Cranfield University, the only educational institution wholly for postgraduate students in the United Kingdom, is implementing intelligent document capture software from Version One (www.versionone.co.uk). This will speed-up the processing of 80,000 purchase invoices each year and reduce manual data entry by up to 75%. Version One’s DbCapture system is expected to go live in March 2009.
The implementation of DbCapture, which will coincide with Cranfield’s upgrade to Agresso Business World 553, will automatically capture and verify data from purchase invoices using advanced optical character recognition (OCR) technology. Any discrepancies will be automatically highlighted for the attention of the user. This data will then be uploaded to Agresso Business World, significantly reducing manual data entry, cutting data entry errors and improving purchase invoice processing efficiency.
Ian Sibbald, Financial Controller from Cranfield University says, “We currently have seven staff manually keying-in all data from 80,000 purchase invoices each year which is incredibly time-consuming and prone to error. After reviewing our business practices we decided to seek a document capture solution that would reduce manual data entry and enable the better utilisation of our staff in order to maximise efficiency.”
Sibbald continues, “We selected Version One’s system because it offered us a flexible and user-friendly solution. Version One’s proven ability to seamlessly integrate into Agresso Business World was also critical as we required a fully-integrated purchase invoice processing solution.”
Sibbald adds, “DbCapture will bring us significant time and efficiency savings by reducing manual data entry by up to 75%. We anticipate that this will save one-and-a-half person’s time which will allow us to redeploy this resource to add significant value to the finance function.”
About Cranfield University www.cranfield.ac.uk
Cranfield University’s mission to transform knowledge into ingenious solutions in science, technology and management places it at the forefront of some of the world’s most practical, cutting-edge projects. Cranfield University has a global reputation for inspirational teaching and research, industrial-scale facilities and superior links with industry and commerce.
And as a wholly postgraduate institution, Cranfield University is the first choice for ambitious and skilled individuals wishing to enrol on Masters, Doctorate and professional development programmes.
Cranfield University’s passion for the areas of expertise it operates in - aerospace, automotive and motorsport, defence, engineering, health, management, manufacturing, environment and water – makes it uniquely placed for both students and corporate partners alike.
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.
Agresso is a mid-market enterprise resource planning (ERP) company and one of the top five providers of ERP solutions for professional services and public sector organisations. Agresso offers a uniquely integrated data/process/delivery architecture designed specifically for Businesses Living IN Change (BLINC) ™. Agresso is known as "The ERP Market's Definition of Agility" as it allows an unlimited amount of ongoing, post-implementation changes without the typical external IT costs and intervention that nets billions of dollars in revenue to the market leaders.
For more information, please visit: www.agresso.com, or call:
Liz Ebbrell, Version One
+44 (0)1625 856505 or 07917 634 705
Ben Carey, Version One
+44 (0)1625 856505
Emma Hoyle, Agresso
+44 (0)1423 537977
This press release was distributed by ResponseSource Press Release Wire on behalf of V1 Ltd in the following categories: Business & Finance, Education & Human Resources, for more information visit https://pressreleasewire.responsesource.com/about.