PaperFree partner M-Files recently shared an in-depth study on how its solutions helped an Australian HVAC company achieve full control over their accounts payable processes plus full ROI in less than a year. The client, Bossair, provides a full range of commercial heating, ventilation, and air conditioning services to customers in Queensland, Australia.
Bossair's operational pain point was accounts payable - HVAC businesses rely on parts and services from a variety of different suppliers and manufacturers and the pile of invoices became too much for the 40 in-house staff. The paper-based workflow involved physical copies of each and every invoice which were then painstakingly hand-annotated with purchase order (PO) information for processing. Once approved by the employee who created the PO, the paper invoice returned to accounts payable where the form was scanned and digitally stored, and payment was issued.
Naturally, this process was time consuming, prone to problems via lost documents, and took employees away from other important duties. Brenden Lamberth, director of Bossair, said, “This process took between five and 30 minutes per invoice and we had thousands of them every month. This presented a massive opportunity for timesaving and cost reduction, so we investigated the possibility of a more automated solution.”
In their investigations, Bossair found the M-Files content management product and worked with a local M-Files customizer to implement their solution. Their system was up quickly, and has worked flawlessly from day one to receive invoices electronically, code them into the system, collect metadata digitally, get approvals digitally, and complete payment all without ever having to print out documents or handle them manually.
Due to the faster intake of invoices Bossair has seen substantial returns on their investment in M-Files. They report that it has also reduced double payments, missing payments, and they have been able to take advantage of early payment incentives that their vendors offer. The returns have been so substantial that the solution has paid for itself in less than 12 months. Employees are no longer tied to their desks to approve paper forms, and can now issue approvals remotely and have more time to attend to other responsibilities. Bossair also shared that employees took to the M-Files system quickly and have found it to be an effective and easy to use tool in their daily workflow.
Bossair has been so pleased with their solution and is currently in the midst of a second M-Files project to support their ISO certification documentation and employee onboarding process.
This article was based on a recent M-Files case study. Learn more about content management solutions from M-Files.