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Air
Cargo Events
Northern Air Cargo (NAC), Alaska's largest
scheduled all-cargo airline, is implementing
Version One's document management technology.
This technology,
which will be accessible directly from NAC's
CedarOpenAccounts eFinancials software system, will
improve invoice processing efficiency whilst
eliminating $24,000 of document archiving costs
every year.
John Eckels, Senior
Director of Administration and Finance from
Northern Air Cargo says, "We're currently drowning
in paper! When a purchase invoice arrives into the
accounts department, it's coded and then manually
passed to two different managers for approval.
These managers could be located in any of our three
head office buildings. Once approved, the invoice
is passed back to accounts and paid. The paper
invoice is stored in an onsite filing cabinet and
after two years, it's stored in an offsite
archiving facility. With thousands of purchase
invoices being processed in this way every month,
the time, cost and storage implications are
staggering!"
NAC, which flies to
21 scheduled locations within rural Alaska, is
implementing Version One's electronic document
storage, automated document delivery and form
production solutions. With these solutions in
place, NAC will replace its paper-based purchase
invoice processes with more efficient automated
procedures. All purchase invoices will be scanned
and automatically stored in an electronic archive
before being destroyed. By drilling down through
CedarOpenAccounts or by using the web browser,
managers will be able to access the archive and
both approve and query the imaged invoices directly
from their PC screens, within a matter of
seconds!
Eckels says,
"Version One's technology will streamline purchase
invoice processing, freeing-up time so that staff
can do more productive jobs. Staff will also be
able to query purchase invoices and respond to
suppliers more efficiently, significantly improving
relationships."
In time, NAC will
use Version One's technology for storing other
incoming documents such as credit notes. The
technology will also be utilized for creating,
electronically delivering and storing outgoing
documents such as sales invoices and statements as
well as a range of non-financial documents such as
customer contracts and supplier
correspondence.
Brian Moran,
CedarOpenAccounts' General Manager, North America
says, "The plan is to roll-out Version One's
technology beyond just NAC's finance department. It
has the flexibility and scalability to be used for
electronically storing, creating and delivering
documents across the entire business, enabling NAC
to further improve organization-wide efficiency and
enjoy a rapid return-on-investment."
Eckels adds, "By
storing all business documents in the electronic
archive and electronically producing and delivering
all our outgoing documents, the cost savings will
be phenomenal! The offsite archive will become
redundant, saving us $24,000 each year and we'll
also cut costs through the elimination of
pre-printed stationery. Getting sales invoices,
statements and contracts to customers more quickly
and being able to respond to customer queries in a
timelier manner, will also improve cash flow and
more importantly, our customer
relationships."
About Northern Air Cargo
www.northernaircargo.com
Northern Air Cargo
employs roughly 300 Alaskans and flies to
twenty-one scheduled locations in rural Alaska. NAC
has served as Alaska's largest scheduled all-cargo
airline since its humble beginnings in
1956.
About Version One
www.versionone.co.uk
Version One Ltd is
the author of electronic document management and
imaging software. This software enables the
automated electronic storage, retrieval,
management, enhancement and delivery of business
documents such as invoices, purchase orders and
statements. This 'paperless office' technology is
seamlessly integrated into all major ERP and
accounting systems. With a typical ROI of less than
six months, Version One's solutions are enabling
thousands of organizations to save dramatic amounts
of time and money whilst reducing their
environmental footprint.
About COA Solutions Ltd.
(formally CedarOpenAccounts)
www.coasolutions.com
COA Solutions Ltd.
is the UK's
fastest-growing Financial Management, Procurement,
Human Resource & Payroll software supplier with
offices worldwide, including COA North America
based outside of Boston MA. COA's suite of business
applications for public and private sector service
organizations combines core business
management systems, integrated with a range of
collaborative and business
intelligence solutions. These extend the value
and effectiveness of the Finance, HR &
Payroll departments across all types
of organization. COA has more than 400 staff
and 1700 clients from across the globe.
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