NHS Trust improves financial accuracy
E-financials improves efficiency and cuts cost
Pembrokeshire and Derwen NHS Trust is using procurement and financial software to improve efficiency and accuracy of its data.
The implementation of e-financial and e-procurement modules from CedarOpenAccounts is building on the existing web-enabled financial system used integrate the finance functions following the merger forming the combined trust in 1997.
On average, monthly budget reports are now available ten days earlier than in the past, enabling decisions about financial management to be made promptly.
The e-financial module now manages the trust’s entire accounting process and has improved the accuracy and timeliness of financial information, says trust assistance finance director Richard Bowmer.
‘Take reporting, for instance - by sending reports electronically, we cut paper out of the process and save money as well as getting information more quickly to those that need it,' said Bowmer.
The project also included archiving software for document imaging, integrated into the e-financial system, to allow it to link with the NHS Electronic Staff Record in the future.
The imaging solution also allows invoices to be scanned and located more quickly than the paper-based process.
‘One of our key financial targets is to pay 95 per cent of invoices within thirty days,’ said Bowmer. ‘In the past, we struggled to meet this target, but our performance has improved a lot since we implemented e-financials.’
What do you think? Email us at [email protected]
Further reading
Care trust looks to IP technology