Central and North West London NHS Foundation Trust has awarded NHS Shared Business Services (NHS SBS) a five-year, £3.1m contract to provide finance and accounting services.
The Trust says it is currently attempting an efficiency drive in which it aims to streamline and reduce the cost of running its back office processes to redirect the savings towards patient care.
The new partnership with NHS SBS is intended to aid this improvement plan. The organisation says it will see the current finance and accounting system migrated onto a single Oracle platform before the proposed live date of October this year.
NHS SBS claims it will utilise its business intelligence reporting technology to provide greater visibility on the financial performance of the health organisation.
“As well as standardising and transforming the financial processes across the various services, we will also be working closely with the Trust to identify areas for continuous improvement and harnessing Big Data that will really support financial planning,” claimed John Neilson, NHS SBS chief executive.
The Trust called the deal a “strategic partnership” and says it hopes it will create “significant financial savings,” leaving the services users at the forefront while its systems are being upgraded.
The announcement also noted that the contract is the second to be awarded under the single supplier framework agreement with the NHS SBS created by Staffordshire and Stoke on Trent Partnership NHS Trust.
This framework is said to enable all NHS organisations to save time and money when procuring finance and accounting, employment and procurement services because it removes the requirement to go through the Official Journal of the European Journal tender process.