Senior living leaders are turning to technology more than ever to improve their communities, which is why we are always looking for ways to improve processes and bring residents the best care. Accounting automation is revolutionizing how senior living communities operate, transforming them into fully connected, data-driven organizations.
Investing in accounting automation is not just a smart move; it’s a necessary one. With accounting automation tools, like Sage Intacct's cloud-based accounting software, your organization can better meet today's and tomorrow's challenges.
9 Ways Accounting Automation Can Support Your Senior Living Community
Define, Track, and Report with Accounting Automation Tools
Accounting automation tools allow senior living organizations to define, track, and report on critical objectives with unique, well-defined parameters. This capability ensures that all financial activities align with the organization's goals for better strategic planning and decision-making.
Accounting automation tools also help you track funding restrictions, program outcomes, and your budget. They provide accurate tracking and reporting capabilities, ensuring that all financial activities adhere to set guidelines and objectives.
Personalize Dashboards for Real-Time Visibility
One of the standout features of accounting automation is the ability to personalize dashboards for real-time operational and financial visibility by funding stream. For example, our preferred tool, Sage Intacct, provides access to more than 150 templates for customizing dashboards to user preferences.
Simplify Grant, Fund, and Donor Accounting
Grant, fund, and donor accounting can be complex and time-consuming. Accounting automation tools simplify these processes, making it easier to manage incoming funds and track and report to donors and grantors accurately and transparently.
Automate Revenue Management
Automating revenue management processes can significantly reduce the time spent on manual entries and reconciliations. This helps minimize errors and makes sure that revenue is accurately tracked and managed, leading to improved cash flow and financial stability.
Easily Manage Multiple Entities
For senior living organizations operating multiple locations, managing finances can be daunting. Accounting automation makes consolidating financial data across multiple locations easy, providing a holistic view of the organization’s financial status and simplifying inter-entity transactions.
Produce Reports from Multiple Operating Dimensions
Accounting automation tools empower organizations to produce reports from multiple operating dimensions. This capability allows for detailed analysis and insights into various business aspects, such as program outcomes, budget to actual results, and funding restrictions.
24/7 Accessibility from Any Mobile Device
In today’s fast-paced world, having access to financial data anytime, anywhere, is a significant advantage. Accounting automation software offers 24/7 accessibility from any mobile device with a secure internet connection.
Project Accounting Workflows
Project accounting workflows powered by accounting automation tools provide deep insights into the financial aspects of various projects within the organization. This functionality helps monitor budgets and forecast expenses.
Maximize Impact with Accounting Automation Tools
Adopting a scalable accounting system is not just about keeping up with growth — it's about driving it. Utilizing accounting automation puts your organization in a position for long-term success by increasing efficiency, decreasing errors, and providing analytics.
Adopting a scalable accounting system is not just about keeping up with growth; it's about driving it. By automating routine tasks and reducing manual data entry, accounting software frees up time for you to focus on strategic decisions and what really matters: your residents and members.
Transform Your Finances and Embrace Automation With Sage Intacct
Find out why our preferred software for senior living communities, Sage Intacct, is the financial management solution your organization needs and invest in the power of accounting automation today. Learn more about Sage Intacct for senior living.
