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Savings form part of £2.1m cost reduction initiative

17 June 2013 – Hertsmere Borough Council has reported savings of £122,000 per annum as a result of implementing financial management system, eFinancials, from Advanced Business Solutions (Advanced). These savings represent 16.2% of Hertsmere’s departmental net budget.

Over the past few years, the council has led an efficiency and cost reduction programme which has identified over £2.1m per annum cashable savings in its revenue budget (15% of net budget). In order to realise some of these savings, the finance department decided to modernise and transform its systems and processes.

Sajida Bijle, Director of Resources at Hertsmere Borough Council, said: “We wanted to improve and streamline our systems and processes and make efficiency savings.”

After a procurement process Advanced’s eFinancials finance system with integrated electronic procurement, document management, budgeting and forecasting and business intelligence functionality was chosen. As a result manually-intensive paper and spreadsheet-based budgeting has been swapped for online processes.

Budget holders now have comprehensive and real-time access to budgetary information rather than having to rely on the finance team to provide relevant information as and when required. Also, invoices that arrive into the council are imaged, authorised and processed electronically, cutting paper use and resulting in faster supplier invoice payments. More than 99% of supplier invoices are now paid within 30 days.

Since going live with the software in April 2011, it has transformed the council’s finance processes and has resulted in total savings of £122,000 per annum.

Sajida added: “The cost savings we have so far achieved equate to 16.2% of our departmental net budget, contributing towards the council’s overall £2.1 million per annum cost reduction initiative. We now have a detailed and holistic view of budgets so that we can analyse which department is spending the most, which is spending the least and why. With this information at our fingertips, we have much greater control over spend.”

The improvements also support the council’s environmental agenda: more than 10,000 purchase invoices received each year are now processed electronically, cutting paper-based invoice processing.


-ENDS-

Notes to Editor:

About Hertsmere Borough Council

Hertsmere Borough Council is a borough authority based in south-Herts, delivering services to 100,000 residents in the Aldenham, Bushey, Borehamwood, Elstree, Radlett and Potters Bar areas.

About Advanced Business Solutions www.advancedcomputersoftware.com/abs
Advanced Business Solutions (Advanced) provides leading integrated business applications and services that enable public, private and third sector organisations to retain control, improve visibility and gain efficiencies whilst continually improving corporate performance. Advanced prides itself on getting close to its customers by understanding their businesses and responding to their evolving needs.

Advanced’s software systems comprise core accounting/financial management, procurement, supply chain management, human resource and payroll systems, integrated with a range of collaborative, document management and business intelligence solutions to extend the value and effectiveness of the finance, human resource and payroll departments. Management information systems for school and academies are also provided through Advanced’s subsidiary, Advanced Learning. All solutions can be delivered as a managed or bureau service.

Customers are from both the public and private sectors and include Companies House, Newcastle City Council, NHSScotland, Norfolk Constabulary, Edge Hill University, WH Smith, Royal Bank of Scotland, Aer Lingus, National Express Group, DFS and RSPB.
Advanced Business Solutions is a division of Advanced Computer Software Group plc, a leading supplier of software and IT services to the health, care and business services sectors.

Press contact:

Angela Mycock
Advanced Computer Software Group plc
T: +44(0)1625 856 513
PR@advancedcomputersoftware.com
www.advancedcomputersoftware.com

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 https://pressreleasewire.responsesource.com/about.