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Oracle Customer Success — Promise Healthcare, Inc.
Promise Healthcare Improves Financial Processes with Oracle ERP Cloud
ShareWith Oracle Enterprise Resource Planning (ERP) Cloud we established a more modern, single view of financial data for all our 18 long-term acute care hospitals and 2 skilled nursing locations—providing a foundation for increased visibility into our organization and improved financial control.
— Stan Grabish, Senior Vice President, Strategic Planning and Financial Analysis, Promise Healthcare, Inc.
Promise Healthcare Modernizes Business and Integrates 20 Facilities’ Financial Processes with Oracle
Promise Healthcare, Inc. is a specialty post-acute care health system. With 20 facilities nationwide, the organization utilizes an interdisciplinary approach in providing treatment for critically ill and medically complex patients.
To increase operational efficiency, Promise Healthcare deployed Oracle ERP Cloud as a single enterprise resource planning (ERP) system across its 20 hospital facilities. The organization’s goals were to enhance visibility into timely and accurate financial information using real-time data sharing and analysis.
Challenges
- Deploy a complete ERP solution in the cloud, to integrate and manage financial processes for 20 post-acute care facilities
- Standardize, streamline, and enhance business processes—particularly around financial analytics and financial close—to increase cost efficiencies
Results
- Deployed Oracle ERP Cloud across Promise Healthcare’s 20 facilities nationwide—enabling management to make more informed and timely decisions by gaining real-time access to financial data
- Automated cash management features, enabled accounting to more easily track fixed assets, and automated financial reporting, thus ultimately saving Promise Healthcare’s four accountants two days each by eliminating manually-intensive spreadsheet-based processes
- Helped Promise Healthcare to get closer to its goal of reducing financial close from more than 20 business days to less than 10 days
- Automated payroll processes to save the organization’s accountants several hours each per month, and made viewing general ledger activity much easier and more robust
- Improved invoice processing with scans of invoices directly into Oracle Financials Cloud—saving on shipping costs and reducing processing time
- Completed accounts payable transactions faster via streamlined, automatic invoice payment processing
- Established a single system for supply chain processes to provide management much greater visibility into purchasing, receiving, and warehouse functions
We looked at Workday and Lawson, and found that only Oracle Enterprise Resource Planning Cloud offered the functionality that we were looking for on both the materials management and financials fronts.
— Stan Grabish, Senior Vice President, Strategic Planning and Financial Analysis, Promise Healthcare, Inc.
Execution
Promise Healthcare began its Oracle ERP Cloud implementation in July 2016, and went live in March 2017.
About Promise Healthcare, Inc.
Headquarters
Boca Raton, FL, United States
Employees
5,000
Annual Revenue
US$500 million
As a post-acute care health system, Promise Healthcare provides specialty care for patients who require a longer acute care recovery period. The organization specializes in the treatment of complex, acute, and chronic conditions due to catastrophic illness or severe injury. With 5,000 staff members and 22 facilities (STAC, SNF, and LTAC combined) nationwide, it utilizes an interdisciplinary approach to healing and wellness.
Partners
“Travercent was a true partner, acting as the lead implementation consulting team, and guiding us through the various Oracle ERP Cloud modules as well as what we needed to do to ensure a smooth go live,” Grabish said.
Oracle Solutions Used
Published: Oct 03, 2017