Endsleigh Insurance Services has reduced invoice approval times and cut archiving costs with new document imaging technology.
The insurance firm has adopted Version One’s DbArchive document imaging technology, integrating it into its Microsoft Great Plains enterprise resource planning (ERP) system.
DbArchive allows purchase invoices to be scanned and the electronic documents automatically tagged to the appropriate record in the ERP system. The system allows the relevant staff to be notified automatically by email when new invoices are scanned, with a web link that allows them to access and approve or reject invoices on-screen.
Endsleigh’s financial accounting manager Mal Westfield, said: “Prior to implementing this technology we had 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.”
The insurance firm had experienced problems integrating software from different suppliers in the past and selected the Version One product because it worked seamlessly the Great Plains ERP system, he said.
The new technology has reduced the time taken to approve an invoice by five days, while easier access to purchase invoices helped managers to control expenditure, Westfield said.
“In addition, DbArchive has helped us to end our lease on a costly document archive facility saving us thousands,” he added. Archives were previously held off-site at a facility six miles from the Endsleigh offices.
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