Top performing hospital selects Version One’s document management to help meet ten day SME payment target Tuesday 20 September 2011 PDF Print 20 September 2011 – West Suffolk Hospital NHS Trust, recently named the top performing hospital in England for the quality of care it delivers to its patients, is implementing electronic document imaging and data capture software from Version One. Version One’s software will speed-up the processing of 45,000 purchase invoices each year and help the Trust to more easily meet its ten day small to medium sized enterprise (SME) supplier payment target. Version One’s systems are expected to go-live to approximately 70 users in the autumn of 2011. By using Version One’s software tightly integrated into its Infor Smartstream accounting system, West Suffolk Hospital will significantly reduce the time-consuming manual entry of purchase invoice data and will also be able to electronically store and retrieve purchase invoices directly from its Smartstream system. David Swales, assistant director of finance from West Suffolk Hospital NHS Trust, says, “We sought a reliable and progressive document management solution to streamline our accounts payable processes and help us to meet our supplier payment targets. We chose Version One’s solutions because they came highly recommended from our accounting system provider, Infor, and are proven to tightly integrate into Smartstream which was a key requirement.” All purchase invoices arriving into West Suffolk Hospital will be scanned centrally, tagged to the appropriate record in the Infor Smartstream accounting system and electronically stored. At the same time, Version One’s data capture system, which uses optical character recognition (OCR) technology, will automatically capture data from purchase invoices, reducing manual data entry by up to 80%. In addition, with Smartstream’s workflow module used in conjunction with Version One’s DbArchive imaging system, authorised users will be able to view and approve invoices directly from their PCs, further enhancing purchase-to-pay efficiency. Swales comments, “Version One’s systems will reduce invoice approval delays, helping to improve our supplier payment performance. We will also benefit from improved financial control by reducing the risk of duplicate payments and data entry errors, which are typically associated with manually intensive processes.” Swales adds, “To maintain our status as a top performing hospital in England, it is important that we continue to invest in leading-edge technology that improves both efficiency and our service offering. By removing the need to photocopy, post and physically store 45,000 invoices onsite, Version One’s technology will free-up vital storage space and cut administration costs, allowing us to better utilise hospital resources for patient care.” -ENDS- Notes to Editors About West Suffolk NHS Trust www.wsh.nhs.uk The West Suffolk Hospital NHS Trust came into being on April 1, 1993. It serves an area of approximately 600 square miles which extends to Thetford in the north, Sudbury in the south, Newmarket to the west and Stowmarket to the east. This encompasses a population of approximately 275,000. The West Suffolk Hospital has around 480 beds open at any one time. In May 2011, West Suffolk Hospital was named the country’s ‘top hospital’ by independent healthcare intelligence company CHKS in May 2011. 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. Version One is an Advanced Computer Software Group plc company. Contact: Liz Ebbrell, Version One email@example.com +44 (0)1625 856505 This press release was distributed by ResponseSource Press Release Wire on behalf of V1 Ltd in the following categories: Health, Business & Finance, Computing & Telecoms, for more information visit https://pressreleasewire.responsesource.com/about.