TokOpen helps TNT streamline tax reclaim

TNT Logistics UK has streamlined its VAT reclaim process and other financial tasks using Corpora’s TokOpen document management and workflow programme.

TNT Logistics UK has streamlined its VAT reclaim process and other financial tasks using Corpora’s TokOpen document management and workflow programme.

In addition to reducing VAT reclaim timescales, TNT says the system has also enabled more efficient payments to suppliers and helped to improve customer service through more rapid responses to queries.

Using the system, information previously held on paper documents is now scanned and held securely in electronic format to provide easier and more convenient access for all relevant personnel.

Through TokOpen's web access functionality, authorised staff can view documents on-line via a standard web browser from any location.

Areas in which TokOpen has been deployed include accounts payable invoice processing, human resources, payroll and engineering.

Derek Keeble, IT systems design & implementation manager at TNT Logistics UK, said, “Previously, the finance department didn't see an invoice until it physically arrived, so there was no visibility of expenditure.

“With TokOpen, all orders go straight onto the system and are logged. This means that we can claim the VAT back much more quickly - a significant advantage over the previous process,” he said.

Now, all invoice matching is handled on-line, whereas before, a typical invoice could be photocopied 10 times for distribution to authorising personnel.

 

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