International private healthcare company, Columbia Asia is owned by a US-based investment fund : International Columbia USA LLC (ICU).
Columbia Asia started operations in 1996. Currently it has 29 medical facilities across Asia; 12 in Malaysia, 11 in India, 3 in Vietnam and 3 in Indonesia. The company believes in setting up mid-size hospitals built in residential areas for accessibility and efficiency, and to better serve the respective communities. This also helps keep costs down for consumers with no compromise on healthcare quality, modern amenities and highly-trained teams of specialists and nurses.
With Finance & Accounts team geographically distributed across countries, management offices & hospitals, Columbia Asia was finding it difficult difficult to get monthly management reporting and statutory reporting out on time. Usage of their existing BI solution was only partly solving the problem, and at the same time ongoing licensing and maintenance costs where prohibitive. There was lot of manual intervention in the reporting process. With a complicated consolidation structure, business & time critical reporting requirements delays or mistakes were extremely costly.
FinAlyzer was implemented at Columbia Asia to automate the entire management & statutory consolidation process. FinAlyzer was configured to generate the entire monthly MIS reporting across 29 hospitals, quarterly IFRS investor reporting, Local statutory reporting in four countries, & Key risk indicator reporting.
All in one: FinAlyzer comprehensively addressed all the financial reporting requirements of the F&A teams globally: MIS reporting, MIS consolidation, IndAS, IFRS, CXO dashboards, Investor reporting, statutory consolidation, etc
For the accountant: FinAlyzer allowed users the ability to manage reporting requirements of different stakeholders using proper accounting treatment, journal entries, cost allocation, cost-center reporting etc
Business friendly: Being simple to use and simple to setup, most user requirements could be easily configured by the business users themselves
Flexible: FinAlyzer has a low learning curve, thus it eliminated the need for costly IT resources providing ongoing support to business users
Easy on the pocket: FinAlyzer is an affordable consolidation & reporting solution, and helped the client save significant licensing and ongoing maintenance costs