Chimpkey

PDF Invoice to XML Conversion for Invoice Automation

Achieving a Paperless Office by Using a PDF Conversion service

Even though it may not be possible to absolutely go paperless in business administration, the reduction of paper consumption through the creation of functional and shareable electronic information will go along way in boosting efficiency. With ChimpKey you can convert information from paper to electronic and process documents with ease.

ChimpKey allows businesses to exchange documents like invoices, monthly bills, purchase orders, medical forms, survey forms, questionnaires, etc in PDF format only to have the receiving party hand enter the information into their systems. As result it’s advisable to get ChimpKey it’s capable of PDF to XML conversion, PDF to EDI conversion as well as PDF Invoice conversion. ChimpKey will read the data off the PDF, then deliver a file that can be imported directly into the system thereby eliminating printing the data and entering into in house systems.

Furthermore, by automating your data processing with ChimpKey you’ll have no need to spend time on the quality control process like data verification or validation. This is common with the manual process. Your documents will also have the opportunity of interacting with each other, information will be pushed in with your accounting system and order entry or custom built program.

The majority of e-document service providers out there are more concerned with high volume suppliers who send EDI or similar documents directly from their billing systems. Suppliers end up spending more time and money on changing their billing systems. This may not be affordable for a small business owner nor will they have the time or patience to do so. Some providers offer portals for low volume businesses for the purpose of creating and sending their invoices. This option may not be ideal for medium-based businesses with their own billing systems. In most cases its advisable to make use of software as a service (SaaS), like ChimpKey that’s flexible.

There are great benefits from working towards reducing the cost of processing your documents and increasing visibility of your transactions by going paperless. Embracing ChimpKey that will make conversion and processing documents easier. You can communicate with your different systems by linking them together by using the same electronic paperwork that you are using already. This eradicate the redundancy and data entry mistakes made by people entering the data. As the volume of the data you need to process increases, you won’t need extra data entry staff, you already have ChimpKey that can handle any volume of data.

Software like the ChimpKey PDF to XML converter can automate your business documents and move you leaps and bounds towards the paperless life.

You can contact ChimpKey at 888-373-1365 or info@chimpkey.com

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Best Practices using Automation with Accounting Technology

Increasing your Bottom-Line

Lets take a look at the best practices we’ve gleaned over the years from working with our customers as they implement PDF automation technology that integrates with any software solutions :

  • Encouraging vendors to move away from paper and toward electronic PDF format by creating purchasing documents in a digital form from the start. Electronic invoices can be saved in PDF format so they can’t be altered and emailed to the company.
  • Reviewing the company’s processes to ensure they’re truly efficient. Automating a bad process simply makes a bad process faster and really doesn’t solve the problem.
    Centralizing the accounts payable processes. All vendors should send their invoices to a central office so the individual branches don’t need to manage documents.
  • Standardizing the company’s review and approval process so everyone can follow the same procedures. With new employees having workable guidelines.
  • Automate what can be automated. and streamline the rest. In cases where purchasing or receiving doesn’t have strict rules with process. An example is three-way matching. Automating may be difficult and the process should be simplified and standardized.
  • Don’t try to make the initial implementation too large. Consider streamlining certain processes in phase 1. Automating in phase 2 with streamlining and automating another area in phase 3. Once staff has seen what the technology can do in its early stages, they’ll envision other areas where it can successfully used. Future phases are likely will be easier to implement because of trust and familiarity.
  • They plan to expand the paperless solutions to other areas of the company that currently maintain the paper-based processes. It helps to more easily and gain management approval. It will maximize the company’s investment in a state-of-the-art document management system.

Lastly and most importantly, get the executives involved Executives can be shown how they can gain visibility with increasing business intelligence with ChimpKey. Executives can see processes improved, discounts gained, and productivity increased for PDF invoice processing and other data.

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What Companies Stand to Gain by Using Invoice/Order Automation

Business Process researchers have been able to prove that there is a high correlation between invoice/order automation, low cost per invoice and high on-time payment percentages. This means there are lots of benefits for companies that decide to embrace e-invoice processing instead of manual processing.

A lot of companies are still enmeshed in manual routing of invoice which is often characterized by lengthy approval cycles, missing information on invoices, decentralized invoice receipt, missing invoices and so on. As a result of this, it is very essential to go paperless in order to eliminate these challenges. Automation with ChimpKey reduces risk and boosts cash flow management so profitability will be enhanced.

For non-purchasing-order (non-P.O) invoices, their processing is more challenging and that is why business shouldn’t be entered directly into their ERP systems without initially carrying out some kind of validation or subjecting them to an approval workflow. If the majority of your invoices are non-P.O, ChimpKey will give you the opportunity to capture your transactions for analysis, streamline accruals and eradicate manual touch points.

Moreover, by using ChimpKey, the non-P.O invoice processing problems will be broken down while technology and enforcement procedures will be applied to boost controls as well as visibility so that straight-through processing rates will be increased. Line-level details on non-P.O invoices will also be preserved so that procurement will be visible for in-depth analysis.

ChimpKey saves paper and time which will eventually lead to reduction in the cost of running business. Errors at the source are eliminated while suppliers of all sizes will be allowed to connect easily and inexpensively. This will lead to an enhanced collaboration with suppliers which will guarantee businesses running smoother.

Furthermore, all purchase orders, receipts and contracts will be easily matched to invoices with ChimpKey and various degrees of supplier sophistication will be accommodated. Compliance will also be enhanced across many dimensions like contracts, preferred suppliers and worldwide e-invoice tax regulations. One hundred percent capture of invoice volume will be achieved and earlier visibility will be provided into cash requirements so that provisions for them could be easily made.

Besides, latency in invoice and payment processing will be eliminated while the volume of supplier inquiries will be greatly reduced. Using ChimpKey automation application with multilingual capabilities, flexibility will be enhanced which will lead to greater efficiency. Your company and suppliers will also be provided with global and localized support which will go a long way to boost relationship and processing. Indeed, ChimpKey invoice/order automation is the best choice for forward thinking companies who are seeking ways to boost performance and profitability, but it is important to make use ChimpKey so that the best result will be achieved.

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