Endsleigh Insurance Services, one of the UK's largest insurance intermediaries, has dramatically streamlined its purchase-to-pay processes with Version One's DbArchive. This document imaging technology, which is tightly integrated into Endsleigh's Microsoft Great Plains ERP system, has reduced invoice approval times by a remarkable five days, whilst dramatically 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.
Commenting on the selection of Version One's DbArchive, Mal Westfield, Financial Accounting Manager from Endsleigh Insurance Services, says, "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. As Version One's DbArchive is proven to work seamlessly with our Great Plains ERP system, it was the obvious choice!"
"DbArchive has revolutionised our purchase-to-pay cycle", continues Westfield. "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 called-up on screen within seconds!
Westfield says, "As well as eliminating lost and misfiled invoices, Version One's 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."
"In addition, DbArchive has helped us to end our lease on a costly document archive facility in the centre of Cheltenham, saving us thousands. Before DbArchive, historic paper invoices were stored at this off-site location six miles away. Now, accessing invoices is quick and easy, and by eliminating the twelve mile roundtrip to and from the Cheltenham archive, staff time is better utilised and we're cutting our CO2 emissions too!"
About Endsleigh Insurance Services
Endsleigh (endsleigh.co.uk) is an independent intermediary specialising in the provision of insurance and financial products for career people.
Originally founded in 1965 to serve students, Endsleigh has since expanded its client base into the graduate and professional marketplace. The company is also the preferred insurance supplier for a variety of affinity partners, offering a wide range of services including motor, home, student and travel insurance.
Endsleigh also offers business insurance through Endsleigh Business Insurance Services and financial advice through Endsleigh Financial Independent Tailoring.
About Version One
Version One Ltd (versionone.co.uk) is the author of electronic document management and imaging software. These solutions enable the automated 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 save dramatic amounts of time and money.
Stuart Wartalski, Head of Corporate Communications
Endsleigh insurance Services
T: 01242 866192 / M: 07713 506 897