Delivering better care through smarter financial management
Central Management Company LLC, a family-owned Louisiana business, has provided senior living care for over 55 years through 22 skilled nursing facilities and home health agencies. With a mission of “Improving Quality of Life,” the company’s 3,300 staff members work with healthcare professionals to deliver personalized care. When their financial accounting system was acquired by a new platform, Central Management faced significant operational challenges. They partnered with Rand Group to adopt Sage Intacct for financial management and begin a broader digital transformation.
Client: Central Management Company LLC
The Goal
Enhance operational efficiency and decision-making by modernizing Central Management’s financial management system and processes.
The Outcome
A faster, more efficient, and data-driven financial management system that enabled improved care delivery and organizational growth.
Without Sage Intacct, we’d be operating nearly blind. Now, data is converted swiftly into actionable information that our administrators can easily interpret and utilize for rapid decision-making.
The problem
Central Management’s legacy financial systems were becoming obsolete and burdensome, presenting several challenges:
- Reliance on outdated software: Their system, originally implemented in the 1980s, had become a major obstacle to growth and efficiency. Moreover, it lacked the flexibility to adapt to modern business needs.
- Cumbersome reporting processes: It required extensive manual effort to generate critical financial metrics. Staff compiled reporting manually, consuming significant time and resources, which slowed down decision-making and left room for errors.
- Disjointed workflows: The existing system was unable to integrate financial, operational, and payroll data smoothly. This created silos within the organization, requiring additional steps to reconcile data across departments, wasting time and creating inefficiencies.
- Limited visibility: Administrators were unable to access real-time data, making it difficult to make quick, informed decisions. This lack of visibility was especially problematic at the individual facility level, where unique issues and challenges often went unnoticed until they escalated.
- Paper-intensive processes: The accounts payable system was heavily dependent on manual processes, such as paper approvals for invoices and payments. This not only increased administrative overhead but also caused lengthy delays.
Manual processes led to operational inefficiencies
The solution
Rand Group guided Central Management in adopting Sage Intacct to modernize their financial infrastructure while maintaining operational flexibility. Here’s how Rand Group helped overcome their challenges:
- Comprehensive transition support: Facilitated a seamless migration to Sage Intacct, 30 days ahead of schedule, replicating customized reports with ease.
- Integrated systems: Linked Sage Intacct with PointClickCare for clinical data and UKG for payroll processing, consolidating financial and operational workflows.
- AP automation: Introduced Stampli for accounts payable automation, eliminating manual paperwork and ensuring faster approvals.
- Training and independence: Configured Sage Intacct to empower administrators with the ability to generate reports in real-time without relying on the finance team.
- Strategic insights: Provided advanced reporting and budget management tools to streamline expense tracking and improve financial planning.
The result
After moving to Sage Intacct and with guidance from Rand Group, Central Management experienced remarkable improvements in financial management and overall operations:
- Improved reporting: The team significantly reduced time spent on month-end close and consolidated financial reporting. Moreover, the reports are significantly more insightful.
- Enhanced decision-making: Real-time data access allows administrators to make strategic, informed decisions on staffing, budgeting, and performance monitoring.
- Efficiency gains: Through an integration with Stampli, Sage Intacct modernized the accounts payable process, significantly reducing administrative workload and boosting morale.
- Uncovering automation opportunities: Discovered more opportunities to automate processes, such as expense allocations and prepaid expense management, eliminating redundant manual entry.
- Digital transformation sparks innovation: Using Sage Intacct as a springboard, Central Management embraced broader technological advancements. Automations in expense allocations and prepaid expense tracking replaced labor-intensive spreadsheet management, enabling team members to focus on high-value tasks.
days saved in migration timeline
separate locations now easily consolidated
