EGS is pleased to announce that another three universities have selected its market-leading electronic marketplace for higher education. More universities are expected to follow soon, reflecting a surge of interest in Parabilis.
Arising from three separate contracts, Brunel University, Thames Valley University and Royal Holloway, University of London, are each on course to go ‘live’ with Parabilis by the end of the year with phased implementations. They join over a dozen other institutions.
The news further underlines the position of Parabilis as the natural solution of choice for higher education institutions that want to transform their procurement and invoicing, achieve dramatic cost savings and strengthen compliance.
Currently, all three universities use manual ordering systems for their procurement. But EGS will replace these with highly-automated solutions. Each university will benefit from an end-to-end, purchase-to-pay (P2P) system, complete with electronic invoicing (e-invoicing).
Parabilis is web-based, so budget-holders at each university will enjoy 24/7 access to their suppliers of all types from a single screen. They can then purchase from multiple suppliers at one time - using a single shopping basket - with a single click. The solution will help to minimise costly maverick spending, while increasing purchasing from best-value, authorised contracts.
Suppliers are then able to submit their invoices electronically through Parabilis, enabling paper-free processing by the universities. This will greatly accelerate the process, while minimising errors and queries, as invoice details no longer need to be added manually.
EGS's solution will be integrated directly into the Symmetry bluQube finance system used by each of the universities. Parabilis will also give decision-makers a clearer picture of university spending, providing valuable information for strategic contract negotiations.
Commenting on the news, Peter Whent, Chief Executive at EGS, said: “We are delighted that these three universities have chosen Parabilis and EGS. This further underlines the position and reputation of Parabilis as the market leader for higher education. Parabilis is the only e-marketplace solution available immediately under a framework contract (SUPC) which is one of the reasons why more universities now use Parabilis than any other solution.”
About EGS
EGS leads the way in web-based business process automation so the public sector and commercial enterprises can achieve dramatic back-office savings. Our innovative solutions automate and accelerate costly processes, including purchasing, invoice approval, accounts receivable and sourcing. More than 40,000 users across 150 organisations employ EGS solutions and save millions of pounds. This year over one million transactions, worth over £1.5 billion of corporate purchasing, will be completed using EGS. Discover more at www.egsgroup.com
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