Estate Agency's integrates Version One document management with Sun Accounts
5th December 2005
Sequence (UK) Ltd, the estate agency with annual turnover of around £100 million and with 316 branches has streamlined its processes by implementing Version One's document management software seamlessly integrated into its Sun Accounts accounting software. The company will operate a powerful, central electronic archive, which means that crucial business documents will be instantly accessible from the desktop for all authorised personnel throughout the organisation.
The Sequence businesses operate locally and autonomously under 11 different trading names, and with some 13,000 suppliers, the timely authorising and approving of over 60,000 purchase invoices each year was proving to be a serious issue for the company.
Financial Controller for Sequence UK, Matt Larkin, says, "Purchase invoices arrive by post into each of our 320 branches, which then require signatures from up to three levels of regional management. This means that our authorisation processes typically take at least two weeks. Such delays mean we are often unable to take full advantage of financial benefits such as prompt payment discounts, and we sometimes incur penalties from our suppliers for late payments."
"Now, using the Version One software, our Branch Managers have the power to view the progress of invoices at any time and from any geographical location, since documents are now available instantly from the electronic archive. The automatic electronic routing process means that reviewing each invoice will be simple and quick, and will be achieved at the click of a mouse. As a result of using the new software, we will dramatically reduce our authorisation processes down to only two days. Everyone involved is delighted and highly motivated by this."
He continued, "Version One's document management software will be an enormously powerful business tool, allowing us to simplify our accounting processes, reduce costs, improve efficiencies and add real strength to our business. For the future, we see huge potential for expanding the use of this software further throughout the business, which will undoubtedly result in many more tangible business benefits."
