New not-for-profit organisation selects Exchequer finance software to control purchasing Thursday 9 July 2015 PDF Print Newport Live, a new not-for-profit organisation has implemented integrated finance and eProcurement software from Advanced Exchequer (Advanced). The hosted solutions will increase visibility and control over purchasing processes across seven local facilities. Newport City Council transferred the management of cultural, sport and leisure facilities to a not-for-profit organisation in order to achieve anticipated efficiency savings of more than £500,000 in business rates and tax benefits. The formation of Newport Live is part of the Council’s strategy to more cost-effectively deliver leisure services to Newport residents. From 1 April 2015 Newport Live assumed responsibility for the Wales National Velodrome, South East Wales Regional Swimming Pool and Tennis Centre, Newport Stadium, Newport Centre, Active Living Centre and the Riverfront Theatre and Arts Centre. Overall, the leisure facilities are frequented by approximately two million visitors each year. As a new company, Newport Live needed to implement separate back-office solutions as they moved away from Newport City Council’s corporate systems. Ian Colbourne, Director of Finance and Resources at Newport Live explains, “We evaluated several suppliers and selected Exchequer for its superior out-of-the-box functionality and affordable licensing. The software’s flexibility, ease of use and hosting capabilities were also ideally suited to us as we can scale up as we require. “The implementation project progressed smoothly and was successfully completed within very short timescales which was vital.” The web-based eProcurement software is used to add new suppliers, track the approval status of purchase order requisitions and confirm receipt of goods ordered. Incoming invoices are automatically matched to purchase orders and electronically routed to relevant staff for authorisation via email, creating a fully streamlined process. The system is able to build hierarchies for approvals and check costs against budgets, providing complete visibility of purchasing commitments. In addition, the integrated finance solution will automate manual accounts receivable processes to improve cash collection efficiency. Data from cash receipts and invoices can be quickly extracted from spreadsheets and be fully audited before being uploaded into Exchequer. Ian Colbourne comments, “The solutions will allow us to retain central visibility of local purchasing decisions without needing to rely on inefficient paper-based procedures. This will help us to maintain tight financial control and ensure that money allocated for improving Newport’s leisure services is spent wisely. “Exchequer’s systems will also significantly increase the finance team’s productivity. We can now raise a new supplier, enter a purchase order and authorise it within half an hour when with other systems this process could take up to a week.” -ENDS- Notes to Editor About Newport Live From 1 April 2015, Newport Live took over the running operations of the Active Living Centre, the Newport Centre, The Riverfront Theatre and Arts Centre and the Newport International Sports Village (NISV). NISV comprises of the Wales National Velodrome, the South East Wales Regional Swimming Pool and Tennis Centre and Newport Stadium. Newport Live is governed by a board of eleven trustees. http://newportlive.co.uk/ About Advanced Exchequer Advanced Exchequer’s multi-award-winning, fully integrated accounting and business software helps organisations improve the way they manage and operate their business, delivering significant time and cost savings by automating everyday tasks. Flexible and easy to use, with powerful functionality built-in throughout, Exchequer supports all aspects of an organisation providing unrivalled analysis, exceptional management reporting and productivity enhancing tools. Exchequer improves customers’ productivity by 47%. Award successes include ‘Financial Software Provider of the Year’ in the Real Finance/CBI FDs’ Excellence Awards, winning more times than any other software provider, ‘Best rated accounting product catering for businesses in the medium range’ in an authoritative survey by the ICAEW, and 100% user recommendation by Charity Finance for three years running. Exchequer is part of Advanced Computer Software Group Limited, a leading supplier of software and IT services to the health, care and business services sectors. In 2014, the Group won Tech Company of the Year in PwC’s UK Tech Awards. Advanced was also ranked in the Deloitte UK Fast 50, which recognises the 50 fastest growing technology companies in the UK and ranked in the top 300 technology companies in Deloitte’s EMEA rankings. http://www.exchequer.com/default.aspx Press contacts Angela Mycock and Ben Carey, Advanced Computer Software Group E: firstname.lastname@example.org T: 01625 856513 This press release was distributed by ResponseSource Press Release Wire on behalf of Advanced in the following categories: Business & Finance, Public Sector, Third Sector & Legal, Computing & Telecoms, for more information visit http://pressreleasewire.responsesource.com/about.