Specialist in document management and financial process automation, Image Integrators Limited, has responded to challenging trading conditions in the retail sector by scaling up its Procura Managed Service to help retailers make sizable cost-savings in the area of Accounts Payable.
The Procura Managed Service brings together Image Integrators scanning, data capture and storage technology. It enables retailers to eliminate paperwork and automate the receipt and approval of incoming supplier invoices.
In addition to offering technology that proves its worth every day with our retail clients, we know this market intimately and can play a proactive role in improving their processes and their bottom line, explains Gerrard Kennedy, Managing Director at Image Integrators.
Retailers dont realise the enormous savings they can make by taking paperwork out of their financial processes, continues Kennedy. From our clients experience, we can benchmark ongoing annual savings of more than 100,000, just in Accounts Payable, for a company receiving 100,000 or more supplier invoices a year.
Image Integrators maintains that retailers are unaware of the true cost of processing their supplier invoices, and is confident that its Managed Service can deliver this at a fraction of the cost of doing the task inhouse.
As retailers struggle to get sign-off for capital projects, Image Integrators is seeing increased interest in its Managed Service approach, which clients tend to treat as revenue expenditure. The Service offers pre-set prices for ease of budgeting, and is driven by guaranteed service levels.
Image Integrators runs a factory-like operation for the scanning and data capture of invoices and other finance and trading documents. This functions from the companys Shrewsbury and Telford Data Centres. Currently processing more than 1million documents a week, these operations have the capacity for increased throughput and are being scaled up to meet expanding client requirements.
To encourage retailers to look into this area of potential savings, Image Integrators is offering to perform a health check of their Accounts Payable function.
Image Integrators retail clients include Lakeland, Screwfix, Debenhams, Wolseley UK (whose many retail brands include Bathstore and Plumb Center) and All Saints.