Visiba Care provides a virtual care platform that enables healthcare providers to digitize and automate patient pathways and interact with patients through digital channels. The company was founded in 2014 by four Swedish entrepreneurs, and the Finnish healthcare company Doctagon was one of the first investors in the company.
Today, Visiba Care has grown to a group of 4 subsidiaries and has customers in five European markets. Their virtual care platform is used across healthcare operations within primary, secondary and social care.
© 2020 Visiba Group AB
To gather and consolidate data from 4 subsidiaries with 4 different ERP systems, Visiba Care needed a master system to manage all financial data. They chose Konsolidator to streamline, structure, and store all financial data.
Since Konsolidator is not only working as a financial consolidation and reporting tool but also as a financial database the system was ideal for Visiba Care.
“We got a tip to look at Konsolidator, and everything looked so simple compared to the other solutions we looked at. With Konsolidator, we did not need to change systems or procedures in every country we are in. The tool is quick and simple.” – Jon Gustafsson, CFO at Visiba Care
Today Visiba Care has cut their consolidation time with Konsolidator by 75%, going from spending 4 hours on consolidation to just 1 hour. But when asking Jon Gustafsson, the real gain for the group’s financial department lies in some of Konsolidator’s other functionalities:
– Budget and forecasting
– Connection to a reporting tool like Power BI
– KPI module
With the forecast function, Visiba Care can deliver updated forecasts in 15 minutes. “Before, we did budget and forecast in Excel, but it took way too long, and we had to check up on our numbers a lot.” – Jon Gustafsson.
Jon and his team looked at other tools for forecast and budgeting, but they were very expensive and complicated since the team needed to add another system on top of the budget and forecast system to transfer data from the data source to the forecast model. With Konsolidator, Visiba Care gets all its necessary functionalities in one tool.
“Konsolidator is so great and simple, so we don’t see why we should use another system. We upload our forecast to Konsolidator for every month one year ahead, and it takes about 15 minutes for us. If we want to change something, we do that, and then we consolidate that month. That is still faster than any other system we have worked with earlier on.” – Jon Gustafsson.
“For 20 years, I have worked as a finance professional, and I have always had a target which I could not reach because of the lack of data control. But now, I feel that I have actually reached the target because we have full control of our data which means I can answer whatever question I get and can present trustworthy reports build on reliable data.”
For Jon Gustafsson there is no doubt about what features are adding the most value and what features are the most important for the finance department at Visiba Care.
1: KPI module:
The possibility of having the KPIs is of great value to Visiba Care. They can build and produce a full management report with one tool and connect it to their preferred reporting tool – Power BI.
The finance team uses the KPI function to measure the number of employees, customers, etc. They have developed their own structure for KPI tracking in Konsolidator, and now have a standardized way of uploading the KPI data.
2: Connection to Power BI:
The connection through an API between Konsolidator and Power BI is a determining factor for Visiba Care. The finance department has developed a customized reporting layout with the help of consultants from Norriq (a Konsolidator partner).
Visiba Care now has the perfect way to visualize and present all their data. The KPI module and Budget & forecast module enable the finance department to deliver complete, reliable management reports at a rapid speed. According to Jon Gustafsson, this is where the true value of Konsolidator lies because it gives the finance team 100% control of the data and enables them to answer any questions that arise.
“For 20 years, I have worked as a finance professional, and I have always had a target which I could not reach because of the lack of data control. But now, I feel that I have actually reached the target because we have full control of our data which means I can answer whatever question I get and can present trustworthy reports build on reliable data.” – Jon Gustafsson.
3: All data in one database:
The financial team now has one source of data and can find and extract any figure when needed. The finance team does not have to go through several different Excel spreadsheets and spend hours looking for a number or an error. The full audit trail and the possibility to follow every single number once it enters Konsolidator gives Jon and the financial team at Visiba Care complete confidence in their data. According to Jon Gustafsson this transparency has increased the data quality significantly at Visiba Care.
“The biggest advantage of using Konsolidator and the biggest value for us is having control of our numbers. In an Excel file, you do not have control. But with Konsolidator, we can see who opens and edits the data files, where our data comes from, and why we get a certain result. This gives us more time to analyze and present the numbers instead of checking them.” – Jon Gustafsson