EGS, the UK leader in spend management, is delighted to announce the award of a five-year managed services contract with Tower Hamlets Council to deliver electronic procurement and automated invoice processing services. EGS is expected to deliver more than £750,000 in efficiency savings.
The contract, one of the largest in EGS’s history, will provide a purchase-to-pay (P2P) solution for Tower Hamlets within just three months.
This will feature the EGS full purchase-to-pay suite of services, plus a full complement of EGS Professional Services that include consultancy, supplier adoption, electronic invoice management and on-site project management. EGS will also support the interfacing of the P2P application with the council’s Oracle JD Edwards financial system.
“The contract was awarded to EGS after a full European Union tender process and a rigorous evaluation of five competing propositions,” explains Richard Parsons, Head of Procurement & Programmes at Tower Hamlets Council. “After analysing specifications, hearing supplier presentations and making site visits, we identified that EGS had the most economically advantageous solution.”
The phased launch will start in December with the council’s Resources directorate, with all other users added by April 2010. The project is being managed by EGS in partnership with the council’s dedicated delivery team.
Badged by the council as Requisition to Pay (R2P), the solution will become the trading platform for up to 100,000 purchases transactions per year and is expected to deliver major efficiency savings. It will also provide essential management information and support the delivery of key council strategies.
“The R2P solution will contribute towards the council’s aim to develop ‘One Tower Hamlets’ and will establish a single, consistent cross-Council process for obtaining goods and services, in the most efficient manner,” says Nick Coldicott, R2P Project Manager at Tower Hamlets Council.
“We will also receive improved management information about our spending, so we can enhance procurement, achieve savings, engage more fully with a diverse range of local suppliers and provide them with prompt payments. We’ll also collaborate with other buying organisations via the eMarketplace through shared contracts that offer best value.”
EGS’s Chief Executive, Peter Whent, commented: “This contract shows that it’s possible to introduce a business-transforming project within months when you have a proven solution with the right processes and an experienced team. With our solution, Tower Hamlets will start realising savings in months.
“The P2P solution will provide Tower Hamlets Council with a consistent and efficient procurement process and invoice management solution that saves money and generates valuable information for strategic decision-making. With EGS, Tower Hamlets will have a complete end-to-end view of the procurement lifecycle.”
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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