himagine + FinancialForce:
Project Billing goes on cruise control while driving revenue & saving money

himagine solutions inc. is a leading healthcare outsourcing solutions provider with the largest team of inpatient and outpatient coders in the U.S. As a recently divested company, they are growing fast and want to keep it that way, with over $100M in revenue since its 2014 inception.

The mission was to build a unified business system with data easily sourced and synchronized–across projects, financials, sales, and staffing.

Products in Use: FinancialForce Billing

Company size: Large

Previous system: PeopleSoft

Location: St. Louis, Missouri, US

Industry: Healthcare & Pharmaceuticals

With FinancialForce and one cloud everybody understands and has visibility of what's going on in the business–from a revenue recognition as well as a billing, projects, and resource management standpoint.

Tara Triola, Director of Finance Operations

Business Issues

The executive team knew the existing hodgepodge of systems would not support how they wanted to manage the company. The Peoplesoft billing system was a chief offender having no integration with other back office systems creating a slow and manual billing process.

The user adoption with FinancialForce has been a great transition. The entire organization has really learned the system fast because it is a very user-friendly application.

Tara Triola, Director of Finance Operations

Benefits & Results

FinancialForce hit the mark

With the FinancialForce ERP applications and CRM connected on the Salesforce platform, himagine now runs the business on a single system that consolidates data and connects departments. FinancialForce Billing now automates, streamlines, and ensures accuracy across the entire billing lifecycle. The finance team manages transactions in a way that drives revenue, saves money and fulfills reporting and management needs.

Take the pain out of billing

FinancialForce Billing allows the team to easily set up the billing rules and apply workflow and approvals for every transaction. Every component of the billing cycle is managed in one automated closed loop process and the number of billing resources required has been cut in half.

Faster invoicing

The flexible billing system allows the team to process both recurring and nonrecurring revenue in a single invoice and manage the billing lifecycle all from a single record. And because it’s connected to the CRM, the invoice is generated right from the customer record in a single click.

Creating new revenue streams

FinancialForce Billing is not only driving efficiencies but it has helped himagine provide new services offerings not thought possible until FinancialForce–which supports multiple revenue streams and billing models.

Tara Triola, Director of Finance Operations, recognizes the growth opportunities.
“FinancialForce gives us the flexibility to have different options on how we service our customers. This is increasing our revenue because we are able to expand offerings within our current customer base.”

Better cash flow

With the invoicing process streamlined, DSOs are down, and cash flow is up for himagine. The customer benefits by having more accurate and timely invoices with an automated process.

Metric highlights

  • Billing 50% Faster, cut from 4 days to 2 days
  • DSOs down 33% from 60 to 40 days
  • Billing resources cut in half

Healthcare industry rules & mandates

Having an automated, comprehensive solution makes it easy for himagine to comply with mandated revenue recognition rules and stay HIPAA compliant, in an industry with ever-changing standards.

“We have been able to feel confident using FinancialForce, Salesforce, that our information is HIPAA compliant and secure.” Tara Triola

Apps that bring company-wide visibility

himagine also uses FinancialForce Professional Services Automation, FinancialForce Human Capital Management and FinancialForce Revenue Management. Finance, projects, time tracking, staffing, and HR are all linked together, in one system. There’s a single source of information across the business.