COA Solutions (formerly CedarOpenAccounts) has won a £750,000 contract to supply Virgin Trains with an integrated financial management system comprising a comprehensive portfolio of financial, procurement, forecasting and document management solutions. COA Solutions’ system, which will be made available to 250 Virgin Trains staff across the UK, is expected to go-live in September 2008.
Virgin Trains required an integrated financial management system to replace its outdated accounting solution. Virgin needed the system to provide improved financial control, increased business efficiency and better forecasting. Following a competitive tender, Virgin Trains chose a system from COA Solutions comprising an OpenAccounts accounting system, an eBis web system for online procurement, a Collaborative Planning tool for budgeting and forecasting and Version One’s electronic document storage solution.
Andy Cross, Business Support Director for Virgin Trains, comments, “As a service driven company it’s imperative that we deliver the very best levels of service in every area of our business. This includes ensuring our business processes operate as efficiently as possible and are supported by market-leading systems. Our previous accounting system hadn’t been updated for several years and we didn’t require all of its complex functionality and so we decided to seek a new system that would be able to meet all of our needs going forward.”
Cross continues, “COA Solutions fully understands the needs of transport organisations and as such, the software exactly meets our requirements. The COA Solutions system will replace time-consuming manual-based financial processes with automated procedures which will save staff time and enable them to carry-out more value-adding activities. Purchase-to-pay efficiency will also be improved, allowing us to pay our suppliers in a timelier manner.”
The new system will cut costs across the business and will provide Virgin Trains with improved financial control as well as greater compliance with its procurement contracts. In addition, it will allow the company to electronically store and retrieve documents from the desktop and more easily create and monitor financial plans and forecasts.
Cross adds, “Looking ahead, we look forward to evaluating the system’s HR and recruitment functionality as this could allow us to further improve our business processes and ultimately deliver an even better service to our staff, customers and suppliers.”
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About Virgin Trains www.virgintrains.co.uk and www.virgintrainsmediaroom.com
Virgin is one of the most successful and well-known brands in the UK, with a reputation built on attention to detail and outstanding customer focus. In 1996 Virgin Trains won the CrossCountry and West Coast franchises and, the following year, the famous Virgin flair hit the railways. A truly national network, Virgin Trains is a £540 million turnover business and covers vast areas of Britain. London Euston is the gateway to the 401 mile-long West Coast Main Line, with services to Birmingham, Liverpool, Manchester, Preston, North Wales and Glasgow. Virgin Trains carries over 20 million passengers per year and serves 44 stations.
About COA Solutions Ltd www.coasolutions.com
COA Solutions (formerly CedarOpenAccounts) is the UK’s leading supplier of integrated business management and information systems to public, private and not-for-profit organisations in the service sector. COA Solutions prides itself on getting close to its customers by understanding their businesses and responding to their business needs.
COA Solutions’ award-winning Smart Business Suite combines core financial management, procurement, human resource and payroll systems, integrated with a range of collaborative, document management and business intelligence solutions. These solutions extend the value and effectiveness of the finance, HR and payroll departments across the organisation and enable managers in the business to monitor, analyse and continually improve corporate performance.
COA Solutions has more than 500 experienced and professional staff supporting and servicing over 4,000 clients across the UK service sector including Companies House, Newcastle City Council, WHSmith, Royal Bank of Scotland, Aer Lingus, National Express Group, DFS, RSPB and Great Ormond Street Hospital for Children NHS Trust.
About Version One www.versionone.co.uk
Version One Ltd (a subsidiary of COA Solutions) is the author of electronic document management and imaging software. These solutions enable the automated electronic storage, retrieval, management, enhancement and document 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 thousands of organisations to save dramatic amounts of time and money.
COA Solutions and Version One
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