24th March 2005 - Directors of the UK's major software authors and resellers attended Version One's prestigious Industry Briefing, which was held at the House of Commons on the 10th March 2005.
The event, which was hosted by Sir Nicholas Winterton, MP highlighted the major trends within the financial software market. Industry luminaries such as Dennis Keeling, Chief Executive of BASDA, the Business Application Software Developers Association, highlighted the key issues that are shaping our industry in 2005. "IT budgets will increase by at least 3% above inflation and Finance Departments will be focused on clear and measurable R.O.I. from IT."
Software authors and resellers discussed their strategy for growth, new business is growing slowly but most resellers see base business as being the real revenue opportunity
According to Mark Thompson, MD of CedarOpenAcounts, the third largest financial software author in the UK, 'Fewer organisations are replacing their existing accounting software systems. Many customers are looking to extract as much out of their existing systems by implementing add-on modules. Of all the add-on modules that customers can purchase, document management and imaging has one of the fastest ROI's."
The main focus of the event was the official launch of DbCapture, an Automated Invoice Capture Solution that enables organisations to automate the processing of supplier invoices. An early adopter of DbCapture, Michelle Jeffrey of Johnston Publishing, demonstrated the many business benefits of using this technology
'We are currently saving over £1/2M per year with Version One's document management and imaging system, DbArchive. DbCapture gives us the potential to save 60% of the time spent by 46 clerks processing supplier invoices.'
Phil Buck, Sales Director at Patech, an Oracle partner, said 'We are really excited by DbCapture, the new OCR technology from Version One. This product will significantly increase our competitive edge and help us to win even more new business.'
Version One Ltd, a rapidly growing company established in 1989, is the author of a range of document management and imaging software solutions.
Version One Ltd is officially named as one of the fastest-growing technology companies in Europe, Middle East and Africa (EMEA) in the 2004 'Deloitte European Technology Fast 500 Awards'. Version One's leading document management system - DbArchive - was a National Gold Award winner in the Green Apple Environmental Awards for Commerce and Industry 2004. By automatically archiving electronic copies of all outgoing and incoming business documents, DbArchive saves dramatic amounts of time and money.