Companies are rapidly embracing Software as a Service (Saas) — an on demand software delivery model — as a fast, efficient and economical method to provide employees and customers connectivity to critical data and functionality.
A startup firm needed a way to differentiate itself from larger competitors in the healthcare space and it needed a mechanism to keep system costs low so it could focus its cash flow on resources that generate revenue.
Business Automation Experts developed a custom software system that addresses all of the repair management functions for the firm. The firm was able to grow from 2 million in revenue to 25 million in revenue in a six year period. It was able to achieve this growth because the system captures the core information of the repair management process and it allows many people the ability to collaborate on the repair process. So a staff of sales people can stay up to date on the repair status for 20-30 customers each and remain focused on delivering exceptional service to those customers.
Software as a Service benefits can be quite dramatic!
One example of the efficiency of the system and cost effectiveness of it can be seen in the order to cash cycle. At many firms it requires 2-3 people per 10 million in collections, in the medical space. Hospitals are difficult to collect from and love to make it a challenge to issue a check. To support 25 million in revenue this firm uses 1 full time biller, and she spends 30-40% of her time collecting revenue as well. The days sales outstanding (time to collect the money) is 50% lower than most competitors so this firm has been able to grow more quickly since it can keep the Accounts Receivable (AR) lower and the costs to collect that AR low.
It’s time to transform the way you do business!
Let’s discuss how Software as a Service solutions may create meaningful change in your organization.
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