Established in 1968, Pets Corner has grown to 70 stores nationwide. Their core values endorse the provision of best possible service to their customers at all times
Pets Corner needed to streamline their existing processes. Replacing their manual data inputting and improving their filing, archiving and file-share facility would greatly reduce overheads and free up employee’s time that could be better spent. Pets Corner could then offer suppliers both improved payment times and accuracy. In the long term, this would improve confidence and trading relationships with their suppliers and could lead to promt payment discount negotiations. With the companies drive to growth and profitability, major advancements in procurement were required.
Iain Dougal, Financial Director at Pets Corner said: “Having successfully grown our pet supplies outlet stores to 65 across the UK, we were normally processing thousands of invoices every month. With expansion and development planned, this number was soon to increase and the man-hours required would need to double in order to keep the process flowing; suppliers paid promptly and purchase data available to the Directors at any given time. We knew our overheads were growing but considered this a necessity.”
“All invoices received at Pets Corner from suppliers are now captured, recognised, interpreted and processed with minimal human intervation.”
The recommended solution was to install an automated data extraction process that would handle the 2,000+ invoices Pets Corner were receiving every month. Correctly identifying and extracting the necessary data including all line-item details would allow automatic posting into their Sage 200 accounts system and analysis application, Cognos.
A combination of Invu Capture - for data extraction - and Invu Document Management and Workflow for easy storage, retreival and management of information. The strength of the proposal was its flexibility in processing documents from a number of sources including email, scanning or monitored folder locations. This labour-free and cost saving solution provides scalability, allowing for the increase in supplier invoices attributed with business growth without any reflective administration overhead increases.
The invoice data is imported directly into Sage 200 and the electronic version of the invoice is filed and saved directly into the Invu Document Management System where it remains for the required invoice lifecycle of 6 years. This allows Pets Corner to improve the processing of invoices whilst adhering to all its statutory obligations.
Once stored in Invu, those invoices requiring management sign off enter the Invu Workflow following steps predetermined by Pets Corner prior to implementation. The document is digitally routed around the organisation with budget holders receiving notification via email that they have an invoice that needs reviewing for approval.
“The processing of our purchase invoices from major suppliers would take weeks. Now we process these in a matter of days.”
All invoices received at Pets Corner from suppliers are now captured, recognised, interpreted and processed with minimal human intervation. The only time personal intervention occurs is if the captured invoice data does not meet the criteria defined by Pets Corner during the system set-up phase. In this instance, that specific invoice issue is addressed without interrupting the processing of other invoices. This resolve has greatly reduced the time and effort in capturing invoice data through to processing for payment. Pets Corner have greatly advanced their customer-supplier relations which in turn has resulted in improved supplier discount on products.
The Invu Invoice Processing solution implemented at Pets Corner, offers greater control and visibility on the status of an invoice at any given time and has removed the need to move expensive and cumbersome paper copies around a multi-site organisation, saving costs, minimalising the risk of loss or damage to invoice and dramatically reduced the time taken to pay suppliers.
“Not only are we able to accurately extract data from our incoming invoices to pass to our accounts application, but we are also extracting, verifying and integrating to line item level. Giving me and my business accurate control of our purchases and payments without increasing the size of the team involved.”
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Pets Corner implemented its Invu Software with Invu reseller YourDMS. Please contact Invu for more detail