Irwell Valley Housing Association - Invoice Capture Success Story
Irwell Valley Housing grew rapidly through stock transfer from local authorities, and are focused on the refurbishment and functional improvement of these homes for their 16,000 customers.
Irwell Valley Housing Association manages over 7,000 properties from their three offices in the Greater Manchester Area. They have grown rapidly through stock transfer from local authorities, and are focused on the refurbishment and functional improvement of these homes for their 16,000 customers.
IVHA needed an OCR scanning solution that could fulfil the requirements of several departments. Their initial focus was to enable the Finance Department to sort and progress some 30,000 invoices through their purchase-to-pay system. Following this, other departments would use the solution to process new application forms, housing benefit letters, court documents and other miscellaneous items.
A scanner was assigned to be connected to two Kofax-enabled workstations and used by individuals who would be responsible for operating the daily scanning workload.
IVHA's eProcurement and P2P solution was enhanced with a new invoice import feature to exchange data with Kofax regularly as part of the automation process. Order numbers are matched to incoming invoices and the appropriate budget holder is notified. The system learns from flagged exceptions to continue and improve accuracy of the transaction processing.
The daily arrival of invoices to the Finance Department now takes about 1 hour for a member of staff to validate, compared with around 3-4 hours prior to the deployment of the improved solution. 30% of invoices go straight through without requiring validation from staff, with the remainder taking about a minute each to tap through and validate.
The staff time freed up from keying in repetitive invoices is diverted to other worthy business functions. The risk off processing errors is considerably reduced, and the solution can be deployed to any department IVHA chooses, when subsequent phases are implemented.
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Automated Invoice Processing
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