Date published: 01.09.08 - not release date

Symmetry introduces technology for paperless end-to-end e-procurement via education marketplace

Bristol, UK, 17th January 2007 - Symmetry, a leading vendor of financial management software has launched its eProcurement module that will enable FE institutions achieve full electronic-based purchasing from the UNITY marketplace that is now home to over 25,000 suppliers.

Symmetry’s MD, Simon Kearsley commented, “Our eProcurement product will allow existing and new users of our accounting software to exploit the benefits of a fully automated and completely paperless e-procurement method from creating a PO through multi-layered authorisation and funds checking all using an electronic medium. Not only will this save enormous amounts of time for finance departments it also saves money by eliminating maverick off-contract buying and forcing purchasers to buy from approved suppliers at the best negotiated prices.”

Gary Hyde, Finance Manager at West Cheshire College said, “Using the e-procurement module from Symmetry will greatly speed up the efficiency of purchase ordering. We can raise POs far quicker and include more detail than we could in the past, plus it will be much easier to match our purchase orders against our invoices”

He continued, “It will also enable us to devolve the purchasing function to our budget holders, empowering them to look after the delivery of their own products and/or services. The service will achieve improved control of our suppliers, and we can negotiate better prices through consolidated purchasing.”

The eProcurement module can be added to Symmetry’s core product to allow educational institutions to purchase goods online securely and efficiently, using a centralised, controlled system. It provides instant access to the Unity marketplace and a list of approved supplier websites and catalogues, which since the collaboration between UNITY and IDeA (the Local Government Sector’s e-procurement system) has given the user a wider range of suppliers to choose from.

Ray Corner, Director of Finance at the University of Salford who has been involved with Unity Marketplace since its inception, said of the UNITY/IDeA alliance: “This is a shining example of cross sector collaboration as envisaged by Gershon which provides a major opportunity for Universities and Colleges to secure the benefits of e-procurement”.

Symmetry’s eProcurement module in conjunction with UNITY marketplace will provide the following benefits:-

-No re-keying of data into the finance system as orders are created electronically
-Eliminate maverick off-contract buying
-Reduce errors by selecting from supplier maintained catalogues and websites
-Purchase orders are sent electronically
-Cuts the paper chase and improves greener practices

Links: www.symmetry.co.uk

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Editor’s notes:-

About Symmetry:

Established in 1996, Symmetry is a software company that specialises in the development and supply of business-to-business financial solutions within the UK. The company’s core product, Financials, is a fully integrated financial and management accounting solution aimed at organisations ranging in size from £3M turnover to £250M turno NEWS - Symmetry launches paperless e-procurement for FE collegesver and with user populations from 2 to 800+ users. www.symmetry.co.uk

About Crescent Purchasing Consortium (part of UNITY):

A consortium with a genuine further education focus and proven value for money on all arrangements. The Crescent Purchasing Consortium (CPC) is managed by the Directors of Finance for nine further education colleges based in the Greater Manchester area and operated by the Purchasing Services Department at the University of Salford. The CPC now boasts 266 colleges in its membership, these being located in a number of different regions throughout England and Scotland.

Press Contact: Jane Moores, TTA Communications, 0845 658 0120. E-mail: jmoores@ttauk.com