The solution that EASY has delivered has enabled Seven Energy to rapidly streamline its payment procedures, which now all adhere to strict payment terms and carefully set payment dates. “If there are any queries, users can quickly go into the system and look at the scanned image of the invoice, which is great for us as well as our supply chain,” adds Richard Ray, Group Systems Manager at Seven Energy.
Key to the solution is the use of a unique reference which is achieved using barcode stickers. The barcode references are entered into the procurement system when the invoice is registered, providing the link to the document in EASY. When the invoice is submitted for approval, the user can view the internal coding of the document but also view the original scan. Seven Energy has also implemented Infor BI (Business Intelligence) which enables users to drill down from a single balance to the individual transaction level and pull up the relevant invoices through the document management system, any time they want to.
“The beauty of this is it can be done from anywhere – London, Lagos or wherever there is an Internet connection,” Richard adds.
The new EASY DM finance documentation system has also enabled Seven Energy to get an overview of its often complex tax returns (due to the international nature of its business). With three different types of tax in Nigeria alone, that’s a real help, as it’s made it much easier to track tax enquiries right across the business, says Richard. Now, thanks to EASY, internal tax specialists can easily pull up invoices, terms and conditions from the document management system.
Efficient digital contract storage
Seven Energy also uses EASY to store contracts and associated documents that are held in a third party contract management system. Seven chose to store the documents in EASY as staff were already familiar with the software for invoices and the indexing and fast retrieval were also key to their requirements.
That’s because accountability is paramount to Seven Energy’s success. “We often have transactions for significant dollar amounts,” Richard points out. “Having vital business contract documentation stored away securely in a digital content management system means we never have to dig into cabinets of paper. It also avoids data duplication and promotes much better contract management all-round,” he says.
The document management system has also been extremely beneficial in managing one of the processes that has the