Date published: 01.09.08 - not release date

Leading Tour Operator Makes Huge Savings With E-Invoicing Solution From Version One

14th July 2006 – In a competitive industry with ever-shrinking margins, one of the UK’s leading independent tour operators and charter-flight only companies, CT2, has moved to an e-invoicing solution from Version One to cut costs. CT2, which operates both CT2-flights (www.ct2-flights.com) and low cost flight operation Locoflights (www.locoflights.com), is saving over £50,000 per year with Version One’s e-invoicing solution and has made a return on its investment in just seven weeks!

Posting over 200,000 invoices every year to travel agents and online customers was proving very expensive and time-consuming, and didn’t fit into CT2’s online business model. Graham Currey, IT Director from CT2 explains, “Flight only operators are in a fiercely competitive industry and so cutting costs and improving customer service became top priorities. Version One’s e-invoicing solution has revolutionised our invoice processes. Not only have we seen a return in our investment in just seven weeks, we can now follow up online bookings with the automated delivery of invoices, saving time and money whilst significantly enhancing the customer travel experience.”

With Version One’s system in place, which took just three weeks to implement (from signing the contract to going ‘live’), invoices are created using a flexible form design module and are then automatically emailed out as PDF attachments. Copies of all outgoing invoices are automatically saved as XML documents on CT2’s back-office system, enabling the credit control team to refer to them when resolving invoice queries.

As invoice delivery is now fully automated, CT2 can invoice customers at all times of the day and night and even when the office is closed, speeding-up the receipt of payment. Furthermore, as well as saving on printing and postage costs, CT2 has also been able to redeploy back-office administration staff into more critical sales roles, providing greater selling opportunities.

The decision to implement Version One’s system was based upon a couple of key factors, as Currey clarifies, “We looked at a number of e-invoicing solutions on the market and Version One’s system was undoubtedly head and shoulders above the rest. Unlike other solutions we evaluated, Version One’s e-invoicing system has the flexibility to provide invoices in a number of different formats according to agent requirements. Some travel agents prefer to be emailed with a PDF for every invoice raised whereas others prefer a batch of invoices in a single PDF. Whatever their requirements, we have been able to quickly and easily accommodate them.”

Currey continues, “Importantly, Version One’s system is extremely cost-effective. Unlike some competitor products, there's a one-off payment on purchase rather than an ongoing charge for every invoice produced, providing a clear and swift payback. In fact, the payback has been so impressive that we are already looking at using Version One’s solution for the electronic delivery of statements in addition to invoices. This will provide us with even greater cost savings and will further improve customer service, ensuring CT2 remains a market leader.”

-Ends-


Notes to Editor

About CT2 www.ct2-flights.com and www.locoflight.com

Based in Manchester, £30 million turnover CT2 is one of the UK’s leading independent tour operators and charter flight-only companies. CT2 provides low-cost flights online to Tenerife, Malaga, Lanzarote, Pathos and many more destinations worldwide from a variety of UK airports.

Having been in business for over 20 years, CT2 has vast experience of the travel industry and unlike traditional ‘no frills’ operators, flights are available through travel agents nationwide as well as online.

About Version One www.versionone.co.uk

Version One Ltd is the author of electronic document management and imaging software. These solutions enable the automated electronic storage, retrieval, management, enhancement and delivery of business documents such as invoices, purchase orders and statements. This 'paperless office' technology is seamlessly integrated into all major ERP and accounting systems and with a typical ROI of less than six months, Version One's solutions are enabling 1000's of organisations to save dramatic amounts of time and money.

Contact:

Liz Ebbrell, Version One
Liz.ebbrell@versionone.co.uk http://www.versionone.co.uk
+44 (0)1625 856500 or 07917 634 705