Customer Case Studies

www.sageintacct.com 300 Park Ave #1400 San Jose, CA 95110 877-437-7765 Copyright ©2019, Sage Intacct, Inc. All rights reserved. Sage Intacct is a registered trademark of Sage Intacct, Inc. H e a l t H c a r e a c c o u n t s r e c e i v a b l e M a n a g e M e n t P r o v i d e r i M P r o v e s M a r g i n s 6 % a n d P r o d u c t i v i t y 1 0 0 % collecting and processing corporate expense data, which contributed to the company's 22-day- long monthly close. On BTerrell's recommendation, the team adopted the Nexonia app from the Sage Intacct Marketplace. Now, vendors and employees submit their invoices and expenses directly through Nexonia, which automatically routes them for proper approvals and then pushes all documentation into Sage Intacct. As a result, HCSF achieved a four-day close, and the finance team's overall workload was cut in half – freeing them up to support other strategic projects such as operational improvement and due diligence. Sage Intacct also gave them the ability to capture granular data from HCSF's proprietary customer portal. The team simply uploads client invoices directly into the financial system, and can track each individual revenue transaction, rather than the aggregate totals they were limited to in their previous general ledger. With Sage Intacct's at-a-glance dashboards, they easily stay on top of their A/R aging, A/P aging, cash receipts, and check register throughout the month. Results Hospital-Level Transparency Helps Increase Profits by 6% HCFS also created personalized dashboards that display real-time financial information and key performance indicators so management can quickly react to anomalies and trends in the market. By leveraging Sage Intacct's dimensions and statistical accounts, they can slice and dice this data by region, by department, or even by each individual hospital the company supports. For the first time, the company can allocate full-time employees and management from corporate across the proper cost centers in order to reveal a complete picture of expenses and revenue by facility. "Now that we can determine profitability for each hospital, our operating managers always know where they stand with gross profits and net profits, and can calculate ROI's if an incremental FTE is added to the business," shared Nese. "And when we're preparing proposals for new clients, we can see our comprehensive costs for a particular state, which helps improve the accuracy of our projections and ensures we're protecting profit margins despite more and more pricing pressure." Nese built an executive dashboard in Sage Intacct that displays the company's rolling twelve- month income statements, balance sheet, revenue trends, and key departments. He also eliminated a 175-tab, error-prone budget worksheet, which sped up the budgeting cycle by around 60%. Managers see their actual month-to-date and year-to-date activity right alongside planned budget in Sage Intacct, and keep an eye on any areas where there's variance. "Sage Intacct gives us historical insight that helps with long-term planning. Since day-to-day processes are automated in Sage Intacct and we can close the books quickly, we're shi ing our energy towards predicting the future," concluded Nese. "Our decisions are based on real numbers, so we have the confidence to make necessary changes in a timely manner." A big initiative in healthcare is being transparent, so our c-suite has to know what's really going on before it's too late to make adjustments. With everything that I've put on our Sage Intacct dashboards, our leaders have the information they need to make decisions from the executive level all the way down to individual managers. Timothy R. Nese, CFO, HCFS

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