Explore New Financial Frontiers with Real-Time Reporting and Visibility
Among the many factors that contribute to smooth operations for your clinic or medical business, visibility is paramount. After all, the best business decisions are made from a place of insight and comprehensive knowledge about the financial standing of a company. Without this crucial information, businesses in the healthcare industry may not only suffer the consequences of making poor financial decisions, but fall behind in other areas, such as tracking patient care and treatment progress.
Fortunately, Sage Intacct—a best-in-class accounting solution—allows for accurate and precise data analysis, so medical companies can have a true understanding of their finances. Below, we’ve listed a few of Sage Intacct’s reporting features that can revolutionize financial operations for your medical business, empowering data-driven decisions and promoting success.
- Best-in-Class Customizable Dashboards
Sage Intacct enables the creation of personalized dashboards, and offers a wide range of graphical and tabular reports. These dashboards can be tailored to specific roles or departments, providing real-time visibility into key financial metrics, such as revenue, expenses, cash flow, and profitability—all of which are essential to key stakeholders.
By leveraging the software solution’s dashboards, medical businesses can increase their agility, dive beneath the surface with custom reports, and perform more optimally.
- User-Defined Dimensions
Building on the above, Sage Intacct supports user-defined dimensions, which are customizable categorization elements that allow for flexible reporting and analysis. Users can define dimensions such as departments, projects, locations, or products, and assign transactions and accounts to these dimensions. This enables users to generate reports that provide visibility into specific areas of the business based on the defined dimensions.
- In-Depth Financial Reporting
Gain access to 150 built-in financial reports, including income statements, balance sheets, cash flow statements, and more. These reports offer a clear overview of a hospital or medical clinic’s financial performance, enabling stakeholders to assess profitability, liquidity, and overall financial health. These reports make it possible to ditch old-school Excel reporting, or other outdated tools that may be arduous and inefficient to use.
- Consolidated Reporting
For multi-entity health organizations, Sage Intacct supports consolidated reporting, allowing financial statements to be aggregated across hundreds of entities within minutes and boosting productivity by more than 50%. This feature helps provide a consolidated view of the entire company’s financials, promoting better visibility into overall performance. It also enhances agility while saving time and reducing costly errors.
- Real-Time Visibility
Sage Intacct integrates with various data sources, including general ledger, accounts payable, and accounts receivable. As transactions and financial data are entered into the system, they are immediately captured and stored in real-time, meaning that all reports are based on up-to-date financial data. This real-time access to information ensures that decision-makers have accurate and current insights into the financial status of a clinic or healthcare organization, enabling thoughtful and spur-of-the-moment decision-making.
To begin reaping the benefits of unparalleled transparency and insight into your medical company’s financials, reach out today.