How Mission Health Got an 110% Return on Their Investment in Prophix

Data collected over the years on software implementations states that 50% fail the first time around.[1]

Investing in a new software system is not without risk. Even before you’re up and running, you spend a significant amount of time researching vendors, comparing systems, implementing processes, and training your colleagues.

So, it almost goes without saying that most companies expect to see a return on their investment (ROI) in software. But how can you be sure you’ve made the right choice?

Learning from and listening to the stories of other companies who implemented the same software can help guide your decision-making.

Today, we want to share Mission Health Communities’ story on how they achieved a 110% return on their investment in Prophix in just 18 months.

About Mission Health Communities

Mission Health Communities (MHC) is a provider of senior living and skilled nursing communities in the US. Primary services provided in the communities include elderly care, hospice, and rehabilitation. Based in Florida, MHC manages over 50 facilities in Georgia, Tennessee, Wisconsin, Minnesota, Kansas, and Missouri. The company is amid an expansion initiative, opening nearly 20 facilities within the last three years.

The Challenge for Mission Health Communities

MHC primarily used Excel for its financial management processes, such as accounting and budgeting. This antiquated system lacked sophistication in its analytical capabilities and could only create basic financial statements.

Budgeting for the year was cumbersome because the company had to coordinate with over 30 locations, a process that was riddled with human error, duplicate spreadsheets, and excessive back and forth between corporate and facility management.

To perform any analytics would require an extensive process of searching and requesting information from individual facilities and departments. Therefore, calculating real-time KPIs was near impossible, contributing to an organization-wide visibility issue.

Mission Health’s Strategy for CPM Software

MHC realized it needed a Corporate Performance Management (CPM) solution to streamline its period close, financial reporting, and FP&A tasks.

Mission Health needed to establish a single source of truth (SSoT) and reporting capabilities that could be easily customized to fit its unique healthcare business model. Undergoing an RFP process in early 2019, MHC considered Workday Adaptive Planning and Prophix Cloud. Ultimately, the company selected Prophix in May 2019 for the following reasons:

  • Intuitive user interface – MHC’s Prophix administrator did not require a high level of technical expertise to manage the system and implement changes. The intuitive user interface empowered accountants and business analysts to create detailed reports and generate forecast models quickly.
  • Out-of-the-box-functionality. Prophix came out of the box with ad-hoc analysis capabilities, real-time KPIs, and report templates suited for MHC. This simplified the implementation process, leading to a quick time-to-value which enabled employees to conduct granular data searches and report customizations.

Benefits of Prophix for Mission Health Communities

“Moving critical financial processes from Excel spreadsheets to automated cloud-based CPM systems is no longer a luxury, but a business necessity,” said Alok Ajmera, CEO of Prophix Software. “The tangible results Mission Health Communities has realized from using our software speaks volumes to Prophix’s track record of success in transforming our customers’ financial planning and analysis processes for improved business performance, both in the short and long term.”

Mission Health Communities underwent a two-month implementation process, going live in August 2019 with core financial management and reporting capabilities and a planning module for budgeting employee compensation. With its cloud deployment of Prophix, MHC realized benefits in increased user productivity, improved business agility, and improved organizational visibility.

A Return on Investment for Mission Health Communities

We analyzed the costs of software, personnel, professional services, and user training over three years to quantify Mission Health Communities’ total investment in Prophix technology.

Direct benefits quantified include avoided personnel costs surrounding the PPE inventory tracking project.

Indirect benefits quantified include the time savings that MHC’s employees have driven by streamlining reporting, budgeting, and period close processes.

Based on these benefits, we determined that Mission Health Communities achieved a 110% return on their investment in Prophix in just 18 months.

To see the full ROI calculations for Mission Health Communities’ investment in Prophix, read their case study.

[1] https://www.netsuite.com/portal/resource/articles/erp/erp-statistics.shtml

Prophix

Your business is evolving. And the way you plan and report on your business should evolve too. Prophix helps mid-market companies achieve their goals more successfully with innovative, cloud-based Corporate Performance Management (CPM) software. With Prophix, finance leaders improve profitability and minimize risk by automating budgeting, forecasting and reporting and puts the focus back on what matters most – uncovering business opportunities. Prophix supports your future with AI innovation that flexes to meet your strategic realities, today and tomorrow. Over 1,500 global companies rely on Prophix to transform the way they work.

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