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Newcastle University is a public research university in England. A member of the Russell Group, Newcastle has one of the largest EU research portfolios in the UK. From its origins as a School of Medicine and Surgery in 1834, Newcastle is today a world-class university that offers first-class education in multiple streams to students in the UK. Newcastle has also spread its wings to Thailand and Singapore and is furthering education globally.
Newcastle’s S2P processes (purchasing and invoice processing) were highly decentralized, suffering from considerable process and information variations across the organization. The lack of a core procurement process and centralized negotiations prevented economies of scale and centralization as various parts of the university engaged with different suppliers, with different pricing structures and different terms and conditions.
S2P processes were unjustifiably expensive and lacked the ability to repeatedly monitor the results such as the quality of supply (quality of goods and the timeliness and accuracy of deliveries). The lacuna in the process was such that even single suppliers were not being treated uniformly across the university and invoicing processes were dispersed.
The university needed a solution that could leverage SAP and SAP-based technologies to reduce the cost of S2P and at the same time help with:
A detailed diagnostic of Newcastle’s S2P process led to WNS and Newcastle University devising a cornerstone S2P solution. The solution incorporated high-performing strategic procurement and invoice management components to leverage SAP, SAP-based and third party technologies to achieve the goals that the client had set for its S2P function, as shown below:
With the implementation of the above-mentioned components, WNS was able to maximize benefits for Newcastle.
The tangible and intangible benefits delivered to Newcastle, after the implementation of the solution include:
WNS, a leading global business process management (BPM) company is a top-tier offshore F&A provider. WNS has evolved as a leading FAO provider with capabilities of supporting the entire value chain of functions within the CFO's office including Transaction Accounting (Order-to-Cash & Procure-to-Pay); Corporate Accounting (Record-to-Report, Financial Planning & Analysis, Treasury and Taxes); Risk & Investor Relations (Risk Management, Investor Management, Corporate Announcements, External Reporting); and Strategic Initiatives (Strategy, Merger & Acquisition).
Key highlights of how WNS creates value for its clients in F&A: