industry
Healthcare & Life Sciences

Rehabilitating operating costs and process efficiency for a healthcare system

Key technologies:
  • BlackLine
  • Power BI​​
Value levers pulled:
  • Finance function transformation
  • Business process outsourcing
  • Process optimization
  • Financial close automation & acceleration
  • Robotic process automation
  • Procure-to-pay transformation
  • KPIs amd dynamic dashboards
  • Enterprise data warehouse

Picture this...

You’re a PE-backed leading operator of 130+ ambulatory surgery centers and 18 hospitals. Your rapid growth has made you outgrow your relatively immature processes and systems; each month, Accounts Payable manually processes 12,000 invoices and Accounting manually posts 4,000 entries supported by 5,000 reconciliations. You know this isn’t sustainable—especially because you’re anticipating even more growth.

You turn to Accordion.

We partner with your team to launch a multi-faceted finance function transformation. We do this in 4 workstreams:

  • Business Process Outsourcing (BPO) to an offshore location. In this workstream, we:
    • Oversee vendor selection and contract negotiations while managing transition governance and BPO compliance.
    • Develop employee retention strategies and support offshore growth and departmental integration.
  • Comprehensive process automation. In this workstream, we:
    • Automate the financial close process, implement robotic process automation, and create dynamic models and dashboards.
    • Streamline the accounting and accounts payable functions for efficiency and error reduction.
  • Procure-to-pay (P2P) transformation. In this workstream, we:
    • Lead a 2-day P2P workshop, identifying 9 workstreams
    • Establish governance across multiple departments
  • Enterprise data warehouse. In this workstream, we:
    • Develop a future-state Data Flow Diagram and data pipeline and creating a cross-system data dictionary
    • Establish data management processes and set KPI metrics with supporting documentation for sustainability.

Your value is enhanced.

You’ve successfully transformed your operating model to achieve significant ROI. Specifically, you:

  • Drive $3M in annual cost reduction by outsourcing 100+ full-time employees and redeploying your team to more value-add tasks
  • Replace manual time-consuming processes with faster solutions, improved controls, and increased visibility
  • Transform your P2P workflow through system architecture upgrades and workflow digitization
  • Make more informed business decisions as a result of better visibility in data and more accurate analytics
Enhanced value:

You reap multiple benefits, including:

  • Finance function transformation
  • Business process outsourcing
  • Process optimization
  • Financial close automation & acceleration
  • Robotic process automation
  • Procure-to-pay transformation
  • KPIs amd dynamic dashboards
  • Enterprise data warehouse ​​​