Field Studies Council anticipates Savings of up to £100,000 per Annum with Version One’s Document Management
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The Field Studies Council anticipated savings of up to £100,000 per year by implementing Version One's document management system. Their previous manual invoice processing and payment system involved significant paper usage, data entry work, and costs. With Version One's system, invoices are now scanned and processed electronically at remote centers, approval and payments are automated, and remittances are digitally delivered, reducing costs by 90% while meeting payment terms. The organization expects to fully rollout the system across all 17 of its centers and integrate additional capabilities over time.
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Field Studies Council anticipates Savings of up to £100,000 per Annum with Version One’s Document Management
- 1. and Field Studies Council anticipates Savings of up to £100,000 per Annum with One’ Version One’s Document Management.
- 2. Testimonials “DbArchive has revolutionised our purchase-to-pay cycle” Mal Westfield, Financial Accounting Mngr, Endsleigh Insurance Services “Across the business, we are saving over £100,000 per annum” Alan Doyle, IT Manager, Nichols plc
- 3. Version One Introduction Established in 1989 – experienced Over 2,000 customers – financially stable Solely UK based software authors Represented by partners in 20 countries
- 4. Core Systems - Implementations
- 7. Document Flow Architecture Inv Inv Capture of incoming oic oic ee Electronic Files <XML> External communications Internal communications Email Document Scanning Internal documents Barcode OCR Fax Incoming Archiving (Scanning) Outgoing Archiving (COLD) Document Archive Web Core Communication User Access Workflow & <html> Document Business gateway & Approval Systems formatter Electronic Files <XML>
- 8. Field Studies Council Field Studies Council Richard Walker (Finance Director) Jason Cope (Finance Manager)
- 9. Agenda Background to Field Studies Council Business Issues The Solution Benefits Why Version One The Future Questions
- 10. Background – The Organisation Established in 1943 Educational Charity for Environmental Understanding National Network of 17 Centres
- 11. Background – Finance Function FMS = Sage Line 500 25,000 Invoices Each Year All Non-Purchase Order Related Invoices Invoices Received at Remote Centres Coding & Approval Before Posting to HQ Manual Registration of Invoice Cheque & Remittance Posted to Supplier
- 12. Business Issues Two Key Areas: Purchase Invoice Processing Payments and Output
- 13. Business Issues – Invoice Processing Delay in Invoices Reaching HQ Inaccuracy Because of Late Arrival Duplication of Effort Poor Quality Business Information Constantly Being Chased By Suppliers Paper Chase Internal Postage Costs
- 14. Business Issues – Payments & Output Costs Associated with Cheque Printing Stationery Costs Packaging Envelopes is Time Consuming Expensive Bank Transaction Charges Postage Costs Slow to Clear
- 15. The Solution Invoices Scanned at Centres Automated Invoice Data Capture Electronic Invoice Approval BACS Payments Automated Delivery of Remittances
- 16. Solution Benefits £100,000 Annual Savings! Now Meeting Agreed Payment Terms Number of Chasing Calls & Letters Reduced 90% Less Manual Data Entry Reduced Stationery Costs & Bank Charges Freeing Up Time for Centre Managers Positive Environmental Impact
- 17. Why Version One? Known From Previous Company Good Reputation Tight Integration with Sage Available via Datel - Turnkey Understood our Processes
- 18. The Future Complete Roll Out to all 17 Centres Business Intelligence Integration Use The Technology to Automate AR
- 19. Summary & Questions Business issues Purchase Invoice Processing Payments and Output Savings and Gains Reduce paper processes Reduce manual effort Reduce storage requirements Support our Green Credentials
- 20. Further Details Visit Version One on stand AF307 for: White papers Case studies Product details www.versionone.co.uk
- 21. Field Studies Council Any questions?