PRESS RELEASE
QCA Meets Efficiency Targets with COA Solutions Finance System
1st May, 2007 - An enhanced financial management solution from COA Solutions (Now Advanced Business Solutions) has played a key role in enabling the Qualifications and Curriculum Authority to meet government efficiency targets. At the same time, the solution enables the finance function to focus on supporting the business rather than on processing data.
The imposition of efficiency targets by central government has led many public-sector organisations in the UK to review their internal processes. The Qualifications and Curriculum Authority (QCA), a non-departmental public body sponsored by the Department for Education and Skills (DfES), is one such organisation. The main role of QCA is to maintain and develop the national curriculum for education and training in England, together with associated assessments, tests and examinations. It also accredits and monitors qualifications in colleges and at work.
To help meet its efficiency targets, QCA decided to modernise its financial management system. By doing this, it hoped not only to save money but also to enable the finance department to become more proactive in supporting the business. One of the first decisions to be made was whether or not to replace the existing financial system. QCA had successfully used the COA financial management solution since 1998, but the continued use of this solution was now reviewed.
“It soon became clear that COA Solutions could supply us with everything we needed to streamline and automate our processes, and to align them more closely with the business,” said Darryl Nunn, head of finance at QCA. “We therefore decided to keep our existing system but to enhance it and introduce new technologies such as web applications and electronic workflow.”
Faster processes
The first step was for QCA to devise a new chart of accounts and implement the COA Solutions project accounting module. This enabled costs to be recorded and analysed by project rather than cost centre, thus reflecting the terminology used by the business. Reporting capabilities were also redesigned to align with the pattern of actual expenditure by project, programme and division.
The new accounting structure provided a foundation for the implementation of eFinance and eBIS Workflow, which provide web-based platform for managing the complete purchase-to-pay process. Instead of circulating paper-based documents in the internal mail, QCA now relies on electronic workflow, with supplier invoices being scanned into the system.
The implementation was carried out by an internal project team, with support from a COA project manager. The system now has 400 users at QCA’s London headquarters. These users include managers and senior executives as well as financial and administrative staff, all making use of eFinance and eBIS for procurement and accounts payable functions. The COA Solutions system is integrated with QCA’s third-party fixed asset management system.
Supporting the business
According to Nunn, the new purchase-to-pay process is much faster and less resource-intensive than the one it replaced. It is also more accurate because business users are able to enter purchase orders directly onto the system using a browser-based interface. Furthermore, improved control over purchasing has enabled QCA to make purchase orders mandatory for the first time.
The savings made through automation are benefiting QCA in two main ways. First, the COA Solutions system has helped the organisation meet its efficiency target of cutting costs by 5 percent annually. Second, resources have been redeployed so that the finance function is now much more closely involved with the business.
“The biggest benefit of the system is that we spend less time processing data and more time supporting the business in making use of it,” explained Nunn. “As an organisation, we can now focus our attention on planning, reporting and financial management.”
New reporting capabilities, in combination with the changes made to the chart of account, are very important in this context. The financial information now available is more relevant and more understandable by business managers, and board members also make use of the reports.
According to Nunn, user reaction to the changes has been very positive. Although the switch to online working has involved a substantial amount of training, users report that they now have much better control over financial information and processes. Given that the data is available online, QCA anticipates a reduction in the number of spreadsheets maintained by users who, in the past, were concerned about having information to hand. In the future, QCA also plans to use eFinance for distributing reports and for all ledger enquiries by non-financial staff.
“The COA Solutions system has allowed us to deliver what we wanted to deliver without significant compromise. Furthermore, we have received lots of support from the supplier. Overall, we are very happy with the solution,” concluded Nunn.