Case Study: Woldmarsh (farmers' purchasing co‑op) increases invoice processing efficiency and accuracy and cuts costs with V1 Limited

Woldmarsh Increases Invoice Processing Efficiency and Accuracy While Reducing Costs With V1 Financial Automation Software

Woldmarsh is a membership co-operative for farmers with about 1,000 members and £104m annual turnover that needed to automate invoice processing to improve efficiency and accuracy and reduce costs. Faced with rising volumes of PDF invoices, manual printing, data entry and an ageing accounts team, Woldmarsh selected V1 Limited and its financial/invoice automation software to address these challenges.

V1 Limited implemented its financial automation solution—using OCR-driven data capture, document management and plans for EDI—so invoices are scanned, indexed and uploaded automatically. As a result Woldmarsh increased processed invoices from 175,000 to 200,000 per year (+25,000), raised workload by 14% while reducing staff from four to two part-timers, cut paper and storage needs, improved accuracy and auditability, and gave farmers faster access to purchase and cost data.

Woldmarsh

Hazel Copeland

Chief Financial Officer