Case Study: Bonhams streamlines purchase-to-pay and cuts manual data entry by 80% with V1 Limited

Bonhams, the International Auctioneer, Streamlines Purchase-to-Pay and Cuts Manual Data Entry by 80% with V1

Bonhams, one of the oldest and largest fine art and antiques auctioneers, faced a slow, paper-heavy purchase-to-pay process that required manual entry of some 36,000 invoices a year, caused data-entry errors, missing paperwork, lengthy approvals and high printing and storage costs. They selected V1 Limited for its experience and proven ability to tightly integrate with Bonhams’ Advanced Business Solutions financial management system.

V1 Limited implemented a solution using a Kodak i260 scanner and V1 document management and imaging systems with OCR to scan, tag and electronically store invoices and feed validated data into Advanced Business Solutions. The automated workflow cut manual data entry by 80%, saved at least £60,000 annually, removed the need for third‑party off-site storage and dramatically improved invoice retrieval and approval speed.

Bonhams

Anthony Adewumi

Systems Accountant