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SpringCM Releases New Cloud Invoice Automation Solution
Published on Nov 12, 2010

SpringCM® announced the latest release of its Invoice Automation solution, delivered on its cloud enterprise content management platform. SpringCM’s newest release makes automating invoice processing easier, faster and more affordable to implement. In addition, new reporting and analytics features will provide customers with enhanced management insight into invoice cycle times and bottlenecks, resulting in lower costs and improved financial operational efficiencies.

According to a recent SpringCM survey, more than 70 percent of organisations receive over three quarters of their invoices in paper form. While automating invoice processing can reduce costs by 75 to 90 percent, more than half of the 100 respondents cited the perceived cost and resources required with on-premise software as barriers to automation.

“Many factors are prompting businesses to focus on ECM as part of a shift toward a SaaS or cloud model,” said Toby Bell, research vice president at Gartner. “The attractions for applications like invoice processing are obvious as it brings with it fewer costs for infrastructure hardware, software and management, and less complexity in the applications layer.”

SpringCM Cloud Invoice Automation eliminates paper from the invoice payment process and fully automates the workflow process from capture of invoice information, to matching, purchase order specifications, the approval and sign-off process, and electronic submission for payment to an Enterprise Resource Planning (ERP) system. With SpringCM, customers gain visibility into all of these processes as they occur.

“The impact on SGA and risk reduction are obvious to most organisations,” said Roger Bottum, vice president of marketing, SpringCM. “On-premise delivery models have been a barrier. But now with cloud solutions, automating the invoice process can be easy, fast and affordable to address.”**

Source: Business Wire

Vendor name: SpringCM®
Product type: Accounting | ERP | Invoicing | Reporting | Treasury Systems

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