SAN JOSE, Calif. – June 25, 2013 – Intacct, a leader in cloud financial management and accounting software, today announced the findings from Nucleus Research on Renal Ventures Management’s use of Intacct to streamline its financial processes and improve business reporting across its network of more than 30 dialysis clinics. In a newly released case study, Nucleus Research found that the implementation of Intacct’s cloud financial applications resulted in increased productivity and visibility across the organization, as well as better positioning for growth. The report notes that Renal Ventures achieved a return on investment (ROI) of 154% with a three-year average annual benefit of $163,412.
“In reviewing Renal Ventures’ switch to Intacct and the resulting benefits, we found significant value from the organization’s use of Intacct’s cloud financial applications,” said Rebecca Wettemann, vice president of Nucleus Research. “It’s always satisfying to see companies accomplish this level of technology ROI and lead the way for other businesses in their industry and beyond.”
Below is a quick overview of the report:
Previous Business Challenges Faced by Renal Ventures:
- Inefficient data collection across the different instances of QuickBooks used by each clinic
- Lack of visibility and accurate reporting as a result of consolidating data in Excel
- Inadequate preparation for growth due to challenges finding information required for effective financial management
After evaluating Intacct, NetSuite, and Microsoft Dynamics, Renal Ventures selected Intacct as its financial management system of record because of its cloud delivery model, ability to consolidate data from multiple financial entities, and the flexibility of Intacct’s reporting structure.
Results with Intacct:
- Streamlined financial accounting and consolidation decreased time spent on monthly reports from one day to two hours, and reduced the monthly close process by days
- Increased productivity minimized finance staffing needs despite company growth, avoiding 2.5 full time employee hires
- Improved visibility and accuracy provides executives with better and more complete data from which to make decisions
“With Intacct, we now have a single chart of accounts and consolidated financials, which has allowed us to virtually eliminate manual processing of financial data outside the application,” said Dan Orlinski, senior finance director at Renal Ventures Management.