ABP Beefs-up Accounts Payable and Cash Collection Processes with Version One

Anglo Beef Processors (ABP), the largest processor of Beef in the UK, is streamlining its accounts payable processes, significantly improving cash collection and freeing-up a significant amount of credit controllers’ time, by implementing document management and imaging software. This software from Version One (www.versionone.co.uk), which will be tightly integrated into ABP’s Movex ERP system, enables the electronic creation, delivery, authorisation and storage of incoming and outgoing documents including invoices, proof of delivery documents (PODs) and statements. ABP is also implementing Version One’s intelligent document processing system for the automated capture of data from purchase invoices, farmer records and timesheets.

ABP, which supplies beef to leading European retailers including Sainsbury’s and Asda, is rolling-out Version One’s full portfolio of solutions across ten sites. Dave Barratt, Group MIS Manager from ABP says, “Our accounts payable and accounts receivable processes are manual-based making them inherently time-consuming and prone to error. By implementing document management and imaging technology which will be tightly integrated into our Movex system, we’re automating these processes, eliminating paper-chasing whilst making substantial time and cost savings.”

Barratt continues, “Administration tasks will be removed from credit controllers’ everyday roles including the photocopying, manual retrieval, posting and re-posting of invoices, statements and PODs, freeing-up much of their time. With this additional time, they’ll be able to focus on improving customer relations and keeping better control on customer payment patterns, which will improve cash collection.”

With the new systems in place, purchase invoices, supplier goods received notes, PODs, timesheets and more than 18,000 annual farmer records will be imaged using a Kodak i160 scanner and then stored in the electronic archive. Outgoing documents including sales invoices and statements will also be automatically stored in the archive, and these together with the imaged documents will be instantly accessible to authorised staff over the Intranet and by drilling down through Movex. In the future, customers and suppliers will have access via a secure Internet link

The approval of supplier invoices, which currently involves managers across the ten sites physically signing each invoice, is being replaced with an electronic authorisation solution. The relevant approvers will be automatically emailed with notification that there is an invoice for approval. They will then be able to view the imaged invoice and approve, reject or query it directly from the desktop. Not only will this prevent hard copy invoices from going missing, it will provide a comprehensive record of who approved what and when and speed-up invoice payment processing.

Barratt says, “As customers will have PODs, statements and sales invoices automatically delivered to their inbox or fax machine within seconds and will be able to quickly and securely access these documents over the web, this will further speed up cash collection. Version One’s systems will also save us thousands of pounds in postage, stationery and third party archiving costs and will enable offices that are currently cramped with filing cabinets and document storage containers to be freed-up, making for a better working environment.”

Being committed to reducing its environmental footprint, ABP is pleased that by going paperless, its green agenda is also being supported. Barratt explains, “Each year, we have to provide evidence that we are actively trying to reduce the impact of our business operations on the environment. Version One’s paperless office systems significantly contribute towards our green agenda, helping us to build a more environmentally-friendly organisation.”

www.versionone.co.uk