The Community Housing Group hopes to tighten spend control and move from paper-based procurement with V1 technology.
The group -- a leading housing association in Worcestershire and parent to five other not-for-profits -- will automate the 20,000 purchase invoices and purchase orders it circulates every year.
Without the upcoming implementation -- set for December this year -- The Community Housing Group's finance team would be left unable to keep track of its financial commitments. The seven-year-old legacy archiving and workflow system provided them with no visibility of finances or whether they had stuck to the budget.
The firm will be able to cross reference expenses, from advertising costs to council tax, against the budget in real-time.
It will also record all orders and expenditure allowing it to cross reference expenses, from advertising costs to council tax, against the budget in real-time using V1's Archive and Purchasing Management solutions.
The software will be integrated into the company's new Infor Sunsystems accounting system.
One hundred employees will use the browser-based system, which can be accessed remotely to send draft purchase orders to the relevant person for approval using automate workflow.
Matthew Simmons, finance systems administrator at The Community Housing Group said: "V1 Purchasing Management will provide us with improved spend visibility and robust controls to prevent unauthorised spending. Being able to see our financial commitments in real-time will greatly assist us with budgetary control and ensure vital funds are maximised to reinforce our services.
"We will also save a great deal of time by accessing all purchasing related information from one integrated system. This will assist us to answer queries from budget holders and creditors in seconds instead of minutes and we will benefit from further efficiency gains by removing the need for paper."
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