Imagination
August 2007 - Issue 01
NEWSBYTE
We are proud to have secured a contract from the Learning and Skills Council (LSC), the body responsible for funding post-16 education and training in England. The contract, which was won in competitive tender, is based upon delivering our Procura automated invoice processing solution.
Dennis Kennedy, Sales Director at IIL, comments: “Over the past 12 months, we have seen an increasing demand for improvements in invoice processing from the Public Sector. LSC joins OGC.buying solutions and The National Assembly for Wales as welcome recent additions to our customer community. We look forward to implementing Procura, and to creating a platform from which LSC can enjoy continuous process improvement.”
Procura will automate LSC’s process for its suppliers’ paper invoices, which numbered over 45,000 in LSC’s last financial year ending 31 March 2007.
The Procura solution is based around converting paper invoices into electronic images, using rules-based intelligence to extract invoice information and transmitting this to LSC’s procurement system for invoice-to-order matching.
Where invoices and orders do not automatically match, Procura’s workflow will notify users that they have invoices requiring action. Once the user has acted, invoice-to-order matching will occur.
The new solution will substantially reduce the amount of invoice information that has to be manually entered into CODA.
As a result of using Procura, LSC expects to enjoy the benefits quoted by other solution users which include operating cost savings, even tighter process security, and improved invoice auditability and control.