HSG is a leading healthcare consulting firm that helps hospitals and other healthcare providers develop physician networks, optimize strategy and transition to value-based care. But its own financial management processes were ailing until HSG upgraded from QuickBooks to Sage Intacct.
For instance, HSG consultants would enter time and expenses into a standalone application. Then it was up to HSG Finance Manager Lisa Nicholson to extract that data, and enter it manually into QuickBooks and a separate payroll application.
“When we were on QuickBooks we had a lot of issues because we didn’t really have a good resource management part of it, or time and expense management,” as Nicholson explains in a Sage Intacct customer success video. “It was like triple entry, and it was a lot of work.”
That’s just one of the many time-consuming limitations that HSG, based in Louisville, Kentucky, has eliminated with Sage Intacct. The company has dramatically accelerated financial processes, saving time and money while gaining real-time visibility into the business since deploying the Sage Intacct cloud financial management platform.
Billing is one example. Previously, it took three people to do billings every two weeks —and still it was difficult to complete the job on time.
“Now we’ve got it streamlined because everything flows so nicely from time and expense. I’m the only one who does billings now, and I get them out 100% faster than before,” Nicholson said. “Of course that helps cash flow and the partners love that.”
Breakthrough Business Insights
HSG is also closing its monthly books 100% faster, Nicholson noted. But beyond greater speed, HSG has business insights that simply weren’t possible with QuickBooks and Excel, and that’s driving data-driven decisions that impact profitability.
“Before the partners were so busy that they might only actually review reports and things like that once a month, once every two weeks,” Nicholson said. “But now they can see everything in real time, they can look at the dashboards whenever they want and they can make decisions more proactively instead of reactively.”
Partner self-service eliminates delays of asking finance to generate a special report. And meanwhile, HSG uses dimensions to delve into highly granular reporting that covers revenue lines, client sizes, profitability and more. With those insights, management can make informed decisions on tactics and strategy.
Similarly, project managers for the first time have real-time tracking of budgets vs. actuals for a given client project, helping ensure that projects are delivered on time and on budget. All told, HSG now has an agile, scalable foundation geared for growth.
“With Sage Intacct, as we grow our revenue and we grow our transactions, I'm pretty confident that we won't have to add as much manpower to handle all that because everything is so seamless and so simple within the software,” Nicholson said.
Hear Nicholson explain the benefits that HSG has realized with Sage Intacct in our customer success video.