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 center located in central London - has implemented Version One’s document imaging system, DbArchive and automated payment system DbBACS-IP. Version One is V1 Document Management's UK sister company, selling the same award winning software. 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 checks.
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.”
We evaluated 17 document management suppliers and Version One was the only company we found that could seamlessly integrate its electronic archiving into Sage Line 50.
- Joe Ghandi, Somerset House
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.”
