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LSUK to Make Annual Savings of Over £100,000 by
Electronically Processing One Million Documents
LSUK - Leading UK supplier of automotive parts and technical
expertise - will be electronically storing and processing over one
million business documents with Version One's portfolio of document
management and imaging solutions. With these solutions tightly
integrated into LSUK's Infor ERP system, all inbound and outbound
documents will be electronically processed, stored, retrieved, delivered
and authorised, making cost savings in excess of £100,000 each year.
LSUK is implementing Version One's software in a two-phased approach
beginning October 2007.
LSUK's current processes for handling and managing documents are
mainly manual and paper-based. 20,000 purchase invoices arriving into
the organisation every month are manually entered onto the ERP system
and then manually checked against the corresponding goods received notes
(GRNs). These invoices, together with a range of other business
documents, are posted and faxed between head office and the 55 branches
for authorisation and information purposes. All paper documents are then
archived for up to six years at LSUK's head office and in storage areas
at each of the branches.
Jessica Kemp, Systems and Procedures Manager from LSUK says, "The
decision to eliminate paper and automate our business processes will
save us over £100,000 per year. Over one million business documents,
from invoices and statements through to credit notes and
proof-of-deliveries, will be electronically processed, delivered and
stored, improving organisation-wide efficiency and customer service
whilst freeing-up storage space."
With Version One's systems in place, purchase invoices will be
scanned-in and the invoice information will be automatically captured
and verified against the Infor system. The imaged invoices will then be
automatically stored in the electronic archive and linked with the
corresponding GRNs to help invoice matching. These and other documents
will be quickly and easily retrievable by drilling down through Infor or
by using a web browser. Invoice authorisation and document delivery will
also be automated, eliminating the need to post and fax invoices and
other documents between sites. In addition, LSUK will use Version One's
electronic form production system for all outbound documents,
eliminating pre-printed stationery.
Kemp adds, "Time spent manually processing invoices, filing and
retrieving documents and sending out copy documents will be freed-up,
enabling staff to get involved in more value-adding activities. As
authorised staff at the head office and all 55 branches will have
instant access to business documents, staff will be able to respond
quickly to queries. With faster invoice query resolution, we'll also be
able to collect cash quicker, dramatically improving cash flow."
www.versionone.co.uk
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