The new solution allowed TEPS to easily offer better customer service by quickly emailing requested supplier invoices to their clients. The system turned out to be a huge time saver as well; TEPS has shaved off 20 man-hours a month which were spent on tracking down payable invoices out for approval. With DocuWare in place, “approvers” that are in the field on job sites can now review and approve invoices on their mobile device keeping the accounting process flowing smoothly in a timely manner.
The company’s receivable invoice turnaround time has also been reduced by 2-3 days each month, creating better cash flow predictions in a real-time setting. With total transparency, better business decisions can be made, and more critical tasks can be taken on as a result of implementing DocuWare.
“DocuWare Cloud allows us to do our jobs a lot faster. I can see where in the process each invoice is and easily know who I need to nudge to keep the system flowing,” said Pam Souza, Controller for Total Environmental & Power Systems, Inc.
Prior to implementing DocuWare Cloud, any invoice under $1,000 was paid with no review. With the new solution in place, every invoice is easily routed through a digital approval process, solidifying that every purchase is legitimate, the price is correct, and that the cost has been assigned to the right job number.
“We found that a lot of our invoices had inaccurate job numbers. With DocuWare Cloud, we simply have our project managers look at every invoice, large and small, and make sure everything is accurate. If the job number is wrong, the approver simply makes a digital note for us to change it. It is very important to apply our costs to the correct job and I’m happy to say we’ve improved the accuracy of our cost accounting by 90%,” stated Souza.
On the accounts receivable side, TEPS has enhanced their invoice turnaround time, narrowing the gap between completing a job and invoicing for the work, positively impacting their cash flow.