Greensill platform partner Taulia and the UK’s NHS Business Services Authority have been recognised with a 2019 Bobsguide Partnership Award for their work in helping pharmacists across the UK be paid early.
The accomplishment is the latest recognition of Greensill and Taulia’s efforts with the NHSBSA Pharmacy Earlier Payment Scheme (PEPS). Other distinctions include the “Trade Finance Top Ten” at 2019 Euromoney Trade Finance Awards, and being recognized as one of the “Best Deals” of the year at the 2019 Global Trade Review Leaders in Trade awards.
Greensill’s £1-billion-plus programme with the UK Crown Commercial Service (“CCS”) is a technology-led approach that allows pharmacists who provide crucial healthcare services to be compensated promptly, instead of waiting two-plus months.
Left to right: Greensill Director of Origination Robert Pooles and Taulia Business Consultant Director Daniel Smith are joined by Philip Edwards, Business Development and Principal Pharmacist at NHS Business Services Authority (NHSBSA), and the NHSBSA team.
“NHSBSA processes 1.1 billion prescriptions a year. By lending their extensive supply chain finance knowledge, Taulia and Greensill have been able to add real strategic value to NHSBSA’s offering,” said Martin Kelsall, Director of Primary Care Services at NHSBSA.
The Bobsguide Partnership Awards celebrate successful fintech and financial market partnerships, and individual technology developments.
Upon winning the deal in late March of 2018, Greensill and Taulia needed to act quickly, as the existing scheme with a global bank needed to be replaced within nine weeks of signing. Greensill’s team successfully transferred more than 1,600 pharmacists to its scheme ahead of the deadline. The framework is unique in that it is “single supplier” with Greensill, the only approved provider for SCF across the entire public sector, without the need for further procurement.
The framework has been so successful that CCS is currently exploring other areas where the UK government can implement SCF for early payment. The scheme could apply anywhere there is a government-approved cashflow.