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Budgeting at a healthcare industry leader

The client is an international company offering comprehensive, private medical care for patients of all ages. The brand, which has been present on the Polish market for over 20, has several dozen centers of various specifications, from medicine to fitness, which are used by more and more customers every year. Budgeting in a company with such a complex structure is a huge challenge. Incube CPM has been assisting the medical giant in finding optimal business solutions since 2017.

Budgeting in the enterprise in a coherent system

The combination of budgeting and planning models for various businesses, such as clinics, hospitals, laboratories and rehabilitation centers, turned out to be a real challenge. The solution was to build a central, consistent system for budgeting costs and revenues throughout the organization, along with increasing the planning detail.

After analyzing the client's needs, we focused on creating a system composed of several models of enterprise budgeting and financial planning. We used IBM Planning Analytics, which comprehensively supports the processes of budgeting and forecasting revenues and costs of units. Including, among others: planning the amount of depreciation, salary costs, intra-group transactions, or the comprehensive presentation of plans in many systems of profit and loss accounts. This system works flawlessly. Along with the client's development, we introduced new solutions to facilitate financial analysis.

The number of changes made looks impressive. At the moment, the company has several separate applications and budget models. The budget is mainly based on Rolling Forecast. The outpatient clinics are more than 1,000 cost centers that are planned in IBM Planning Analytics (TM1).

Closing the month in a quarter of an hour

The most important area we implemented concerned month-end closing. Performance reporting is done on a cyclical basis, so it must run smoothly, and its results must not be questionable. The result of our work is a significant acceleration of the process due to its automation. Previously, it was possible to perform one cycle of calculation of results per day with no ability to react to changes in the ERP system. Currently, the entire process takes no more than 10 minutes, counting from the last posting to the possible presentation of data. Importantly, the result obtained can even be monitored online, which helps catch possible accounting errors, and the first estimate of the result is available earlier than before.

A project from a completely different area, also completed using IBM Planning Analytics (TM1), was the reconciliation of balance sheet account balances. Proper documentation of accounting account balances greatly speeds up cyclical audits of financial statements. Currently, the reconciliation process has been launched at several client's companies. Dozens of people are involved in the process. Reconciliation takes place at the level of individual accounting accounts in monthly cycles, which are subject to a 3-tier review and approval process. At the final stage, they are validated by those managing the entire process. A repository for reconciliation documents has been set up on the Sharepoint/Teams portal.

Cooperation based on trust

Client is one of Incube CPM's largest customers. With our ideas and commitment, we have earned the recognition and great trust of those in charge. We started our cooperation 5 years ago with the implementation of a planning and budgeting system. We are currently working on two levels of the organization. The first is client company based in Poland and its local businesses. The second is global. Its side is client head office, which deals with the consolidation and reporting of the results achieved by the entire group.

As emphasized by Paweł Pośnik, Partner & Consulting Manager in charge of this project, this is a very broad undertaking, which by its very nature covers different areas and businesses.

- For a long time, the subject of this project has not just been budgeting in the enterprise. The systems we support have been recognized by client as critical systems, which is why we have also introduced 24/7 technical support during quarterly and annual closings.

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