V1, a global provider of business automation solutions, has announced the launch of V1 Purchasing Management and V1 Expenses Management. These web and mobile-based software solutions extend V1’s purchase-to-pay (P2P) product suite, providing organisations with a more comprehensive range of integrated solutions to streamline P2P and improve spend control.
V1 Purchasing Management and V1 Expenses Management integrate with V1’s existing P2P software products, including electronic document delivery, document storage, electronic authorisation and automated processing solutions, fully automating the P2P cycle. These solutions also integrate with all major accounting and enterprise resource planning (ERP) systems, ensuring a seamless P2P experience.
Janette Martin, Managing Director of V1 Ltd, says: “The addition of these new purchasing and expense management solutions to our portfolio places us in a strong market position. We now have a comprehensive P2P product offering that enables finance directors to take greater control over their P2P function, cut administration costs and improve efficiencies.”
V1 Purchasing Management is a self-service enterprise solution that streamlines, simplifies and automates the P2P process. It enables users (including managers) to enter draft purchase orders online and approvals to be managed using workflow. PO’s are automatically routed for approval to the correct budget holders and authorisers to review and authorise using a web-browser at any time and from anywhere. This ensures no hold-ups when users are away from the office, improves spend visibility and reduces administration overheads.
V1 Expenses Management streamlines the expense management process by enabling users, including managers, to raise, review and complete expenses claims from any location and at any time using a web-browser. By moving from paper-based expense management processes to V1’s automated solution, organisations gain greater control over expense claims, reducing maverick spend. These organisations also cut costs and enjoy a typical return on investment of between three to nine months.
