A new system designed to deal with supplier invoices more effectively has been introduced at a Birmingham NHS agency this month.

LONDON, UK – 22 Nov, 2011: Tradeshift, the social network for business, has announced that Birmingham Primary Care Shared Service Agency (BPCSSA), the Financial Services Directorate that provides Finance and Procurement to 3 Primary Care Trusts and one NHS Trust across Birmingham, will be using its e-invoicing tool to transform how it interacts with over 6,000 suppliers.  The agency has selected Tradeshift to help achieve cost-savings and support the Government’s prompt payment drive for public sector suppliers.

All suppliers can now start submitting invoices electronically via the secure network. With built-in validation, suppliers will be automatically alerted to any inaccuracies in each invoice, ensuring all documents are correctly formatted and reducing the risk of errors. The Tradeshift network also provides a tracking service to give suppliers a clear view of exactly where the invoice is in the system, whether it has been accepted and when payment is due – all vital aspects in maintaining efficient cash flow.

Jennie Grant, CFO (Chief Finance Officer), at Birmingham Primary Care Shared Service Agency, said: “Processing up to 140,000 paper invoices per year was proving a logistical challenge. With Tradeshift, suppliers can access the status of an invoice throughout its journey and contact us in real time if they have any questions.  This new process will provide time and resources savings for all involved.

Birmingham Primary Care Shared Service Agency will initially be bringing 2,500 suppliers onto the Tradeshift network in November 2011 and is working towards all 6,000 suppliers to be on board by March 2012.

Christian Lanng, CEO at Tradeshift, said: “Of every paper invoice processed, up to 40% come into dispute – costing both businesses and their suppliers’ time and money in resolving them. Managing thousands of invoices from thousands of suppliers is a challenge however you look at it, let alone working with email and paper formats. Tradeshift is designed specifically to make invoicing simple and transparent for all businesses and suppliers, whatever their size. By rejecting archaic time and cost draining forms of email and paper invoicing and fully embracing e-invoicing, Birmingham Primary Care Shared Service Agency will significantly improve its supplier relationships through prompter payments.”