Healthcare Orchestra BioMed takes their Accounting Processes to theCloud with Sage Intacct
Orchestra BioMed is a US-based biomedical innovation company providing high-impact solutions for large unmet needs in procedure based medicine, primarily focused on the development of interventional devices, bioelectronic and neuromodulation therapies for the treatment of cardiovascular diseases. As the company grew they realized that they needed to find a more sophisticated business management platform that would allow them to automate tedious manual processes.
"We often relied on the expertise of RKL eSolutions. We view them as an extension of our team and would not experience the success we have today without their assistance."
—Joshua Aiello, Corporate Controller
Company Growth Outpacing Basic Systems
By the end of 2018, Orchestra BioMed was rapidly outgrowing their existing Quickbooks solution. As their business grew, their dispersed workforce began to feel the strain of manual processes. To support the team of employees located around the country and the world, they wanted to put systems in place that would allow transactions to be processed remotely. They explored several solutions and eventually decided that Sage was the right fit for their company. After having worked with RKL eSolutions in the past, Joshua Aiello, Corporate Controller at Orchestra BioMed, reached out again to see if they could help.
Implementing a Solution that Grows with the Organization
Orchestra BioMed was essentially starting from scratch as far as ERP software was concerned and wanted to maximize their usage of the technology. RKL eSolutions implemented cloud-based Sage Intacct to ensure that all of Orchestra BioMed’s employees would have full access to all of the functions of the new ERP system.
Since implementing the ERP system, Orchestra BioMed has incorporated electronic PO and invoice approvals and electronic
sign-off of ACH’s and checks. They also integrated an employee expense reimbursement tool (Abacus) with Sage Intacct,
integrated their sales payment gateway (Authorize.net) with Sage Intacct and created many custom reports for financial
reporting. “To implement these processes”, Aiello explained, “we often relied on the expertise of RKL eSolutions. Their team
has been and continues to be helpful in all aspects of our process development. They are involved in our brainstorming,
planning, testing, implementation, and “go-live” phases. We view them as an extension of our team and would not experience
the success we have today without their assistance.”
Streamlining Processes for Seamless Efficiency
Since their ERP implementation Orchestra BioMed has seen significant amounts of time saved to process invoice and sales
transactions. Approval routing is stored electronically for record retention as well as referencing. They have begun a process
of monthly financial reporting which wouldn’t have been possible before the switch. Additionally, when employees needed to
transition to working remotely, their cloud-based processes were not impacted at all. Aiello concluded, “We were able to flip
a switch easily to work from home seamlessly. It has been a great experience with SAGE Intacct, and RKL has been an integral
part of our progress.”