User Story: CIPFA
CIPFA runs with Compleat to improve procurement control and efficiency.
CIPFA: The Chartered Institute of Public Finance and Accountancy
As the professional body for people in public finance, CIPFA has around 14,000 members who work throughout the public services, in national audit agencies, major accountancy firms, and in other bodies where public money needs to be effectively and efficiently managed.
To help demonstrate best practice to members, CIPFA felt it was necessary to gain even more control over the Institute’s procurement process, and in light of the current economic climate, ensure costs are managed and control over corporate spend increased to drive costs as low as possible.
CIPFA knew what it needed - a faster, easier way to manage spend throughout the organisation, and that's when it engaged Compleat.
Compleat's spend control solution (CompleatP2P) met all of CIPFA’s requirements for an automated procurement function and was a more cost-effective alternative to other solutions CIPFA looked at.
Compleat P2P (purchase-to-pay) combines the automation of order creation and invoice automation to revolutionise the entire purchasing process for finance, budget holders and procurement.
It delivers a single holistic real-time view of every supplier, every current and historic transaction and the exact status of budget availability to improve financial management, whilst empowering budget holders to hone their budget management skills and suppliers relationships in real time.
Compleat has significantly improved performance in terms of document management and supplier relationship management, resulting in faster reporting and more informed decision-making.
Furthermore, the ability to quickly analyse spend data and check progress allows budget holders to achieve established targets, while reports on cash flow are now available at the click of a button.
CIPFA leaders were amazed when a recent request for spend and budget information was answered almost instantly!
Follow CIPFA's journey from start to finish and discover how they utilised Compleat to transform their financial management, streamline processes, reduce costs and scale their business.
Transform your purchase and invoice processing through the automated, touchless capture of data from supplier invoices – including header and line information – saving you time and ensuring accuracy.
Track captured invoices, apply rules to manage coding and matching – streamlining processing – and automatically forward them to your accounting software, minimising human input and error.
Use our financial management software add-ons to access captured spend data to identify and action cost-saving opportunities across the board, working across teams to deliver a credible and compelling return on investment.
Make buying easier, access trackable spending for real-time visibility (including budget availability), and achieve and sustain savings by encouraging users to buy from preferred suppliers and online.