During the last six months we have been busy with the continuous development of the business on all fronts. We have successfully applied for and been approved as a supplier to the Crown Commercial Services dept for the supply of Cloud based document management services on the Government G-Cloud contract.
Under this contract we will supply services for both the hosting of document management portals (as we already do for many of our existing customers) and for the delivery of hosted, software as a service solutions (SaaS). This will allow us to deliver hosted, cloud based, workflow, processes such as, accounts payable processes. The main benefit of using SaaS solutions is, it removes the need for investment by the client organisation in both the infrastructure and software required to deliver these services. They can in effect be delivered under a pay as you go model.
Prime Document will design, build and deliver the end to end service that ultimately can deliver accounts payable data directly into your ERP removing a lot of traditionally, manual process steps and replacing them with digital, reconciliation, approval and sign off processes.
It is estimated that it can cost as much £18 per AP invoice to process it through to payment. Studies by both Deutsche Bank and Ernst and Young estimate the savings could be as much as 80% if the process is automated via workflow. If you are processing 1000 invoices per month the savings could potentially be in excess of £170k pa. Even if it is only 25% of that figure it is surely worth looking at?
Take the first step in your digital journey, download our e-book for more insight on how an automated solution could improve your AP processes: