eFinancials

Finance Management System

eFinancials

Financial management software

With current focus on reducing spend across the NHS and the wider public sector, organisations are entering into Shared Services schemes and are looking out for a flexible, scalable financial management solution to help maximise investment and reduce time spent on manual processes.

Developed and supported in the UK, our portfolio of solutions comprises core financial management and procurement, integrated document management, corporate performance management and business analytics. We’re currently working with leading NHS Trusts to help implement the Future Focused Finance vision.

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Benefits

Flexible financial management

Scalable, configurable and easily tailored to your requirements.

Streamlined procurement process

Devolved users can easily place orders, while management retains oversight.

State-of-the-art reporting

Tailored reporting capabilities, to meet stakeholder requirements.

Business analytics and intelligence

Dashboards and visualisation capabilities allow improved business intelligence.

Improved collaboration

Secure document sharing to ease data sharing between teams.

Cost reduction

Smoother back-office operations improve collaboration, reduce workload and help decrease overall cost.

Key Modules

Debt Manager

Debt Manager is a module for eFinancials which facilitates the chasing after customer debt. It gives your credit controllers everything they need in one place in order to help them do their job successfully. Debt Manager consolidates all the various areas of the finance system for outstanding debt into one simple to work with user interface.

Debt Manager enables users to focus on outstanding debt and supporting information by recording debtor promises, managing disputes, and reviewing instalment plans. The module provides graphical Key Performance Indicators summarising and analysing the debt in a number of different ways to give greater insight into current issues allowing the credit controller to focus on resolving them.

Purchase Invoice Management

Our Purchase Invoice Management module boasts a significantly enhanced processing time for purchase invoices, meaning they are posted and paid faster and smarter than ever before. In doing so, the module empowers customers
to meet their prompt payment targets with greater ease, reducing pressures and boosting efficiency.

Combined with our Advanced Cloud Invoicing solution, you can benefit even further, with the automated loading and routing of supplier invoices to approvers for greater efficiency savings.

eProcurement

The eProcurement module has been specifically designed with the flexibility to facilitate differing ways in which an organisation procures goods and services whilst providing a streamlined and automated procurement and authorisation process, negating bottlenecks through raising and sending orders, receipting goods/services and receiving and processing of invoices.

How can it help you?

Integrated back-office solutions

The growing needs of NHS and public sector organisations have led us to enhance and develop a wide range of integrated back-office solutions, for at-a-glance, real-time financial management oversight.

Seamless monitoring and information sharing

Finance and non-finance staff can use our solution for collaborative planning to seamlessly monitor the budgeting, planning and forecasting process, enhancing visibility across the organisation. The ease of information sharing means key financial processes are optimised, with timescales and costs significantly reduced. Additionally, smart, intuitive reporting tools allow performance to be monitored and key insight to be shared with stakeholders, for more efficient back-office working practices.

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A suite of fully integrated components

eFinancials offers a highly practical solution because it consists of a suite of fully integrated component modules including:

Accounts payable, accounts receivable, asset management, corporate reporting, general ledger, Air Approvals, health sector budgeting, inter department trading, proposed projects, recurring billing, recurring charges, requisitioning/purchase order processing, stock management, system management and web chart of accounts

Some of our Customers:

As a corporate partner of the Healthcare Financial Management Association (HFMA), we work with key NHS bodies to help implement Shared Services initiatives in line with the Sustainability and Transformation Plans (STP) agenda. We're also a Crown Commercial Supplier and we believe our affiliation with these organisations helps us promote business partnering and excellence through efficient processes and systems.

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"One of our provisos was that this had to be as near real-time as it could possibly be… When we had that in place and started running reports, we were amazed at how quickly the actual reports were running, we were getting performance improvements on average of around 10 to 50 times better and in some instances 500 times better - which far exceeded our expectations. This in turn was an enabler to allow further development of reports providing more informed analysis - previously we would not have attempted this due to the length of time taken to run reports."

"By outsourcing our financial accounting, AP and AR processes to ELFS and moving to an Advanced managed finance system, we expect to save at least £200,000 per year. These savings are key if we’re to meet our tough cost-cutting targets."

"We can now procure goods and services more efficiently than ever before and have much greater control over procurement, whilst being smarter about what we procure and from whom. This has allowed us to more tightly manage costs. At a time when public sector budgets are under increasing scrutiny, effectively managing our spend is key."

"Advanced has an excellent reputation across the sector and having multiple products from the same supplier means that our IT systems are more integrated, which saves us considerable amounts of time and therefore money."

Read how we partner with some of our customers

"With Advanced fully managing our system, this has removed the associated risks of us having to manage it ourselves. We are also enjoying ready access to the Advanced team which is especially reassuring."

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