Hospital trust to cut costs with finance management system

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Hospital trust to cut costs with finance management system

Kathleen Hall

University Hospitals Bristol NHS Foundation Trust (UHBristol) has implemented a financial management system from COA Solutions in an effort to make efficiency savings.

The system is intended to help UHBristol maintain an up-to-date account of its finances, with the 150,000 purchase invoices it receives a year to be processed through the financial management system.

The COA Solutions product uses SAP Businessobjects to extract and analyse the trust's financial data. It provides integrated data capture and document imaging based on Version One's automatic document scanning, recognition, archiving and retrieval technology.

UHBristol plans to scan the purchase invoices using the system. This data will be automatically captured and verified before being uploaded to the finance system. Invoices will then be stored electronically and those requiring authorisation will be automatically routed for approval.

According to the trust, the system will improve the efficiency of the purchase-to-pay process.

"The added document imaging, data capture and workflow functionality will significantly improve the quality of information available to users, helping us to further improve payment performance. Data entry errors will also be reduced, as will the need for document storage space," said Chris Noble, process analyst at UHBristol.

Visibility of spending is a top priority for the NHS. Like all NHS organisations, UHBristol is tasked with delivering cost reductions to help secure £15bn to £20bn of savings across the health service by 2014.

 


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