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Using our wealth of expertise in software development and business processes, we work with organisations in the public and private sectors to remove the challenges posed by paper-based working.
By using our automated document management and imaging solutions, organisations are assured of greater control, visibility and compliance.
For teams dealing with supplier invoices, daily issues come in the form of:
- Time-consuming data entry
- Misplaced documents
- Delayed invoice authorisation
- Inefficient filing systems
- Expensive and non-secure document storage
V1 can work with you to develop a solution to meet your specific business requirements. In doing so we will streamline processes, improve access to information, reduce costs, enhance productivity and aid both compliance and corporate governance.
As an author of document management solutions since 1989, V1 works with global partners who work closely with you to automate your processes, eradicating issues such as:
- Late payment penalties caused by inefficient invoice processes
- Multiple payments of the same invoice
- Missing documents
- Keying errors
- Time spent chasing authorisers
- Missing early settlement opportunities
Making a tangible difference
to your business process
Our solutions focus on the following core areas
Putting it into perspective
Analysts from Gartner report that typical invoice processing costs in the UK are between £4 and £25 per invoice, but in some cases are as high as £50.
Our data capture solution reduces the time taken to key invoice data by up to 80%. Our document archiving solution reduces filing and retrieval time by up to 95%. Our authorisation solution removes the need to send physical documents allowing a saving of approximately 60% per invoice.
Electronic Invoice Authorization – Providing the foundation for an efficient accounts payable department