Prestige Nursing, a leading company in the private care sector in the UK, faced a major challenge in cost management manual processing is time-consuming. However, by implementing automated expense management software, the company has significantly reduced processing time, from 2-4 weeks to just 2 days. Let’s find out how this company improved its expense management process.
1. Introduction to Prestige Nursing
Prestige Nursing is one of the UK’s leading private care and support providers. With over 30 years of experience, the company has built a solid reputation for its commitment to providing high quality care and its motto of “Treating you like family”. Known for its dedicated staff, Prestige Nursing Currently serving over 10,000 customers, with a satisfaction rate of 94%.
The company currently has more than 150 employees and not only focuses on service quality but also pays special attention to improving working conditions for employees. Therefore, optimizing internal processes, especially in cost management, has become a top priority of Prestige Nursing to improve work efficiency and minimize problems.
2. Challenges in cost management process
Before implementing an automation solution, Prestige Nursing faced a highly complex manual expense management process. According to Chief Accountant Raja Qaisar and Senior Accountant Cindy Woo, the company encountered several major problems in this process:
- Complicated process: Employees have to manually fill out forms and then go through multiple levels of approval from direct managers to the finance department and board of directors.
- Time extension: Expense verification and processing usually takes 2-4 weeks, even longer if errors or missing information are found.
- Lack of transparency: Employees cannot track their expense status, causing internal frustration.
These factors have reduced work efficiency and created a lot of frustration from employees.
3. Cost management automation solution
To solve the above problem, Prestige Nursing decided to implement automated expense management software. Although the software implementation process encountered some initial difficulties, thanks to the dedicated support from the implementation team, all problems were quickly resolved.
Main objective of the implementation is to shorten processing times and create a transparent, easily controlled cost management environment.
- Online Support: The accounting team appreciates the software's online support feature, which helps answer questions more quickly and conveniently during the implementation process.
4. Results after applying the software
After implementing the new cost management tool, Prestige Nursing has achieved amazing results:
- Processing time is significantly reduced: From 2-4 weeks down to just 2 days.
- Shorten refund time: Refund time is shortened from 2-3 weeks to 3-4 days.
- Standardize cost tracking process: Employees can complete payment in just 5-10 minutes.
- More transparency: Employees can easily track the status of their expenses from submission to completion, reducing ambiguity and frustration.
“The feedback has been very positive – the tool is easy to use and has improved the relationship between staff and the finance department. We are no longer the ‘troublemakers’,” says Raja Qaisar.
5. Improve the relationship between finance department and employees
One of the key changes after implementing the software was a marked improvement in the relationship between staff and the finance department. Cindy Woo, Senior Accountant, shared: “Thanks to this software, we are no longer the ‘troublemakers’. We can track our expenses and get support quickly.”
With more than 70% employees working for more than 5 years, Prestige Nursing has successfully restructured internal processes, allowing staff to focus on core work without being interrupted by complex manual processes.
6. Lessons on cost management automation
Converting your cost management process from manual to automated not only helps Prestige Nursing saving time but also creating a more positive and transparent working environment. This is a clear demonstration that applying technology to cost management can help businesses save costs, optimize work efficiency and improve relationships between departments within the company.
The application of automatic cost management software at Prestige Nursing is a big step forward in building an efficient workflow, while creating a transparent, open and fully supportive work environment for employees.
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7. Conclusion
Cost management is an important part of every business's financial strategy. Applying modern cost management solutions such as automated software, flexible budgeting, strict control processes, employee training, and periodic cost analysis will help businesses manage costs effectively, increase transparency and financial stability. Apply these solutions to optimize costs and develop sustainable businesses.
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