Survey Document Management
82 per cent of finance
professionals believe
document management can
reduce business disruption
caused by bad weather
he findings of a survey by
T
document management
software author Version One
highlight that over three-
quarters of UK senior finance
professionals believe that document
Over half (53 per
management software can reduce the
cent) of those
disruption caused by bad weather on their surveyed state that
accounts payable (AP) and accounts
adverse weather
receivable (AR) functions. In addition, 53 per
conditions have
caused disruption
cent of those surveyed state that they have
to their AP and AR
personally experienced disruption to their
processes.
AP and AR processes as a result of adverse
weather conditions. Version One carried received, impacting cash flow. Disruption caused disruption to their AP and AR
out the research with 100 senior financial to the receipt and circulation of purchase processes. Some 42 per cent say that they
professionals (finance directors and invoices can also result in delays with paying have been unaffected, while worryingly, the
managers) across a range of public and suppliers which, in turn, can lead to late remaining 5 per cent are unsure whether
private sector organisations in the aftermath payment penalties. bad weather has negatively impacted their
of the worst snow showers for 18 years. finance functions or not. One respondent,
Business continuity
a finance manager from a manufacturing
Minimising impact
As document management software enables company, said: “If bad weather delays
Version One’s survey reveals that 82 per the electronic delivery, circulation, storage Royal Mail deliveries, our customers do
cent of senior finance professionals believe and processing of business documents, it is not receive their invoices swiftly which can
that document management can reduce not reliant on the postal service and so key affect payment at month-end.” Another
disruption caused by adverse weather financial documents can still be delivered, respondent, a finance director from a higher
conditions, such as snow and floods, with received and circulated during disruptive education college, admitted: “We have
25 per cent of these stating that document weather conditions. Julian Buck, general recently lost vital archives due to flooding.”
management would significantly minimise manager of Version One, commented: A number of respondents also cite that they
the impact of bad weather on their AP and “Document management systems are vital have experienced delays with paying
AR functions. Some 14 per cent of to ensuring business continuity during suppliers as a direct result of bad weather.
respondents say that their business would bad weather. By using these systems to
be unaffected regardless of whether they efficiently deliver, circulate and process Buck concluded: “The recent appalling
had document management in place or not, financial documents, this ensures that the weather conditions should be a lesson
while 4 per cent are unsure. With organisations finance department continues to operate learnt for organisations. If they are to avoid
relying on the efficient delivery of sales smoothly regardless of the weather.” disruption to their finance functions and
invoices for effective cash collection, any ultimately, ensure positive cash flow,
disruption to the postal service caused by Over half (53 per cent) of those surveyed implementing electronic document
bad weather can delay payments being state that adverse weather conditions have management systems are key.” circlesolid
www.itrportal.com
IT RESELLER – MARCH 2010 43
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