With a single software suite, the private medical services provider manages its budgets and financial reports faster and with more ease. Senior Software’s CPM system, implemented by the Regina Maria Health Network, integrates budgeting, planning and Business Intelligence functions in a single platform.
Regina Maria is a company specialized in private medical services, that serves over 2,2 million patients. Initially founded in 1995 as a cardiology cabinet, the Regina Maria network is recognized as a leader on the private medical services market in Romania, with a turnover of over 91 million euro in 2016.
Being a company that has multiple business lines and that is always expanding, Regina Maria’s managing team has decided to implement the CPM suite with integrated Business Intelligence from Senior Software, in order to streamline their entire budgeting and financial consolidation processes.
“We have chosen Senior Software because they convinced us they can ship the budgeting specifications of our organization in a stable system. The suite’s flexibility allowed us to implement our organization’s particularities in terms of budgeting and, at the same time, define clear validation rules”,
declared Daniel Petra, CFO for Regina Maria.
With the new CPM suite, all budgeting managers work in the same app and can create bottom-up type budgets on various levels: visit, lab test, imaging segments, etc. The system also allows the real-time monitoring of the progress made by each member of the budget construction process.
The suite allows Regina Maria’s representatives to automatically calculate, allocate and reconciliate revenue and costs from the main division to the other operational divisions. Also, ‘PreviousYear vs. BudgetYear’ variation types for receipts, spending and profit can be graphically visualized and analyzed in real-time.
The CPM suite from Senior Software also covers the company’s need to consolidate revenue budgets, costs, CAPEX and EBITDA per division, campus and company level. Also, the Regina Maria team can track if the company is within one of the budgeting hypotheses set by the management: value of sales by revenue category, EBITDA, etc.
“The first thing we noticed after implementing the CPM suite was the intuitive web interface, and also the increased coherence in data, formal validations and information consolidation. At the same time, the budgeting process has been considerably simplified, thanks to the ability to initialize the company’s budget based off of last years’ history”,
added the CFO for the Regina Maria Network.
Not least, the “What-if” analyses and simulation functionalities of the CPM suite allow the operator to track the possible global impact of decisions from within the company in real-time.
Today, the Regina Maria Health Network owns 43 private locations, 5 hospitals, 4 daycare centers, 2 maternity hospitals, 8 medical campuses, 11 imaging centers and 20 medical test labs. Also, the operator is partnered with over 180 polyclinics and owns its own stem cell bank.
Among the companies that successfully use Senior Software’s performance management suite, we count: Porsche Romania, Romcarbon, Secom, Prodal’94 (the producer of Stalinskaya), Caussade Semences Europe, Eldon Enclosures Group, Macro International, Parmafood, Marelvi, Randler, Uniprest Install, Herlitz Romania, Faist Mekatronic, Phoenix Contact and many more.