The business environment within Long Term Care poses unique challenges to profitability. Overseeing financial performance across multiple departments, facilities and locations requires a level of insight beyond what generic accounting software can deliver. All-in-one LTC packages provide some accounting functionality, but lack the extended features and reports you really need. How can you sustain a fiscally sound organization when you’re battling disconnected systems, time-consuming processes and inaccurate data?
By replacing outdated accounting systems with more powerful solutions like Sage Intacct, senior living facilities can reap many benefits. Here are the 4 main efficiencies that can be gained:
Reporting – it is critical to generate accurate reports from census data, but that can be a difficult and time consuming task without a solid reporting package. With Intacct’s Dimensions, you can filter data very easily to create reports quickly.
Drill Down Capability – it is not enough to simply know that costs are rising, you need to know why. Intacct features an unlimited number of dashboards which makes it easy for management to drill into data and gain the insight they need to take action.
Managing Requisitions – this is often a manual process, and for organizations with multiple sites and facilities, it can be extremely time consuming. Intacct offers automated workflows to streamline purchasing.
Grant Management – many organizations are tracking grants in a separate software package or by using Excel. With Intacct, this can be handled with financials, and provide the tracking and ability to meet new NFP reporting requirements