Increased Profits with AP Automation
Overwhelmed with paper-based multi-location accounting approval processes,
Hose & Rubber looks to ENet Docs for better document management
and to increase invoice processing speed.
Products, Services and Reliability. For over 40 years, Hose and Rubber’s trained staff has provided decades of experience to a variety of industries. With corporate headquarters in Salt Lake City Utah, and 5 additional locations in Provo Utah, Denver CO, Casper WY, Billings MT and Williston ND, Hose and Rubber assists with hydraulic, industrial, and automotive hose needs as well as with v-belt and power transmission products and services.
With 6 locations located in 5 different states and after merging of their two sister companies and two different databases, they needed a way to centralize their business documents and make them accessible to all the stakeholders in their various locations. They recognized that to continue to utilize their paper-based processes, with key documents stored separately, was not an efficient way forward.
Valuable time was wasted looking for essential documents in filing cabinets, printing and attaching them, and then sending them to other locations for approval. They recognized the need for a powerful document management system with workflow capabilities that would improve processes and allow stakeholder visibility throughout the organization.
Hose and Rubber’s accounting department also needed to improve its invoice processing speed. With one full-time person processing invoices manually, she was not keeping up with the demand. She sometimes worked overtime and had help from other team members.
Speeding up the process would allow them to take advantage of prompt payment discounts leading to more profit. They were also able to keep their current staffing level.
SOLUTION!
They chose ENet Docs after the first demo since the software provided them with all the functionality they required. Document retrieval became fast and easy with ENet Docs’ full-text search capabilities including the ability to search by type and/or a specific date, title, text within a document such as part number, PO number, and Invoice number. Once they implemented ENet Docs powerful workflow, they no longer needed to push paper around the various offices. They now utilize the workflow feature to get instant approvals from their different branch managers on AP documents along with time-stamped electronic signatures. They appreciate the audit trails and the security that ENet Docs provides them.
After a successful launch with ENet Docs, they were now ready to tackle Accounts Payable Invoice processing and searched for automation options to help in that area. Hose & Rubber chose software provider Trapeze for Invoice Processing because of their integration with ENet Docs which had quickly become a valuable tool for their organization. Their key goal was to speed up the processing of their invoices and eliminate errors of manual data entry without having to hire an additional employee.