Revolutionizing Invoice Processing: A Banking Success Story with Custom Apps

For many banks, the administrative task of handling invoices is still a tedious and manual process, consuming valuable hours. This was the exact challenge faced by a prominent bank, and here’s how they turned the tide with a groundbreaking app, dramatically reducing their invoice processing time.

Our clients leverage solutions like the ones in this article to help our clients get the most out of their technology stack. We are able to help banks or other businesses across the USA with manufacturer-authorized sales and service of their products.

The Traditional Hurdle

Just imagine this – for every invoice the bank received, an employee would manually collect it, walk over to a scanner, and individually scan each document. Following this, they would return to their workstation, open each scanned PDF file, and painstakingly extract and enter the invoice data into the company’s Enterprise Resource Planning (ERP) system. This cumbersome process was not only time-consuming but also prone to human errors.

The Innovative Leap

Recognizing the inefficiency and aiming for modernization, the bank took the bold step of developing a custom app tailored to their needs. This app was designed to seamlessly integrate with Xerox® ConnectKey® Technology-enabled Multi-Function Printers (MFPs) and could also be installed on employees’ mobile devices.

Here’s how it transformed their workflow:

• Effortless Execution: Jim, an associate at the bank, had the responsibility of processing daily invoices. Instead of the tedious manual procedure, Jim could now load over 100 invoices into the MFP’s feeder at once.
• One-Click Process: With a single tap on the ‘Invoice Scan’ button on the MFP’s user interface, the invoices were directly funneled into the banking system. No more manual data entry, no more back-and-forth walks to the scanner.
• Rapid Turnaround: The bank’s custom app, designed with user efficiency at its core, meant that tasks that previously took hours were now completed in mere seconds. This rapid processing not only allowed Jim to allocate time to other pressing matters but also ensured that the MFP was available for other employees, optimizing equipment usage.

Tangible Benefits and Beyond

With the integration of the custom app, the bank slashed its invoice handling time from a staggering 40 hours a month to a mere 10 hours. But the benefits were not just in time saved. The streamlined process translated into significant cost reductions, improved profit margins, and a notable boost in employee morale.

Choose Pahoda Copiers & Printers to Help Your Bank

The story of this bank and its custom app is a testament to how innovation can revolutionize traditional business processes, leading to unprecedented efficiency and growth. 

At Pahoda Copiers & Printers, we understand the importance of integrating modern solutions to meet today’s business challenges. If you’re looking to redefine your operational efficiencies and elevate your business to new heights, we’re here to guide and support you. Reach out to us, and let’s embark on a journey of transformation together! 

FAQs:

Can custom apps be integrated with other office equipment aside from MFPs?

While this specific app was designed for Xerox® ConnectKey® Technology-enabled MFPs, many custom apps can be tailored to work with a range of office equipment based on the needs. When scanning is required, it will necessitate an MFP or copier to be able to address your needs.

Is data security a concern when using such apps?

Always ensure that any custom app used adheres to the highest data security standards. At Pahoda Copiers & Printers, we prioritize security in all our solutions.

Can small businesses also benefit from custom apps like this?

Absolutely! Custom apps can be designed to suit businesses of all sizes, ensuring efficiency and cost savings across the board.