Canon launches modular software to streamline Accounts Payable
SYDNEY, 28 June 2012: Canon Australia, a world leader in business imaging solutions, today launched its new Invoice Processing Solution - IRIS, which is proven to deliver time savings of up to three days[1] a month according to research from AIIM Europe.
By automating time-consuming manual tasks, reducing receipt to payment life cycles, increasing visibility and swiftly loading data into back-end systems, IRIS not only helps businesses save time but also enables them to leverage their resources more effectively so their teams can work with greater efficiency. The transparency and accuracy of the solution also enables businesses to reduce risk and meet the compliance needs of their businesses.
IRIS is an advanced suite of data capture tools that scans and extracts key information from documents in a variety of formats to connect and integrate with the back office in real time.With automated data entry and indexing, IRIS benefits core business functions such as finance, legal, IT and any highly manual or complex processing environment. IRIS integrates seamlessly with Mulit-Function Devices (MFDs) from Canon and other vendors.
According to RS Consulting, invoice processing is identified as being the process which “causes the most hassle” within the finance department with over 70 per cent of companies receiving 50 per cent of their invoices in paper form. Especially applicable to the Accounts Payable (AP) process, IRIS has a range of scanning solutions designed to make the collection and processing of information accurate, usable, and scalable from small businesses right up to large corporations.
“Accounting is a very manual process that deals with high volumes of paper and a number of individuals, making it extremely complex and time-consuming,” said Luke Maddison, Canon Australia Group Manager, Business Marketing. “Suitable for small businesses or large enterprises, IRIS eliminates time-consuming manual data entry, reduces invoice processing costs and enables staff to get information more quickly and efficiently, freeing them up to focus on more productive and valuable tasks.”
“Canon’s focus is on improving access to and sharing of information for businesses by providing full integration between all of its software and hardware devices to further streamline the automation process,” Maddison added. “For instance, at the point of scanning to an MFD every document gets automatically tagged and stored electronically, making it easy for staff to search, access and process payments quickly and easily.”
Other key benefits of IRIS include:
Minimisation of manual data entry
Reduction in time required from invoice receipt to payment, resulting in improved supplier relations
Enhanced audit trail
Ability to deal efficiently with dispute resolution
Customisation of workflows to business needs (e.g. approval processes)
Increased visibility of un-posted invoices
Successful linked with back-end systems
Reduction of paper in the office
Documents can be compressed for storage savings and easier sharing
Confidently forecast and manage cashflow
Canon focuses on the electronic and paper document life cycles at the heart of businesses to ensure efficiency is maximised at every step. It works closely with businesses to design and manage customised document solutions with the right hardware solutions to enable them to meet the many challenges that businesses face. This includes everything from simplifying specific processes such as scan-to-folder at the touch of a button, through to complex process management solutions in HR, Accounts Payable and Mailrooms.
IRIS addresses four core business needs – Accounts Payable, Digital Mailroom, Compression and Conversion and End to End Document Management, and is available nationally from Canon direct or through Canon’s authorised Canon Partner Channel (CPC) network of dealers. Full specifications at www.canon.com.au/business
