Case Study | GMHBA Limited
CHALLENGE Removing the necessity of re-keying information and developing an intutative system that would provide insight into the business.
SOLUTION Greentree Financial Management Software Suite.
RESULTS With rising costs of providing health care combined with an aging population, many health funds are expected to face a number of challenges over the coming years. With a solid financials and reporting system now in place, GMHBA is certainly better prepared to face these future challenges.
GMHBA had been a CBA customer for many years decided that it was time to update its financial system. According to Tony Ficca, GMHBA’s Finance Manager and Company Secretary, the organisation spent considerable time reviewing a number of mid-range products before selecting Greentree. With the implementation of a new system it wanted to improve on several key areas, including financial reporting.
“CBA reports, while they were adequate, didn’t allow a lot of flexibility and took quite a long time to process and print,” says Tony. “When the reports came out we would have to re-key the values into Excel in the format we wanted,”
“Now to get our financial reports directly out of Excel, we just press a button and they are there immediately. The integration between Excel and Greentree is very impressive and our month-end reporting is now much more streamlined.”
GMHBA also took the opportunity with the new system to redesign its chart of accounts, better reflecting its business and reporting structures. A variety of financial reports have been defined in Excel, with live links to the Greentree Database. Reporting is immediate, accurate and real-time; giving all users of the financial reports key data and information regarding the company’s performance in a timely manner.
Most of the GMHBA’s data processing requirements are managed by a specialised application for health funds operating on separate Unix system. Summarised financial information is loaded into a spreadsheet and journals are posted directly to Greentree.
Tony explains, “The main problem we had with CBA was that our figures were all keyed in manually. Using Excel, we have set up a worksheet with the accounts to post to define in a template. We just upload it – it’s fantastic.”
Would you like to know how Kinetic can provide a solution like this for your business?