EGS, the leader in electronic procurement and invoicing, is delighted to announce that Nuneaton & Bedworth Borough Council has selected the IDeA:marketplace purchase-to-pay (P2P) solution to transform the way it purchases from suppliers and processes thousands of invoices annually.
The council, which procures goods and services worth around £20 million annually, is now looking forward to savings estimated at £3.5million over five years. The web-based solution from EGS will integrate seamlessly with its Agresso finance system and includes electronic invoicing and commitment accounting.
Nuneaton & Bedworth chose EGS after completing its own rigorous evaluation, identifying its requirements, spotting potential savings and analysing the range of solutions available.
"We required a web-based P2P system that our 200-plus users will want to use," explains John Hackett, Business Analyst on the council's Transformation Team and e-Procurement Project Manager. "With EGS, we found a solution that’s as intuitive as shopping online with Tesco or Amazon – so our users will find it attractive and easy to use."
The EGS solution will also provide the council with enterprise-class controls and re-enforce procurement procedures, replacing the current mixture of electronic and paper-based ordering. "The marketplace will strengthen compliance and enable us to see the big picture on spending, so we can make better-informed decisions," adds John Hackett.
The council expects major efficiency savings will be achieved through faster purchasing, better use of open contracts and a reduction in maverick spending. Meanwhile, automated electronic invoicing will replace the manual re-keying of supplier invoices.
"This technology will help the Council improve the process and governance of procurement and in addition will enable internal and external aggregation and collaboration. Naturally this will provide opportunities for price reductions and support the Council's drive to deliver Best Value," says Steve Ryder, Strategic Procurement & Creditors Manager at the council.
Local suppliers will benefit too, supporting the SME Concordat. The payment process will be fast and, potentially, could give them access to new sales from other EGS customers that use the IDeA:marketplace.
"We wanted a proven solution from an established supplier with existing catalogue content and suppliers which will enable a quicker return on investment," explains Steve Ryder. "EGS has compelling references and could meet our detailed specification. In addition, with a Framework Agreement in place already, we didn’t need to go to full tender - but can press ahead with the project."
"We are delighted that after a thorough evaluation of the market, Nuneaton & Bedworth has selected EGS," said Peter Whent, Chief Executive of EGS. "This is an endorsement of the quality of solution that we provide to a growing range of customers in both the public and private sector. Through reference to other customers, we were able to illustrate to the council that the savings that our service promises, are truly delivered through effective implementation and deployment of our solution."
The new system is expected to go live at the start of 2010, following installation and a phased adoption of suppliers.
For more information, call EGS on 020 7539 2828 or email info@egsgroup.com
About EGS
EGS provides solutions to manage and control corporate spending by automating and streamlining the entire purchase-to-pay lifecycle. Our Spend Management solutions give you control, save you money and equip your executive team with the best information to make the right decisions. More than 40,000 users across 150 organisations in the public and commercial sectors employ EGS solutions and save millions of pounds. This year over one million transactions, worth £1 billion of corporate purchasing, will be completed using EGS.
For media enquiries please contact media@egsgroup.com
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