Hull College to Automate Authorisation of 30,000 Invoices Each Year with Version One’s Technology Tuesday 19 February 2008 PDF Print Hull College – one of the largest colleges in the UK – is automating its purchase invoice approval processes with Poynton-based Version One’s document management and imaging technology (www.versionone.co.uk). With Version One’s software tightly integrated into Hull College’s accounting system, invoice approvers will be automatically notified when there’s a purchase invoice for their authorisation. They will then be able to view the scanned invoice via an Internet browser directly from their PC and accept, reject or query it within seconds. In time, Hull College will roll-out Version One’s technology to other areas of the finance department and will also look to incorporate it for electronically storing and circulating non-finance documents, including personnel and student records. Richard Hudson, Hull College Procurement Manager says, “Currently, our purchase invoice approval processes are far too time consuming and paper-dependent. Up to 30,000 purchase invoices are posted around the college for approval every year. With hundreds of authorisers based at ten college locations and with many also working from home, the approval process is very complex.” Hudson continues, “By its very nature, paper-based invoice approval is prone to lost and mislaid documents. Not knowing exactly where an invoice is and what, if anything is being done with it, makes managing supplier payments more time consuming and costly.” By automating invoice approval it will become virtually impossible to ‘lose’ invoices and the finance team will know exactly where invoices are in the approval chain. Using a Kodak scanner and Version One’s software, all invoices arriving into Hull College will be scanned centrally and then instantly stored in the Version One archive (accessible via Version One’s web browser or by drilling down through Hull’s accounting system). Hull also wants to make the practices and processes it uses as sustainable as possible. The electronic archive minimises any requirements to photocopy invoices. This provides a win/win in reducing both its carbon footprint and costs. The authorisation software will automatically notify the relevant approvers that there is an invoice requiring their attention. Once an authoriser has approved, rejected or queried the invoice, depending upon the rules built-into the system, it will either be forwarded to the next approver in the chain or returned to the finance department where it will be paid or disputed. Hudson says, “Version One’s software will dramatically streamline purchase invoice approval and ultimately cut costs. It will also provide us with far greater control over how and when we pay suppliers.” Hudson added, “By electronically storing all our purchase invoices, we will also be able to free-up storage space and quickly and easily access invoices from the desktop, helping to resolve queries in a timelier manner. When we roll-out the software to other parts of the finance department and to other areas of the business, we look forward to even greater efficiency improvements and increased time and cost savings.” -Ends- Notes to Editor: IMAGE AVAILABLE UPON REQUEST About Hull College www.hull-college.ac.uk Hull College is one of the largest Colleges in the UK, training approximately 25,000 part-time and over 5,000 full-time learners in 2006/2007. The College offers over 1000 courses from Foundation Level to BA Hons Degrees. The College has an impressive record and is nationally recognised for its quality delivery. It holds CoVE (Centre of Vocational Excellence) status in Construction, Ports and Logistics, Food Technologies and Automotive Training, and National Beacon awards for Employment Engagement and Lifelong Learning (Family Learning). Hull College is proud to be a member of the 157 Group, a new representative body made up of some of the biggest and most influential colleges in the country. Hull College’s facilities are internationally recognised and amongst the very best in the country. The College has a number of city centre sites in Hull and a sister site, Goole College situated 30 miles away. 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. Contact: Liz Ebbrell, Version One Email: Liz.firstname.lastname@example.org Tel: +44 (0)1625 856505 or 07917 634 705 This press release was distributed by ResponseSource Press Release Wire on behalf of V1 Ltd in the following categories: Business & Finance, Education & Human Resources, Computing & Telecoms, for more information visit http://pressreleasewire.responsesource.com/about.