University Hospitals Bristol NHS Foundation Trust (UHBristol) has implemented a financial management system (FMS) with integrated business intelligence functionality from COA Solutions, an Advanced Computer Software Plc company. The system went live in April 2010 with the second phase of the project, involving the implementation of integrated electronic document imaging, invoice data capture and workflow software, to follow in the near future.
COA Solutions’ FMS, which is tightly integrated into UHBristol’s existing COA Solutions electronic procurement system, EROS, is ensuring that an accurate and real-time view of its finances is maintained. This financial transparency and the expected improvements in process efficiency from the second phase of the project will prove key to UHBristol moving forward because, like all NHS organisations, it is tasked with delivering cost reductions in order to help secure 15 to 20 billion NHS savings by 2014.
UHBristol’s previous finance systems, predominantly locally developed applications, although serving the Trust well, were clearly falling behind the latest, functionality-rich software systems and were at risk of becoming unsupported in the short to medium term. To ensure the Trust continued to operate effectively and efficiently as a NHS Foundation Trust, the decision was taken to replace its general ledger, accounts receivable and accounts payable applications with an integrated suite of financials.
Chris Noble, Financial Systems and Process Analyst at UHBristol, says, “We knew that there were better systems on the market which could deliver the improved reporting and process efficiencies we were seeking. We needed to select the best of these from a supplier with whom the Trust could confidently move forward.”
UHBristol selected COA Solutions after the company came out on top following a rigorous tendering and evaluation process through the Official Journal of the European Union (OJEU).
Chris comments, “COA Solutions’ offering was the only response received which appeared to offer truly ‘real time’ operations and the level of advanced, yet intuitive and user friendly functionality we required.”
Chris adds, “COA Solutions’ extensive NHS customer base, strong reputation and sound strategic links with other key suppliers, together with our already successful use of its electronic procurement system, gave us real confidence that this was a supplier with whom we could successfully work.”
COA Solutions’ FMS is streamlining UHBristol’s financial reporting. By using the integrated [business intelligence solution|http://www.coasolutions.com/business-intelligence-software.p..., SAP BusinessObjects, key financial information can be easily extracted from the FMS and interrogated at will.
Chris comments, “COA Solutions’ FMS is providing us with the opportunity to greatly enhance reporting and forecasting. A comprehensive review of our reporting strategy, to ensure that we grasp the full benefits of the integrated business intelligence solution is in progress. With an in-depth, real time, understanding of our financial position readily to hand, we will be able to respond in a timelier manner to fluctuating external and internal influences, which is key for us as a Foundation Trust in these challenging economic times.”
Using the integrated data capture and document imaging functionality (which incorporates Version One’s technology), over 150,000 purchase invoices received by UHBristol every year will be scanned and the data on the invoices automatically captured and verified before being uploaded to the finance system. All imaged invoices will then be electronically stored and those requiring authorisation automatically routed to the appropriate members of staff for approval, significantly improving purchase-to-pay process efficiency.
Chris adds, “The added document imaging, data capture and workflow functionality will significantly improve the quality of information available to users and invoice processing efficiency, helping us to quickly identify blockages in our purchase-to-pay process and further improve payment performance. Manual data entry and hence data entry errors will also be reduced, as will the need for document storage space.”
About University Hospitals Bristol NHS Foundation Trust
University Hospitals Bristol NHS Foundation Trust is a dynamic and thriving group of hospitals in the heart of Bristol, a vibrant and culturally diverse city.
Its 7,900 staff offer over 100 different clinical services across eight different sites. With services from the neonatal intensive care unit to care of the elderly, University Hospitals Bristol offer care to the people of Bristol and the South West from the very beginning of life to its later stages. It is one of the country's largest acute NHS Trusts with a 2009/2010 income of £486 million.
University Hospitals Bristol staff have developed leading edge services such as cardiac surgery and bone marrow transplantation that have built an international reputation and are in demand by patients from across the country. With strong links to the University of Bristol and University of West of England, University Hospitals Bristol is the major medical research centre in the region. The findings allow it to continually improve its patient care.
About COA Solutions www.coasolutions.com
COA Solutions, an Advanced Computer Software Plc company, 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. COA Solutions also provides managed and bureau service options. Its systems and services 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 supports and services 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 Advanced Computer Software Plc
Advanced Computer Software Plc (Advanced) is the leading supplier of software and IT services to the health, care and commercial sectors with a primary focus on delivering high quality products and services to enable first class delivery of care in the community. Advanced's portfolio for the health and care sector includes IT management and analytics systems for out-of-hospital applications covering urgent and unplanned care, district nursing, hospices, residential care homes, telehealth, end-of-life and long-term-condition management; as well as mobile information systems for community carers.
Advanced additionally delivers back-office systems for NHS trusts, local authorities and care providers and is further strengthening its position in the health checks and pharmacy services markets. Working with partners in the NHS, local government and the private sector, Advanced delivers IT in support of safe and efficient care delivery and greater information for both the commissioner and care provider. The company's unique proposition is the breadth of integrated health and care solutions from patient-facing IT systems through to back-end operational systems and services.
Advanced is also a leading supplier of software and IT services to the commercial sector. This part of the business underpins growth whilst providing opportunities for cross-marketing of products and IT services.
Liz Ebbrell, COA Solutions
+44(0)1625 856505 or 07917 634 705
Ben Carey, COA Solutions
+44 (0)1625 856505
This press release was distributed by ResponseSource Press Release Wire on behalf of Advanced in the following categories: Health, Business & Finance, for more information visit https://pressreleasewire.responsesource.com/about.