Case Study: Probo Medical’s Growing Pains Compel Accounting Software Upgrade

Probo Medical Case Study Accounting Software

Find out how Probo Medical successfully navigated through big business changes during fast-paced growth by implementing a Sage Intacct Cloud Accounting solution.

At Probo Medical, moving away from QuickBooks was paramount, since handling a multi-entity structure with multi-currency capabilities, integrating Salesforce, and customizing the accounting functions and reporting features were necessary for the continued success of the business.

The Situation

Brad Westerfield began his new role at Probo Medical during a time of fast-paced growth through acquisition. As Vice President of Finance, his skills and expertise navigating the complexity of merging with acquired businesses was put to the test. A wildcard that certainly put at risk his ability to put his best foot forward was that the company was in the middle of an accounting software transition (not to mention the COVID-19 pandemic had put much in doubt regarding business growth).

Moving away from QuickBooks was paramount, since handling a multi-entity structure with multi-currency capabilities, integrating Salesforce, and customizing the accounting functions and reporting features were necessary for the continued success of the business.

There were internal business processes that also had to change to uphold the integrity of the accounting functions. Brad noted, “Since our systems were disconnected, non-accountants were forced to make journal entries in our accounting software. Salesforce is our inventory management, our CRM, and our operations. For those to be disconnected completely from accounting was not ideal for business processes and internal controls.”

With the company in acquisition mode, the ability to reach the goal of building a scalable business was at risk by continuing to use QuickBooks. Deciding upon and integrating a viable, scalable accounting and operations solution was now critical.

The Solution

Brad was not new to making the decision to change an accounting software platform. In fact, at a prior company he led the team that made the move to implement the cloud-based financial accounting solution Sage Intacct. Based on the positive experience, he anticipated this choice would bring similar success to Probo Medical.

In consultation with Leaf, Brad reviewed the business problems Probo Medical was facing, and with confidence presented Sage Intacct as his preferred choice to the leadership team and the private-equity firm that owns Probo Medical. He understood that this choice would not only solve immediate business problems but also handle future needs.

Brad stated, “Ultimately, our business is in a much better position by making the choice to go with Intacct.”

The Results

One example of immediate improvement in business processes Brad specified was the automated creation of a journal entry when a certain set of business rules are followed, ending with a product marked as sold in the operations software, Salesforce.

“We’ve already seen a tremendous reduction in duplicate work which was a big pain point going into this. We now have some really cool automated processes, internal controls, IT controls, everything you can think of that you’d want out of a properly functioning Salesforce to Sage Intacct integration.”

“Our equipment acquisition team in the procurement department has seen the biggest increase in productivity. And every day, our accounting team is seeing more and more benefits.”

“What we now have with Intacct is something that is very scalable. It’s the best middle market multi-entity accounting software out there, not even close. Having this new capability has been awesome. I don’t need to worry about it scaling to our needs, it just works. With any other software, the integration and scalability with Salesforce would have been a major concern.”

“The scalability is the number one feature, and I truly believe it will prevent us from having to hire additional staff. This is real cost savings for us, and impacts return on investment rather quickly. I’ve never seen anything that processes intercompany stuff like Sage Intacct. The dimensions are intuitive, building out reports without a lot of manual labor.”

“The immediate benefit to our CEO and board of directors is that they’ll see not only an income statement for Probo Medical, but they’ll also see a statement for parts, equipment, rental, and everything combined together. Additionally, the overhead cost centers are broken out with dynamic allocation of overhead. This will lead to full on departmental profit and loss statements for our revenue centers. I’m especially excited about this since it’ll provide more visibility into our profitability by business segment.”

Brad noted that, “Leaf has been great to work with, and we’ve been nothing but satisfied in the big strides we’ve taken together. I’m really excited to get the first P&L produced and get other executive team users going so they can see live data and reports. I have been nothing but satisfied with our ability to get through a lot in a short amount of time. We have laid the foundation to support our business growth – now comes the fun part.”

About Probo Medical

Probo Medical is a comprehensive medical device company that provides a wide range of diagnostic ultrasound services with headquarters in Fishers, Indiana. Their mission is to drive down worldwide healthcare expenses by providing low-cost equipment and repair solutions. The people at Probo Medical believe that “costs saved should equal lives saved, which is why we deliver high-quality medical equipment to customers and also donate it to where it is desperately needed in every corner of the world.”

Read the PDF version PROBO Medical case study here.

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