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Trapeze Group (UK) Ltd selects V1's document management to support ambitious growth plans
Trapeze Group (UK) Ltd (hereafter, Trapeze, www.trapezegroup.com), the UK division of a leading global technology provider to the transport sector, is implementing a portfolio of V1's document management and imaging solutions, initially in its UK operations, to help it support its growth aspirations.
Scheduled to go-live later this year, V1's solutions will be tightly integrated into the Trapeze's Microsoft Dynamics GP financial management system and will be used to electronically archive over six years' worth of purchase orders and invoices. Currently, all of the Trapeze's accounts payable (AP) documents are stored both onsite and at a costly off-site facility.
V1's solutions will significantly streamline the accounts payable (AP) process, replacing paper-based AP with automated, paper-free processes that will eliminate the production of over 12,000 paper documents each year.
James Grieve, Project Manager for Trapeze, says, "V1's solutions will enable us to process, securely store and instantly retrieve the 12,000 accounts payable documents we process each year. By freeing-up time-consuming administration including reducing manual data entry of invoice information by 90 per cent, this will allow the finance team to more effectively support the business as it continues to grow."
V1's optical character recognition (OCR) technology will automatically capture and verify purchase invoice data before being uploaded to the Microsoft Dynamics GP finance system, dramatically reducing manual data entry and associated errors. In addition, instead of the paper-based approval of invoices, using V1's authorisation solution, Trapeze's approvers will be automatically emailed links to imaged invoices, enabling them to approve, reject or query them on-screen directly from their PCs.
Grieve comments, "By electronically authorising the hundreds of invoices we currently manually process each month we will be able to significantly tighten-up our approval processes, giving us greater control over supplier payments."
Moving forward, Trapeze‘s UK implementation could become a reference site for other Trapeze operations, including locations in UK and mainland Europe, and for the storage and circulation of a range of non-financial documents.
Published - 4th October, 2012 | Contact PR - pr@WeAreV1.com or call 01625 856 505
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"Version One's solutions will enable us to process, securely store and instantly retrieve the 12,000 accounts payable documents we process each year. By freeing-up time-consuming administration including reducing manual data entry of invoice information by 90 per cent, this will allow the finance team to more effectively support the business as it continues to grow."
James Grieve, Project Manager, Trapeze