Henderson Global Investors
Henderson Global Investors (Henderson) is a leading independent global asset management firm Headquartered in London and has offices in Amsterdam, Frankfurt, Luxembourg, Madrid, Milan, Paris, Vienna and Zurich as well as in the USA, India, China, Japan, and Singapore.
The Challenge
Henderson wanted to upgrade its Property Funds Accounts Payable process in order to reduce paper flow as well as to improve efficiency and process transparency. With the accounts department already handling more than 20,000 purchase invoices each year, streamlining the way that they were tracked and authorised was a major priority. Henderson also wanted to make the process of paying invoices more efficient and eliminate unnecessary delays or duplications.
The Solution
After evaluating a range of potential solutions, Henderson asked e-docs UK to design a solution that would integrate with its existing ERP system and automate the accounts payable process.
To achieve this, e-docs UK worked closely with Henderson’s Property IT team and their specialist supplier of process automation solutions, to develop an interface that delivered interoperability with the existing IRES property management and accounting system. This integration required complex issues to be overcome including differing European VAT rates.
The complete solution was deployed in just four months and all invoices are now shipped direct to e-docs UK for processing. This includes scanned copies received from Henderson’s German and Luxembourg offices. Our state of the art scanning technology automatically captures all relevant invoice data from paper-based as well as PDF and XML formats.
Processing is carried out according to predetermined business rules and all data is automatically uploaded onto a secure online repository that uses mirrored web servers situated at two separate locations to provide the highest levels of service resilience and data security.
This data is available for immediate online access and authorisation requests are automatically emailed to individual fund and finance managers who approve and code each invoice to update the system. If any invoicing problems are found, they are returned to the accounts department as exceptions for special handling.
Immediate Benefits:
The need to send hard copies of invoices to managers has been eliminated
Suppliers can now be paid in a more timely manner
System provides complete invoice processing transparency from receipt to approval
Resolution of supplier queries has been speeded up and enquiry calls have been reduced as clients can check the progress of their invoices online themselves
“The e-docs UK solution integrates seamlessly with our legacy ERP system (IRES) to create immediate efficiencies. By moving to a paperless AP invoice process we have enhanced control processes and lowered risk of double entry and other similar errors. Having complete transparency of invoice progress with fully auditable controls has fulfilled our drive for straight through processing from invoice receipt to payment.” commented Mark Griffiths, Head of Property Systems and Operations at Henderson. “Adoption has been quick across our multiple European sites and staff have found it very simple to use”.
Who are we?
e-docs UK is a leading provider of Business Process Optimisation services that give greater control over documents and processes along with major improvements in productivity, efficiency and customer service.
Please call us on 01992 801860 to understand how we can help your business
