NHS SBS partners with Tradeshift for e-invoicing solutions

Friday 30 May 2014 09:36 CET | News

NHS Shared Business Services (NHS SBS) has partnered with Tradeshift, a Danish e-invoicing B2B social network operator, to replace paper-based invoices and automate payment process for healthcare organisations and their suppliers.

A joint venture between the Department of Health (DoH) and Steria, NHS SBS provides back office finance and procurement services to a customer base that includes hospital trusts and primary healthcare providers.

Currently, in the paper system, 15 validation checks - relating to details such as supplier names and payee information - have to be performed on any supplier payment. These checks are presently carried out halfway through the payment process, meaning that in cases where information may be incorrect, paper correspondence notifying the supplier of any mistakes is then sent, with payment delayed until the correct information is supplied.

According to the source, for NHS clients, Tradeshift’s e-invoicing platform integrates into the current Oracle enterprise resource planning (ERP) being used by their departments.

In recent news, Tradeshift has raised USD 75 million in venture funding from Scentan Ventures, a venture capital firm based in Singapore.

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Keywords: NHS SBS, Tradeshift, e-invoicing, electronic invoices solutions, healthcare
Categories: Banking & Fintech
Countries: World
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Banking & Fintech

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