Engineers cut costs on document management
1 min read
Engineering projects firm On Line Design & Engineering says it expects to streamline its 'purchase-to-pay' processes and free-up document storage when it goes live with Version One's document management and imaging systems.
OLD&E finance director Steve Laird says the new systems will be made available to authorised users across four sites, cutting manual data entry by 85% and saving up to 50 staff days a year.
With some 2,500 documents handled each month between the company's 580 staff and two subsidiary businesses, document storage and retrieval has been a growing concern, he explains.
"We evaluated several document management suppliers but chose Version One due to the software's superior functionality and its proven ability to integrate into Sage 200."
The implementation, due to go live in July, will, he says, put an end to the paper-based approval of purchase invoices and enable paperless storage and retrieval of financial documents by drilling down through Sage 200.
Version One's OCR ) optical character recognition) technology will also automatically capture and verify purchase invoice data, reducing manual data entry and associated errors.
In addition, using Version One's authorisation module, invoice approvers will be automatically emailed a link, enabling them to approve, reject or query it on-screen This replaces manual and time-consuming approval processes involving posting and physically signing paper invoices.
"By eliminating time-consuming manual processes we anticipate that Version One's systems will save us up to 50 days of staff time each year and reduce manual data entry by 85%. This will transform staff productivity and make our P2P processes significantly faster," comments Laird.
