University of Bath Saves £25K and Speeds-up Processing of 60,000 Invoices per Year with Version One Integrated into UNIT4
The University of Bath, one of the UKâ??s leading universities, has saved £25,000 per year and is improving invoice processing efficiency as a result of implementing an intelligent data capture solution from Version One (www.versionone.co.uk). Version Oneâ??s DbCapture system, which is tightly inte
UK (March 31, 2010) –
The University of Bath, one of the UK’s leading universities, has saved £25,000 per year and is improving invoice processing efficiency as a result of implementing an intelligent data capture solution from Version One (www.versionone.co.uk). Version One’s DbCapture system, which is tightly integrated into its Agresso Business World enterprise resource planning (ERP) system from UNIT4 (www.unit4software.co.uk), is being used to process 60,000 supplier invoices each year.
The University of Bath now benefits from less labour-intensive purchase-to-pay (P2P) processes, central oversight of invoice processing workflows and strengthened relationships with its suppliers.
Robert Coles, Purchasing and Credit Control Accountant at the University of Bath, explains, “We needed to improve our purchase-to-pay efficiency to obtain greater visibility of supplier payments and ensure we pay purchase invoices within the agreed payment terms. We recognised that Version One’s DbCapture solution, which is proven to seamlessly integrate into Agresso Business World, would prove key to achieving this.”
Version One’s DbCapture automatically captures data from the imaged purchase invoices using advanced optical character recognition (OCR) technology. Any data discrepancies are automatically highlighted for the attention of the user. This data is then uploaded to Agresso Business World, significantly reducing manual data entry and cutting data entry errors whilst improving processing efficiency.
Coles comments, “DbCapture has eliminated duplication of effort and cut manual data entry, shortening invoice processing times. This has freed-up staff in the AP team and provided us with cost savings of approximately £25,000 each year.”
Coles adds, “By streamlining our P2P processes and changing the working practices in the AP team, we are managing increasing transaction numbers with less people. We are also reducing the number of days it takes us to pay a supplier by 15%, improving our payment performance whilst strengthening relationships with our suppliers.”
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Notes to editors
ABOUT University of Bath www.bath.ac.uk
The University of Bath ranks highly in the league tables of UK universities published by a number of national newspapers, including the Times, Independent and Guardian. Its research is internationally respected, and its students are in demand by employers because of the high quality of the teaching provided. The University of Bath has had close connections with industry and the public and voluntary sectors since its inception in 1966. It has also developed strong links with universities abroad.
The University of Bath’s buildings are set in an attractive campus about a mile from the centre of Bath, a World Heritage City. It is a safe and friendly campus with strong student services and good social opportunities. Its sports facilities are first-class.
ABOUT UNIT4
UNIT4 is a global business software and services company aimed at helping dynamic organizations to embrace change simply, quickly and cost effectively in a market sector it calls ‘Businesses Living IN Change’ (BLINC)(TM). The Group incorporates a number of the world’s leading change embracing software brands including Agresso Business World and CODA financial management software.
For mid-sized services intensive organizations, UNIT4 markets the Agresso Business World ERP suite that is widely acknowledged as the business software solution that delivers the lowest Total Cost of Change. This is achieved thanks to its VITA(TM) architecture which allows for ongoing, post-implementation changes without the typical external IT costs and services that cost firms huge sums of money each year.
CODA Financials is our award-winning suite of best-of-class financial management software designed to integrate with your industry- and company-specific applications. CODA’s LINK(TM) architecture sets it apart from ordinary accounting systems by providing a financial information backbone for companies with fast-changing and mixed application environments. It is a global accounting solution for mid-to large sized organizations, offering a “no compromise” approach to financial modeling, process control and application choice.
In the UK we focus strongly on the public sector where we are a leading provider to Local Government, Further and Higher Education and Health organisations. In the commercial sectors Financial Services, Retail and Media and Publishing are key markets. Overall we aim to be the UK’s foremost business software company, providing solutions that transform the delivery of public services and comprehensively support commercial organisation in their ability to adapt and prosper in rapidly changing environments.
UNIT4 is a top six mid-market ERP software player globally and the 2nd largest European ERP supplier. With offices in 13 European countries, as well 6 countries across North America, Asia Pacific and Africa and sales activities in several other countries, a revenue of EUR379.4 million was realized in 2009. UNIT4 is headquartered in Sliedrecht, the Netherlands. The company has 3,456 employees (31 December 2009).
For more information, please visit: www.unit4software.co.uk
ABOUT Version One www.versionone.co.uk
Version One Ltd is the author of electronic document management and imaging solutions. These solutions enable the electronic storage, retrieval, management, enhancement and delivery of business documents such as invoices, purchase orders and statements. This ‘paperless office’ technology is seamlessly integrated into all major ERP and accounting systems and with a typical ROI of less than six months, Version One’s solutions are enabling thousands of organisations to cut paper consumption whilst saving dramatic amounts of time and money.
Version One is an Advanced Computer Software Plc group company.
For more information contact
Chris Quinn
Interim UK PR Manager
UNIT4
+44 (0) 796 101 7007
chris.quinn@unit4.com
Source: UNIT4