How to Shrink DSO in Your Company
The transportation industry is responsible for the transport and distribution of commercial and industrial goods using commercial motor vehicles (CMV).
Developments in technology have driven innovation within this industry that has made the transport of essential goods more efficient and cost-effective. Recent developments such as global positioning system (GPS), electronic logging devices (ELD), autonomous vehicles and radio frequency identification (RFID) are all being utilized within the transportation industry to make the transportation process as safe, efficient and accurate as it can be.
As these needs and individual businesses grow, more and more companies are finding it necessary to use management systems to track, modify and complete orders.
Paperwise's flagship document management software helps transportation companies overcome the tedious and time-consuming process of managing the manual order processes. Through workflow automation and document management tools, our software automates billing, payroll and other business processes in an effort to simplify transportation workflows and expedite shipping and delivery.
Step 1: Driver Paperwork
The Paperwise system is integrated with current local scanning, truckstop or in-cab solutions in order to make getting documents back to the home office as easy as possible. These documents can include: lumper receipts, bills of lading, proofs of delivery, scale tickets, fuel receipts and repair bills.
Step 2: Document Identification
When documents are received, they will typically need to be reviewed for image quality and identification. Within any given company, the responsibility for who performs this function varies. Some companies have individuals whose sole job is to receive these documents. When those operators open their work queue, they have the ability to see batches of trip documents sent in from drivers across the company. They will go through each individual document and electronically tag them.
These tags tell the system where to automatically route the document once the operator has marked their task complete.
Step 3: Automated Document Routing
Once the documents have been routed from the original operator to individual departments, they will show up in specific departmental queues, as determined by the document tags.
Business processes are difficult to enforce as every associate may have a different way of completing a task. By using an automated workflow solution, internal processes are accelerated and consistency is maintained. Daily tasks route documents quickly and accurately to the necessary location or personnel as soon as they enter the Paperwise system.
This is accomplished using the Paperwise workflow tool. This tool is designed for companies to create, manage and modify specific workflows that allow owners, and other authorized users, to direct documents and tasks to the responsible user.
Step 4: Invoice Generation
Once documents are routed to billing, the customer can be sent an invoice. The invoices can be sent electronically to the customer for payment via email or a client portal. However, those invoices can also be printed and physically mailed to each client.
Generating invoices can be done using the Paperwise system or through any application with which it integrates. For example, Paperwise integrates with TMW applications, as well as financial applications like QuickBooks and Salesforce.
No matter how the invoice is sent, within the Paperwise system, as each invoice is created, it will be assigned specific document tags to associate that specific document with the entire set of trip documents.
Step 5: Rendition Billing
Paperwise automatically assembles the customer invoice, as well as any other documentation required to satisfy the invoice. These will then be collated and distributed to the client. These packets can be printed, emailed or presented on a company intranet or portal.
The Paperwise Rendition Billing solution streamlines the billing process, reduces daily sales outstanding and improves turnaround by up to 45 percent. This solution automatically receives invoice data, formats the invoices, gathers all of the supporting documents needed to satisfy the invoice and collates those documents for print or email.
Tasks that previously consumed hours are completed in minutes. Invoices go out the same day paperwork is received, which means staff can spend those hours on other critical business functions.
Step 6: Payroll & Settlements Processing
Finding qualified drivers can be time consuming considering the resources necessary for processing applications, reviewing resumes and conducting background checks. The Paperwise solution allows businesses to hire and manage drivers online.
Driver settlements and payroll can be automatically sent to Paperwise for storage. From the Paperwise system, those documents can be downloaded and emailed out, or presented on a secure company portal.
The Automated Trip Processing solution provided by the Paperwise software system is designed to simplify transportation business workflows and accelerate document processing. With the ever-changing technological climate, it is imperative for businesses to keep their management systems efficient.