Colliers CRE Reduces Administration by 50% with Advanced Accounts Payable Solution

29 October 2007 – Colliers CRE, one of the UK’s leading real estate advisers, has deployed an advanced accounts payable solution to handle the large volume of invoices the company receives annually in its Property Management Accounts department.

Designed and deployed by Digital Vision, a BasWare company, the solution has enabled Colliers CRE to successfully reduce overall invoice processing times by 50%.

The solution has also reduced supplier queries by at least 50%, as there is now greater document visibility and performance monitoring of processors and approvers. This has served to further reduce costs, improve operational efficiency and free up considerable internal resources.

The new system has given Colliers CRE the opportunity to work more closely with partners and key suppliers, with a faster payment cycle promoting stronger supplier relationships. Document accessibility also allows faster delivery of interim and annual accounts to clients and tenants, further improving overall levels of service delivery.

The Kofax Ascent OCR software automatically extracts data from the scanned invoices and using SpeedKey, a Kofax module developed by Digital Vision, automates the correction and validation processes to reduce the margin for error and optimise processing capacity.

Scanned images are directed through the automated workflow solution for approval. Approved invoices are forwarded to the TRAMPS accounting application, ensuring a more streamlined approval process and guaranteeing the timely payment of supplier invoices.

Claire Thomas, Head of Property Management Accounts at Colliers CRE, said: “An efficient accounts payable function is fundamental in Property Management and the benefits to our clients of a leading-edge integrated system such as this are considerable.

“Advantages range from strong supplier relationships to close monitoring of expenditure and faster financial reporting to the landlord and tenant. Document accessibility and audit trail are also much improved.”

Following the successful roll-out, Colliers CRE is considering extending the solution to its Corporate Accounts Department, to automate the handling of its own purchase invoices.

Digital Vision
Peak View
King Edward Street
Macclesfield
Cheshire
SK10 1AQ
Context Public Relations

About Digital Vision, A BasWare Company
Digital Vision is a leading document processing systems integrator, specialising in OCR capture, scanning for workflow and content management. A leading player in banking and financial services, purchase to pay automation and the healthcare sector, Digital Vision works with a number of blue-chip and international organisations such as Barclays, BAE, DSG International and PZ Cussons.

In July 2007, Digital Vision was acquired by BasWare Corporation, the global leader in Enterprise Purchase to Pay and Financial Management solutions. Founded in 1985 and headquartered in Espoo, Finland, BasWare currently has over 500,000 users in various industries across the private and public sectors who depend on BasWare products to increase operational efficiency, control and compliance.

About Colliers CRE
The Colliers CRE Group provides a broad range of real estate consultancy services and comprises; Colliers CRE (general practice surveying); Colliers Capital UK (fund management); Locum Consulting (destination consulting) and Deanwater Estates (property co-investment). The Group also owns majority shareholdings in Colliers Jackson-Stops in Ireland and Colliers International in Spain.

This release was published on openPR.