The Royal Bank of Scotland Group is using its e-invoicing service with Lambeth Council in an attempt to cut the cost of receiving, processing and paying bills, and reduce paper usage while still complying with the council’s purchase order policy for all goods and services.
The newly live service is the third such rollout to a UK council. It means the Lambeth administration should be able to improve the services on offer to its suppliers, be that for food, stationery, vehicles or the myriad of other resources used by the council, by using the new e-invoicing system to ensure payments are made on time, with no lost invoices and a clear audit trail. Treasury functions and record-keeping should be immeasurably improved by the new installation.
RBS’ online document exchange service automates payables and receivables processes – from the distribution of purchase orders, handling of disputes to invoice creation, receipt and approval – creating a more efficient Straight-Through Processing (STP) environment and better control over cash flow.
The RBS e-invoicing service is now integrated into Lambeth Council’s Oracle Enterprise Resource Planning (ERP) system, with all purchase orders and invoices delivered via the online hub. The service is fully VAT compliant, asserts the bank, so both Lambeth Council and their suppliers can rest assured that their documents comply with the relevant HMRC tax rules.
Commenting on the implementation, Colin Lowen, director of local government, corporate & institutional banking at RBS Global Transaction Services, said: “We are delighted to work with Lambeth Council in helping create efficiencies, while also reducing their carbon footprint [via the reduction of paper and deliveries]. Providing solutions to local authorities has been important for us: this is the third council to successfully take on our e-invoicing solution.”
