Let Kyocera Cloud Information Manager (KCIM) take care of your frustrations.
Market research carried out by Time Finance revealed that 1 in 3 businesses see late payment as one of their biggest threats to survival. It really is a matter of life or death for many businesses.
While this is a widespread problem across all industries, recurring late payments can lead to even more severe consequences for SMEs, with 40% worrying about cashflow as a result. Unable to absorb the costs of missed or delayed payments, SMEs pay the highest price, but that doesn’t mean that larger enterprises are unscathed. Failure to meet payment deadlines can negatively influence partnerships, crush future investments, lead to poor customer service levels, and provoke hefty financial losses.
Why your payments are delayed
Experts at Amalto estimate that 61% of late invoice payments occur because of incorrect invoices, while 11% of customers report never receiving their invoices. But ultimately, excuses for late payments all boil down to one reason: inefficient document management. Many accounts payable and administrative departments still receive documents such as purchase orders, delivery notes, or invoices by email, which all too often end up in junk mail or do not get forwarded when a key employee is on vacation. Not to mention that manual invoicing and chasing up processes are time-consuming and open to human error.
On the other hand, the digital age has presented businesses with a new set of unique challenges which has made it nearly impossible to rely on paper-based document processes only. Today’s workers require immediate access to documents and information from different locations and devices. Passing paper documents from one person to the next for approval is not only incredibly inefficient but it also puts your valuable documents at risk of being lost or stolen.
How to speed up payment processes in your company
Now that we can all agree that manual document processes are no longer a viable choice for modern businesses, it’s time to look for a better solution. Firstly, to be able to process payments on time, businesses need to have all their documents easily accessible in a secure digital repository. Furthermore, automation is needed to speed up processes and reduce the likelihood of errors. To achieve a flawless workflow thanks to all these features and more, your business needs Kyocera Cloud Information Manager (KCIM).
Access and find files quickly
With a single point of reference for all your business documents, you can forget about wasting time searching through hundreds of online folders stored on your company network or filing cabinets in your office. KCIM provides a secure and structured way to store and archive your documents in the cloud. Due to the nature of cloud architecture, KCIM can be up and running in a matter of minutes without any complicated setup requirements, enabling quick and secure access to your business documents through a web browser. This means that you can access files via your phone, computer, and even HyPAS, thus creating the perfect hybrid work environment from day 1.
Furthermore, the KCIM platform offers a “one-click indexing” feature which further simplifies the labelling of documents and highlights specific keywords. This feature is immensely useful for admin and account employees as they can simply search for invoices by their unique number or customer name. In short, KCIM is all about working smarter.
Automate your document processes
Imagine if all your emails could be sent to a central digital repository without any human intervention. By integrating Kyocera Capture Manager, they can. To save your employees from doing extra work, Kyocera Capture Manager can be set up to monitor all emails sent to a specific address for attached documents. All these documents can then be automatically sent to KCIM for processing, ensuring no documents are misplaced or lost in the organisation, therefore, reducing the risk of late payments.
With a powerful combination of KCIM and Kyocera Capture Manager, your admin team will have more time to become strategic partners with management, giving critical financial updates that help fuel business decisions and maintain a good reputation with suppliers. KCIM is here to give your team the freedom to focus on what’s truly important for your business and allow your talent to put their brains to better use. Plus, you’ll never hear your supplier complaining about not delivering payments on time – everybody wins!
Time is money. And Kyocera is here to help you make the most of it.
So what do you say?
