Greggs the Bakers is improving its purchase-to-pay systems with greater automation to manage invoices

Greggs is using a system jointly developed by UNIT4 Business Software and Intelligent Capture. The Invoice4 system allows all invoices to be sent electronically into Greggs’ existing UNIT4 Coda Financials system.

Greggs already benefited from an automated accounts payable system within its shared service centre, but by introducing Invoice4 the organisation will drive further accounts payable and purchase-to-pay efficiency, it said.

Invoice4 has been designed to drive up invoice matching rates while providing effective "invoice exception management" to optimise the purchase-to-pay process.

Paper purchase invoices continue to be scanned by Greggs with the images being sent to the Invoice4 managed service. The relevant invoice data is "intelligently" extracted, cleansed for accuracy and then posted to Coda Financials without any intervention by the Greggs team.

Another key benefit is that invoice exceptions, such as suppliers not quoting purchase order numbers on the invoices, are highlighted at the earliest opportunity and handled in a dedicated, web-based exception handling process by Greggs.

“Invoice4 ensures we no longer manually enter invoices into our Coda Financials solution, and dedicated exception handling and reporting is absolutely key to our shared service centre driving out invoice exceptions,” said Lee Massingham, supply chain financial controller at Greggs.

“We see the solution as pivotal to us achieving higher invoice match rates and greater purchase-to-pay efficiency,” said Massingham.

Earlier this year UK-based Ferring Pharmaceuticals went to electronic document management supplier Version One to improve purchase-to-pay efficiency, reduce manual data entry and cut off-site storage costs.

Version One’s technology was tightly integrated with Ferring’s Microsoft Dynamics NAV accounting system, and is expected to deliver cost savings in excess of £40,000 a year.