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Allied Capital Success Story

Before implementing a document management solution, Allied Capital was forced to rely on physical paperwork and manual filing methods.

Like most factoring or commercial finance companies, Allied Capital’s customer base is composed of companies who work with large amounts of receivables and must wait 30 to 60 days to collect. By buying their invoices, Allied Capital provides their customers with 80% of their immediate income and distributes the remaining 20% in the next four to eight weeks.

Every day, Allied Capital receives a huge number of invoices and checks that must be carefully processed and then filed. Previously, all documents were received through a handful of fax machines that ran throughout the day and frequently needed to be refilled with paper. Bringing in thousands of pages daily, they frequently had to move archived documents to an off-site storage facility.

As a result, their thriving business left them with growing operational costs and a staff continually bombarded by an impossible workload. With so many incoming documents, they were forced to physically file them by date, which presented problems when they needed to locate archived files. Allied Capital knew their daily tasks were simply taking too much time to complete. They couldn’t continue to bring on new clients and keep up their fast turnaround.

“We wanted to get something that would help us continue to fund our clients the same day,” Lisa Trzupek of Allied Capital says. “If we didn’t have this paperless system, we’d have to take a day or two to get funds to our clients,” she says.

Shortly after implementing PaperWise, Allied Capital brought on a new customer whose demand for service was equivalent to their entire workload. Without a well-engineered document management solution, they would have had to hire new employees. So much efficiency was gained through PaperWise, they have no problem servicing all of their customers without needing additional staff. “It’s a great product. We’re really happy with it,” Lisa says.

In addition to generating more profit, document management assists Allied Capital in better serving their customers.Fast turnaround and quick answers to service requests significantly contribute to their sharp competitive edge.