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Workflow Automation Experts at Metafile Provide Insights For Year End Success for Financial Departments
Publish Date : 11/26/2007 7:36:00 AM   Source : IT & Management News OnlyPunjab.com

http://www.metaviewer.com - Workflow solution provider Metafile, a Minnesota based content management firm dedicated to providing streamlined financial innovations, is helping firms avoid the mad scramble of a year end spent locating and gathering all documents necessary to adequately close out their books.

The lack of workflow automation solutions, in most instances, will equate into a significant loss of Days Working Capital (DWC) for all too many firms. Content management solutions, like Metafile's MetaViewer, were designed to alleviate the every day concerns that are amplified by the frantic time periods in either the calendar or fiscal year.


"When developing a new workflow automation process with a client, we typically see a lot of the same issues when it comes to how they manage their financial documents," states Jim Mandt, Metafile's VP of Technical Support. "Busier times of the year, like year end, will not necessarily cause these issues, but it will amplify them."

Mandt, who for decades has been developing content management solutions, and Nick Sprau, Metafile's VP of Marketing, share tips below for any firm looking to upgrade their workflow processes:

  • Automate
"One of the first tasks we undertake when upgrading a new client is to automate all existing data within one central database, providing financial departments all necessary information via point and click, rather than dig and shuffle."

  • Ensure Easy Retrieval
"Automation is a vital first step, but if data cannot be found, the over-arching problem of being unable to locate necessary documents quickly is not solved. MetaViewer was developed to ensure any information existing in a database could be queried from anywhere in the world, using as little as one keyword of text."

  • Go Paperless
"When I first began working with Gate Petroleum, a long-standing client of ours, they were processing over 6000 paper invoices per week," states Sprau. "Its corresponding cost was severely crippling any growth potential."

Per a recent study by analysts at the Aberdeen Group, paper invoices cost firms up to 78% more to process than e-invoices. At a frantic time of year like year end, the corresponding cost can rise astronomically.

"Streamlining into a paperless process became a critical necessity, not just a pleasant convenience, especially when it came to closing out our year," comments Karen Apps, Gate's Payable/Fixed Asset Manager.

  • Connect
"Collaborate closely with vendors, remote offices and departmental managers," continues Mandt. "This is important anytime but vital at year end in order to ensure questions are answered and disputes are resolved quickly and accurately."

Sprau states, "MetaViewer is designed to facilitate this process. Secure web-based access for remote offices eliminates delays in communicating vital information, while automatic vendor status notifications ensure both parties remain on the same page. Text messages to and from departmental managers along with all transaction documents are easily exchanged right within the product. This 'ad hoc workflow' and instant communication greatly speed up processes that can fall outside the formal financial workflows."

For more information on Metafile's MetaViewer, or to download previous case studies, please visit http://www.metaviewer.com/ittrium/visit?path=A1x2b0x1x79y1x2cex1x67

About Metafile
Metafile Information Systems, Inc. provides workflow automation solutions via customizable content management solution MetaViewer. A privately held software development and integration firm, Metafile has helped the financial departments in firms such as Winn Dixie, Gate Petroleum, Wellborn Cabinet and Allied Beverage streamline accounts payable and accounts receivable processes for over 25 years. More information on Metafile & MetaViewer may be found online at www.metaviewer.com



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