How a savvy Healthcare Services firm defeated complexity to grow smart

Are you hoping to grow your Healthcare Services firms, but don’t want to deal with the hassle that comes with managing complexity?

Or maybe you are already dealing with the challenges that come with growth and want to find a smart solution to enable scalability.

If that’s you, then this savvy Australian Professional Services firm has something to teach you. This is the story of one of our most recent customers and was published on the MYOB Advanced website in December 2017.

The challenge of running a growing a Professional Services business

In 2017, a Professional Services organisations providing disability support along the East coast of Australia was facing a key challenge.

The growing complexity of its multi-company structure, which used multiple financial systems, was making it extremely hard to manage a staff of 2,500 professionals delivering disability support services across the country.

As a result of multiple acquisitions and exponential growth, the structure looked something like this:

• Multiple systems – Six different financial systems, each linked to a separate database and giving limited financial transparency to the management team. Information needed to be reconciled and consolidated manually.
• Limited accuracy of reports – Manual intervention and slow processing was giving the organisation very little ability to drill down and understand performance.
• Reduced operational performance – Sharing financial information with key decision makers was hard and time-consuming. As a result, local managers didn’t have enough data to make informed, proactive decisions.

One system to simplify threefold growth

Today’s professional services firms are overwhelmed by demanding clients, human capital challenges and lack of strategies. The number one dilemma for our client was – how to enable seamless growth without undergoing costly structural or operational changes.

Our consultants identified systems consolidation, information processing and better reporting as the key improvements to enable such growth for the organisation.

After implementing MYOB Advanced for our client and integrating it into various areas of their business, we can now look at overall improvements.

• Centralised database – the organisation now has a centralised platform and its finance teams are all able to get the information they need in real time and from anywhere, via the Cloud.
• Better reporting and proactive business – Decision makers are now able to access the reporting dashboards and drill down to see how the business is performing. Being able to break down the data and identify areas for improvement gives the business greater operational efficiencies.
• Less paperwork and manual data entry – Debtor and creditor management, invoicing and receipting have all been streamlined. The Finance staff estimates that the level of paperwork has fallen by 60!
• Interfacing with various business systems – MYOB Advanced interfaces with other key systems that the various departments use on a daily basis, such as Carelink. This means that the data flow between platforms is seamless and automated, saving people’s time and increasing accuracy.

Conclusion

If your Professional Services firm is undergoing a period of significant growth, chances are that your staff, systems and decision-making processes might be under pressure.

This is because you need to have measures in place for growth to happen and for your organisation to be able to cope with that growth.

In 2017, a Professional Services firm came to use with some serious integration and scalability challenges. Our consultants were able to recommend and implement the right system to enable scalable growth for that business in the coming years.

For more information on how MYOB Advanced can empower your Professional Service practise to grow smart call us on 1300 045 046 or email info@leveragetech.com.au.