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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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.

Our partnerships

We’re a corporate partner of the Healthcare Financial Management Association (HFMA), and we’re working with key NHS bodies to help implement Shared Services initiatives in line with the Sustainability and Transformation Plans (STP) agenda. We are 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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Benefits

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Flexible financial management

Scalable, configurable and easily tailored to your requirements

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Streamlined procurement process

Devolved users can easily place orders, while management retains oversight

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Improved collaboration

Secure document sharing to ease data sharing between teams

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State-of-the-art reporting

Tailored or out-of-the-box reporting capabilities, to meet stakeholder requirements

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Business analytics and intelligence

Full dashboards and visualisation capabilities allow improved business intelligence

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Cost reduction

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

Key features

Our teams have been working closely with partners across the NHS and public sector, and bring their expertise and understanding to the development of our solutions.

Our Financial Management System (FMS) combines core financial processing, procurement, planning, forecasting, budgeting, management reporting and analytics functionality – all on a scalable basis, to help ensure best-fit for organisations of all sizes. Deployment options include both Managed Services and Shared Services, helping you to meet your finance initiatives.

Finance Process Manager (FPM)

FPM allows non-core users of the finance system to initiate financial transactions and workflow them for approval – this releases finance staff from day-to-day administration tasks.

Corporate Performance Management (CPM)

With standard reports built in, users have the capability to create customised dashboards and report packs, helping you to provide fast, up-to-date intelligence to your stakeholders.

eProcurement

Streamline and automate procurement and authorisations. This reduces delays caused by bottlenecks of raised and sent orders, purchase invoice management and goods and services receipts, allowing you to hit payment targets. Our application also enables you to devolve the procurement process to end-users while maintaining critical oversight and control.

"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."
Colin White, National Finance Systems Manager, NHS Scotland
"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."
Amanda Cant, Deputy Director of Finance, London Ambulance Service
"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."
Richard Parker, Head of Financial Accounts, George Eliot Hospital NHS Trust
"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."
Marc Jordan, Assistant Principal, College of North West London

Read how we partner with some of our customers

Advanced Client Logos George eliot hospital nhs
"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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Advanced Client Logos cla
"Advanced has successfully built a really strong, resilient and flexible platform that offers versatility and scope for many years to come."
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Advanced Client Logos tideway
"Having a flexible and reliable platform allows us to create a long term IT strategy leading up to and after the completion of the tunnel."
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