A Paperless Solution for Enhanced Accounting Efficiencies
- Location—Hebron, Kentucky
- Industry—Leading global provider of filter media
- Save time and money by automating the company’s existing paper accounting and documentation processes
- DocStar® Enterprise Content Management (ECM)
- Artsyl docAlpha
- DocStar AP Automation
- Seamlessly integrated with existing software applications to automatically capture, save, and index electronic material for easy retrieval
- Reduced time spent on payroll by 75%
- Allowed for cross-referencing of topics across multiple financial categories
- Eliminated invoicing errors
In 2006, BWF Envirotec USA became the U.S.-based partner of the world’s leading provider of high-quality filter media. Family owned and operated since 1989, the company is now part of a global network that spans 50 countries and produces more than 9 million ready-to-install collector bags, liquid filter cloths, belts, and covers for industries worldwide.
“Our targets include just about anyone that emits something into the air in North America,” said Ken Pincumbe, chief financial officer, BWF Envirotec USA. “It’s a vast marketplace that covers everything from power generation to the production of metals, food, chemicals, and pharmaceuticals.
“The market is also highly competitive. Although we’re the largest player in the field, we’re still in a commodity market that includes four other leading suppliers. Overall efficiency is essential for not only maintaining market share, but expanding reach. As a result, we’re committed to doing more with less to double sales by 2020.”
Moving forward with a paperless solution
According to Pincumbe, other organizational challenges included reconciling the company’s existing bookkeeping and accounting activities with the procedures used by its parent company. While BWF Envirotec USA was still using paper, the organization’s Offingen, Germany-based headquarters had long since transitioned to high-tech systems that electronically record transactions and other operations.
After a lengthy review process, BWF Envirotec USA selected the DocStar ECM solution with advanced workflow and reporting, as well as Artsyl docAlpha intelligent data capture—a system designed to save documents from virtually any input device for centralized storage and access from any location across the globe. It also smoothly integrates with existing software applications to automatically capture, save, and index records for easy retrieval or tracking across multiple versions.
“We were struck by all the positive online reviews for the DocStar system and the responsiveness of their support team,” offered Rachael Gardner, accounting assistant, BWF Envirotec USA. “They worked with us to understand our needs, answer questions, and explain the solution’s benefits and installation process in detail. We are a two-man accounting team and didn’t have the time or bandwidth to start from scratch. From day one, DocStar ECM made the entire transition seamless and easy.”
The DocStar implementation process
Starting January 1, 2017, DocStar and BWF held weekly calls to gauge the status of the solution’s implementation while training Gardner in its operation. The solution went live at BWF in early May—just four months after kick off.
After going live, the company immediately began to realize significant returns from the completely automated, paperless system. For instance, the weekly time spent on payroll dropped from 40 hours down to 10. Invoicing errors were eliminated altogether with DocStar AP Automation, while a much higher degree of visibility was added to the company’s accounting efforts, since accounts payable activities were linked to the general ledger.
“We spent so much time creating, storing, and then looking for paper files,” explained Gardner. “With DocStar ECM, the information we need is at our fingertips. Point, click, and the data is in front of you in seconds. Plus, there are so many ways to cross-reference topics across multiple financial categories to get what you need instantly. Invoices are processed and paid earlier to save time and money. Audits are performed in hours instead of days. Issues are resolved with the client still on the line. We could never do these things before.”
Enabling a balance between home and office
Going forward, Pincumbe believes DocStar solutions will be integral to BWF’s planned growth. “We’re a $30 million company with a two-person accounting team,” he said. “I know similar companies that have entire staffs handling the same workload. With DocStar ECM, I don’t believe we’ll have to hire staff or even outsource additional work as the company continues to expand. Rachael and I are doing everything in a 40-hour work week. Quality of life is important around here, and DocStar ECM has played an important role in enabling both our home and office lives.”