Endsleigh looks to scrap manual invoice processes

Insurer migrates to electronic purchase invoice system

Insurer will save money and create efficiencies by implementing paperless purchase invoice system

Insurance firm Endsleigh is considering adding optical character recognition (OCR) to its document imaging and management system to increase invoice processing speeds.

The firm has deployed Version One’s DbArchive system to scan, tag and file purchase invoices for electronic payment authorisation, and has reduced invoice approval times by five days.

The insurer now wants to eliminate the manual process of inputting handwritten invoice data.

Endsleigh financial accounting manager Mal Westfield says the firm will introduce OCR technology if it is cost-effective.

‘Automating the data entry of purchase invoice information is the next logical step to the imaging and archiving system,’ said Westfield.

Before Endsleigh installed the DbArchive system, purchase-to-payment processes were conducted manually and paper invoices stored in an off-site location.

‘Other cost savings have resulted from ending our lease on our document archiving facility saving thousands of pounds, not to mention the time taken by our staff to make the 12-mile round trip,’ said Westfield.