Version One has announced that its turnover for the last financial year (05/06) has increased by almost 25% to just under 4 million. With Version One having experienced a 20% to 50% year-on-year growth over the past five years, these latest results mark the continued upsurge in demand for the company's document management and imaging solutions.
As well as increasing demand from organisations of all sizes, Version One has also seen increasing demand for its technology from software authors and re-sellers. In the last twelve months, Version One has signed up over twenty new partners including Cognition, Foundation Systems, Infor, Topaz and XKO, as well as numerous Oracle partners.
According to Tony Bray (pictured), Director of Version One, a combination of reasons are behind the company's impressive growth: "We are currently seeing huge demand for systems which take the hassle out of purchase-to-pay processes. Financial directors are recognising now more than ever before that by automating supplier invoice processing, productivity is boosted, cash flow improved and the business can enjoy faster and more accurate data capture from incoming invoices, saving both time and money."
"In addition, with Sarbanes-Oxley and business continuity issues grabbing the headlines, more organisations are implementing integrated electronic document management technologies for reasons of compliance and disaster recovery. With these technologies in place, reliance on paper-based documents is replaced with digital images that cannot be altered, shredded or lost, and in the event of a fire, all business documents can be quickly and easily retrieved from the main accounting system or web browser."