Myhealth Cuts Xero Reporting Modeling Time from 5 days to 1 with Acterys

Background

Myhealth was using a cloud-based Xero system, with each of the company’s 80 clinics using a separate Xero company. Before implementing Acterys, the information had to be manually loaded into Excel spreadsheets that had to be integrated for the financial reports. The organization faced extensive preparation times with this spreadsheet-based reporting and planning process from the company’s Sydney-based headquarters.

Key Challenges

• Struggled with manually integrating data from 80 clinics across Australia using Excel spreadsheets.
• Lacked a streamlined financial analysis platform, resulting in inefficiencies.
• Experienced delays and limitations in generating consolidated reports.

Streamlining Financial Reporting and Analysis From 5 Days to One

With Acterys Apps for Xero, the data from all Myhealth clinics is automatically updated and loaded into a cloud-based data model based on a standard relational database platform.

The model is optimized for financial analysis purposes, removing the need for raw API tables or expensive consultants for preparation. Important features are available out of the box, including consolidation of all entities, time intelligence, currency translation and automation of manual journals.

The finance department can build the required reports with existing Power BI and Excel knowledge and exactly to their needs.

Results

With Acterys, Myhealth cut down the time for building a model to one day. Previously, it took five days to prepare the required reports. Users love the ease of entering their numbers, the analytics features and the responsive visualizations in Power BI.

The financial controller at Myhealth said of the results achieved:

“The front end for the solution is still Excel, where we already have knowledge in-house, but the data is now updated live from the data model, and we avoid the typical menial maintenance tasks, allowing us to put our focus on analysis and ensuring that the strategic targets are met.”

Myhealth’s adoption of Acterys Apps for Xero revolutionized its financial reporting process. This transition resulted in significant time savings, enhanced analytical capabilities and improved efficiency, allowing Myhealth to focus on strategic goals and data-driven decision-making.