AcctTwo Blog

VirMedica Reduces Their Monthly Processing Time With Sage Intacct

April 12, 2018
Posted by: Kate Johnson

Category: Software

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VirMedica was outgrowing QuickBooks. They were relying on Excel, which was causing their accounting processes to be cumbersome and prone to errors.

VirMedica needed a more robust solution that would allow them to:

  • Streamline accounting processes
  • Reduce the use of Excel
  • Provide dynamic reporting capabilities
  • Routinely spread revenues out automatically
  • Work in a cloud-based environment

Leap the Pond Pharmaceuticals

Finding the right solution

VirMedica leaned heavily on the referral of the American Institute of Certified Public Accountants (AICPA) to choose Sage Intacct, a cloud-based accounting software solution. Sage Intacct is the only accounting solution that is recommended by the AICPA. Sage Intacct allows VirMedica to significantly improve accounting processes (no more tedious Excel entries), have real-time access to robust reporting and dashboards, and anytime anywhere access to their financial data.

Seeing Results

“Leap the Pond provided a smooth implementation on behalf of Sage Intacct. Their team was a knowledgeable resource, providing patience and best-in-class service.” Ed Strong, Controller, VirMedica.

Leap the Pond met VirMedica’s deadlines and went live on-schedule. Understanding that reporting was a key decision maker in the selection of Sage Intacct, Leap the Pond focused on helping them reduce their reporting cycle time. The process involved replicating VirMedica’s reports to find the most efficient way to make their month-end as smooth as possible.

Since VirMedica’s implementation, they have:

  • Gained visibility across its finances and operations to monitor their business in real time
  • Reduced their monthly reporting processing time from 12 days to 7 days
  • Created customized dashboards and reports tailored to their specific needs
  • Managed their finances more efficiently
  • Simplified and streamlined key accounting processes

VirMedica’s next step is to bring Sage Intacct to other extensions of their business and have accounting under one roof.

About VirMedica

VirMedica is the industry’s first e-access company. Established in 2013, VirMedica builds technologies that improve speed to therapy, automate HUB operations, and simplify provider workflows. Their solutions are secure, scalable, and can be customized to meet your brands unique access requirements. They support brands using internal HUB operations as well as those that have outsourced portions of their access services.

VirMedica is proud to partner with some of the world’s leading specialty biopharmaceutical companies. Their engagements typically focus around efforts to use their technology and proprietary transactions to automate critical portions of a brand’s pre-treatment processes. This may include an electronic benefit investigation, an electronic prior authorization or providing real-time case status updates to providers and patients.

ABOUT LEAP THE POND

Leap the Pond delivers Sage Intacct based accounting solutions to small to medium-sized organizations that have BIG plans. Our senior leadership averages more than 20+ years of experience with accounting and operations. Since 2008, Leap the Pond has led more than 350 projects for nearly 300 companies.

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