Mastering operational efficiency with Sage Intacct

The company’s legacy system, American HealthTech (AHT), was struggling to keep up with the demands of its expanding business operations. Challenges included limited scalability and inefficiencies that were an obstacle to growth:

• Limited consolidation: AHT was facility-specific, meaning each location operated independently, making it impossible to generate organization-wide consolidated reports. This lack of visibility across the entire organization hindered strategic decision-making and created data silos.
• Time-intensive workflows: Entering daily transactions and pulling financial data required staff to switch between dozens of entities manually. This process was not only time-consuming but also prone to errors, reducing overall operational efficiency.
• Manual reporting: Consolidated reports had to be manually prepared in spreadsheets by the finance team, which took significant time and effort. This manual approach also increased the risk of mistakes, further straining valuable resources.
• Cumbersome intercompany transactions: Allocating vendor invoices across 32 entities was a tedious process that involved creating separate transactions for each entity. This added unnecessary complexity to the workflow and significantly increased the administrative workload for the accounting team.
• Invoice management: Payable invoices were manually scanned and emailed by each location, resulting in delays in processing and increasing the likelihood of entry errors. This decentralized and outdated approach made it challenging to maintain consistency and accuracy across all locations.

Following the transition to Sage Intacct, supported by the expertise of Rand Group, the organization experienced significant improvements in their financial processes. The move to Sage Intacct streamlined their operations, provided greater visibility into key metrics, and enhanced overall efficiency, empowering them to make more informed business decisions.

• Enhanced reporting: Sage Intacct produces automatically consolidated financial reports, significantly improving accuracy and saving time compared to manual, Excel-based processes. Custom reporting capabilities provide deeper insights, enabling the company to analyze data by specific factors such as regions, urban vs. rural locations, or even individual facilities.
• Operational efficiency: Intercompany transaction processing time has been drastically reduced, cutting down administrative workloads and freeing up resources for other critical tasks. Automated bank feeds deliver real-time cash flow analysis, allowing for quicker financial reconciliations and improved visibility into day-to-day cash management.
• AP optimization: Electronic invoice processing has minimized data entry errors and reduced paper usage across 32 facilities, promoting more sustainable practices and increasing accuracy in accounts payable operations. Approval workflows are streamlined to ensure faster, more accurate invoice handling, enabling teams to process payments more efficiently.