Same day processing
Background and challenges
Kirklees Council were looking for ways to reduce their operating cost due to tightening budgets and increasing financial pressure. They’d identified the back office as an area of potential opportunity for further savings, in particular the management of their financial processes.
Kirklees Council appointed Parseq as their invoice processing outsourcing partner at the beginning of 2018. Our first step was making sure our systems aligned and our implementation team worked hand in hand with the client’s project sponsor to ensure a seamless kick o and integration.
Parseq now process all of Kirklees Council’s invoices which are received by either post or email. Our solution includes:
- A dedicated PO Box and email inbox set up for the Council where we receive all postal and electronic invoices from the Council’s suppliers directly
- Opening, visual validation, preparation and scanning at 300 dpi
- Data capture including date, invoice number, purchase order, gross and net amounts, VAT and currency code
- Exceptions handling process agreed with the client and implemented Storage of paper documents for four weeks followed by secure destruction
- Data storage for a two-year period for all database online entries
- Processed circa 284,000 electronic invoices and 8,000 postal invoices to date
- Same day processing of physical invoices received by 11am and electronic invoices received by 2pm
- All data is transmitted to the client daily by 5pm
- Resulting in improved data matching and input accuracy
- Reduction in manual data entry and intervention through automation
- Ultimately enabling Kirklees Council to reduce cost, improve cash flow and take control over their invoice processing