BLISWORTH, England, April 30, 2012 /PRNewswire/ --
- Digitisation of over 40,000 invoices improves service levels for Housing Association through the elimination of need for manual processes and increased transparency -
Adactus Housing Group has implemented Invu Document Management for housing Software to automate supplier management for the processing of over 700 suppliers' accounts payable transactions. Invu now forms a key part of the finance process with automated workflows and electronic invoicing bringing quick approvals and resolution.
Formed in 2002, Adactus Housing Group brings together a number of local operations under the AHG parent. Adactus Housing owns and manages over 13,000 homes across 25 local authority areas in the North West of England, compromising six independent companies.
Adactus' decision to implement the Invu document management for housing software came after a six month marketplace review and the benchmarking of Invu against five competitors. Invu demonstrated a strong track record within the market and the ability to integrate with existing systems was essential.
A staged roll out approach was adopted, as the most complex implementation the Finance department was first to adopt, with Tenancy, development and Health & Safety to follow. With 24 suppliers representing 50% of the transactions, rationalising the supplier management process was essential to improving efficiency.
Streamlining the accounts payable process was critical as was implementing a process which would entail minimum manual intervention with improved supplier management. Between 40,000 and 60,000 paper invoices are received a year from over 700 suppliers. This leads to a slow and labour-intensive process, which is prone to data entry error. With a crucial need for invoice accessibility throughout the multiple locations the process has become protracted with poor control. The result was a lengthy retrieval process and invoice misplacement which led to an extended supplier payment times.
Kimberley Clark, Operations Director at Adactus comments "The Invu solution has made a real difference to our supplier management process. It has given us complete transparency and enhanced control - we have far greater awareness of all invoices and commitments. My experience within finance departments within the sector means that I know that other Housing Associations would greatly benefit from what we have implemented. It simplifies the process, speeds it up and provides much better control and management information."
The introduction of Invu Document Management for housing has resulted in greater financial, supplier management and quality control. On average c.200 invoices are received every day. Adactus Finance now has a clear and immediate view of all supplier transactions, which are fully audited and offer a much improved level of transparency and clarity. Finance can also see where there are delays with the automatic escalation process; in conjunction with wider accessibility to tenant and supplier information has allowed for immediate response leading to enhanced service levels.
Kimberley Clark concludes, "The Invu solution has made a real difference to the finance department and its supplier management process. It gives us complete transparency and enhanced control - we have far greater awareness. It simplifies the accounts payable process, speeds it up and provides much better control and management information. We felt that Invu would meet our deadlines, work closely with us and our suppliers and meet our needs. Now it feels like a genuine partnership."
Invu develops software that incorporates document management, content management, workflow, automation and collaboration specialising in solutions for the mid-market and smaller businesses.
Also known as the paperless office, Invu typically gives a return on investment in under six months, allowing companies to see efficiency savings in terms of both money and time.
Over 4,500 organisations use Invu. From professional services (such as accountants, IFAs and insurers) to education; from housing associations to manufacturing and engineering; from transport & logistics to construction and charities.
Invu's Open Search integration allows SharePoint users to utilise fully the benefits of WSS/SharePoint Foundation or MOSS/SharePoint Server whilst retaining the functions of specialist document and content management.
Invu's solutions enable automated scan, capture and management, processing and output transformation.
Invu also integrates with all major accounting systems including IRIS and Sage, as well as ERP and CRM systems.
To find out how Invu can benefit businesses, please contact +44(0)1604-859893
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