Nav Level 1 - Customer Success

In a hospital setting, some decisions are made within minutes. Software company PowerHealth Solutions makes that decision-making easier with efficient corporate management tools for the healthcare industry. To also make quick business decisions, the Australia-based company needed financial insight at the same fast pace. Effectively and accurately summarizing key reporting metrics for board members required the reporting capabilities of the Adaptive Suite, and visual analytics and dashboards included flexibility to drill down into the data. The finance team continues to quickly deliver various reports that executives trust to make better and faster business decisions.

Challenges

  • Lacked monthly reports due to lengthy Excel-based financial reporting
  • Needed streamlined and in-depth financial planning and analysis for Board of Directors
  • Desired visual analytics

Results

  • Visual dashboards effectively summarizes profit and loss, cash flow, and various graphs
  • Improved data accuracy increased confidence in decision-making
  • Quickly and efficiently produce accurate monthly reports and visual analytics for Board of Directors
About:
PowerHealth Solutions provides software and integration services for patient costing, billing, and reporting for hospitals and other healthcare enterprises.
Location:
Adelaide, Australia
Industry:
Software and Technology

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Setting the Scene Pre-Adaptive

PowerHealth Solutions had an Excel-based financial reporting process that was time-consuming and tedious, preventing the company from generating monthly reports. Consequently, PowerHealth wanted to simplify its financial planning and analysis to enable its Board of Directors to more effectively make data-driven strategic business decisions during monthly meetings.

"We needed a way to efficiently create and maintain monthly reports and budgets to present to the Board of Directors, complete with high-level snapshots and detailed drill-downs into our individual product offerings," said Amanda Anderson, Chief Operating Officer.

Visualizing business performance for improved decision making

PowerHealth began looking for a solution that would allow them to achieve three goals:
• Create monthly financial reports in a timely, error-proof, and visual manner
• Increase the frequency and efficiency of reporting and drill-downs
• Present dependable reports to its Board of Directors

"At a prior company I implemented Adaptive, and I knew it would be the right solution for PowerHealth," Anderson stated. "The implementation was seamless, and the reporting templates and drill-down capabilities made monthly reporting efficient. Visual dashboards show summaries of profit and loss, cash flow, and various graphs that enable our executive team to make better and faster business decisions."

PowerHealth self-implemented Adaptive and found it to be a straight forward and intuitive process.

Quick Reporting on the Pulse of Business

Adaptive has helped PowerHealth significantly cut the amount of time it takes to create budgets and reports. Moreover, the reports are accurate for the Board of Directors to trust and rely on for making decisions.

"I can now produce accurate monthly reports for our Board of Directors in an efficient, quick, and visual way, which I couldn’t do with Excel," Anderson confirmed. "As chief operating officer, Adaptive Planning makes my finance role a smaller part of my job because I’m saving so much time on budgeting and reporting."

Reporting in Adaptive enables PowerHealth to compare actuals to its budget. Visual dashboards provide summaries of profit and loss, income by product and cash flow.

"We are now able to see which areas of the business are lacking," Anderson said. "We took all of those graphs out of our system by running reports, and we produce monthly reports in a few hours. Our Board of Directors is very pleased with Adaptive’s reporting capabilities."

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