Crowe Financial Control Analytics is one digital tool helping healthcare finance teams solve some of their biggest challenges.
With the wide array of challenges facing healthcare finance leaders today, it can be difficult to determine if they have strong enough financial controls. Having more confidence in financial controls requires a new approach – and innovative solutions.
Even within a complex industry like healthcare, many organizations are still using manual processes to track and reconcile key finance areas, such as accounts payable (AP), supply chain, and payroll. With financial and human capital in short supply, these labor-intensive, error-prone processes can take too much time – and use up too many valuable resources. Digital tools and automation offer hope, and they are changing how finance leaders manage their workflows. These tools use continuous monitoring to highlight problems quickly so they can be addressed before they turn into bigger, more costly issues.
Crowe Financial Control Analytics is one example of a digital tool helping healthcare finance teams solve some of today’s biggest challenges. Following are four examples that demonstrate how such solutions can provide finance leaders the actionable feedback they need, aid in decision-making, and help them achieve much-needed cost savings. The examples showcase savings in two pressing areas – accounts payable and payroll.