Benefits

Considering real benefits that other Institutes and Associations have gained from using PS Financials shows the scope of ROI and payback that can be achieved. Here are significant time and cost savings that have been made directly as a result of using PS Financials to manage these organisations:

John Garnham, Financial Director, International Tennis Federation (ITF) "Usually it takes at least four or five years for a company to achieve full payback on a capital investment, but just one-and-a-half years after implementing PS Financials, we are close to achieving a full return on the investment," he reveals. The PS Financials system has saved ITF's accounts department 14 days of labour per month, equating to 176.5 days per annum, therefore improving time efficiencies by an estimated 50%. The monetary value per annum of these calculated cost savings is £21,668. "Before we implemented PS Financials, we spent a large amount of time looking for information and documents because the old system did not have the capability to access accounts information seamlessly and easily," "We now have the ability to pull information from the system - immediately. We can therefore answer queries [posed by ITF employees] within seconds by accessing the relevant information on screen instead of referring to hard copies of source documents. Before installing PS Financials we would stock up requests for information, which sometimes, would not be answered until the next day." "Now we can produce management accounts in minutes, previously it would take a day. Inputting transactions takes one third of the time and it is easy to transfer information into Excel, Word or email." "Staff are still able to carry out other accountancy functions while the year-end is being processed, because the system allows us to bring up several [time] periods on screen simultaneously," "We have also moved away from batch control because with the User defined input screens from PS Financials, each invoice is individually controlled automatically." Full Case Study - click here...

Rowena Wells, Director of Finance, CILIP (Chartered Institute of Library and Information Professionals) "The impact of this move towards a 'self-service' financials model is significant. The burden of processing budget requests is removed from the finance department and placed on the individual employee, resulting in massive time savings." Full Case Study - click here...