NHS SBS to deliver next generation of NHS finance service
2 December 2022
NHS Shared Business Services (NHS SBS) has been awarded a major new contract of over £100m to provide the next phase of NHS's national finance service on behalf of NHS England (NHSE) until at least 2031.
The agreement will see NHS SBS deliver the next generation of the new Integrated Single Financial Environment (ISFE) - one of the country's most important infrastructure systems, processing around £155 billion every year.
The cloud-based system has been developed by NHS SBS as an integral part of an enhanced financial service for the NHS. Building upon extensive engagement with NHS partners, it will transform user experience and extend the success of the current ISFE service, which has been delivered by NHS SBS since 2012.
With a slicker, more user-friendly interface, the service will be used - in the first instance - by NHSE group to provide secure, consistent, best-practice finance processes nationwide.
Benefits of the new system include real-time and snapshot reporting for swift and informed decision-making, alongside automatic data validation checks to enhance accuracy. Using SaaS (Software as a Service) technology, the platform will be automatically patched and upgraded, enhancing functionality, stability and security with no downtime for end-users.
A key part of NHS SBS's ongoing commitment to invest on behalf of the wider healthcare system, the new finance platform and service is ultimately aimed at making life easier for NHS employees and suppliers. It will help Integrated Care Boards and other organisations to innovate quickly to meet both their local objectives and align to national requirements.
NHS England and commissioning organisations will go live on 1 April 2024 and the service made available to other NHS organisations after this.
Erika Bannerman, Managing Director of NHS SBS, said:
"As the country's leading provider of corporate services to the NHS, we are uniquely equipped to continue providing the Integrated Single Financial Environment to our evolving healthcare system. Moving towards a unified service and platform for NHS trusts and commissioners is a huge step forward in achieving the vision we share with NHS England of 'one NHS finance system'.
"The new service is not just a continuation of what came before. At its heart isa single, scalable, integrated, cloud-based finance platform, which is designed by the NHS for the NHS. Meeting the health system's current and future needs, it enables collaboration at local, regional and national levels, and drives effectiveness, efficiency, continuous improvement and best practice."