Genesis Housing Association has signed a three-year contract with Swiss Post Solutions for an electronic document processing system to streamline its invoicing and accounts payable processes.
SPS will be process around 160,000 invoices and works orders per annum. The documents will be scanned, the information captured and validated against Genesis’s databases, before being delivered directly into Genesis’s workflow in the required format.
James Savill, head of procurement, Genesis Housing Association, said, “Information needs to be accessible by the right people, in the right format and at the right time in order to make the best business decisions. SPS has provided us with a streamlined invoice processing solution that will reduce handling times and improve process efficiencies, resulting in a more effective accounts payable function.”
The SPS solution will ensure invoices are visible to the finance team as soon as they arrive, allowing smoother processing of matched invoices and providing a platform for exceptions handling which allows both Genesis staff and suppliers to view the status of invoices and resolve queries.
Andrea Bass, head of systems accounting, Genesis Housing Association, said, “We have always had a heavy reliance on paper-based processes, resulting in large volumes of paper entering, circulating around and being stored on site. The way SPS has transformed how we handle inbound invoices will have a measurable impact on our cost base. We can already see that there will be a reduction in the duplication of workloads, and far fewer issues and queries arising from our invoice processing.
“It also means that with SPS investing in the latest technology and processes, we don’t have the capital investment in hardware and software that needs upgrading every few years.”