Case Study
FR Scott.
F R Scott Limited is the largest independent ironmongers in the East Yorkshire region. Formed in 1945, FR Scott operate as ironmongers, heating engineers, locksmiths and refrigeration engineers, stocking over 20,000 products.
Sector
Construction
Founded
1945
“We were very apprehensive before taking the big step into digitising a quite lengthy manual process, but Spectrum have made this quite seamless, understanding our requirements quickly and efficiently putting everything in place to make it a success.”
Objective
Slow accounting practices was having a huge knock-on effect across FR Scott’s business. Management information was not being collated as quickly as it could be and manual, mundane tasks were soaking up valuable time and resources within the Accounts department. Scott’s needed to improve this entire finance process and introduce an automated solution.
The Company
F R Scott Limited is the largest independent ironmongers in the East Yorkshire region. Formed in 1945, FR Scott operate as ironmongers, heating engineers, locksmiths and refrigeration engineers, stocking over 20,000 products.
Challenges
- Operations were slow and cumbersome
- Considerable manual input of data
- Management reporting was slow due to the speed of collecting monthly data
Keeping up with an influx of Accounts Payable invoices can be an onerous challenge, especially when the volumes are high and the processes are manual. That’s why FR Scott’s partnered with Spectrum to identify a new way of working.
The Solution
With a desire to drive growth, backed by the introduction of innovative technology and working practices, FR Scott took the decision to invest in improving efficiency within its back office operations.
After carrying out a thorough audit of Scott’s ways of working, the first point of focus was on the automation of mundane accounting tasks. By introducing intelligent document capture, invoice scanning and information management software, Scott’s saw immediate time-savings amongst the Accounts Payable and Accounts Receivable functions. In order to achieve this, we collaborated with Merlin, the provider of Scott’s existing ERP system, to create import routines (via API) and establish a seamless integration. All incoming finance documents are now scanned, securely stored, shredded and easily retrieved in minutes.
Prior to the implementation of Spectrum’s system, it used to take one week for Scott’s to process 500 invoices. This same volume is now processed in just 2 hours, representing a phenomenal saving in time and resource.
Intelligent scanning and storage of invoices
Significant reduction in manual input
Huge time savings on invoice processing
Integration with existing systems
An Insight into tomorrow’s workplace.
“We’ve gained in so many ways. Print-related costs have been substantially reduced, we have far fewer devices, which are more flexible and resilient, and we have the right machines in the right places. All of this allows us to focus on our own business without having to worry about print.”
DirectorYoungs
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