The Finance Portal
The Finance Portal is a browser-based application designed for use in academies that have departmental and cost centre budgets.
The system is a Web Portal that is fully integrated with the Dimensions for Academies system and automates the process of creation, submission and approval of purchase requests. It provides, on-line, all the information budget holders need to control their budgets.
A completely paper free purchasing process is delivered through a web-browser (Internet Explorer for example) whilst retaining ultimate authority with the finance staff.
Manage Budgets and Requests with a Web-browser Portal
The purchase request can have a minimum of detail with finance staff choosing the supplier and entering details. Alternatively, full details of supplier and items requested can be entered on multiple detail lines.
Purchasing catalogue items from multiple suppliers are automatically uploaded into Dimensions for Academies and made available in Finance Portal.
The purchase request screen is very simple to use and can be made available to all members of staff throughout the school. There is no user-dependant charge for use of the system.
The Purchase Order Process
- Member of staff enters purchase request
- Email goes to budget holder (with a link to the authorisation page)
- Budget holder inspects the request and checks against budget
- Budget holder approves or rejects
- Purchase order is automatically created in finance system
- Finance staff check, agree, amend, or reject
- Finance staff send purchase order to supplier (or not)
Departmental reporting is provided through the same portal. Each budget holder has access to a spend summary that gives all of the detail required to manage the budget and drill down to individual transactions to see the detail for each transaction.
On-line departmental spend summary reports
- Actual spend to date
- Committed spend
- Drill down to inspect transactions
The Finance Portal
- On-line purchase control
- On-line reporting
- On-line authorisations
- Budgetary control
"We introduced the Finance Portal for purchase ordering and on-line reporting at Q3 Academy some time ago and have been delighted with both the system and the results.
We have seen a significant reduction in paperwork, easier access to essential information for managers and a quick and efficient method of procurement that all staff have fully embraced. This has helped to reduce costs in the Academy by around £3,000 per annum.
For us, the biggest advantage is its ease of use; easy to set up as it's not a complicated system but flexible and has been nothing less than transformational in the impact on our financial processes and procedures. I am happy to recommend the Finance Portal to anyone seeking to streamline their reporting and ordering process."Gary Hargreaves
What will it do for me?
- Robust purchasing process
- Save time on approvals & reconciliation
- On-line budget holder reporting
- Transaction drill down from reports
- As many users as you want
- No 'per user' charges
- A paper-free environment
- Eliminate unauthorised requests
- End unwanted purchases
- Stop felling trees