One area where SBS Financials really shines is financial reporting.
Recently, the CFO of a behavioral health provider who switched from integrated EHR financials to SBS accounting software reported reducing - from one week to a few minutes - time spent preparing a complex consolidated report.
Whoa - how did our system help him save that much time?
First, some background: The multi-entity report was required by a grant the organization received. The funds were distributed among numerous cost centers in varying amounts. The grant required that allocations be tracked individually, then rolled up into a single financial statement.
Before SBS, the healthcare accounting team exported financial data from the EHR system, then used Excel spreadsheets to manually produce the required report. It was error prone, tedious, and took a week's worth of work to get the numbers right, the CFO said.
After SBS, the consolidated report was set up to track spending by indiviudal organizational unit. With a single click, the multiple entities could now be rolled up into one financial report.
Want to see how consolidated reporting works in SBS? View our Multi-Entity Reporting Demo