ATLANTA, Dec. 03, 2020 (GLOBE NEWSWIRE) — Accurate Neuromonitoring, a healthcare apply that serves 100 hospitals all through the east coast of the US, just lately elevated profitability 30 % whereas boosting finance workforce effectivity 66 % by adopting the Sage Intacct cloud monetary administration resolution. Having outgrown Intuit QuickBooks, the brand new system enabled multi-entity monetary consolidations, reduce outsourcing prices by 40%, integration with different best-in-class purposes, unprecedented visibility into efficiency, and different scalable accounting greatest practices that helped the enterprise put together for progress.
Correct Neuromonitoring offers dwell monitoring companies throughout procedures for 400 surgeons. Because the group’s management accelerated their acquisition technique a few years in the past, the necessity for a extra strong monetary system led them to Sage Intacct. “With Sage Intacct, any new entity we convey on can simply fold proper in as we proceed to make acquisitions,” stated Tim Trexler, controller at Correct Neuromonitoring. “Even with our deliberate growth over the subsequent few years, finance headcount won’t transfer as a result of we will simply scale and nonetheless preserve our G&A expense practically fixed.”
With the assistance of consulting associate RSM, the corporate carried out the Sage Intacct clever common ledger to achieve a brand new dimensions-based chart of accounts and improved monetary processes, attaining the next outcomes:
- Elevated productiveness and reduce outsourcing prices 40%: Partly by integrating Sage Intacct with Invoice.com for accounts payable and Tallie for expense automation, the apply vastly streamlined a time-consuming month-to-month shut course of that beforehand required the assist of three outsourced accountants. Now, Correct Neuromonitoring’s receptionist enters A/P invoices as they arrive, workers route their very own expense reviews, and Sage Intacct routinely creates inter-company journal entries—so a single individual can handle all the firm’s monetary workflows in-house.
- Overhauled money movement and accounts payable processes: As we speak, the corporate’s finance instruments all sync in real-time, which helps cut back duties resembling accounts payable that used to take hours of knowledge entry, approval routing, and test writing every week to simply quarter-hour of oversight. Trexler stated, “Now that we’re capable of higher handle our money place in Sage Intacct and schedule funds with Invoice.com, we’ve improved money movement. We’re sitting on much more money than we used to, which brings flexibility to the enterprise, and I like that I now not have to have a look at money forecasts all day.”
- Gained multi-dimensional visibility and quicker board reporting: Sage Intacct’s versatile reporting helps entity groupings, dimensions for granular evaluation, and statistical accounts for operational reporting. These strong capabilities remove a cumbersome 30-tab board reporting worksheet and permit the finance workforce to shortly produce detailed reviews and dashboards for particular areas and entities to enhance selections.
- Grew EBITDA margin 30% by means of higher perception for selections: The corporate additionally makes use of Sage Intacct to investigate monetary and operational knowledge—each in a consolidated trend, and thru extra granular, real-time indicators of what drives income fluctuations, which surgeons work the best high quality instances, and which new areas are more likely to be most worthwhile. “Our CEO particularly appreciates that his Sage Intacct dashboard and efficiency playing cards provide a fast snapshot of our web income for the month or year-to-date and web income per case, which is the primary driver of our enterprise,” stated Trexler.
“As soon as we obtained Sage Intacct in place and all the pieces was buzzing alongside, I might get extra concerned in supporting the enterprise with forward-looking evaluation,” stated Trexler. “Now, I don’t need to push again on requests as a result of I’m busy doing the shut. I can have a look at new alternatives and be extra of an advisor versus being simply the nuts and bolts man dealing with the monetary knowledge.”
For extra data on how Correct Neuromonitoring advantages from the Sage Intacct monetary administration system, learn the full case study here.
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