What Lisa had to say about her experience…
Capabilities and Needs
“We were hoping there was something off-the-shelf that would embrace the business processes underlying both capital and major expenditures, along with an electronic approval process– and would integrate with MultiPlan’s financial management, ERP and other packaged applications.”
Benefits of Process Director
“Process Director has significantly increased our turnaround time for obtaining approvals and delivering orders to our vendors. It has also enabled us to have a single repository for tracking of disposed, sold or transferred assets. The underlying automated workflow allows us to engage our internal operations faster and capture relevant information that can be viewed by all in the approval workflow. We were very pleased with the efficiencies achieved from the very beginning of the Process Director deployment.”
Founded in 1980, MultiPlan is the nation’s leading comprehensive provider of healthcare cost management solutions. The company contracts with almost 900,000 healthcare providers and has an estimated 57 million consumers accessing its products. The company also provides a single gateway to a host of primary, complementary and out-of-network strategies for managing the financial risks associated with healthcare claims.
Business Challenge: Automating the Capital Expenditure Process
MultiPlan, a company that focuses on quality and efficiency in all aspects of its business, recognized a need to automate and provide more visibility into its capital expenditure processes. The application being used at the time resided on a Lotus Notes database. MultiPlan wanted to retire that database and replace it with a BPM solution offering Cloud technology.
Working with users in Finance and Facilities, the IT group formed a team to review potential solutions. The group identified the criteria for a tool that would:
- Incorporate workflow, business logic, and reporting
- Automate capital expenditure approvals electronically
- Integrate with financial management, ERP and other packaged applications
- Be available as an off-the-shelf product
Working with users in Finance and Facilities, the IT group formed a team to review potential solutions. Beginning with Google searches, the group began to look at a number of vendors, primarily eProcurement – as well as some analytics vendors. They identified 17 companies, quickly discovering that the canned solutions they reviewed on the eProcurement side were overkill for what MultiPlan needed to accomplish.
Finance provided templates as to how the application looked in Lotus Notes then invited three vendors to do deep dive demos. MultiPlan ultimately entered into a Proof of Concept (POC) with Process Director/ Cloud Edition.
Over the course of three months, the team worked collaboratively to ensure that the software would address both Finance and IT’s concerns. Based on the success of the POC and delivering on the promise of rapid deployment, cost savings, automation and process improvements, MultiPlan selected Process Director to automate and manage its processes.
Solution: A Centralized and Automated CapEx Process
Upon completing the CapEx rollout, all information regarding major expenditures is now accessed through a centralized portal. Once submitted, emails automatically generate to appropriate approvers, indicating when a document must be signed and reminding them if their signature is still required.
Within the first month, MultiPlan management realized how much more Process Director could do than they initially thought and expanded it to automate purchase orders, and to streamline asset retention and disposition. Subsequently, MultiPlan also developed and managed its contract management process under Process Director.
As a managed care organization with lots of data, MultiPlan continues to look for opportunities to reduce its IT footprint by utilizing cloud technology. Process Director has opened the lines of communication between IT and Finance, improving collaboration and providing greater access to documents and forms.
MORE INFORMATION ABOUT MULTIPLAN –
View The Press Release
Cloud-Based Solution Offers Automatic PO Generation Upon Approval and Mobile Device Integration
View the Press Release