Cornwall College, the third largest further and higher education college in the UK, is implementing document management and imaging software to significantly improve invoice processing efficiency and free-up document storage space. This software from Version One (www.versionone.co.uk), which will be tightly integrated into Cornwall College’s Distinction QL accounting system, will enable the electronic storage of 200,000 documents each year including invoices, statements, academic certificates and personnel records. The college will also be able to electronically authorise its purchase invoices and automatically capture and verify the data from these invoices, reducing manual data entry.
Cornwall College is rolling-out Version One’s solutions to ten sites across Cornwall, Devon and Worcestershire. Mike Trebilcock, Head of Information Services at Cornwall College says, “Inefficient paper-based processes have been hindering our business efficiency and impacting our bottom line. In addition, rooms which could be used for teaching or office space are instead being used to store thousands of paper documents which is a waste of space.”
Trebilcock continues, “We’ll be able to eliminate paper-based invoice approvals. Obtaining approvals for 60,000 purchase invoices each year is currently a long and arduous process. With Version One’s technology, invoice approvers will be able to view scanned invoices directly from their PCs and accept, reject or query them within seconds. This will free-up time, allowing staff to carry-out more productive tasks. Version One’s software will also significantly reduce manual data entry, saving considerable amounts of time whilst eliminating data entry errors and reducing administration costs.”
With Version One’s technology in place, the finance team will know exactly where invoices are in the approval chain. Using a scanner and Version One’s software, all invoices arriving into Cornwall 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 Distinction QL). As the electronic archive eliminates the need to photocopy invoices, this further enhances efficiency and cuts costs.
Version One’s software will also play a vital role in helping Cornwall College to store and circulate over 100,000 non-financial documents. These include academic certificates of achievement and personnel records such as passports, driving licences and medical questionnaires.
Trebilcock added, “As a number of departments need a copy of each student’s certificate of achievement, this currently involves photocopying each certificate several times and then posting the copies to multiple sites around the college. This is a nightmare, especially as some students obtain up to ten certificates! Version One’s software will streamline this process and make it virtually impossible to lose these vital documents. We will also be able to work much smarter and far more efficiently.”
About Cornwall College www.cornwall.ac.uk
Established in 1929 to meet the training needs of local industry, Cornwall College has now grown to be the largest further and higher education college in the UK with an average of 45,000 students. In August 2001 Cornwall College merged with St. Austell College, creating cross county coverage focusing on all vocational subjects making the college a major player on the national scene. Cornwall College is a key player in the devolved structure for the University for Cornwall (CUC - Combined Universities in Cornwall) and has over 2,500 students studying at university level. As part of the CUC initiative Cornwall College manages Unlocking Cornish Potential, a programme which places graduates with Cornish businesses to undertake business development projects.
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, delivery and authorisation 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.
Liz Ebbrell, Version One
+44 (0)1625 856505 or 07917 634 705
Ben Carey, Version One
+44 (0)1625 856505
This press release was distributed by ResponseSource Press Release Wire on behalf of V1 Ltd in the following categories: Business & Finance, Computing & Telecoms, for more information visit https://pressreleasewire.responsesource.com/about.