Agreement of Balances Portal

"Credit control has never been so easy...

The Uber of NHS Finance"

 
 

Yes please, contact me to arrange a demonstration of the Portal 

(done over the internet)

Agreement of Balances affects every NHS trust across the country.

It’s a vital process in the provision of goods and services between NHS group bodies.

But Agreement of Balance can also be complex, time-consuming and frustrating.

For example;

- Do you find that your accounts payable team are constantly emailing, phoning and exchanging statements with other NHS finance departments, especially at month 9 and month 12?

- Are they fielding endless calls throughout the year from suppliers about their outstanding invoices?

- Are they writing off sales invoices to trusts and CCGs every year that should be collectable?

If you’ve answered ‘yes’ to any of these questions, here at the Agreement of Balances Portal we have the solution for you.

What the Portal Does...

The Agreement of Balances Portal is an easy to use software platform that is already helping dozens of NHS trusts across the UK to radically overhaul their day-to-day credit control function and simplify their yearend AOB returns.

And since 2017, this software platform has been making the lives of many NHS accounts payable staff so much easier.

It’s a simple piece of software that you access over the internet, in your web browser. We give you a username and password to a secure website, you upload your accounts payable and accounts receivable, and we do the rest.

There’s no need to download complicated computer programmes or install any fancy new servers – you literally take a CSV download from your ledger and upload it. That’s it.

In fact with most ledger systems, such as Oracle, E-Financials and Integra, there’s a way of automating the process so that you don’t have to do anything at all.

We process daily so if you set things up to let us have your ledger every night when you come in the next morning you’ll have a completely accurate view. And you also won’t have to generate statements any more because everything will be there.

All of this is going to save your financial controller a huge chunk of time and effort – no more endless emails, no more PDFs, no more spreadsheets, no more phone-calls. All the information will just be there.

The Agreement of Balances Portal is already being used by a range of satisfied customers across the NHS, with our user base spanning trusts that perform their own accounts payable, SBS clients and North East Patches clients.

We also have a vibrant user group, which includes the The Department of Health, who have attended a number of our user days and have engaged really positively with the system. The East Lancashire Financial Services (ELFS) is now a strategic partner of ours.

New Developments for 2020

As we all know, we are living in unprecedented times, and the coronavirus pandemic is impacting every area of life – including the world of finance and accounts.

And at what is an extremely busy time for NHS Trusts across the UK, the Agreement of Balances Portal, and the functions it provides, are more vital than ever.

For deputy directors of finance, heads of financial services and financial controllers, there are three things we want to highlight:

1). In spite of the coronavirus pandemic we once again carried out a very successful month 12 exercise for our clients.

Over 170 individual users used the AOB Portal during the 12 month period, with 900 documents posted and around 15,000 comments made in the system. We were particularly proud that there were no critical failures and all support queries were resolved within 30 minutes or less.

2). We now have a completely automated supplier self-service function.

Clearly the next AOB exercise is some way away, but the pressure on your accounts payable team is present and real. And with people working from home it isn’t always possible to process invoices or respond to queries as easily.

We believe the Agreement of Balances Portal can really help here.

Its self-service functionality enables both NHS and commercial suppliers to obtain a free read-only login, so that they can check on the status of their existing invoices, add any comments or documents, and submit any missing or additional invoices themselves.

This functionality allows NHS Trusts to significantly reduce the burden on their accounts payable function and provide suppliers with a clear process for verifying and submitting invoices – which is particularly beneficial given the unexpected pressures arising from the Covid-19 pandemic.

It’s a function that only takes a few hours to set up and will work as part of your existing accounts payable process.

And with over 100 commercial suppliers have access to the Portal so far and the feedback has been very positive.

3). We’re running a pharmacy pilot with one of our clients.

We are piloting the process of uploading pharmacy orders to the Agreement of Balances Portal. Once operational, it will provide accounts payable teams and pharma suppliers with a very clear picture on what has or hasn’t been invoiced and why. This will be a very useful bit of the functionality once it is fully up and running.

Next Steps

Hopefully you’ve now got clear understanding of how the Agreement of Balances Portal can save you time and money.

But you might still have a few questions about the software before you commit.

We get that, so it’s probably worth going through some of the FAQs we’ve heard from clients over the last 3 years:

1). We don’t have the cash to pay the annual subscription of £6,500

We have many, many examples of how trusts have saved much more than this using the portal through reduced head count, increased credit control and payment of invoices that would have otherwise been written off. In fact, we’re so confident of this claim that we will refund the annual £6,500 fee if you take out a subscription to the Agreement of Balances Portal and then don’t make any savings.

2). Our counterparts aren’t subscribers to the portal yet.

This makes no difference. Our ‘Upload Statement’ functionality gives you a one-click way of taking Excel or PDF statements from your counterparts straight into the portal.

3). We haven’t got time to implement and learn a new piece of software.

The Agreement of Balances Portal is quick and easy to get up and running. It’s accessed via a secure link over the internet so there is nothing to install on your servers. Account set up takes minutes, and the training takes about 2 hours. After that support is available as required, at no extra cost. It’s in our interests that you use the software, so we work very hard to bed in new users.

So if you want...

-More cash in your trust bank account

A much lower requirement on your accounts payable department

-More visibility of your actual financial position

And a 21st century answer to a persisting NHS finance problem

…then book a free virtual demonstration today and find out how you can make the lives of your accounts payable staff so much easier.

We can talk you through the software using whatever video conferencing platform your trust is using – MS Teams, Zoom, WebEx, Skype etc. – and offer you a no obligation trial.

Check out our website at www.agreementofbalances.com or phone us on 0845 111 8775 to book in your demonstration today.

We look forward to helping you revolutionise your accounts.

100% Satisfaction Guarantee

We're so convinced that you'll find value in a demonstration of the Agreement of Balances Portal that we'll donate £50 to a charity of your choice if you tell us afterwards that it was a waste of your time. 

Yes please, contact me to arrange a demonstration of the Portal

(done over the internet)