Spend management specialists EGS have announced that the London Borough of Havering has gone live with its Electronic Invoice Management solution, which integrates seamlessly with the council’s Oracle E-Business Suite.
This ground-breaking solution from EGS provides the London Borough of Havering’s Oracle installation with a tran smission funnel to send electronic purchase orders and receive electronic invoices from multiple suppliers in a sta ndard format through a single connection via EGS’s marketplace.
By combining the control and reconciliation capabilities of Oracle E-Business Suite and the powerful electronic procurement functionality of EGS, Havering now enjoys an industry-leading automated purchase-to-pay (P2P) solution . This will reap significant savings and greater process efficiencies, thanks to format-friendly invoice presentme nt, accurate three-way matching and swift workflow authorisation.
The solution was delivered by EGS working in partnership with Patech, one of the UK’s leading Certified Oracle A dvantage Partners. As an integration specialist, Patech has developed adapters that give Oracle users easy access t o the massive eProcurement savings, efficiencies and cost control offered by EGS solutions.
Havering’s Oracle users can now ‘punch out’ from their system to the EGS IDeA:marketplace to purchase goods and services from potentially hundreds of suppliers. The EGS eInvoicing solution then sends electronic invoices that ar e imported directly into the Oracle accounts system securely and automatically.
“The ability to integrate the EGS IDeA:marketplace with Oracle was absolutely critical to us,” said Nigel Jackso n, Senior Procurement Adviser for eProcurement at the London Borough of Havering. “We worked closely with EGS and P atech, using their expertise to integrate our back office systems with eInvoicing so that we will be able to reap s ubstantial savings and efficiencies. The system will also benefit our suppliers – who can be paid faster and will b e able to use the system to check the status of invoices themselves.”
“We are delighted to have worked with London Borough of Havering on this ground-breaking project,” commented Adrian Gibson, EGS’s Business Development Director. “By using our Marketplace to extend the capabilities of Oracle E-Business Suite, we have given the London Borough of Havering the best of both worlds; control with Oracle but powerful eProcurement capability including access to thousands of suppliers electronically and eInvoicing capability.”
With EGS and Patech, organisations can maximise functionality and the return on their investment in the Oracle E-Business Suite. And, for many, the EGS eInvoicing solution is the ‘final link’ in enabling true end-to-end P2P lifecycle management, delivering the biggest payback of all. In fact, one EGS customer expects to save £500,000 per year.
That’s because the solution saves accounts payable teams from spending hundreds of hours re-keying, processing and archiving paper-based invoices. With EGS, the process is streamlined. Invoice numbers, original purchase orders and goods receipts are matched automatically, while the authorisation workflow is accelerated. Ultimately, organisations can enjoy huge savings, greater accounting accuracy and full visibility of every transaction.
For more information, call EGS on 020 7539 2828 or email info@egsgroup.com
For media enquiries please contact media@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.
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