"The 5280 Solutions team carried the necessary technical and functional AX experience to successfully deliver the Dynamic Payables solution within budget with no major challenges or surprises," said Pattie Wurm, KapStone Business Analyst. "Dynamic Payables will play a key role as we move toward a centralized accounting model to accommodate for taking on higher volumes from our recent acquisitions."
5280 Solutions' Dynamic Payables for AX is an end-to-end invoice automation solution built on the SharePoint platform. The web-based solution includes Optical Character Recognition (OCR), workflow automation, browser-based coding and approval forms and real-time integration with AX.
Prior to implementing Dynamic Payables, Illinois-based KapStone Paper, a leader in unbleached paper and packaging, had an accounts payable (AP) department that would manually process invoices being sent to manufacturing plants located in various parts of the country. Invoices would sit in a mail room or on a requester's desk for several days before being hand coded and faxed or e-mailed to KapStone's corporate office. From there, AP would scan invoices and file backup paper copies in storage racks, send e-mails to capture necessary approvals and manually code each item into AX. This offered KapStone very little visibility and created challenging month end/quarter end close procedures. Further, KapStone was ill-equipped to handle their projected increase in business growth without relying on additional AP headcount.
With the completed implementation of Dynamic Payables AX Edition, KapStone has been able to substantially reduce its manual processes by approximately 75%, and it is well on its way to seeing the additional benefits of automation.
Dynamic Payables AX Edition incorporates four key building blocks that are delivered over a foundation of SharePoint and years of real-world business and operational experience. Batch and transactional scanning, workflow, reporting, search and visualization and direct AX integration enable Dynamic Payables to expand beyond AP to automate additional paper-based processes like contracts management, employee on-boarding and expense management. "The Dynamic Payables SharePoint-based design and tight AX integration offered us the most flexibility with the least amount of risk," said Todd Sain, Director of Application Design & Support at KapStone. "We are now planning to extend the building blocks within Dynamic Payables to gain additional efficiencies in other areas of our business."
About KapStone Paper and Packaging Corporation
Headquartered in Northbrook, IL, KapStone Paper and Packaging Corporation is a leading North American producer of unbleached kraft paper products and linerboard. The Company is the parent company of KapStone Kraft Paper Corporation, which includes paper mills in Roanoke Rapids, NC, and North Charleston, SC, a lumber mill in Summerville, SC, and five chipping mills in South Carolina. The business employs approximately 1,600 people, and in September 2011 the company announced that they have ranked 20th overall in Fortune's annual list of the 100 Fastest Growing Companies based on growth rate, EPS growth rate and three-year annualized total return to investors. http://www.kapstonepaper.com
About 5280 Solutions
5280 Solutions (http://www.5280SharePoint.com) is a premier provider of SharePoint-based document management and invoice automation solutions. 5280 Solutions provides its AP Automation solution, Dynamic Payables, to mid-market enterprises who want to manage their documents, workflows and information with a browser-based solution that leverages Microsoft technology, specifically SharePoint. These solutions provide seamless and easy integration with Microsoft Dynamics platforms, portals and third-party reporting tools. The solutions also offer a highly cost-effective, server-based pricing structure that allows organizations to easily extend document and process management across departments.
Source: 5280 Solutions