In April this year, we introduced MyFinance to support legal separation. MyFinance is one of the projects in the Project One portfolio and is the gateway to our new leading edge business finance system, replacing mySAP.
The next MyFinance capability to be introduced is Concur; a much simpler and easy to use expense management tool.
At National Grid, we are continuing to adapt to opportunities and challenges that face us, including: a tougher regulatory regime; an increased focus on financial controls and efficiencies; and, a move towards digitisation, transforming how we lead and work.
Over the course of the next year, MyFinance will introduce new functionality across National Grid UK. It will simplify the way we work so we have faster response times and enable us to work more effectively, making our jobs more rewarding and value adding.
It will deliver standardised processes, automated and simplified controls, enhanced reporting, trusted insights and data integrity. Many of our day-to-day activities will be digitised, whether for our own expenses and timesheets or for our business finance and reporting activities. We will see enhancements to financial project management, reporting, expenses and finances more generally, including:
- expenses on the go via the Concur app
- direct access to digitised reports
- greater visibility of data that comes from one source for projects and spend
- improved stock and logistics.
Our new expense management tool, Concur, will be available from Monday 25 November. It’s already used by our US colleagues and brings a number of benefits, for example: expense claims can be made from your laptop or by using the Concur mobile app on your work device; receipts can be photographed, stored and uploaded using the Concur app or submitted as electronic receipts using your laptop; and, if you’re working in a low connectivity area, expenses can be uploaded and saved using the Concur app and submitted when back online.
In addition, controls are built into the system to help you comply with the expenses policy, which in turn also helps your line manager approve expenses more easily. Our ask of you is to submit your expenses on the existing system by Wednesday 20 November for approval by Friday 22 November, ahead of Concur being available from Monday 25 November.
In summary, MyFinance will give us the tools we need to increase our productivity and provide a better user experience. However, for MyFinance to truly transform how we do things, we all have an important part to play in its success. I believe there are some key things that will help us deliver the benefits of MyFinance, including:
- Ensuring representatives from each part of the business are involved in MyFinance; signing up to the design of the system with a clear understanding of what it will and won’t deliver, and making sure other colleagues in their function or entity understand those things.
- All of us working differently by: using the standard processes to avoid unnecessary workarounds; trusting the data coming out of MyFinance; adopting the standard embedded reports and avoiding offline manipulation; and, making sure that project and cost data is kept up to date and accurate, so we can trust in in the data coming out.
As the saying goes, ‘the more we put in, the more we’ll get out’ – so please grasp the opportunity to get involved and improve the way we work.
Project Director, Concur