Basware introduction to G-Cloud 6 means the sky’s the limit for public sector organisations
Tuesday, 17 Mar 2015
Public sector organisations in the UK process millions of payments each year, representing a significant allocation of public resources. With an annual spending budget of almost three quarters of a trillion pounds, the UK government’s direct influence on the wider economy is substantial.
Head of UK E-invoicing Centre of Excellence
Public sector organisations in the UK process millions of payments each year, representing a significant allocation of public resources. With an annual spending budget of almost three quarters of a trillion pounds, the UK government’s direct influence on the wider economy is substantial. With efficiency gains in back office operations, a significant amount of this expenditure could be freed up and injected back into the economy, according to MP Stephen McPartland.
“A recent parliamentary inquiry found that electronic invoicing could save the public sector and its suppliers at least £2 billion per year,” he said. “These savings could then be fed directly back into the economy, to protect frontline jobs and improve services.”
G-Cloud was established in 2012 as an initiative targeted at easing procurement by public sector bodies in departments of UK Government departments. In setting up this framework, public sector organisations are now able to purchase cloud services without having to resort to full-length tender processes. On the supplier side, software providers such as Basware offer specific services for public sector bodies to purchase at the specific price displayed. This provides a degree of certainty for both parties in a centralised marketplace that is tightly regulated.
In order to be accepted on to the G-Cloud Framework, Basware solutions were submitted for approval against a strict set of evaluation criteria and assurance checks. Having completed the assessment process, solutions for e-invoicing and e-ordering, outbound council rate demands, and Basware’s complete InvoiceReady capture and accounts payable solutions are now available via the G-Cloud.
But what does this all mean? Ultimately, public sector bodies of all sizes now have simple, direct access to our e-invoicing and payment automation solutions. This will empower government organisations to hit prompt payment targets, resulting in better cashflow for the public sector, and releasing working capital back into the economy.
With the benefit of operating more efficiently by automating the accounts payable process, time and money is freed up and available to be invested in frontline services. Nurses, policemen and local council workers will be able to spend more time servicing civilians, rather than manually processing data and producing reports.
Where automation has fast become ‘business as usual’ in the private sector, we have already seen how great technology can truly change the way we work. With e-invoicing being mandated across the UK from 2016, local government needs to take action now. Basware’s cloud-based financial solutions will make it easy for public sector bodies to make the switch, unlock value, and stimulate economic growth.