UK pharmaceutical to roll out new invoicing software
Ferring Pharmaceuticals says document management software will cut invoicing and procurement costs
FERRING PHARMACEUTICALS, a pharmaceutical supplier, is rolling out document management software in an effort to speed up invoicing and procurement.
Currently, Ferring photocopies, stamps and circulates invoices and purchase orders internally, which is time-consuming and inefficient.
The new software, supplied by Version One, electronically stores and receives business documents. Ferring said that the new software will help cut paper usage, and save it more than £40,000 annually through reduced administration and off-site storage facility costs.
Sue Britnell, Ferring’s financial controller: “Version One’s technology will transform our purchase-to-pay efficiency levels and make a huge difference to our invoice approval times, including reducing manual data entry by approximately 80%.”
The Version One software will be integrated with Ferring’s Microsoft Dynamics NAV accounting system. It is due to go live next week.