Intacct Delivers Real-Time Financial Visibility and Control at Cirrus Health
Healthcare Provider Saves Time and Money Moving from Microsoft Dynamics GP to Intacct’s Pure Cloud Financial Applications
SAN JOSE, Calif., April 1, 2013 /PRNewswire/ — Intacct, a leader in cloud financial management and accounting software, today announced that Cirrus Health has replaced Microsoft Dynamics GP (Great Plains) with Intacct to consolidate all of its facilities on a single chart of accounts, automate several strategic reports, streamline its month-end close process, and implement financial standards across its various entities. These efficiencies have delivered savings of more than $160,000 each year in personnel costs, and at least 20 person-hours of reporting time each month – all while providing the organization with real-time visibility to effectively manage growth.
Cirrus Health owns and manages four active hospitals and ambulatory surgery centers across the United States. The company recognized the need to standardize its financial reporting and the collection of data across these facilities, as well as 40 other corporate and investment entities. As a result, Cirrus Health decided to replace its outdated Dynamics GP software with a cloud-based financial management system.
“We selected Intacct because we wanted a flexible solution that was purely accounting-focused, and could meet our needs for multi-entity management and financial control with minimal maintenance,” said Erin Horak, controller at Cirrus Health. “I used Intacct successfully for four years at my previous company, and I’m thrilled that Cirrus Health is now also benefiting from the reliable, real-time financial visibility and transparent audit trail that Intacct provides.”
With Intacct, Cirrus Health now has all of its facilities on the same chart of accounts, methodology, and account code system, which has not only streamlined processes but also allows the company to easily compare apples to apples. Cirrus is able to optimize its business decisions by looking at real-time comparisons for EBITDA, supplies expenses, and revenues across facilities.
“With Intacct’s pre-built financial reports and executive dashboards, our CFO and CEO can review key financial and operational data on their own, and easily drill into reports for a thorough picture of our performance,” commented Horak. “Intacct has also given us greater visibility into what our remote locations are doing without having to rely on them to answer questions.”
Cirrus Health has been able to eliminate several cumbersome spreadsheets that its finance team previously maintained manually, including cash forecasts, weekly cash transactions, and expense reports. Intacct’s automated processes have saved the team about 20 hours each month, while allowing it to take on financial management for two additional facilities and four other entities. In addition, Cirrus Health has been able to reduce its accounting headcount by two, which saves the company $160,000 per year in salary costs alone.
With Intacct, Cirrus has tightened its month-end close by about a day, and can now manage the entire process from its headquarters location, instead of requiring each facility to provide data and reports. And at tax time, Intacct makes researching items much easier because all entries and bills have supporting documents attached in the system. This avoids several days that were previously spent waiting for document retrieval as each facility located the requested tax backup from offsite storage. Now the central finance team can pull tax preparation documentation in a couple of hours.
“Now that we have a modern system like Intacct in place, we can rest easy knowing it will be able to handle our accounting operations, while removing the IT burden of maintaining unreliable hardware or obsolete software ourselves,” added Horak. “Intacct’s frequent feature updates mean that we no longer have to worry about patches or upgrades and can focus on making the most of our business insight and keeping our departmental costs down.”
Intacct is the cloud financial management company. Bringing cloud computing to finance and accounting, Intacct’s award-winning applications are the preferred financial applications for AICPA business solutions. Intacct applications, in use by more than 6,000 organizations from startups to public companies, are designed to improve company performance and make finance more productive. Hundreds of leading CPA firms and Value Added Resellers offer Intacct to their clients. The Intacct system includes accounting, contract management, revenue management, project and fund accounting, inventory management, purchasing, vendor management, financial consolidation and financial reporting applications, all delivered over the Internet via cloud computing.
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