Contract Lifecycle Management Software

In most organizations, business contract management is handled across various departments: Sales, Finance, Legal, Fulfillment, sometimes even more. The analog manual process involves business contracts stored in file cabinets in one department or another. Often an old contract is used as a template for the new contract. Tracking service level agreements to make sure all deliverables were met may be hit or miss. Unless you can afford to hire an administrator to manage the contracts, it is usually a haphazard contract management process.

Dave is the new hotshot salesperson on the team. It’s rumored that he actually did sell ice in Alaska. He is bringing in new contracts and driving everyone crazy because our contract management system is out of sync. Compliance changed all contracts due to safety concerns at the beginning of the year. Dave is working with an old contract he found in his sales files. It means every contract that he has produced is out of compliance. Even worse, suppliers, contractors, and others will need to sign new, updated contracts. To a salesperson, this is like being banished to purgatory. The whole negotiating process may start over if a new contract is produced. This challenge doesn’t happen if your team is using contract lifecycle management software.

Welcome to the world of contract management software. A new salesperson joins the team. He or she can access a contract template that is compliant and approved by legal. Legal created the template that is housed in your cloud-based contract management solution. Contract creation happens by accessing your dashboard on your laptop, tablet, or mobile device. Your contract repository is no longer a physical file cabinet. You now have the power track version control, not with a WORD document search, but with intelligent contract management software that will find whichever version you want or need.

Most of us concentrate on the final cost in a negotiated contract. Every contract has customizations that the software can alert you about. From service level agreements to renewals and terminations, every deliverable could make or break your bottom line. With a contract management solution that is easy to use, your contract portfolio is securely accessible in a cloud-based environment. Some contract management platforms are the digital manifestation of traditional, physical storage. That’s not what your company needs. Most business users need a contract lifecycle management solution that provides them with more!

Contract Lifecycle Management Software

Contract lifecycle management software will help your team be more productive. Your supplier risk management team will never be caught with an expiring contract, nor the costs associated with that challenge. Imagine your legal team is no longer bogged down, creating contract templates or one-off customizations. Saving time and increasing productivity with contract management software will positively impact your bottom line.

The new hotshot salesperson can immediately locate the old contract. Your contract management software will alert him or her to any deadlines that were not met. Are you due a refund for underperformance? With your new contract management processes in place, you are alerted to any challenges before the contract even expires. Your hotshot salesperson has the leverage to negotiate from a position of knowledge. Your supplier management team can make recommendations concerning any business that has a contract with your business. They will immediately know if this partner met their contract promises.

Contract Collaboration

Not only does contract management extend through various departments in your business, but also your supplier’s extended team. The contract negotiation process with CLM Software ensures that your team and the supplier know what is expected on all sides. Approval workflows provide an audit trail for the contracting process. Our user interface is intuitive and easily integrated into your existing contract lifecycle management solution.

Your team will be alerted to the renewal process, deliverables, challenges, and suddenly instead of a manual analog paper process, your team is free to consider the entire contracting process. Would software as a service save money? Are the cycle times for this entity out of the norm? All of these answers can be easily found with a contract management platform. Are you ready to join the 21st Century? Get started now!

 

Business Document Control Software

Your Business Deserves Document Management Software

Today, digital environments are becoming the norm for businesses of all sizes. The cost associated with going paperless may seem prohibitive, however document management software is not only affordable, but could also positively impact your bottom line.

Regardless of the size of your business, day-to-day operations can create lots of paper, just in completing everyday business tasks. File cabinets to store documents take up valuable office space. Multiple versions of documents exist in every environment: in a cabinet folder filing structure, on hard drives, with legal, with compliance, and with your clients and contractors. Some documents and files can be found in secure environments. Some can’t be found. It all depends on your approach to document management.

If you are still working with files in a way similar to the 19th Century businessman, you’re missing out on the insights found in using a software document management solution. Mosaic works with business owners to customize a document management system that works for them. This simple management solution will increase productivity and decrease expenses.  The undercover cost for using paper includes security, shredding, and office space lost to storing files. Some still think the paper expense is the cost of doing business. They are wrong. By transitioning to a paperless system, businesses help the environment and their profit margins.

A cloud-based solution in a secure environment allows your business to operate efficiently and effectively, providing document storage, file sharing, tracked document editing, and limited access where needed. Your team will be available to access files across multiple platforms, including their mobile device, laptop, and tablet. A user-friendly interface allows your team to transition to a cloud-based document management system that will allow collaboration, file sharing, and document control.  Our enterprise content management software means never panicking over a lost file ever again. 

Our document management solution provides peace of mind because you know every file can be located with a simple search. Business documents are no longer a drag on your workflows. With the ease of use and the ability to transition your current files into your document management system, adoption becomes a no-brainer.

Document management services will allow your team to play in the big leagues— with all documents and files in one place. Collaboration tools allow cross teams to work together. Paper documents easily transition to your new document management software. In designing your system, scalability is built in so you can grow with ease. Additionally, the cloud-based document systems provide security behind firewalls and passwords. Does your IT team want to support this effort in your office? That works as well. We will also make sure that your document management solution is prepared for every disaster recovery if needed.

How do you get started? Mosaic will work with your team to make sure they are ready for the ease of use of our user interface. This intuitive document management solution brings your business fully into the 21st Century.  Get ready for happy customers and employees.

 

 

Mosaic Client interview with Felicia Blake

Like most people, until you’ve seen it for yourself, you think it’s a great idea – in theory.
Proclamations and do-gooder intents are simply that without full implementation.

That’s exactly what Felicia Blake thought. Having worked in Accounting for over a decade, she’s heard of other companies offering paperless solutions that never quite fully delivered. She admitted to being skeptical after working with several companies in the past. They claimed and even attempted integration, but, in the end, there was still paper. Maybe a little less paper, but still paper that had to be physically managed, secured, and stored.

Blake shares that her days before Mosaic consisted of “scanning and scanning and scanning and scanning.” Each invoice had to be scanned into the T-Drive. She felt like half of her day was spent standing at the copy machine scanning in invoices so that they could eventually be processed. The scanning was necessary to access the “paperless” system that the company was using. “Today I hardly scan anything,” she says.

Most people say they embrace change, but Blake’s team did experience some pushback at the beginning. A few senior managers were used to bringing their signed documents to her desk with their signatures for processing. They didn’t want to open the platform and apply their e-signature, but once they realized the DocStar platform was loaded onto their computers and they walked through the two-minute process, they were sold.

The secret that Blake keeps is that DocStar has streamlined her workday so much that it doesn’t feel like work. For instance, last week, her boss asked her for a report on one of their vendors from 2019 – Current 2020. In the past, Blake would create an Excel spreadsheet, pull the invoices from their files and begin month by month, transferring the information from the files to the spreadsheet. Then, after double-checking a few times, she could email her boss. With DocStar, she pulled up the business, accessed its information, pulled a report with the correct date parameters, hit enter, and DocStar did the rest. She says “Instead of scanning, scanning, scanning, I go click, click, click. I attached my custom report to an email, and done.”

Blake explains that this has freed up her day to concentrate on the big stuff like audits. She now has the time to prepare for the more important things that affect her company. “Now I pull up my dashboard every morning, and I know exactly where we stand with every vendor,” she says.

DocStar and the Pandemic

When Mosaic brought the DocStar system to Blake’s workplace, there was absolutely no way anyone could have known COVID-19 was on the horizon and the impact it would have on our lives and work.
Blake explains, “I was pregnant when my company considered DocStar. So, I call DocStar my second baby!” It’s one thing to sell us on the system, but another to overcome pushback. We were trained and educated on why and how this system was going to make our everyday lives easier. They listened to our pain points and then created and implemented a system customized with our needs in mind. Blake exclaims that “Our solution is completely ours.”

Her voice fills with emotion when she remembers that without DocStar in place, the change in the pandemic work environment would have presented challenges that would not have supported their team.

“Simply put, it would have been impossible for us to work from home. I would have had to enter the office every day because there are things about the traditional paper platform that you cannot do remotely.”

Blake went on to share that even simple things, such as receiving invoices in the mail, would have been difficult. Our team would have had to physically go into the office to retrieve invoices, scan them, and process them, putting everyone’s family at increased exposure during the pandemic.

According to Corp Magazine, a mere eighteen percent of companies consider themselves paperless, despite the given advances in technology today. Even though the cost of a ream of paper is cheaper than what it used to be, these savings are not translated across the board in managing the created document. Those costs include printer toners and maintenance, filing systems and, believe it or not, staples! These hidden costs can be as much as 31 times the paper’s cost with estimations at $8 billion that companies spend on paper management every year.

If you’re ready to take the paper out of your paperwork, give MOSAIC, the paperless process people, a call today.

Mosaic for Dental Practices

Most dental practices are no longer small enterprises with a single location. The business of dentistry has changed in the last decades and acquisition is one of the popular ways for a practice to grow. Dentists provide a health care service. Health is the product, but dentists, like many health practitioners, are small business owners.

With acquisition being one of the fastest and surest ways to grow your medical practice, the need for customized back-end systems that can speak with each other is paramount for success. For some, this may seem complicated—so complicated that most often inefficiency is the norm as more paper piles up for storage or shredding.

The most impacted back office system you may ask? Accounts Payable. After all, the ability to pay for goods received from vendors is the lifeblood of any business. Business reputations can be ruined with late payments, confusing systems, and high overhead. Research shows that a single employee error can result in frustration, late fees, or even a stop on shipping supplies. Suppliers and doctors talk, and when vendors are not paid in a timely fashion, your reputation and the ability to grow your practice are tainted.

Taking into consideration the often-increased headcount, printing costs, postage, and more instead of growth, your traditional systems may be losing money for your practice, even impeding future growth. The answer may seem complicated if you don’t consider the technological edge available to most small and medium enterprises today. What was a pie-in-the-sky idea just a few years ago is now available to everyone that can use a customized system with less paper, fewer errors, and increased productivity.

Let’s walk through the challenges faced in the AP departments when dental acquisitions occur – Our dental practice is located in Atlanta and has been in existence for ten years. This is a family practice started by two brothers: one went to dental school, and the other has an MBA. They joined forces and, over the last decade through acquisitions, they now own over 175 locations across the country.

Our dentist focused on making sure that the healthcare providers adopted the best dental solutions, learning from some practices and educating others. Our office/operations manager was great at training the new teams and their customer service was consistent across every office. Our MBA was focused on continued growth when he heard a few rumblings from vendors. After some research, he was able to trace this challenge directly to their AP departments.

Their initial acquisitions were easy to incorporate into their traditional systems. Some acquisitions came with their own proprietary AP software. A few offices were almost in their system, but still had to print out paper to complete their processes. An incorrectly dated invoice had set off a chain reaction, resulting in late payments. Another error resulted in double payments to some vendors. Postage and shipping charges were increasing, and the still necessary manual processes were leading to reduced team morale.

The challenge was clear, but the solution was thought to be complicated.

Was it possible to find a digital system that could be customized specifically for their needs?

A solution that was flexible enough, so their continued growth wasn’t thwarted?

A tool that was easy to use so that employees would embrace the new system?

The MBA reached out to Mosaic. Mosaic implemented the DocStar AP Automation solution. With an internal processing engineer hired to streamline the AP system, the dental office has experienced a savings of over $350,000 in one year.

This resulted in new practices immediately following acquisition being included in the new system, due to the newfound scalability provided. Additionally, the dental practice now:

  • Captures all invoices electronically by using standard MFP copiers at locations or getting vendors to send PDFs
  • Uses intelligent data capture software to harvest all data from invoices using advanced OCR technology
  • Employs DocStar’s workflow to route invoices to approvers who can approve on PCs or smartphones
    Automatically updates to Dynamics GP, eliminating manual data entry and lowering error rates significantly
  • Has increased visibility into accrued outstanding payables and other key info through DocStar’s reporting tools
  • Achieved lowered costs of document storage and printing
  • Created goodwill with employees, vendors, and leadership

Today, a team of three AP people is processing thousands of invoices per month with much lower error rates, much faster pay cycles, almost no printing costs (in AP), and flatlined shipping costs.

The Dental Practice can now acquire a new provider and completely take over the payables to their suppliers in less than 10 business days!

Mosaic would like to work with you to offer our services if your practice is having similar issues. Call us to learn more about how we can help you achieve your goals.

Does Paper Have a Hold On Humans?

Papyrophiliac. Yes, there is a word for a person who loves paper. There’s even a word for those people who collect paper, hallmaphiles. This might be hard to believe, especially in the digital age. Every piece of paper that humans used to collect and store, insurance cards, maps, mail, warranties, user manuals, receipts, recipes can all be found in digital form. This raises the question; Does Paper have a psychological hold on humans?

In the 1970’s futurist Faith Popcorn predicted the demise of paper. She predicted that all the things that we now access on our phones, tablets and more would go away. There would simply be no need to use paper anymore. Children growing up today will never have the smear of black ink on their hands after reading the early morning newspaper. “Cracking the spine of a book” is an antiquated phrase that even Generation X may not recognize. Reference books are all online even if you find them in a digital library. Most information that is used by people today is found in digital form or via your home speaker. Another Faith Popcorn quote “Just before consumers stop doing something, they do it with a vengeance.”

Since the late 1970’s when the predictions of a paperless society began it was always with the belief that productivity would increase and cost would decrease. When every desk in the office has computer, it was thought that certain processes bookkeeping, logistics and more would be automated removing the need for paper. What futurist didn’t reckon was that with each of the desktop computers would come desktop printers. Technology brought the cost to printing documents down so low that printing whole documents was inexpensive. Between the 1980’s and 2000’s paper use increased exponentially spawning thriving industries for document storage and shredding.

Have we finally come to paper’s last stand? Since the 2000’s offices in the US are using less paper. Security has increased for storing digital records behind passwords and firewalls. As people become more comfortable with the security of digital storage, the more likely they are to use it not only for personal documents but also in their business. Layer the addition of pandemic where everyone is looking for a way to limit their contact with others digital processes have exploded. From receipts to taxes humans are eliminating the need for hard copy paper documents. For generations we’ve been told to save receipts, file your income taxes and insurance forms many documents receiving favored treatment.

Today you can take a paper receipt, but most opt for a text or email. Business expense reports are automatically done by taking pictures of receipts as you receive them. Before your flight home even lands, your expense report can be filed digitally without you ever missing a beat. For the last decade most people file their income taxes digitally with e-signatures. Payments or refunds are processed digitally with little to no paper. As people navigate life in the pandemic, all are looking for multiple ways to limit their contact…with people. Everything that can be done digitally is being done digitally. Those that embraced technology, using automated processes are ahead of the curve. Some whole industries are playing catch up and those papyraphilliacs are still dancing in their paper chaos.

The paperless office has been moving beyond myths as one-by-one various industries embrace automated digital processes. Completely eliminating the need for paper hard copies can be done. As always thought, those industries embracing digital processes have increased their productivity and decreased their costs. Technology has moved from the Filofax to the Blackberry to Alexa in a short period of time. While we like to believe that these changes were easily accepted, most of us were kicking and screaming to hold on to our favorite technology. Believe it or not, you can still find inserts for your Filofax even if you can’t reboot your Blackberry.

Is it time for your business to go paperless? In a perfect world your team is ready to transition, and everything will happen in a blink of an eye. In the real world a customized solution that includes training and processes for exclusively for you can be found at Mosaic.

Meet James Kingery: Fearless Captain of the Mosaic Ship

As captain of the U.S.S. Mosaic, along with his brother Ken, James Kingery has helped countless customers over the last three decades find their way to the right paperless solution. He brings in a wealth of experience to every project, working with small and mid-market organizations to improve their bottom line through process improvements, automation, and management and operations refinements. 

We sat down with the longtime Mosaic helmsman to get a sense of what drives him daily, the importance of a healthy work/life balance, and what his favorite part of the job is (hint: it has to do with helping clients).

Mosaic: What you love most about your job? 

Kingery: I love that it’s a new undertaking every day and that we are changing things up for businesses and helping them be successful, so it feels like there’s a lot of purpose behind what we do. The impact on our customers is incredible. You feel more like their partner in what they do than a vendor. 

Mosaic: How would your 10-year-old self react to what you do now?

Kingery: He probably wouldn’t have any idea what I was talking about! (Laughing) It’s complicated even to explain to people who are walking around every day in this business because it can get very technical. 

If I were a 10-year-old, I probably wouldn’t even dream of what I do now. But where we’ve ended up is a pretty cool place. I think software is going to be around forever, and the way it impacts individuals on a day-to-day basis is huge, and super important in the world.

Mosaic: What was the first job you ever had, and what’s one thing you learned in that job?

Kingery: Does mowing lawns count? I think the first job where I really learned a lot about people was in college. I worked my way through school by working at a garage door company. I learned about tools and people and inventory and how to organize your processes and be efficient. That was my first foray into looking under the hood of a business. You’re dealing with tickets and orders and getting the order right and customer satisfaction. Before then, I had no understanding of any of these things.

Mosaic: What initially got you interested in what you’re doing now with Mosaic?

Kingery: It was one accident after another over a long period of time. I started off in office products, but those didn’t look anything like they do today. It was typing and word processing, and computers were just coming onto the scene. So that’s unfortunately how old I am (laughing). Eventually, I ran across this software with the ability create and index paper documents into electronic, and I thought that one day that’s going to be huge. 

Once we got into the paperless operation and, more specifically, enterprise content management, we began to meet with high-level organizations and strategically help them become more successful. Then it became increasingly interesting on many levels.

Mosaic: What professional achievement are you most proud of? 

Kingery: That we’ve been privately owned and operated for more than 30 years. And we’ve been a platinum partner in just about every relationship we’ve been in. We were a top performer with Xerox, a platinum partner with Epicor (ERP Solutions). Being relevant to our partners has been my greatest achievement.

Mosaic: What’s the best piece of professional advice you’ve ever gotten?

Kingery: “Experience is what you get when you don’t get what you want.” That one stuck with me. It’s all about experience and how you don’t gain as much when you win. You gain more when you lose and can learn from it.

Mosaic: How do you handle challenges and/or work stress?

Kingery: I go sail on Wednesday nights. We race on Lake Lanier every week, about 45 boats. We have fun. I work hard, we have a good team, and we all help each other and it’s kind of like team building and competition all in one. So when I leave, I’m pretty good about keeping the work behind me and going and doing the next thing. I don’t carry it with me. There are several racing series throughout the course of the year plus a few 2 day Regatta’s we participate in. 

Mosaic: What is the name of your boat?

Kingery: Sotally Tober. A lot of people tell me, “I don’t know how many people know your name but, everyone knows the name of your boat.” (Laughs.)

Mosaic: What are two adjectives that your family and friends would use to describe you?

Kingery: Upbeat and optimistic.  Possibly a tad competitive too.

Mosaic: Obviously, we won’t be traveling for a little while because of the pandemic. But it’s good to dream! Where is the next place on your travel bucket list, and why?

Kingery: We want to go sailing in the Mediterranean — Italy, Croatia. Over the years, we’ve been mostly sailing in the Caribbean. You know how people hike the Appalachian Trail and hike different pieces of it, so eventually, they get the whole thing? We’ve been doing that with the Caribbean Islands. We started with the Keys and then sailed everywhere — Belize, Grenada’s southern end, Union Island, Mayeau, Bequia, St Vincent, the U.S. and British Virgin Islands. So we’re trying to nip away that whole chain.

Mosaic: Who is one of your heroes?

Kingery: It may sound corny, but I would say, my dad. In World War II, he fought in Germany and was captured there by the Germans and held as a prisoner of war. So he was in peril for his life. When General Patton came through, the Battle of the Bulge, the Germans just left the camps. So my dad and his buddies were just stumbled upon in their prison camp. When he came out of that, he was the best, kindest guy. He was always laughing, and he never raised his voice. He was always pleasant to be around.

Mosaic: What is the last thing that you read?

Kingery: I read about a book every 10 days; all of these adventure novels. It’s a genre that I can’t stop reading. Avenged in the Keys is what I’m reading right now on my Kindle. They’re all kind of like drug interdiction or bad guys/good guys stories, set in the Caribbean. They’re all exciting and fun, with lots of boat chases and great characters. It’s a way to disappear and relax and let your mind go to some other place. I wake up every morning and read. I read every night going to bed. 

Mosaic: It seems appropriate that you have a Kindle rather than lots of printed books sitting around, given Mosaic’s specialty.

Kingery: Yes, and I used to have so many books! Two things I like: First, that it’s handheld and it’s right there. So if you fall asleep reading, instead of having to spend 10 minutes finding where you were, it comes right back to the page you were at. And second, I always like to look up words that I don’t know while I’m reading – and you can look it up right then and there.

Mosaic: What’s a talent or interest that isn’t on your resume? 

Kingery: We ride bikes a lot. We like to go to different parts of town, and stop at the pubs and see what’s going on and get the flavor. You see a lot of things that you don’t see driving through, so going in shops and eating locally. That’s a lot of fun for us. Other than that, we sail and work a lot.

Mosaic: What actor (or other famous figure) would you want to narrate a movie about your life? 

Kingery: Morgan Freeman could make anyone sound interesting.

The Great Eight: Here Are the Top Standout Benefits of Going Paperless

At Mosaic, we’re in the business of matching the right paperless solution with your unique company and the needs of your team. 

That said, some things are universal. The below list comprises the one-size-fits-all, exciting, and sometimes surprising benefits of getting into the green game and leaving behind those mountains of paper behind forever.

1. You’ll have way, way more time on your hands.

Even for people who are still lucky enough to have jobs that let them work from home, navigating current economic challenges can be tough. With remote work on the uptick and the line between work and home becoming ever more blurred, exhaustion is on the rise. According to one recent survey, “Over two-thirds, or 69%, of employees are experiencing burnout symptoms while working from home.”

Bearing that in mind, freeing up your time and mental energy to focus on what’s important has become more critical than ever. Going paperless at the very least cuts out the endless hassle of storing, organizing, and filing (not to mention frequent trips to take out the recycling as it piles up at home).

Going paperless also means that you can share files, back up reports, or whatever else you need to do simply and easily from your mobile device, while on the go, which means no delays or having to wait around before getting to that next item on your to-do list.

 

2. It’s healthy for the environment.

Statista reports that, worldwide, we produce around 420 million metric tons of paper and cardboard every single year (of that, the United States accounts for 72 million metric tons!). To put that in context, that’s equivalent to around SEVEN separate Great Walls of China, one of the weightiest and most gigantic structures in the world. 

Lots. Of. Paper.

Not only that, but despite numerous campaigns and calls for reducing the amount of paper we use, the consumption of these natural resources is growing. In 2015, TIME magazine wrote about a new report stating that humans cut down 15 billion trees per year, much of which goes toward printing and writing paper specifically.

What’s extra dandy about going paperless is that it not only behooves you from a convenience standpoint AND makes you feel good about investing in the future of this planet. As famed writer and environmental advocate John Muir put it: “The wrongs done to trees, wrongs of every sort, are done in the darkness of ignorance and unbelief, for when the light comes, the heart of the people is always right.”

Get your heart right, step into that light, and ease up on the paper trail for a while, why doncha?

 

3. You’re less at risk for potential legal trouble.

Over the past ten years, the landscape of records management has changed dramatically. 

Beyond just being an inconvenience, an outdated content management system can have negative implications such as civil and criminal penalties for noncompliance and rapidly growing costs. Does that catch your attention? It did for us. 

Luckily, significant advances in Enterprise Content Management (ECM) have been shown to benefit a wide variety of organizations in this regard. It’s easy to get up-to-date in no time.

 

4. Bolstered security = greater peace of mind.

Privacy and data protection are big ones these days, with cyberthreats at top-of-mind for some of the most prominent players in the industry. Just recently, Wired reported on the troubling rise in government-sponsored hacks ramping up during the pandemic.

Of course, your business may be looking at risks that look a lot less like an international spy thriller and a lot more like just messing up or losing all of your essential data or putting your customers’ information at risk.

No matter what you stand to lose, you need to make sure you have the right data security measures in place — which no longer means just having a paper shredder on site. If you’ve got a cloud-based accounting system, you need to look into how you’re going to protect your customers’ financial information.

The best news is that we work with companies of all sizes – so you don’t have to be a giant to get air-tight security in place for low-stress operations.

 

5. Two words: Bragging rights.

Okay, so maybe the water cooler talk may not precisely revolve around who saved the most paper that day, but we’re just saying that it could lean in that direction. Think how much fun you’ll have bonding with your coworkers once paper processing is a thing of the past!

Here, we’ll get things started with this freebie: “Wanna hear a joke about paper? Never mind, it’s tearable.”

 

6. You’ll save lots of moolah.

Four years ago, the United States Chamber of Commerce Foundation’s Corporate Citizenship Center (CCC) and partners released findings that “paper is the largest waste category, and that if [large] companies reduced paper waste by just 1 percent, it would save them nearly $1 billion.”

Think about everything that goes into the paper process, too, even beyond just the paper itself: printer upkeep, ink, postage, office space for files, and employee time. Take all of that off your plate by investing in an overhaul that takes you into the digital future. Your savings will skyrocket.

 

7. Getting to communicate with clients faster.

Electronic communication is nothing if not efficient. You can send over the right papers in a flash rather than having to rely on old, antiquated means of transferring. And since we’ve already outlined how much more secure this method is, it’s a no-brainer.

 

8. All of your dreams will come true — you’ll be respected, wealthy, admired by all, and will have no problems ever again! 

… Okay, like the bragging rights bit, this one may be a bit of a stretch. However, you’ll certainly be saving yourself lots of time and headache in your day-to-day, and with something like that, who’s to say that the rest won’t fall into place?

How to Keep Paperwork Processes Moving with a Remote Workforce

Organizations and workforces are always evolving, as we become more and more digitally connected many organizations are no longer limiting where their employees can work. Remote work has expanded in the past decade and is likely to continue to grow.

Recent events surrounding the spread of COVID-19 (also known as Coronavirus) sparked organizations across the globe to take precautions to ensure the disease doesn’t spread within their business, including enforcing that sick employees stay home or pivoting to an entirely remote workforce. Additionally, as local and state governments enforce lockdowns or shelter-in-place mandates, organizations must ensure all non-essential employees can work remotely.

As businesses make this shift, they likely have to completely change how their day-to-day tasks are completed. To best accommodate remote workers, it’s absolutely crucial to have the systems and processes that allow for work to be completed without any disruptions.

While the use of digital communication tools can be helpful for remote employees, typically more advanced solutions are required to effectively complete work outside the four walls of the office. Fortunately, with automation your organization can easily adapt to a remote workforce.

Document Management

Just about every organization relies on paper documents to complete day-to-day tasks. Unfortunately, when shoved into storage, these piles of paper are virtually inaccessible to in-office employees, and unless they take filings cabinets home, these physical documents are impossible to retrieve for remote employees. By storing files in a way that makes employees unable to find and view them, you put your business at risk for slowing down or completely halting key operations.

Enterprise Document Management (EDM) eliminates those issues both inside the office and remotely by securely hosting and organizing all your documents in one place. Employees can quickly retrieve the file and continue working without hiccups. To best support employees regardless of the platform they’re using, an EDM solution supports all popular browsers, meaning they can access key documents anywhere, anytime, on any device.

It’s designed to be user friendly, meaning your employees will be able to utilize the system without spending extensive time in training, which is ideal for those who work far from your central office. Enterprise Document Management is made to be versatile, and is designed to work with multiple locations, departments, and devices. Even with its versatility across your organization, it’s extremely secure, allowing for version control and user-based access to ensure that a document doesn’t get into the wrong hands.

Our solution is much more robust than free file-sharing programs, it has full imaging features (scan, separation, OCR), a comprehensive audit trail to track changes, allows for annotations to make updates to the document, retention scheduling to ensure best case evidence and document lifecycle and web viewer control to view all common document formats without needing the native application. All these features promote active communication across departments, offices, and employees.

Web Forms

Your organization likely has dozens of forms required in order to complete basic day-to-day tasks. Processes such as hiring, onboarding, sales and work orders, safety and service checklists, and more rely on forms in order to complete them. By using traditional paper forms you’re doing a massive disservice to your remote employees who either have to mail, scan, or email them back to someone who then has to manually re-enter the data into whatever system you’re utilizing. A paper-intensive form process leads to a loss of data, efficiency, and profitability. Fillable PDFs help alleviate some of these issues, but they’re clunky to use and are still error-prone, plus employees still need to manually enter in data.

Much like Document Management, web forms easily integrate with your ERP or other business software, meaning that an employee can complete a form and the data can immediately go exactly where it needs to.

This can be especially successful in human resources tasks that are typically paper-heavy. For example, during the hiring process, prospective employees typically need to complete a handful of forms. Rather than sending each form separately and hoping that it’s completed correctly, your human resources team can send a link to the application and background check forms, and once they’re hired, send a link to additional onboarding forms, prefilled with the information they put in on the initial application. For existing employees, forms designed for timesheets, time off requests, and other regular HR activities can eliminate the scramble of getting this information from employees who aren’t in the office.

Remote Accounts Payable

Accounts Payable used to be a paper-intensive process that could only be completed in-office. Using manual methods, the average invoice takes two weeks to process and requires approval from two to five people before it is fully processed. For remote employees, this could mean sending countless faxes and emails back and forth trying to get approval, and if a document needs to be sent from one office to another, it delays the process even more.

Implementing an Accounts Payable automation solution means that employees gain access to crucial documents as needed, and no longer need to manually enter and re-enter data, something that can prove to be a frustrating task if employees have limited desk space or a single monitor. Beyond that, your organization can eliminate late payment fees and take advantage of more early payment discounts.

Through AP Automation you can easily streamline your organization’s manual processes and significantly reduce invoice processing time and costs. The best part is you can take advantage of these benefits while supporting your remote employees, without needing to send documents back and forth for review or approval.

Why supporting remote employees matters

Having business processes that work effectively regardless of where employees are located is absolutely crucial in the case of emergencies such as the COVID-19 outbreak. By not having a plan and process in place, your organization may struggle to maintain day-to-day operations, frustrating employees and customers, and leading to loss of profits.

Fortunately, Mosaic can help your organization implement an automation system that is effective regardless of where your employees are located. Give us a call at 1-800-387-7859 to learn more.

What is Intelligent Data Capture?

A complete automation solution is more than just a single piece of software. By evaluating your organization’s needs and current processes, you can identify gaps and determine the best solutions to fill them. 

To best understand how software solutions can benefit your organization, it’s important to gain insight into how they work. Intelligent Data Capture is a crucial part of a successful automation strategy and can help take your existing document management solution to the next level. 

What is Intelligent Data Capture and how does it work?

In technical terms, Intelligent Data Capture (IDC) is the automated process of identifying and extracting critical information from incoming paper and electronic documents without manual intervention. 

In layman’s terms, IDC eliminates manual data entry by using technology. 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 and organize it. 

Mosaic utilizes our partner DocStar’s Intelligent Data Capture tool to help enhance our customers’ current document processes. The way their IDC works is that once a solution is configured, it “learns” the common document types you use and builds a knowledge database of these document types. 

What this means is that IDC can classify the type of document you input (for example a purchase order versus an invoice), then extract the key information from that document, validate it, and then input that data into your database, enterprise resource planning software, or another business system of your choice. This process is different than traditional Optical Character Recognition because it goes above and beyond simply identifying the data, it also extracts and inputs it based on your needs. 

Intelligent Data Capture is extremely accurate while still being simple to set up and configure. Rather than spending additional time on configuration, IDC’s unique self-learning abilities mean that you can simply submit a single sample of the common document types you use. This means you can begin utilizing your solution sooner while still having the benefits of a sophisticated solution. Because Intelligent Data Capture “teaches” itself, it’s flexible enough to grow and adjust alongside your organization’s needs.

The most notable features of IDC include invoice recognition and data lifting, forms processing, automated document classification (separates various document types automatically), and exports to just about any accounting or line of business application.

Other, less advanced, intelligent data capture solutions had lower accuracy rates and required a substantial investment in set-up and configuration. Today’s solutions, on the other hand, are easy to configure and intelligent enough to learn and adapt for maximum accuracy and flexibility.

The steps in IDC’s process look like:

  • Input
  • Classify
  • Capture
  • Validate
  • Verify
  • Submit

These steps, when done manually, can take significant time and resources, but with Intelligent Data Capture, it can be simplified and streamlined.  

How can IDC benefit your organization?

At its core, Intelligent Data Capture is designed to eliminate manual data entry from every paper document you may have. This includes any form, invoice, remittance, purchase order, or any other type of document you come across in order to complete your daily tasks. By doing this, you can significantly reduce your headcount and give your employees more valuable tasks to focus on rather than spend hours and hours completing manual data entry. Through IDC your organization can double or triple the output of staff members processing inbound forms, without making them work harder.

Plain and simple, why pay an employee to do something that can be done through automation?

Intelligent Data Capture also increases accuracy significantly. When people extract data, human errors are bound to happen. Whether that be an employee misreading something, or mistyping data, the consequences can be significant. With IDC, that risk diminishes to close to zero. 

Since this process is so much more efficient, your organization can also benefit from early payment discounts and avoid any late payment fees. 

How to implement Intelligent Data Capture

Mosaic has experience in deploying DocStar IDC for organizations of all sizes, and we’d be glad to help your business save time and money by eliminating manual data entry. Give us a call at 1-800-387-7859 to learn more about how we can help.  

 

The Value of Enterprise Content Management

Every decision for your organization requires you to take a look at its potential ROI (Return on Investment), even small investments can make a big impact on your organization. Many organizations don’t see the initial ROI when they implement an Enterprise Content Management (ECM) solution.

There are plenty of benefits of ECM, such as simplifying your existing paper-based processes, protecting your data, and reducing your reliance on physical files. Beyond clear day-to-day benefits, you can further improve its ROI by using your ECM as a stepping stone towards complete automation.

More than just a one-point solution

If you have a bucket with multiple holes, plugging just one of the leaks won’t stop the water from getting out. Just like plugging one hole won’t stop a leak, implementing a single point solution won’t solve all of your organization’s problems. While single pain-point solutions are effective at solving specific problems, they may overlook the cause of the issue.

By investing in multiple single-point solutions, organizations end up spending more money and wasting time. When they embrace complete transformation of their processes, they can eliminate the pitfalls that single-point solutions may have. While the concept of “digital transformation” can seem daunting to those worried about the initial upfront investment, the decision can be made easier by educating yourself on the specific benefits of a solution as well as how it can integrate with your existing business infrastructure.

DocStar, Mosaic’s software partner, recently published a white paper in partnership with Levvel Research titled “Tackling AP Automation with a Holistic Document Management Approach.” This report primarily focuses on organizations described as middle-market can directly benefit from a holistic approach to ECM.

In it, they identify middle-market as companies with $2 billion to $100 billion in annual revenue, and specifically looked at companies within this revenue range in North America.

They highlight that an approach to establish ECM ROI is by utilizing it on top of existing technology efforts, specifically within the Accounts Payable and Invoice Management space, but also within Human Resources, Contract Management, Sales Order Processing, and Quality Control. By integrating a cloud-based and scaleable ECM, the ROI greatly improves. This also means there’s a longer-term benefit to your organization.

Embracing Digital Transformation

The report highlights AP Automation as the entry point to full-scale digital transformation as described in 3 points highlighted in the report:

ECM drives ROI by expanding the value of a single technology implementation. Organizations seeking to maximize the ROI of an AP automation solution should aim for a best-in-class solution targeting a particular pain point, but that can also be applied beyond that space as resources grow. This enables an organization to increase the long-term value of a single technology investment and enables scalable digital transformation for companies determined to remain competitive.

ECM drives ROI by empowering departments and supporting processes across the organization. With a strong ECM platform, one solution can transform many functions. For example, advanced document management and workflow features can automate AP processes as well as HR onboarding, training, and form management. ECM can also support other departments, such as Accounts Receivable, Procurement, Expense Reporting, Sales, Customer Support, and the C-suite, as the platform is applicable to multiple business functions.

ECM drives ROI by comprehensively improving collaboration and efficiency and reducing costs. ECM helps reduce paper volume, manual data entry, and time-consuming manual workflows. It also facilitates more strategic allocation of back-office labor. By providing secure digital storage, ECM reduces the pressure on an organization’s IT department, which further contributes to better use of company resources and higher ROI. ECM also improves overall communication and streamlines back-office processes. ECM leads to savings from optimized labor costs, strategic staff reallocation, and a reduced need for outsourcing various back-office functions.

Beyond those three key factors, there are also additional trends to make note of:

Invoice receipt method: how does your organization receive invoices? Physical? Digital? A mix of the two? Do they come in the mail or over email?

Invoice data entry methods: how does data get input from your invoice to your ERP?

Invoice approval time: how long does it take from the receipt of an invoice to the final approval? A day? A week?

AP pain points: where do you see room for improvement within your AP process? What is slowing down employees in their process?

Barriers to AP automation adoption: what is preventing your organization from moving forward with implementing an automation solution? Timing? Cost? Understanding your barriers can better help prepare for selecting your solution.

Net benefits of AP automation: Understanding your organization’s specific benefits of AP automation can help you gain insight into exactly how a solution will work for you.

Next Steps

By gaining a stronger understanding of your organizational needs, as well as the benefits of ECM and automation, you can make an informed decision about a solution for your organization.

Implementing a complete system overhaul can seem overwhelming, but with the right resources and tools you can start seeing benefits almost immediately.

Give us as call at 1-800-387-7859 to learn more about how you can implement a holistic ECM solution.