By Virginia Jones, chief operating officer, Village Family Dental.
Scaling operations amidst growth can be difficult; staff begin to feel strapped for time which can lead to burn out and companies can get stuck with legacy technology. However, as a company grows into the mid-sized market, it’s normal to outgrow the tools and resources that helped them get there—sometimes it’s time for a change.
Village Family Dental is a multispecialty dental practice in North Carolina founded in 1985. In the span of a couple of years, our dental practice expanded from three to 11 locations and three ambulatory surgery centers. The company was growing at a significant rate, and our lean finance team needed to find a way to better manage the many financial workflows associated with these multi-entity operations.
We had outgrown our legacy on-premise accounting software, so we upgraded to Sage Intacct, a cloud-based solution that could more effectively handle our growing transaction volumes and automate manual data entry.
Prior to the new software implementation, our team was performing numerous manual tasks. In fact, one of our controllers was spending all of her time on manual journal entries and double-entering information from our payroll and patient management software.
Since deploying the software, our finance team was able to effortlessly scale with the booming business, increasing efficiency by 25%. In addition to offloading other tedious tasks, automating recurring entries, allocations and intercompany payables and receivables, the new technology’s consolidating and reporting capabilities enabled our team to deliver departmental reporting in under 10 minutes, a dramatic change from the 10 days it took previously.
We’ve also integrated several partner systems, including a Workforce Go payroll solution that transfers pay summaries by both department and by the provider, and our Hybrent purchasing software which provides real-time pricing and shopping for office coordinators, with orders and invoices pushed seamlessly from the point of purchase into Sage Intacct.