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College Improves Speed of Ordering and Receipting of Goods and Services, Providing Greater Visibility to Comply with Financial Regulations

EGS Ltd, the UK’s largest and fastest growing e-Commerce Exchange for the public sector and its suppliers, today announced that Peterborough Regional College has adopted and deployed EGS’ Unity Exchange for eProcurement, designed specifically for educational institutions.

Since deploying the system, Peterborough Regional College has been able to eliminate the use of manual requisition books as previously used before the new system was deployed. EGS’ Unity Exchange has improved the speed of order placement via the correct approval routing, to comply with financial regulations, so budget holders have greater visibility on purchasing decisions and improved control of overall college spend. It is now being used by 183 users across every department of the college.

Peterborough Regional College decided to move to eProcurement to gain better management insight into what was being spent and streamline internal efficiencies. With the use of paper-based purchase orders only, staff would have to manually complete a paper requisition, which would need budget holder approval, would then need to be taken to Finance for input, printing and signature, then manually sent off to the supplier.

“With an annual budget of £6 million, we wanted to be able to control spend, improve management information and increase the speed of ordering and receipting of goods and services throughout the year,” said Marie Richman, Team Leader, Accounts Payable/Unity administrator at Peterborough Regional College. “We selected EGS due to their expertise in the marketplace and with currently over 1200 suppliers loaded onto Unity, we have been able to cut down on paper-based requisitions, and by allowing sections to use free text orders for goods and services required, the ordering process is considerably speeded up. ”

Designed and managed by EGS specifically for Further Education, Unity provides purchasing services for education bodies in the FE sector. Unity provides a comprehensive procure to pay platform for FE colleges, as well as access to a range of appropriate national and regional framework contracts. Unity is live in a growing number of FE colleges throughout England and Scotland as a result of a pilot project funded by the DfES. EGS continues to work closely with DfES and the Learning and Skills Council to encourage colleges to adopt the benefits of e-procurement.

“Around £5 million of our annual purchases will be pushed through the new system, which equates to 83 per cent of goods and services purchased through Unity, with the total amount of orders processed this year so far standing at 2097,” noted Marie Richman. “By interfacing with our back-end financial systems, CedAR Software eFinancials, we have reaped the rewards of improved efficiency, speed of ordering and full visibility of spend.”

Buyers in the UK public sector raise over 50 million purchase orders per year and suppliers post over 100 million invoices per year. Shared Service e-Commerce environments help dramatically reduce the costs of these processes and underpin collaboration between groups of public sector bodies to get the best from national, regional and local collaboration. There is £100 billion of e-procureable spend in the public sector every year. The combined efficiencies of business process cost savings and e-Procurement cost savings delivered by EGS have the potential to save the public purse well over £1 billion per annum. The solutions also offer major cost savings for suppliers. With almost one million online catalogue items (the largest available), EGS Exchanges also have the potential to reduce the unit price of goods and services by as much as 30 per cent.

About EGS Ltd

Founded in 2000, EGS Ltd is the UK’s leading supplier of e-Commerce Exchanges for the public sector. The company’s Shared Service e-Commerce solutions are used by over 150 public sector buying organisations. EGS operates a series of inter-locking regional and sector focused e-Commerce exchanges, providing services designed to automate and reduce the costs and timescales associated with the procurement to pay lifecycle. The services save considerable time and cost for both buying organisations and suppliers alike. EGS is the biggest and fastest growing e-Commerce Exchange for the UK public sector with more than 50% market share, making it the market leader in its field, and the most successful Exchange of its kind in Europe. With the largest Shared Services customer base, EGS has 150 public buying organisations linking with 30,000 of their chosen supplies and the main contracts from Public Purchasing Consortia. Electronic purchasing is taking off. EGS has seen a 500% growth in the use of its services in past two years alone, and expects the trend to continue.

For further information, please contact:

Kim Squire
Devonshire Marketing
Tel: 0870 7000 166

This press release was distributed by ResponseSource Press Release Wire on behalf of Devonshire Marketing in the following categories: Computing & Telecoms, for more information visit http://pressreleasewire.responsesource.com/about.