our blog Why You Should Transition Accounts Payable To Paperless for more tips on how your business can benefit from an AP automation solution.

Contact Us to get started with remote AP Automation today.

Going Paperless At Your Convenience Store: The Benefits and How To Get Started

May 19, 2022/in AP Automation, Automation, Mosaic /by Mosaic Corporation

It’s no secret that the retail industry is under pressure. Department stores are closing, malls are becoming ghost towns, and online sales are continuing to grow. In this environment, it’s more important than ever for convenience store owners to find ways to cut costs and streamline their businesses. One way to do this is by going paperless.

In this blog post, we will discuss the benefits of going paperless for a convenience store and how you can get started!

The Benefits Of Going Paperless

There are many benefits of going paperless for a convenience store, including saving time and money, freeing up physical storage space, and increasing customer goodwill. Let’s take a closer look at each of these benefits:

Save Time and Money

One of the biggest benefits of going paperless is that it can save you a lot of time and money. For example, if you move to digital receipts, you’ll no longer have to spend time printing and organizing paper receipts. This can free up a significant amount of time that you can use for other tasks, such as serving your customers.

If your business is looking to cut costs, piles of paper should be the first to go.

Paper, ink, and printer maintenance are all costly. By switching to paperless billing, you will have significant savings on paper supplies. If your business is looking to cut costs, piles of paper should be the first to go.

Free Up Physical Storage Space

Another benefit of going paperless is that it frees up physical storage space at your store. Paper files, receipts, and other documents can take up a lot of space, especially if you have a large volume of them.

When you go paperless, you can store all of your files electronically, which frees up valuable storage space so you have more room to store fresh inventory. Employees will also feel more comfortable navigating back rooms and offices when they are free of clutter.

Increase Customer Goodwill

In today’s environment, consumers are increasingly interested in doing business with companies that are environmentally friendly. By going paperless, you can show your customers that you are committed to reducing your environmental impact by cutting paper waste.

By going paperless, you can show your customers that you are committed to reducing your environmental impact by cutting paper waste.

This can increase customer goodwill and loyalty, which can lead to more sales. You can also market your business as an eco-friendly store which may bring in new customers who are passionate about cutting paper usage.

Digital Transformation Will Keep Your Business Afloat

The retail industry is changing rapidly and those who don’t change with it will be left behind. By going paperless, you can streamline your business, save money, and appeal to eco-conscious consumers. On top of all that, consumers are much more tech-savvy today.

They’re used to paperless solutions in other areas of their lives and they expect the same from businesses. Adopting digital tools shows that you’re keeping up with the times and that you’re invested in providing a modern, convenient experience for your customers. Your business will also stay in competition with competitors who have already transitioned to a paperless business model.

How To Get Started

Now that we’ve discussed the benefits of going paperless, let’s talk about how you can get started. There are many ways to eliminate paper from your retail business or convenience store, including adopting digital receipts, eliminating paper docs and spreadsheets when counting inventory, moving to digital employee management tools, cleaning out cabinets with employee paperwork, and moving as many accounting and financial tasks as possible to digital documents in paperless, electronic systems.

Audit Your Paper Processes

The best way to get started is to assess where you’re currently using paper and where you could switch to a paperless solution. Once you’ve identified some areas where you can make a change, start implementing paperless solutions one at a time.

Once you've identified some areas where you can make a change, start implementing paperless solutions one at a time.

One of the most important things to remember when going paperless is to choose a solution that will work for both you and your customers. For example, if you switch to digital receipts, make sure you have a system in place where customers can easily access their receipts such as a paperless receipt by email or text to a mobile device.

Research Your Options

There are many options available when it comes to going paperless, so take some time to research what would work best for your business. Talk to other businesses in your industry and see what paperless technology solutions they’re using. You can also reach out to paperless solution providers and consultants for more information.

Implement a Solution

Once you’ve decided on a paperless solution, it’s time to implement it. This can be a big undertaking, so make sure you plan and prepare for it. You may need to train your employees on how to use digital payment devices and systems, and you may need to make some changes to your store layout or operations.

Internal communication is important during this time of transition.

Internal communication is important during this time of transition. Make sure your managers hold in-person meetings to educate employees on how to use the new sale devices, how to explain the benefits of email receipts to customers who may be confused about the change, and why a paperless workplace is more beneficial for everyone.

Go Paperless with AP Automation Software

One of the best ways to go paperless is with AP automation software. This type of software automates Accounts Payable processes so you can eliminate paper invoices and move to an electronic workflow. AP automation software also offers many other benefits, such as reducing late payments, improving cash flow, and increasing efficiency.

At Mosaic, we’re known as #ThePaperlessGuys. Our paperless consultants will help your business find the perfect paperless document storage solution for your unique needs. We will also teach you how to get your employees excited about digital transformation so you can launch your new paperless operations the right way.

Contact Us to go paperless today.

How Paperless Processes Can Relieve Remote Workers’ Stress

May 5, 2022/in AP Automation, Automation, Mosaic /by Mosaic Corporation

In a world that is increasingly moving towards remote working models, it seems strange that many companies are still struggling to make the transition. One of the main reasons for this is their reliance on physical documents. Antiquated paper processes can cause major issues for the remote workforce; who may not have access to the same information as those in the office.

In this blog post, we will discuss some of the benefits of going paperless; and how transitioning to a remote working model can help your business grow!

The Challenging But Beneficial Transition To Remote Work Models

Since the onset of the Covid-19 pandemic, many companies have transitioned to remote or hybrid work options. Remote work is here to stay as employees enjoy a greater work-life balance and companies reap the benefits of lower office costs.

Remote work is here to stay as employees enjoy a greater work-life balance and companies reap the benefits of lower office costs.

But for some businesses, the transition has been far from smooth. One of the main challenges has been a reliance on physical documents.

In traditional office environments, it is easier to pass around documents or have paper files readily available in a central location (though paperless offices are still much more efficient). But when employees are working remotely, they are not able to stop by the official office filing cabinet to search for the document that they need.

Businesses have adapted to remote business models by prioritizing their digital transformation efforts. But for some, the transformation has been more difficult due to continued reliance on paper documents.

The Benefits of Going Paperless In A Remote Work Model

There are many benefits to going paperless including; smoother processes, better organization, and increased security. But when transitioning to a remote work model, there are even more benefits to be gained!

By digitizing your documents, you can make them accessible to anyone, anywhere. This is especially beneficial if your company is looking to hire remote workers; as you will have a much larger talent pool to choose from. Another benefit of digitizing your documents is that it can help reduce operating costs for your business. With no need for paper or physical storage, you can save on office space and equipment costs.

Digitizing your documents can also help increase productivity and flexibility for your employees

On top of all of these benefits, digitizing your documents can also help increase productivity and flexibility for your employees. With remote workers, there is often a need to share documents back and forth between team members. This can be time-consuming if done through physical mail or fax. But with digital documents, employees can easily share and collaborate on projects; no matter where they are in the world!

Paperless Processes Relieve Remote Workforce Stress

While remote work models are generally more preferred by workers today, that doesn’t mean that workers are entirely free from stress and burnout. According to a The Future Of Work study by Nitro, 83% of remote workers surveyed say that the way their company handles documents has not improved significantly over the Covid-19 pandemic.

According to a The Future Of Work study by Nitro, 83% of remote workers surveyed say that the way their company handles documents has not improved significantly over the Covid-19 pandemic.

These remote workers cited stress around tasks like merging or combining documents, editing and signing PDF documents, and a lack of training and support. These same remote workers also believe that better digital tools like automation software, digital workflows, cloud-based collaboration tools, and e-signature processes would improve their day-to-day processes.

Many employers delay digital transformation because they fear that it will take too long, it is too costly, or their employees will not want to learn new tasks. However, the data shows otherwise. Many remote workers are starved for better digital document management tools because they know that paperless processes with centralized digital document storage will ease their workday stress.

How To Get Started With Paperless Remote Processes

The benefits of digitizing your documents are clear. But for many businesses, the transition to a paperless work model can be daunting, even when the outcome is meaningful business growth. Here are a few key steps that you can take to make the process easier for your team:

Start by identifying which documents need to be digitized and which can remain in physical form.
Meet with your IT team to share your paperless and online collaboration goals. Your IT team members can offer their expertise and insider perspective by suggesting the best digital transformation route for your business.
Work with your team to set up a digital document management system that meets your specific needs.
Meet with a few paperless companies to learn how they made the transition.
Research and request consulting from two to three automation software providers until you fit the perfect solution for your business.
Make sure to provide training and support for your employees as they transition to using paperless processes. A paperless software consulting team can help by providing robust training materials to get your company on the right track.
Set up regular check-ins with your remote workers to hear how they are adjusting to the reduction in paper documents and new digital processes. By listening to the challenges of employees, you can properly navigate roadblocks and troubleshoot any gaps in training.

With the many benefits of digitizing your documents, it’s clear that there is no reason to delay making the switch to paperless processes. By taking a few key steps, you can easily transition your remote workforce to paperless processes and start reaping the rewards!

If you’re ready to begin your digital transformation and ease your remote worker’s stress, we’re here to help! At Mosaic, we’re known as #ThePaperlessGuys and we offer paperless consulting to find the perfect automation solution for your unique business needs.

Contact Us to get started today!