Largest UK Minerals Company Hits Gold With Version One

Hargreaves Services plc is streamlining its purchase requisition and credit control processes by implementing Version One technology.

[ClickPress, Thu Jan 18 2007] Hargreaves Services plc, the UK’s largest carbon-based minerals importer and handler, is streamlining its purchase requisition and credit control processes by implementing ‘paperless office’ technology systems from Version One (www.versionone.co.uk). These systems, which are tightly integrated into Hargreaves’ Sage Line 500 accounting package, will significantly improve both cashflow and purchasing efficiency.

With sites across the UK and 9000 purchase orders, sales invoices, statements and remittances moving around the company on a monthly basis, Hargreaves recognised that its financial processes were far too reliant on paper. With the introduction of Version One’s systems for the desktop design and electronic delivery of these documents, Hargreaves will eliminate the ‘paper chasing’ inherent in its requisition and credit control procedures.

“After evaluating a number of different paperless-technology solutions, we decided to implement Version One’s systems”, says Marcus Spence, Project Accountant from Hargreaves Services plc. “These systems have greater functionality and are far more robust and adaptable than any other document management solutions we had looked at. They are also proven to tightly integrate into Sage platforms.”

Marcus continues, “As well as this, Version One’s electronic delivery systems, DbFax and DbMail, enable the automated delivery of business documents by fax and the e-mail of documents. The system is so flexible that every customer and supplier can have their own preferred method of delivery. Few document delivery solutions provide this level of flexibility.”

The form design solution is being used to produce invoices and remittances directly from the desktop, eliminating pre-printed stationery. Version One’s document delivery systems are configured so that when a purchase order is produced, it is automatically faxed or emailed through to the supplier. A PDF copy of the purchase order is then delivered to the purchase order requisitioner for their records.

To enhance credit control, Hargreaves is also implementing an automated procedure so that as soon as a customer is over their credit limit, an email or fax alerting the customer to their credit status is instantly sent by Version One’s electronic delivery systems.

Marcus comments, “As a direct result of implementing Version One’s technology, we’ll be able to chase debt far more quickly which will undoubtedly improve cash flow. The systems will also reduce inefficient paper-chasing and save us huge amounts of money and staff time. In fact, we’re so impressed with the systems that we’re looking at implementing other Version One technology to further streamline our business processes.”

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Notes to Editor

About Hargreaves www.hargreavesservices.co.uk

The Hargreaves Group is a £150 million turnover UK company that provides essential services to industry and the public. Hargreaves transports millions of tonnes of raw materials; imports, processes and sells mineral and biomass products; and offers an ever widening range of services to Britain's waste industry. The trading divisions in the group comprise Mineral Services, Transport Services, Monckton Coke & Chemical Company Limited and Norec Limited as well as the companies Joint Venture interests.

Hargreaves is the largest haulier of bulk materials in the country with a fleet in excess of 600 vehicles and the Minerals division is the largest importer of coal for use in the domestic and industrial markets in the UK.

About Version One www.versionone.co.uk

Version One Ltd is the author of electronic document management and imaging software. These solutions enable 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 and with a typical ROI of less than six months, Version One's solutions are enabling thousands of organisations to save dramatic amounts of time and money.

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