Product category:
Printing Pre-Press Systems and Materials (Repro, Platemakers, CTP, Workflow, Document Management, Design Software, etc.)
News Release from: Version One Limited | Subject: Automated purchase-to-pay (P2P) technology
Edited by the Printingtalk Editorial
Team on 19 February 2007
Automated Purchase System Goes On Show
Document management and imaging software author, Version One , is putting the spotlight on automated purchase-to-pay (P2P) technology on stand 25 at Softworld Accounting and Finance 2007.
Document management and imaging software author, Version One , is putting the spotlight on automated purchase-to-pay (P2P) technology on stand 25 at Softworld Accounting and Finance 2007 The show, being staged from March 6-7 at the Novotel London West (UK) will be when Version One will demonstrate how its P2P technology cuts costs and consolidate its finance functions in to a single shared services centre
This article was originally published on Printingtalk on 29 Jan 2007 at 8.00am (UK)
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According to Version One, manual P2P processes are tedious, time-consuming and prone to error.
The company's document management and imaging software automates these processes, from creating and raising the purchase order through to paying the purchase invoice, making time and cost savings whilst improving both efficiency and cash flow.
Version One's technology enables purchase orders to be electronically created, authorised, delivered and automatically archived.
When purchase invoices arrive in the organisation, digital images of the orders are automatically stored in the central archive (and automatically linked to all related business documents).
Using OCR technology, the invoice data is automatically captured and verified before being uploaded in to the central accounting system and the imaged invoices are emailed to all relevant approvers for payment authorisation.
Payment is subsequently made with Version One's BACS-IP software, or secure cheque-printing system with the remittances being instantly delivered by automated fax or email.
Tony Bray, a director of Version One, said: "By automating their P2P processes, businesses can enjoy a multitude of benefits including data entry costs reduced by over 50 per cent, the elimination of lost and misfiled documents and dramatically improved cash flow.
Furthermore, document storage space can be freed-up, pre-printed stationery can be eliminated and data entry staff can be redeployed to more productive roles.".
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