MaineGeneral Health wanted to automate and consolidate key financial management functions across its three hospitals and eight business units, seeking a stable platform that would expand visibility of critical enterprise data, automate approval workflow, improve reporting functionality and enable e-commerce. The organization selected and implemented PeopleSoft applications for financial management, accounts payable, asset management, project costing, purchasing, inventory management and eprocurement. The system will help the organization improve financial positioning visibility; reduce administrative costs—including payment-processing costs; and improve employee productivity by providing an integrated solution with broad functionality.

"Our legacy environment included two financial systems that were not integrated, requiring significant duplicate manual data-entry and daily faxing and filing of large numbers of invoices for multiple business units," said MaineGeneral Health Project Manager Sheila Nielsen. "With PeopleSoft's automation and consolidation functions, we can operate in a nearly paperless environment in which we electronically enter invoices and other financial data once -saving time, improving data accuracy and reducing costs."

Leveraging PeopleSoft's cross-module validation capabilities, MaineGeneral Health can integrate and validate data from its materials and accounts payable systems and general ledger and asset systems to improve process efficiency and ensure data accuracy. Further, the solution allows the organization to automate inter-company purchases and allocate expenses to each business, as appropriate.

"As we evaluated software options, PeopleSoft Enterprise Financial Management proved to be a robust solution and the best fit for our organization, delivering unmatched features and functions to meet our unique business needs," said Nielsen. "With nearly 700 users on the system, we look forward to improving overall financial transparency and business decision-making."

Oracle's PeopleSoft applications provide MaineGeneral Health with enterprise-wide visibility into financial data and expanded reporting capabilities that will help the organization close financial books much faster. MaineGeneral Health expects to decrease the time needed to close its books from 21 days to 10 days. In addition, by accelerating the payment process, the institution can take advantage of rapid pay discounts, which were difficult to take advantage of with the organization's legacy system.

"With increased pressure to reduce costs, healthcare providers continue to seek ways to improve efficiency across complex organizations," said Oracle Vice President of Health Industries Mychelle Mowry. "Oracle's applications enable healthcare providers, like MaineGeneral, to effectively manage and streamline their financial processes, allowing them to redirect resources toward their core mission of delivering effective and efficient patient care."

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About MaineGeneral Health

MaineGeneral Health is the parent corporation of a network of acute care hospitals, physician practices, long term nursing care, and assisted living and retirement communities.

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