The Benefits of Formic

The benefits of Formic are simple, save time and money processing invoices.

Save time processing invoices

Time saving = 2 mins 24 secs per invoice
X 90,000 invoices per year = 216,000 mins
= 3600 hours
= 480 days
= 2 people full time @ £20,000 per annum
= £40,000 per annum saving!

Reduce anomalies and achieve corporate compliance

• 19% of invoices contain anomalies – further delays processing & increases admin costs
• Compliance with Sarbannes Oxley increasing pressure for accurate financial reporting
• Scanning invoices to store images electronically and input to a Document Management System - often a secondary time-consuming process

Multi-function intelligence delivers results

• Any multi-function device with "scan to file" capable of producing Group 4 TIFF images
• Formic Fusion software intelligently reads and extracts data from any document
• Multi-purpose – can process almost any document and form e.g. customer satisfaction, employee climate survey, account application
  

Please contact us on 0870 444 0994 for a free no obligation demonstration.