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STORTEXT PROVIDES P2P/INVOICE PROCESSING SOLUTIONS TO THE TREASURY SOLICITOR'S DEPARTMENT

03-31-2010 11:15 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Stortext Head Office

/ PR Agency: Stortext Head Office
Bedfordshire, United Kingdom (March 19, 2010) - Stortext is delighted to announce that it has been selected to provide Procure 2 Pay/Invoice Processing solutions to the Treasury Solicitor's Department (TSol). TSol provides legal services to more than 180 central government departments and other publicly funded bodies in England and Wales, and collects Bona Vacantia on behalf of the Crown.

TSol is one of the largest legal organisations in the UK, utilising the skills of over 800 dedicated employees, half of which are solicitors and barristers. TSol procurement and settlement processes have, up until now, been entirely manual which has led to the usual delays and problems experienced when trying to authorise and reconcile invoices across such an organisation. TSol knew they had an opportunity to drive major efficiencies and radically improve all points of service delivery but needed specialist help if they were to maximise the opportunity.

After a competitive tender process TSol selected Stortext, and one of their partners, for their specialist knowledge in delivering end-to-end solutions that would not only streamline organisational processes but deliver maximum efficiencies and cost savings. Key to the success of the project is Stortext's Omnidox:Accounts solution. Stortext's P2P method of outsourced and hosted invoice processing facilitates a seamless end-to-end experience that delivers unparalleled commercial streamlining. For the project to be a success Stortext had to incorporate invoice data from the Zanzibar marketplace into their hosted Invoice Processing platform, Omnidox. Zanzibar is the UK Government's strategic collaborative electronic procurement system.

Hard copy invoices are sent to a dedicated PO Box at Stortext where they are scanned and data captured before being put into workflow alongside their electronic counterparts in Omnidox. Once approved, clean payment data is output to the TSol eFinancials ERP system.

Pauline Brown, Assistant Director Financial Management at TSol, said: "Stortext's solution, with its automatic interfaces to our financial system, is a huge step forward for TSol. It introduces significant efficiencies to our invoice payment processing. By working in partnership with Stortext we will be able to pay our bills faster and have access to much more real time information about our invoices. The new system will also improve control, provide better management information and audit trails and is less prone to error, with no loss of paper invoices. Additionally it reduces the amount of paper we need to store and provides faster retrieval of invoices at the click of a button. Overall, we expect the new way of working to deliver efficiencies of 60% in the Accounts Payable Team alone. Although early days, we are very confident that the efficiencies promised will be delivered."

To find out more about Stortext and their document management services, visit their website at http://www.stortext.com/ or telephone 01582 845 900

Established in 1983, Stortext have grown into industry leading providers of Business Process Outsource solutions which enable organisations to streamline their departments, deliver efficiency gains and often significantly cut costs. Specialising in Hosted Document Management and Outsourced Document Processing, they pride themselves on delivering high levels of service and longstanding clients include Virgin Atlantic Airways, O2 and Scottish and Newcastle.

Stortext Head Office
5 Nimbus Park,
Porz Avenue,
Houghton Regis,
Bedfordshire
LU5 5FR
Tel: 01582 845900
Mark.Iveson@stortext.com

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