Somerset House Improves Integrated Accounting And Reporting With Version One's Document Imaging Solution
Somerset House Trust, which conserves and develops Somerset House - an 18th Century palace and thriving cultural centre located in central London - has implemented Version One's document imaging system, DbArchive and automated payment system DbBACS-IP. These systems are providing the Trust with greater spending transparency together with improved invoice management and retrieval.
Integrated into Somerset House's Sage Line 50 accounting system, Version One's systems are being used to electronically store thousands of invoices and related documents each year and pay suppliers electronically.
Somerset House identified the need for a reliable and fully-integrated document management system that could provide quick and easy access to documents relating to the costs of running the estate as well as its growing number of cultural events and activities. It also wanted to improve invoice management and retrieval and have a secure and efficient electronic payment method for paying suppliers more swiftly without risk of fraud and lost cheques.
Joe Ghandhi, Director of Finance for Somerset House, says, "It's important that we have a clear, accurate and readily accessible record of what we spend. Until now, we have had to trawl through filing cabinets to locate invoices which we then had to photocopy. This has proven both inefficient and costly."
Ghandhi continues, "We evaluated 17 document management suppliers and Version One was the only company we found that could seamlessly integrate its electronic archiving and payment solution into Sage Line 50, providing us with a one-stop solution for our document management needs."
With DbArchive, all incoming invoices and related documents are imaged using a Kodak scanner and automatically linked to the appropriate record in Sage Line 50. These documents can then be retrieved and viewed within seconds by drilling down through Sage and eventually via Somerset House's Intranet system.
Ghandhi comments, "With DbArchive tightly linking into our Sage Line 50 accounting system we are provided with a permanent record of all our outgoings and with DbBACS-IP communicating with Sage, this eliminates duplication in the processing of payments."
Ghandhi adds, "Version One's solutions are now an integral part of our accounting system and will provide us with efficiency savings as we no longer have to print, photocopy, post and manually file our financial documents. These efficiency savings will be especially important over the next nine months as we increase the number of events on our site as well as number of tenants."
About Somerset House
Somerset House, an 18th Century palace, is a thriving cultural centre in the heart of London. Its exciting year-round programme of events for visitors of all ages include talks, workshops and concerts with top performers such as Hot Chip and Amy Winehouse, and an Ice Rink during the winter. It is also home to the magnificent collection of the Courtauld Institute of Art. The South Building also boasts a superb restaurant and a summer café on the River Terrace offering spectacular views across the Thames. Somerset House is a non profit making Charity.
About Version One
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.
SOURCE: Version One