Health Services Management Company Finds Microsoft Dynamics GP is the Right Rx for Financial Consolidation Pains

If you’re in the health services industry, you know how important it is to have accurate and timely information to keep track of patient billing, financial statements, and more. One of our clients manages the financials of over 17 different companies and was feeling this pain while working with an unsupported version of Lawson. They manage everything from accounts payables to accounts receivables for these health clinics as well as all of the patient billing. They were doing all of this manually, which quickly became overwhelming to their employees and very frustrating for the clinics they worked with.

The information they pulled from Lawson took so long to gather that it was no longer relevant once they had it in hand. The data was also inaccurate because of the manual transactional entry needed to run their reports. They just couldn’t rely on the reporting and struggled with maintaining good relationships with their health clinics.

Eager for a solution, they came across Microsoft Dynamics® GP and The TM Group, a Certified Microsoft Dynamics Partner with dual Gold competencies in ERP and CRM in Michigan, to help them get through this crisis. With someone there to support them, it  took just less than 90 days to implement the Advanced Management bundle for Microsoft Dynamics GP with General Ledger, Fixed Assets, Accounts Payable, and Accounts Receivable. Within just two months of having their solution in place, they are really hitting their stride with streamlined financial reporting, accurate data pulls, and integration capabilities.

Before Microsoft Dynamics GP, our client did not have integration with their third party system that sent out patient billing. Now, by using SmartConnect by eOne, they can easily export the data from their third party system, import it into Microsoft Dynamics GP’s General Ledger avoiding all manual data entry, and have a full summary view of their financial status across each of their companies. They run this on a weekly basis so their companies have timely and relevant updates to share with their stakeholders. Our client can now trust the data they pull because of the importing/exporting capabilities within SmartConnect and its integration capabilities with Microsoft Dynamics GP.

By using Management Reporter for Microsoft Dynamics ERP, they no longer need to track financial statements within Microsoft Excel. Management Reporter streamlines financial reports through consolidated statements, bringing in information for all of their 17+ entities. They are saving about a day and half of labor time with Management Reporter for creating their financial statements. They also always have full insight into where they stand as a whole as well as where each of their companies are at financially.

In addition to this consolidated view, they can also streamline their accounts payable through intercompany transactions. Intercompany has allowed them to use one of their companies for paying bills where multiple companies’  General Ledger accounts are affected.  For example, let’s say two of their companies purchased envelopes; the envelope supplier can put these charges all on one invoice and our client can enter the invoice and pay the bill to the vendor while hitting the expense accounts for both companies all within one transaction. This has greatly simplified invoicing and billing for our client, saving time and increasing business insight.

Although they have only been live a for few months, our client is definitely seeing things in a new light. They can focus on streamlining their business processes versus double checking the data they manually retrieve from their accounting solution. As with any change, it can take some time to get up and running, but the robust capabilities of Microsoft Dynamics GP and the support of a Microsoft Dynamics partner is an ideal combo. Our client is hitting their stride when it comes to streamlined business operations and accurate financial data.

By The TM Group, Michigan  Dual Gold Certified Microsoft Dynamics ERP and CRM Partner for Microsoft Dynamics GP, Microsoft Dynamics SL, Microsoft Dynamics NAV, Microsoft Dynamics CRM and SharePoint

Health Services Management Company Finds Microsoft Dynamics GP is the Right Rx for Financial Consolidation Pains is a post from: ERP Software Blog

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