Allina Health Injects Infor Efficiency into Cash Management
Allina Health immediately reduced errors and improved efficiency after going live with Infor Lawson Cash and Treasury Management.
"We've saved a tremendous amount of time by just having a single, centralized platform to manage cash. The teams have all of the data they need in a singular place, simplifying complex tasks and allowing them to work more efficiently," said Bill Imholte, finance manager of Allina Health, a health care system of 12 owned and jointly owned hospitals and more than 90 clinics throughout Minnesota and western Wisconsin.
"For example, Infor Lawson Cash and Treasury Management has provided our accounting team with more insight and visibility into daily numbers, a process that used to take a few days to aggregate. We've saved the accounting team hours of work during the critical month-end cycle by being able to interface directly into General Ledger the morning of the second working day. This is two to three days earlier than our manual process."
In addition, Allina Health is able to better manage bank relationships, analyze bank fees, and keep accurate track of bank accounts and contacts, including internal resources and permissions. Infor Lawson Cash and Treasury Management provides tools to maintain audit trails, track correspondence, and attach documents for later reference, including notifications about account changes.
"By being able to monitor every cash transaction for accuracy and timeliness electronically, our organization has been able to increase efficiency with faster access to data. We are able to eliminate any potential errors or human oversight throughout the entire process, giving us more confidence in our reporting." said Jerome Houizot, manager, Treasury Services, Allina Health.
Also, Allina Health now reconciles Accounts Payable checks with the Cash Ledger daily, rather than monthly, and it takes roughly five minutes. Reconciling it daily with Infor Lawson Cash and Treasury Management makes it much easier to identify and act on abnormal transactions on a timelier basis.
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