TechnologyOne to help LSE overhaul core financial system

TechnologyOne selected in five-year deal to help LSE streamline, standardise and automate processes for efficiency and mobile working gains

The London School of Economics and Political Science (LSE) has today announced it has selected TechnologyOne, to overhaul its core financial and research accounting business processes. This will allow the university’s authorised staff to work smarter and more efficiently, using a modern and fit-for-purpose financial solution.

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The university signed the five-year deal with leading software provider TechnologyOne, following a comprehensive review of its incumbent financial solutions. “It became clear that we needed to completely re-think the way that we handle our financial operations”, said Keith Adams, Head of Financial Systems at LSE.

“We had a large number of disparate legacy systems, with many integrations and user interfaces that needed regular, time consuming and costly maintenance. If we wanted to upgrade one legacy system, we had to upgrade the many interfaces at the same time, and it really was becoming a burden. Not only that, we also had too many paper-based and manual processes and authorisations with a lack of automated workflow.

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“This didn’t sit well with our long-term vision to create an environment that allows efficient and modern ways of working for the hundreds of staff that were using the system, freeing staff to work on more value-added activities for the university. So, it became clear we needed an innovative financial solution that would embrace recommended practice with a single, seamlessly integrated, enterprise solution with a consistent user interface, and available anytime, anywhere and on any device.”

LSE will go live with TechnologyOne’s financials software-as-a-service (SaaS) solution in August 2019, ready for the new academic year of 2019/20. The solution will help LSE overcome all of its past challenges and will provide: standardisation and workflow automation of business processes, SaaS software with no PC footprint, efficiency gains in transactional processing, general modernisation of ‘look and feel’, consolidation of the functions of legacy systems into one solution to reduce interfaces and systems supported, and mobile device compatibility for processes such as online expenses and authorisations.

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Keith concludes; “Following a comprehensive and competitive tender process it became apparent that TechnologyOne was the supplier who best demonstrated the ability to deliver a true enterprise solution. For us, it was an easy decision to select TechnologyOne and we are now looking forward to reaping the benefits of the solution, following implementation.”

Mike Ferguson, Finance Director at LSE added: “The financials software will allow us to align key processes under the same system and strengthen our operations. We expect the implementation to have a significant impact on our efficiency and see this as a key strategic investment towards achieving that goal.”

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Anwen Robinson, Operating Officer UK at TechnologyOne said; “It’s fantastic to see our solutions continue to power the best universities in the UK. Our deep knowledge of this sector allows us to provide pre-configured solutions that are fit for purpose, and incredibly easy to use. By harnessing true cloud technology, we are able to deliver an Enterprise Software-As-A- Service solution that is highly scalable, offers automatic updates, is accessible via any internet enabled device and offers continuous innovation and improvements. The London School of Economics and Political Science has truly embraced the power of a single, integrated enterprise solution and we are thrilled to have been selected as their partner to help them realise the transformational benefits this will bring.”

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