SpringCM Announces New Release of Cloud Invoice Automation Solution

SpringCM® released its new version of Invoice Automation solution, delivered on its award-winning cloud enterprise content management platform. SpringCM’s newest release makes automating invoice processing easier, faster and more affordable to implement. In addition, new reporting and analytics features will provide customers with enhanced management insight into invoice cycle times and bottlenecks, resulting in lower costs and improved financial operational efficiencies.

“Many factors are prompting businesses to focus on ECM as part of a shift toward a SaaS or cloud model,” said Toby Bell, research vice president at Gartner. "The attractions for applications like invoice processing are obvious as it brings with it fewer costs for infrastructure hardware, software and management, and less complexity in the applications layer.”According to a recent SpringCM survey, more than 70 percent of organizations receive over three quarters of their invoices in paper form. While automating invoice processing can reduce costs by 75 to 90 percent, more than half of the 100 respondents cited the perceived cost and resources required with on-premise software as barriers to automation.