The NHS SBS Finance and Accounting services enable clients to benefit from increased levels of control and improved decision making through detailed, accurate and timely management information
Procure to Pay (P2P) and eProcurement provide a comprehensive service that includes raising electronic requisitions, the generation and despatch of purchase orders and invoice payment.
P2P is an innovative service built on the skills and experiences of our team that offers more than simply an invoice processing system. For example, our service includes an out of office function and escalation process to prevent delays. By applying leading edge thinking, processes, technology and best practice we deliver value across the NHS through:
- online purchasing from national, regional and local catalogues
- integrated solutions to NHS Supply Chain and other systems
- reduced carbon footprint through paperless transaction processing
- building on the experience of a system used by over 20% of the NHS
e-Procurement provides intelligent information, procurement dashboard, analysis and modelling tools and price comparator reports that deliver significant benefits, including:
- a simple, easy to use web-retail style catalogue based shopping interface with goods ordered in 3 clicks
- automatic email notifications for approvals
- reduction in time between requisitioning goods or services and PO being despatched to suppliers
- requisitions forwarded online with a reminder after 3 days
- approvals which are predefined by the client, to ensure the right person is contacted first time
- no need to print and store requisitions
By supporting smarter buying initiatives across the NHS including Collaborative Procurement Hubs, NHS Supply Chain and PASA through shared catalogues, we allow clients to maximise the budgets and resources they use to buy goods and services.
Easier to use, faster and more efficient than a traditional paper-based system, eProcurement is also more accurate in terms of data capture and automates processing, reminders and other administrative tasks.
As a paperless system, NHS SBS eProcurement also helps NHS organisations meet their commitments to reduce energy use, and will be further developed to meet statutory obligations on reporting carbon footprint reduction.
General Ledger & Financial Accounting
This includes the provision of financial ledger, maintenance of a standard interface gateway into the general ledger and the full integration of the sub and general ledgers. Our expert Financial Accounts team is able to carry out agreed control account reconciliations and we use and host the National Chart of Accounts. Flexible month and Year End closing, with system generated Non PO and GRNI accruals reporting and uploading of interface files are also included.
Cash Management & Treasury
NHS SBS improves our clients’ cash positions. We provide management of banking operations, for both OPG and commercial banking, including reconciled daily cashbook balance, control account reconciliations, management of payment runs, cash receipting and allocation and short term cash flow forecasting. A strong partnership approach ensures our clients stay in control with treasury management participation reviewed and agreed annually with each organisation.
VAT Services
NHS SBS provides expert specialist advice on all aspects of VAT and assistance with the production of VAT returns through timely VAT checking (i.e. daily or monthly, not as a backend audit).
We provide a comprehensive range of standard VAT services as well as optional, added value services that can be commissioned on an ad hoc basis.
We have been able to achieve substantial savings of around £8m per month in VAT recovered on behalf of client Trusts. This amounts to more than £100 million so far in the last year and we expect this to increase as we continue to automate our processes.
Accounts Receivable
NHS SBS provides a highly effective debt management service. Our experienced credit controllers positively improve cash flow by reducing sales outstanding, minimising exposure to bad debts and providing a dedicated sales invoicing team. Letters, statements, query resolution, outstanding balances, debt chasing and write off are all part of our comprehensive solution.
Our highly skilled people have been able to reduce inherited aged debt from £80m to £20m since May 2008.
The NHS SBS F&A service currently works with 45 Primary Care Trusts, 7 Strategic Health Authorities, 37 Acute, Mental Health and Ambulance Trusts and 7 Arms Length Bodies. For more details on NHS SBS clients please contact us.