Endsleigh Insurance Services, a UK insurance intermediary, has streamlined its purchase-to-pay processes with new document imaging technology.
Version One’s DbArchive has been integrated into Endsleigh’s Microsoft Great Plains enterprise resource planning (ERP) system to reduce invoice approval times by five days, while also cutting document archiving costs.
With DbArchive, purchase invoices are scanned in, imaged and then automatically tagged to the appropriate record in the ERP system. The original paper invoices are then destroyed. In addition, all purchase invoices are now approved electronically; once an invoice has been scanned-in, the relevant approvers are automatically emailed with a web link to the invoice. They can then access it on-screen and either approve or reject it with just a click of the mouse.
Mal Westfield, Endsleigh Insurance Services financial accounting manager said: “In the past, we’d experienced problems trying to get software from different suppliers working together and so didn’t want to take any risks. DbArchive has revolutionised our purchase-to-pay cycle. Prior to implementing this technology we’d inefficient manual processes in place. Getting an invoice authorised involved posting a paper copy of the invoice with a reference slip to the relevant approvers to sign and post back. Not only was this time-consuming, it also made it difficult to keep track of where invoices were at any point in time. On top of this, it was all too common for invoices to get delayed or even lost in the post.”
Authorised users across the Endsleigh branches can now securely access purchase invoices by drilling down through the Great Plains system or via Endsleigh’s intranet. So instead of trawling through storerooms full of documents and having to travel to Endsleigh’s archive facility to locate a copy invoice, imaged invoices can be searched, located and displayed more quickly.
Westfield said: “As well as eliminating lost and misfiled invoices, the technology has reduced the time it takes to approve an invoice by five days, helping to avoid late payment charges. The quick and easy access to purchase invoices is also allowing managers to more effectively control expenditure. It has also helped us to end our lease on a costly document archive facility in the centre of Cheltenham, saving us thousands.”