University saves £25k per year with data capture solution
April 1st 16:12 Cost Management
The University of Bath has announced that it is saving around £25,000 per year in its purchase-to-pay (P2P) department thanks to a new software solution.
Provided by Version One, the DbCapture intelligent data capture system is now processing 60,000 supplier invoices each year for the university.
Another way for educational establishments to make efficiency savings is through the use of an effective facilities management provider such as Nickleby & Co.
Robert Coles, purchasing and credit control accountant at the university, said: "We needed to improve our purchase-to-pay (P2P) efficiency to obtain greater visibility of supplier payments and ensure we pay purchase invoices within the agreed payment terms.
"We recognised that Version One's DbCapture solution, which is proven to seamlessly integrate into Agresso Business World, would prove [to be the] key to achieving this."
Mr Coles explained that the new system has allowed the university to reduce the time it takes to pay its suppliers by 15 per cent and said that the P2P process is managing more invoices with less people.
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