Customer Case Studies

© 2018 Sage Intacct, Inc. All rights reserved. www.sageintacct.com 877-437-7765 Company Overview Welltok is a data-driven, enterprise SaaS company that delivers the healthcare industry's leading consumer activation platform. Welltok's solutions empower leading health plans, employers, providers and public entities to connect consumers with personalized health improvement resources, making it easy and rewarding for consumers to complete actions that optimize their health and wellbeing. Only Welltok leverages a machine- learning, multi-channel approach proven to help innovative organizations power growth and retention initiatives, improve healthcare value, and streamline the consumer experience, while upholding the highest security and compliance standards. To learn more, visit www.wellltok.com. Executive Summary Previous Soware: • QuickBooks Results with Sage Intacct: • Automated rev rec for fast- growing subscription business • Time needed for monthly close reduced by 25% • Quote-to-cash eciency accelerated by 20% • New exibility to meet complex customer billing requirements Challenges The Need for Scalability in Consumer-Centric Healthcare Welltok is helping to drive the consumer-centric evolution of healthcare with its award-winning health optimization platform that empowers health plans, employers, providers and public entities to connect consumers with personalized health improvement resources. Named to the Inc. 5000, Forbes Cloud 100, Forbes Next Billion Dollar Company and Deloie Technology Fast 500 lists, the Denver-based company has expanded its workforce from 100 to 450 in roughly four years while completing about a half-dozen acquisitions. With growth accelerating, Welltok recognized that the QuickBooks application it deployed as a startup wasn't suited to scale across complex business models. "Instead of waiting until we go to the breaking point with QuickBooks, we wanted to get out ahead of it," said John Fowle, Vice President and Corporate Controller at Welltok. "We needed a stronger control environment, a stronger nancial management platform that could scale with the business. As we started to put in order-to-cash, buy-to-pay, and integrated treasury management, we would need more robust features and functionality." Management recognized that billing could be an especially vexing challenge as Welltok grew its customer base across commercial, Medicare and Medicaid health plans, providers, self-insured employers, retail pharmacies, and health services companies. "Historically, our ability to bill was reliant on Excel spreadsheets, documentation, and stacks of paper," Fowle said. "On top of that, the evolution of the subscription economy has ushered in a new world of billing and complexity in the way that customers want to be billed and their timing." Solutions Automating Multi-Element Revenue Recognition Since selecting Sage Intacct as its nancial management platform aer an evaluation against a competing Oracle NetSuite solution, Welltok has reshaped its revenue recognition, subscription billing, forecasting, and other processes. Orders and billings that were once tracked manually in Excel and QuickBooks are now automated in Sage Intacct, helping to accelerate the monthly close by 25%. That's opened new time for Fowle's team to pivot from transactional record-keeping to strategic analytics and becoming a stronger partner to the business. "We've been able to take out so much of the manual work that we went through every month and instead use that time for more value-added activities as we go through our record-to-report process," Fowle said. The Need for Scalability in Consumer-Centric Healthcare Welltok C A S E S T U D Y

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