OmniSource Corporation is one of North America's largest processors and distributors of scrap and secondary metals. They collect, process, resell, and trade a wide variety of ferrous and nonferrous scrap from more than 70 U.S. scrap collection and processing facilities. OmniSource has the capacity to process seven million tons of ferrous materials and more than a billion pounds of nonferrous metals each year.
OmniSource came to Imaging Office Systems searching for a solution to an accounts receivable process that had become cumbersome and almost unmanageable. At the time they had six employees handling AR tasks with their own process. Everything was on paper and required multiple copies. They had an additional challenge that is common in their industry, there were often discrepancies in payments received vs invoice amounts but they had no way to efficiently manage or track these discrepancies.
"Imaging Office Systems could handle our volume and customize a solution that also met the unusual aspects of our problem. The IOS team took the time up front to really learn our procedures and ways of doing business – the efficiency impact was almost immediate."
Cash Applications Supervisor
Imaging Office Systems knew that an Enterprise Content Management (ECM) system needed to be installed and implemented to solve OmniSource’s challenges. Their first steps included writing a customized accounts receivable software workflow that was integrated into OmniSource’s existing accounting processes. The IOS team also spent time learning the AR procedures up front so the new processes didn’t feel so different to the staff and would continue to work easily with their other accounting processes.
Key features of the IOS solution:
Implementation of the initial solution was so smooth and successful that OmniSource came back to IOS to have them write a new workflow for their payment process. Initially payments were received at the bank and OmniSource had to wait 24 hours for copies of the checks to be overnighted and then entered into the system. The new system handles all receivables electronically and payment processing happens in real-time.
Share this case study
Help is just a few form fields away. Technology is awesome.