Companies House, the Government agency for incorporating and dissolving limited companies, and the Intellectual Property Office (IPO), the body responsible for intellectual property rights, will save £1.5 million supported by a shared finance system from Advanced Business Solutions.
Sharing the applications across both agencies facilitated a shared Financial Director role which also contributed to the cost saving, alongside the move from third-party hosting to in-house.
A logical fit
Due to the similarity in nature of the two organisations it was decided to reproduce the system at the IPO when its previous finance software reached the end of its support.
The solution is used by around 200 staff at Companies House to process 10 million transactions every year and produce management reports, process invoices and automatically alerts users when a fee is due.
The IPO has been using the software since June 2015, and it is currently used by more than 50 staff to manage 100,000 transactions.
Working collaboratively to drive efficiencies
Neil Hartley, Financial Director at IPO and Companies House, says, “There is a clear focus within Government on working collaboratively to drive efficiencies. Due to the unique nature of the IPO and Companies House in having a large accounts receivable function, moving to the existing shared service framework used by other agencies within our department was not an option.
“By replicating a system that we had tried and tested and knew to be user-friendly, responsive and successful, we could fulfil the joint working strategy and be confident that the benefits would also be mirrored across both agencies.”
Due to the existing infrastructure for running the system and the existing pool of knowledge and experience of Companies House users, the software was rolled out at the IPO in under six months.
Hartley adds, “The shared system approach using Advanced’s software was by far the best value for money option that met all our requirements while enabling us to fulfil the wider Government collaboration strategy.
“It has delivered significant cost savings and is now identified as an example of best practice within the department. It is a future-proof system that will support us to work as effectively as possible to protect frontline services.”