John Kearns, Chief Financial Officer of IntegraMed, had a real challenge on his hands. His company was continually opening new fertility and vein clinics throughout the U.S. Every time they added a new clinic, IntegraMed’s MAS 500 system required a complete new implementation for that new clinic, including chart of accounts, vendors and configuration. His accounting team was spending hours creating new companies, setting up intercompany transactions and creating consolidating reports to reflect its growing portfolio of clinics. In addition, processing vendor invoices from multiple locations and satisfying managers’ reporting requirements was a serious burden on his staff. All in all, their finance system was not scalable for their rapid growth.
BlumShapiro’s Consulting group implemented cloud-based Intacct financials in a multi-entity shared environment, as well as Intacct’s Web Services, which connected their general ledger to IntegraMed’s proprietary data warehouse for operational reporting.
“We invested the time to go on-site to IntegraMed and meet with all of their key executives to share our expertise on best practices and business processes. This collaboration resulted in a jointly developed, shared vision of how their finance operations should work while providing them with the scalability desired as they march towards their strategic goal of being one of the largest fertility and vein service providers in the world,” said Jim Clarkson, Partner with BlumShapiro’s Consulting group.
Despite their complex and challenging high-growth, multi-location environment and simultaneous conversion to a common chart of accounts, all IntegraMed locations were up and running with Intacct in less than six months.
IntegraMed continues to grow rapidly and, in the past year, has been able to manage this growth without adding any finance staff.
Adding a new entity now takes seconds, rather than days, of unnecessary effort.
The Intacct multi-entity shared environment has allowed IntegraMed to easily view company-wide spending by vendor in order to assist in purchasing negotiations.
IntegraMed has accelerated their month-end close by several days, allowing finance information to be available in a much more timely manner.
- Their new, streamlined reporting process now easily accommodates all of their multi-entity, multi-level reporting challenges, and provides self-service access to financial reports for management teams across the country.
IntegraMed recently won an Intacct Customer Success Award. Learn more about their success: