I was chatting with a retired neighbor this weekend who asked about the new company I’m working for, starting today; OneDataSource. I gave the overview of ‘Process Automation’ in AP, how this company reduces overhead in AP processes by 80%.
He got it & shared how, back in the day, his construction company had to do something similar with payroll. It took four full time employees to manage payroll for a company of 160. Outsourcing that process to a service like ADP could have cut their own payroll for that function, it could have redirected many other resources for the company that were actually focused on their business of construction: the capital, benefits, the space in the office, etc. This doesn’t even cover the time value of money. If you can turn around a process in 15 hours instead of 100, the resources that are devoted to that process see a productivity increase of 500%. A business leader has more options at that point. What to do with those resources? They can redirect employees to more productive tasks, reassign them to other departments (there is a huge value to keeping someone on board who possesses the institutional knowledge of how a company works) or reduce your headcount if that is a priority.
ODS developed the onePAY software and service to deliver a simple and automated solution that enables companies to grow significantly with the resources they already have, or in some cases, with fewer. One AP person is now able to process hundreds, even thousands of invoices in 1/5 the time, and still have the bandwidth for other vendor management needs. OneDataSource often sees this traditional AP staff ‘data entry’ role convert to a higher value-add analytics role.
Simply put, onePAY automates the AP process, reducing the required labor-hours and associated costs up to 80%, and providing increased visibility into expenses and cash flow. ODS’s team of engineers and business analysts monitor the software and team’s performance to ensure the client gets the maximum ROI possible.
OneDataSource is a SaaS Business Intelligence/Business Process Automation solutions serving operational, accounting, data warehousing, HR and marketing analysis needs of organizations across North America. Solving the technology puzzle for both mid-sized and enterprise businesses, we guide our clients from the world of spreadsheets and manual data entry to fully automated data acquisition, warehousing, processing and analysis.
The company has a strong niche in multi-unit franchise operations. I’m excited to see where things go from here. I’ve been tasked with taking the company beyond this vertical.