SSI Group Automates Budgeting Processes and Improves Forecasting Accuracy

Situation  

The SSI Group is a leading provider of healthcare revenue cycle management solutions, and partners with healthcare providers, payers, and ambulatory surgical centers. Due to SSI’s continuous growth, they have been unable to keep their budget forecasting processes up to speed with the high standards expected of the company.

They relied heavily on Excel, requiring each cost center to manually input budgetary predictions into a spreadsheet, which was then shared with department heads and rolled up to the VP of Finance and CFO for review. The manual budget forecasting process lacked visibility into versioning, efficient communication of changes across business units, and was prone to manual errors, leaving little time for decision-making and analysis. Static budgets could not react to changes in a timely manner, rendering forecasted expenses irrelevant.

Action

Through a collaborative partnership with Oracle and Centroid, SSI automated the budgeting process with standardized templates and calculations for increased accuracy and speed. They shifted from a quarterly manual forecasting process to a monthly rolling forecast, improving control and collaboration in the budget process and easing future maintenance.