When stacks of aging invoices build-up in the accounts receivable department, American Tire Distributors automate invoices with capture and OnBase for 100% ROI in less than a year.
On the road to success
Since 1935, American Tire Distributors has supported the nation’s tire dealers, service repair shops, and automotive performance shops with prompt and convenient delivery of the products, tools, and programs needed to service a country that’s increasingly on the move. Today, these same customers rely on American Tire Distributors to provide a complete package of tires, custom wheels, service equipment, shop supplies, and a full complement of business resources needed to meet the challenge of a demanding and competitive automotive retail landscape.
Their problem: Aging invoices and hidden information
As American Tire Distributors grew in success, so too did the accumulation of paperwork in the company’s accounts receivable department. Several mergers and a rapidly growing customer base saw the number of daily deliveries and, subsequently, aged accounts skyrocket. As a result, the credit department found it difficult to process the documentation involved in accounting for collections from late payers.
To monitor these late-paying accounts, American Tire Distributors’ accounting system created a weekly aging report of overdue balances with green-bar paper. However, because invoices and signed delivery receipts were being returned by the truck drivers to the company’s distribution centers, it was difficult for the credit department personnel to verify if merchandise had actually been delivered.
To further complicate matters, information about each customer’s credit limit was not consistently maintained or immediately accessible to the credit agents. American Tire Distributors turned to KeyMark for a solution.
Our solution: Intelligent capture with OnBase
KeyMark first performed an onsite analysis of American Tire Distributors facilities to review the credit department’s processes and forms and evaluate the company’s operating environment and accounting system. After the initial discovery, KeyMark proposed a solution that would streamline invoice processing in AR while integrating with American Tire Distributors’ existing infrastructure to provide credit agents with immediate, online access to all the information necessary to perform their jobs.
KeyMark introduced intelligent capture technology to grab data from physical and digital files and integrate the captured data into OnBase – an enterprise content management (ECM) solution from Hyland Software. Specifically, the capture technology identifies and lifts six key values posted on every American Tire Distributor invoice with near perfect accuracy and minimal human intervention. Once the data is captured, it’s routed and indexed into OnBase for 360-degree, secure access.
Results: 100% ROI in less than a year
The solution was implemented without any custom coding in as little as one month. Where previously American Tire Distributors relied on four individuals filing and managing less than 7,000 signed invoices per day, the company can now manage over 50,000 documents with a team of two, performing capture across a range of departments including accounting, accounts payable, marketing, procurement, sales, and beyond. This redeployment of personnel and the increased turnover of receivables has equated to well over a 100 percent return on investment in less than one year. Plus, over 300 professionals within American Tire Distributors now have access to the OnBase, providing them a complete picture of customer transactions and records. Today, American Tire Distributors credit agents can retrieve any invoice from their desktop PC using OnBase’s search capabilities, and quickly generate reports that track all invoices delivered each day.
Start your own success quest!
Invoice processing is one of the most beneficial ways we apply capture technology because of its high payoff/ROI with little-to-no setup time or training.
Need to process some invoices? Let us bring what we know about intelligent capture and OnBase to your business. It all starts with a conversation!
