SAN JOSE, Calif. , March 16, 2016 /PRNewswire/-- Intacct, a leading provider of best-in-class cloud ERP software, and LBMC Technology Solutions, an Intacct partner and leading technology consulting and business software firm, today announced that University Clinical Health (UCH) chose Intacct to dramatically shorten its monthly close process and improve the organization's cash flow. UCH selected Intacct for its new ERP system in favor of NetSuite due to Intacct's flexibility, ease-of-use, and significant cost savings.
University Clinical Health is a nonprofit organization that offers quality primary and specialty healthcare from over 100 renowned physicians who also serve on the faculty at the University of Tennessee College of Medicine. The UCH finance team wanted an ERP system that would provide better transparency into its multi-entity, multi-location financial data, required less manual data entry and IT resources, and supported paperless workflows. In addition, the organization needed a flexible solution that could easily connect with its existing payroll and integrated care software.
UCH worked with Intacct implementation partner LBMC Technology Solutions to set up Intacct to meet its needs and execute a painless conversion. LBMC helped UCH significantly improve reporting and tracking of its multiple locations and entities with Intacct. UCH estimates that Intacct is saving its organization well over $500,000 each year from reduced staffing and IT costs compared with what it would have needed with its previous CODA Financials system. In addition, Intacct enabled UCH to: streamline its multi-entity reporting and consolidations process, automatically generate contract-based invoices for partner facilities, and achieve a granular visibility down to the physician level, fostering greater accountability for individual performance.
In a new case study published today, Intacct highlights the results University Clinical Health achieved by using Intacct's cloud ERP software. The full customer profile is available for download at: http://us.intacct.com/customer-success-stories/university-clinical-health. Here is a quick overview:
UCH's results with Intacct:
- Saving more than $500,000/year in staff and IT costs
- Freed 8 days/month by automating invoicing, accounts receivables, and reporting
- Shortened monthly close by nearly 40%
- Improved positive cash flow by $125,000
Highlighted comments from Timothy Carlew, controller at University Clinical Health:
"We evaluated NetSuite and Unit4 Financials before settling on Intacct because it was by far the most flexible and complete system. Given our constantly shifting business environment, we knew we'd benefit greatly from Intacct's ease-of-use and the simplicity with which it can adjust to our evolving requirements on the fly."
"With the time we're saving from mundane processes, we're able to focus on really understanding what drives our business and monitoring key trends, such as the rising expense of medical supplies and medications. Now we're truly a partner to the business – helping make strategic decisions about how to get our costs down, as well as where to invest in new ventures as we enter growth mode."
"It's so helpful that we can drill into a deeper view of our data as needed, or roll everything up to a very high-level picture of our financials for board meetings – all from the same reports. We also love our executive-level dashboards, which include impactful Intacct Performance Cards that display flash metrics to help our CEO and executive director monitor how we're doing with cash flow and gross margin from week to week, month to month, and year to year."
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About LBMC Technology Solutions
LBMC Technology Solutions, LLC is an award winning, comprehensive IT and business consulting firm. The company has two decades of proven experience working with organizations on their core business needs. This includes financial and business management software, network infrastructure, and cloud based solutions.
LBMC Technology Solutions differentiates itself from other providers by offering a consultative approach to each company's needs in order to provide a 'best in class' solution that helps them improve productivity, reduce complexity, and strengthen ROI. With three offices throughout Tennessee, LBMC Technology Solutions services small to Fortune 500 companies across the Southeast. Services include implementation, training, and support of Financial, CRM, SharePoint, and Enterprise Content Management (ECM) software solutions as well as network systems engineering, remote managed services, business intelligence and custom software development.
For more information on LBMC Technology Solutions, visit www.lbmctech.com.
Intacct is a leading provider of best-in-class cloud ERP software. Bringing cloud computing to finance and accounting, Intacct's award-winning applications are the preferred financial applications for AICPA business solutions. In use by more than 10,500 organizations from startups to public companies, Intacct is designed to improve company performance and make finance more productive. Hundreds of leading CPA firms and Value Added Resellers also offer Intacct to their clients. The Intacct system includes accounting, cash management, purchasing, vendor management, financial consolidation, revenue recognition, subscription billing, project accounting, fund accounting, inventory management, and financial reporting applications, all delivered over the Internet via cloud computing.
Intacct and the Intacct logo are trademarks of Intacct Corporation. All other company and product names mentioned herein may be trademarks of their respective owners.