Iron Mountain, an information management service provider, has launched its new Business Process Management (BPM) services which are designed to reduce invoicing costs for businesses.
The new BPM services can handle as many as 60 billion accounts payable transactions per year, said the company.
The company said, the new services will allow efficient processing of inbound invoices in multiple data formats while enabling seamless integration into legacy Enterprise Resource Planning (ERP) systems.
The services offer secure, transparent and structured document management and offer a standardised approach, capable of handling invoice data across multiple countries and legal entities, in any format or language, said the company.
Iron Mountain’s BPM services can be integrated independently into an existing IT infrastructure, including finance or ERP systems. Authorised staff can access the data throughout the process and retrieve documents online or have the originals delivered by one of Iron Mountain’s secure delivery fleet vehicles.
A new research by the company found that businesses are failing to exploit potential cost savings within their finance departments because they are unaware of the true cost of managing invoices.
Iron Mountain new BPM division general manager Bettina Wonsag said the research reveals that while many businesses feel they understand the overall costs of finance operations, almost half of respondents do not know how much it costs to process a single invoice.
Wonsag said, "Despite the huge savings possible, our research shows that many are not aware of the potential to reduce invoicing costs. Our new BPM services will take paper out of the process, save businesses money and improve efficiencies."
The new BPM services will be supported by a custom-built processing facility in Bratislava.
