8 April 2013 – Friends Life, which provides pensions, investments and insurance for over five million customers, is looking to drive down the cost of staff expenses by investing in an intelligent online expenses management solution. This solution (developed by Software Europe) is being provided by Friends Life’s finance system supplier, Advanced Business Solutions (Advanced) and is due to go live in June 2013. Advanced and Software Europe signed a partnership agreement in December 2009.
Friends Life will be using the online expenses management solution, linked with its e5 finance system from Advanced, to replace its existing manually-intensive and restrictive software solution. The new solution is expected to significantly reduce expenditure by improving claim accuracy and more effectively enforcing the company’s expenses policy.
Will James, Head of Finance Systems from Friends Life Group, says, “Our current expenses solution does not have any in-built controls and so we are heavily reliant on line managers to effectively enforce our expenses policy. The new solution will automatically ask questions of staff at the point in which they enter their claims, cutting inaccuracies and inflated claims.”
Staff will be asked a range of questions as they enter their claims, such as whether the cost of a meal was for more than one person and if so, were they eating with a colleague or a guest? For mileage claims, the system will automatically suggest the correct mileage and if the mileage claim is more than the suggested figure, the member of staff will have to justify the difference.
Employees will be able to clearly see what they can claim for and the limits in each case and approvers will be provided with visible prompts for items that exceed limits or appear to be duplicates. This will more effectively support company policy.
James says, “We anticipate greater control over expense claims, reducing risk and allowing us to be smarter about our expenditure.”
In addition, the time taken to manage and process staff expenses is expected to reduce. James adds. “Staff will find the new solution much quicker and easier to use and because it is far more automated than our current system and interfaces with our finance system, we will significantly reduce the time and costs associated with processing claims.”
Notes to Editor
About Friends Life www.friendslife.com
Friends Life provides a range of financial products and services. They focus on ways of helping people achieve greater long-term financial security for themselves and their families.
Friends Life brings together over 200 years of experience in looking after our customers and have more than five million customers worldwide. Friends Life’s ambition is to lead the industry in creating a 21st-century life insurance company.
About Advanced Business Solutions www.advancedcomputersoftware.com/abs
Advanced Business Solutions (Advanced) provides leading integrated business applications and services that enable public, private and third sector organisations to retain control, improve visibility and gain efficiencies whilst continually improving corporate performance. Advanced prides itself on getting close to its customers by understanding their businesses and responding to their evolving needs.
Advanced’s software systems comprise core accounting/financial management, procurement, supply chain management, human resource and payroll systems, integrated with a range of collaborative, document management and business intelligence solutions to extend the value and effectiveness of the finance, human resource and payroll departments. Management information systems for school and academies are also provided through Advanced’s subsidiary, Advanced Learning. All solutions can be delivered as a managed or bureau service.
Customers are from both the public and private sectors and include Companies House, Newcastle City Council, NHSScotland, Norfolk Constabulary, Edge Hill University, WH Smith, Royal Bank of Scotland, Aer Lingus, National Express Group, DFS and RSPB.
Advanced Business Solutions is a division of Advanced Computer Software Group plc, a leading supplier of software and IT services to the health, care and business services sectors.
Angela Mycock and Denise Wales
Advanced Computer Software Group
+44(0)1625 856 505