Released on: October 29, 2007, 7:50 am

Press Release Author: Version One Limited

Industry: Software

Press Release Summary: Admiral Group implements Version One\'s document management to
improve purchase-to-pay processes

Press Release Body: The Admiral Group is fully-automating its purchase-to-pay (P2P)
processes with Version One's document management technology (www.versionone.co.uk).
The Admiral Group, which provides insurance services via its six brands - Admiral,
Diamond, Bell, elephant.co.uk, Gladiator and Confused.com - is going live with
Version One's full portfolio of document management and imaging solutions.



Version One's technology, which is being implemented into Admiral's existing Sage
Enterprise accounting system, will enable Admiral to move from time-consuming,
manual-based P2P processes to a fully-automated P2P cycle. As well as considerably
improving efficiency, this will cut costs, provide the finance department with
greater control and free-up both storage space and data entry clerks' time.



Admiral's current purchase-to-pay processes involve the manual data entry of invoice
information and passing invoices around the organisation for signatory approval.
Once an invoice is approved, a cheque is raised and this, together with the
remittance advice, is printed-out and posted. All paid invoices are stored away in
on-site filing cabinets and after six months are shipped to an off-site archive
facility.



Coralie Poumel, Admiral's Financial Controller says, "These processes are
labour-intensive, inefficient, costly and prone to both data entry errors and lost
invoices during the approval process."



With Version One's technology in place, Admiral will image all purchase invoices
using a Kodak scanner. These invoices will be stored in the electronic archive and
automatically processed, with the data on the invoices being intelligently read and
verified against the Sage system. The invoices will then be automatically sent for
approval and coding within the accounts department and then for approval to the
relevant department managers, who will be able to view the imaged invoices via
weblinks. Once authorised, the purchase invoices will be paid by BACS-IP and the
accompanying remittances will be delivered either by electronic mail or automated
fax.



Poumel says, "By automating purchase-to-pay, huge amounts of paper will be removed
from the process. The finance department will no longer need to chase paper invoices
around the company during the approval process, provide copy invoices and print,
envelope and post cheques and remittances. The filing and retrieval of paper
invoices will also be eliminated and time spent manually entering invoice data will
be significantly reduced."



After gaining approval from HM Customs and Excise, Admiral will image and then
destroy all invoices, eventually eradicating its costly offsite document storage
facility.



Poumel adds, "We'll improve purchase-to-pay efficiency ten-fold and maintain far
greater control over the invoice approval process, enabling faster payment
processing. We'll also save over £3,000 each year by eliminating cheque payments."



-Ends-



Notes to Editor



Images available upon request



About Admiral Group Plc. www.admiralgroup.co.uk



Admiral Group is a £708.2 million turnover company. In June 2006, the Group had over
1 million customers, 2000 members of staff and six brands, as follows:

Admiral - the Group's first brand, set up in 1993 - mainly targeting those who
traditionally pay higher than average premiums, including drivers under-35 and those
living in big cities. www.admiral.com



Bell - set up originally as Bell Direct in 1997 - its main target market being
drivers with low no claims bonus. www.bell.co.uk



Diamond - created for women in response to a need in the market place for insurance
specifically for young women drivers, which is not only good value, but also as
hassle free as possible. www.diamond.co.uk



elephant.co.uk - is the UK's first wholly online car insurance service. The brand
passes on cost savings generated by being an online brand to customers in the form
of lower premiums. www.elephant.co.uk



Gladiator - is the Group's commercial vehicle insurance broker that was launched in
April 1998. The Company acts on behalf of several of the largest commercial vehicle
insurers in the UK. www.gladiator.co.uk



Confused.com - is an intelligent, automated car insurance shopper. Customers input
their details once, and receive quotes from all the major car insurance websites.
www.confused.com



In 2006, Admiral went International with the launch of a Spanish operation,
www.balumba.es



About Version One www.versionone.co.uk


Version One Ltd is the author of electronic document management and imaging
solutions. These solutions enable the 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 cut paper
consumption whilst saving dramatic amounts of time and money.



Contact:

Liz Ebbrell, Version One

Liz.ebbrell@versionone.co.uk

+44 (0)1625 856505 or 07917 634 705





Web Site: http://www.versionone.co.uk

Contact Details: Liz Ebbrell
Version One
London House
London Road South
Poynton SK12 1YP
+44(0)1625 856505
pr@versionone.co.uk
www.versionone.co.uk