The main challenges facing the Trust were missing invoices, accounts on stop, approval of expenditure and cash.
The Trust has been a client of Liaison Financial for 10 years and has achieved savings in excess of £750k in total, with £43k having been achieved through their most recent Accounts Payable (AP) review.
Tina Dunne, Charitable Funds/Payables Manager started with Worcestershire Acute NHS Trust in 1992 and discusses why the Trust appoints Liaison Financial year after year to conduct its AP reviews.
Our recent review with Liaison Financial was excellent and very beneficial to our AP reconciliation. The review provided us with independent reassurance of our internal processes. The key benefits of the review were the savings recovered to the Trust along with the fact that we have one dedicated advisor with whom we have a great relationship.
The service offered by Liaison Financial during the past 10 years has continually improved with the Statement and Duplicate Payment reviews, especially with the provision of dummy credits to minimise resource implications on our team of staff.
Liaison Financial’s HSCN accreditation allows them to access our ledger directly to resolve any queries they may have. This has significantly reduced the level of disruption to my department, therefore enhancing the level of service offered.
Our Liaison Financial advisor is very helpful, knowledgeable, experienced and approachable. During the whole review, the type and frequency of contact with our advisor was appropriate, ensuring the task was completed on time.
The Liaison Financial suite of reports were informative, useful, and most importantly, very clear for all staff to review. It’s the professional approach, excellent team, and savings achieved that have been made for our Trust that sees us returning to Liaison Financial each year. I would recommend the Liaison Financial AP service to other NHS Trusts looking for savings, reassurance and reconciliation.
Charitable Funds/Payables Manager, Worcestershire Acute NHS Trust
Worcestershire Acute NHS Trust
Missing invoices, accounts on stop, approval of expenditure and cash.
Accounts Payable reviews