ATLANTA – January 30, 2019 – Sage (FTSE: SGE), the market leader in cloud business management solutions, today announced that Lutheran SeniorLife has utilized Sage Intacct, a solution available in Sage Business Cloud, to centralize its financial systems across 24 entities. This enables staff to spend 50% of their day focused on the strategy of how to reach mission goals, versus only 10% before. Planning cycles were reduced by 400%. This strategic shift led to a 10% increase in grant reimbursements.
Lutheran SeniorLife, a social ministry organization of the Evangelical Lutheran Church, provides elders with living communities, community-based health, wellness, and social services at a variety of locations in Western Pennsylvania.
When Lutheran SeniorLife acquired several visiting nursing and human services organizations, the chart of accounts and financial processes got out of hand, and its finance team decided to centralize core functions and move all 24 entities onto one robust platform. To address this, the organization sought a robust, user-friendly solution that would optimize and consolidate their financial management system, as well as connect with their clinical system, HealthMEDX.
With Sage Intacct’s streamlined, paperless processes, Lutheran SeniorLife has been able to easily consolidate the diverse systems and boost efficiency by 30%. The organization has reduced costs by eliminating manual accounts payable and automating intercompany transactions, budgeting, employee expense reimbursement, and inventory management processes.
“With Sage Intacct, we’re tearing down walls and gaining transparency into both our spending and collections across all locations and thousands of employees,” said Lutheran SeniorLife accounting manager William Thompson. “As a result, we decreased days sales outstanding by around five percent and improved our cash flow over ten percent.”
After implementing Sage Intacct, Lutheran SeniorLife realized significant benefits, including:
- Access to real-time financial data to increase visibility: Personalized dashboards enable easy access to key metrics and statistical data, improving visibility into resident costs and staff utilization, and accelerating the company’s planning cycles by 400%.
- Shifted focus to analytic decision-making: Significant reduction in manual work, with a shift in spending 10% of staff time on strategic tasks to now spending 50% on forward-thinking strategic initiatives.
- Efficient and accurate compilation of cost reports: Ability to create robust cost reports fast required by the Centers for Medicare and Medicaid Services has led to a 10% increase in grant reimbursement amounts.
“Sage Intacct’s visibility into our financial information has increased management’s focus on cost efficiency, driving a significant shift of at least 2% in operating revenue,” said Clyde Hardt, Lutheran SeniorLife Controller. “Now managers can easily see their spending compared to prior years, planned budgets, and employee counts, so they’re motivated to optimize operations.”
For more information on how Lutheran SeniorLife uses Sage Intacct, view the full case study.