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Talix

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© 2019 Sage Intacct, Inc. All rights reserved. www.sageintacct.com 877-437-7765 Company Overview Talix is a leading SaaS healthcare IT company delivering risk adjustment and quality solutions to help providers and payers succeed in value-based healthcare. Its platform transforms complex patient data into actionable intelligence that drives be er patient outcomes, accurate reimbursements and improved efficiencies. Learn more at www.talix.com. Executive Summary Previous So ware: • QuickBooks, Excel Results with Sage Intacct: • DSO reduced from five months to 45 days • $3 million in additional year-end cash • Monthly close cut from three weeks to four days • Five-year forecasts based on highly granular data Challenges Scale and Insights at a Fast-Growth Healthcare IT Company Talix is at the forefront of helping the healthcare industry transition from fee-for-service models to value-based care tied to patient health outcomes. Its cloud-based risk adjustment solutions equip U.S.-based healthcare insurers and providers to use complex patient data to improve the accuracy and speed of claims, eliminating error-prone manual work in a heavily regulated environment. The fast-growth SaaS vendor, based in San Francisco, saw revenue leap 200 percent in 2018, two years a er it was spun off by Healthline, a consumer-oriented healthcare information provider. The 50-person company is scaling rapidly with a robust and sophisticated financial management and planning system put together by Ashmi Shah, its talented and progressive SVP Finance. Talix's finance team has achieved huge gains in scale, speed, accuracy, and insights through what Shah calls a "perfect marriage" of the Sage Intacct financial management platform and the Adaptive Insights planning, budgeting, and forecasting solution. Shah has led Talix's finance transformation journey since joining the company in mid-2016. Back then, the company relied on QuickBooks and Excel, though it also had Sage Intacct, which had been licensed by Healthline before the Talix spinoff. It was up to Shah to put Sage Intacct into production and start eliminating the inefficiencies and limited visibility that company had experi- enced with QuickBooks and Excel. Solutions A 5x Faster Close and $3 Million in New Cash Flow Sage Intacct proved to be the ideal solution to meet Shah's three key goals: 1) Deep reporting to support data-driven decisions 2) tracking profitability and other key metrics at highly granular line of business and product levels and 3) streamlining multi-element revenue recognition and other aspects of accounting. "Using Excel spreadsheets, especially if you have multiple revenue com- ponents, is hours of work and it's very easy to make mistakes," Shah said. "When I started, we were barely able to make a three-week close and were not tracking things at a deep level. Now we're down to a four-day close covering all types of granularities." Previously, tracking deferred revenue and recognizing revenue would take four days a month — that's been reduced to one day. Once-manual billing processes are now automated through Sage Intacct, reducing what had been four to five days of work to a half-day while giving Talix flexibility to accommodate complex billing schedules. Talix cut days sales outstanding (DSO) dramatically, Scale and Insights at a Fast-Growth Healthcare IT Company Talix C A S E S T U D Y

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