PRESS RELEASE:
NHS Health Service Shared Business Services (NHS SBS) uses Automic to close 300 sets of books in just four hours
SEATTLE–(BUSINESS WIRE)–September 25, 2015–
Automic, a leader in business automation software, today announced that NHS SBS has successfully implemented the Automic Finance Automation Solution to automate and therefore significantly accelerate the month end financial close process for over 300 NHS Trusts and commissioning organisations. Since implementation, their use of automation has resulted in an 80% reduction in penalties for missing critical client KPIs. The use of Automic was initiated to support the 12x business growth of NHS SBS over the last few years.
By working with Automic, NHS SBS is able to deliver month end close processes for over 300 NHS trusts on time, and save 30-40% in financial reconciliation processes. Thorough automated checks ensure monthly payment runs and journal imports are complete. NHS SBS selected Automic for its out-of-the-box templates and seamless integration with the Oracle E-Business Suite. Further to this, through the use of automation, best debt management practice and continuous liaison with clients, NHS SBS is able to ensure there are no large-scale outstanding debts tying up valuable resources time, energy and productivity.
“I am impressed by the depth of functionality available with the Automic Finance Automation Solution,” said Scott Henderson, IT director, NHS SBS. “I believe that manual interaction between people and systems needs to be automated wherever possible. Doing so ensures that processing workloads makes optimal use of available IT resources. More importantly, with Automic we are able to successfully harness the data from our finance systems to provide our clients with customised business intelligence reports that significantly reduce the amount of time the teams spend analysing data while, simultaneously creating a robust foundation for management and operational decision-making.”
Henderson continued, “Looking ahead, now that the month end process has been a success with our Finance teams, we realize that we’ve only uncovered the tip of the iceberg. We’re now starting to look more broadly and we expect Automic will play a key role in supporting us to improve the quality of service that we deliver to clients in many more areas.”
Over 80 individual steps need executing in precise sequence to close the books of each NHS Trust every month. The Automic Finance Automation Solution manages the exchange of data between steps, checks outcomes and reports content before deciding what to do next. If figures don’t reconcile, staff are immediately alerted to investigate and resolve discrepancies.
Having found an automated solution to the month end close challenge, NHS SBS has extended its use of Automic to tackle other issues, such as importing 25,000 invoices into the Oracle environment.
Jon Maury, Vice President of Sales for Northern Europe at Automic, added: “We are thrilled to work with NHS SBS and deliver quality, timely and accurate reporting. Our selection by NHS SBS to automate the entire flow of reporting from multiple sources is testament to the success of the Automic Finance Automation Solution. NHS SBS staff or clients get the reliability and consistency they need to become more efficient and responsive when analyzing financial close reporting. These are crucial factors in a public sector where any errors and delays can have a significant direct impact on the delivery of front line care services. We look forward to extending our relationship with NHS SBS and hope to continue to provide added value to their operations.”
For more information about Automic visit http://automic.com today.
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About Automic
Automic, a leader in business automation, helps enterprises drive competitive advantage by automating their IT and business systems – from on-premise to the Cloud, Big Data and the Internet of Things. With offices worldwide, Automic powers over 2,600 customers including Bosch, Netflix, eBay, AMC Theatres, Silent Night, ExxonMobil, BT Global Services, Société Générale, NHS SBS, General Electric and Swisscom. The company is privately held by EQT. More information can be found at www.automic.com.
About NHS SBS
Established in 2005, NHS SBS is a 50/50 joint venture between the Department of Health and Sopra Steria Limited. The organisation now provides financial services to 100% of all NHS Commissioning organisations and a range of business support services for around 50% of NHS Provider Trusts. NHS SBS provides Finance & Accounting, Employment Services, Procurement and Primary Care Services, NHS SBS currently employs over 1,600 people and process over £170 billion of NHS payments each year and pay 290,000 NHS employees.
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Press
Courtney Glymph, +44 (0) 7584058886
Courtney.glymph@automic.com