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Press Releases
Βι¶ΉΤΌΕΔ announces preferred supplier for outsourced finance and accounting services
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The Βι¶ΉΤΌΕΔ announced today that it has selected Xansa as the preferred supplier
for the Βι¶ΉΤΌΕΔ's outsourced finance and accounting services. The new contract
will run for a period of ten years.
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It is the result of the re-tendering of
services that were successfully outsourced to Medas, a wholly-owned subsidiary
of EDS, in 1997.
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Subject to contract signature:
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Xansa will work closely with the Βι¶ΉΤΌΕΔ to deliver finance and accounting services
across the Βι¶ΉΤΌΕΔ, including purchasing and sales transaction processing, artist
and contributor payments, financial management and project accounting, payroll
processing and expenses and customer support.
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The ten-year contract will cost the Βι¶ΉΤΌΕΔ approximately Β£8.5m per annum, and will
generate savings for the Βι¶ΉΤΌΕΔ in the region of Β£20m per annum.
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This will be a
major contribution to the Βι¶ΉΤΌΕΔ's target of releasing Β£355m of savings to invest
in programmes and services.
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The Βι¶ΉΤΌΕΔ is currently conducting a simplification of
its business processes as part of its Future Finance programme, which is
delivering further savings of Β£17m.
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Xansa will provide their services from a blend of locations in the UK and
India. All voice contact (Customer Support) with Xansa will remain in the UK;
other services, including transaction processing, will be carried out at
Xansa's location in Chennai, India.
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In this way the Βι¶ΉΤΌΕΔ is taking advantage
of the significant savings of globalisation while maintaining the benefits of
more local customer support.
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The original outsourcing of these services to Medas in 1997 was seen at the
time as being a ground-breaking deal which included a successful implementation
of a common systems platform (SAP) across the Βι¶ΉΤΌΕΔ.
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Medas also successfully
transformed the Βι¶ΉΤΌΕΔ's transaction processing operation, delivering a fit-for-purpose and efficient service to the Βι¶ΉΤΌΕΔ.
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Xansa was selected from a shortlist of four companies (Capita, EDS, Infosys BPO
and Xansa) after a rigorous evaluation process against a number of criteria
which included value for money, cultural alignment with the Βι¶ΉΤΌΕΔ, service
delivery capability; the ability to drive improvements to the Βι¶ΉΤΌΕΔ's business
and financial processes, and transition and exit planning.
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Xansa will act as prime contractor working with Siemens Business Services.
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We
are confident that this will bring advantages to the Βι¶ΉΤΌΕΔ in terms of simplicity
and lower cost for making changes to the Βι¶ΉΤΌΕΔ's IT infrastructure.
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Zarin Patel, Βι¶ΉΤΌΕΔ Group Finance Director, said: "I congratulate Xansa on winning this major contract. The Βι¶ΉΤΌΕΔ will benefit from
Xansa's proven expertise in managing outsourced Finance and Accounting
Services, and we look forward to developing a close relationship with them.
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"I believe this is an excellent deal for the Βι¶ΉΤΌΕΔ, and I am confident that Xansa
will help us further to transform our finance and business processes.
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"By
moving our transaction processing to India we are demonstrating that we are
prepared to take bold and imaginative decisions that offer the licence-fee
payer great value for money, while still maintaining the highest quality of
service delivery.
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"I would like to thank our colleagues in Medas for their valuable support over
the last nine years: in that time they have helped us transform the Βι¶ΉΤΌΕΔ's
finance and accounting processes, delivered a sound SAP implementation, managed
our transaction processing, expenses and business systems and left us with a
fit and stable operation to build on in the future."
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Alistair Cox, Chief Executive of Xansa, said:
"We are delighted that Xansa has been selected as preferred partner to deliver
Finance and Accounting Services across the Βι¶ΉΤΌΕΔ.
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"Our expert technology and back
office services allows our clients to do more with their own business and we
are confident that we will, as the UK leader in F&A services, enable the Βι¶ΉΤΌΕΔ to
minimise its administrative costs and to free up funds to invest in its own
core business of creative programming.
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"We are particularly pleased to be the Βι¶ΉΤΌΕΔ's first offshore BPO partner, and
this week's award win as offshore operator of the year is another terrific
endorsement of our leading offshore position and capability."
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Update posted 10 November 2006: on Wednesday 8 November 2006 the Βι¶ΉΤΌΕΔ signed a contract with Xansa for the provision of outsourced finance and accounting services. Xansa will take over the operation of these services from July 2007.
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Notes to Editors
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Βι¶ΉΤΌΕΔ Finance
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The Βι¶ΉΤΌΕΔ recently announced a significant number of changes to Βι¶ΉΤΌΕΔ Finance
(Βι¶ΉΤΌΕΔ's finance division), as part of the corporation's drive to make
significant cost reductions across its support divisions.
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The Future Finance
programme changes include:
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The creation of a new specialist Finance Centre in Ty Oldfield (at the
Βι¶ΉΤΌΕΔ's HQ in Cardiff), which came into existence in July 2006;
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The introduction of new, simpler business procedures and a reduction in
internal trading.
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A reduction in the number of posts in Βι¶ΉΤΌΕΔ Finance from around 650 in
2005/6 to 310 in 2006/7, to 260 in 2007/8.
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These measures will contribute to an anticipated saving within Βι¶ΉΤΌΕΔ
Finance of Β£17m by 2008.
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About Xansa
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Xansa is the UK leader in the delivery of outsourced Finance and Accounting
(F&A) services. With clients including BT, Lloyds TSB, MyTravel and the NHS,
Xansa has many year experience of delivering F&A in both the private and public
sector.
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Xansa is an outsourcing and technology company with over 8,000 people in the UK
and India.
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Xansa has a 44-year history of delivering IT solutions to major
clients across the private and public sector. Its portfolio of services
includes: business and technology consulting, IT services, IT outsourcing,
business process outsourcing, F&A outsourcing, and HR solutions.
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Xansa is
listed on the London Stock Exchange with revenues for 2006 of Β£357.3 million.
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Medas and the Βι¶ΉΤΌΕΔ
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Medas is a wholly owned subsidiary of EDS.
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Medas was founded in 1997 to provide financial transactions processing for the
Βι¶ΉΤΌΕΔ and also support the IT systems that facilitate that processing.
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The company became fully operational in March 1998 following the transfer of
nearly 400 finance staff from the Βι¶ΉΤΌΕΔ, in addition to the 80 IT staff who
transferred in March 1997.
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Medas operates from two sites: Ealing (West London) and Cardiff.
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The services Medas provides to the Βι¶ΉΤΌΕΔ are in summary:
Accounts Payable
Accounts Receivable
Contributor Payments
Expenses and Advances
Financial Accounting
IT systems support and development
Payroll
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Xansa have indicated that they will treat all existing Medas staff with
fairness and sensitivity, and that normal TUPE regulations will apply.
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Βι¶ΉΤΌΕΔ Press Office
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