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MYOB delivers sound corporate support in care sector
Background
Nextt Group provides support for people with mental and physical disabilities in states along the east coast of Australia, through a staff of 2,500 professionals. The growing complexity of its multi-company structure, which used multiple financial systems, drove the decision to unify its business systems and gain better reporting. Nextt chose MYOB Advanced Business.
Too many systems
Nextt has experienced major growth in demand for its support and care services since its inception in 2003. Its revenue comes from a mixture of funding sources, including state and federal government grants from the likes of Home Care and NDIS, as well as private organisations. It runs more than a dozen different programmes and has created multiple companies to administer them. Eventually, this structure took its toll on Nextt’s financial management systems.
Nextt struggled to share financial information with its regional offices. This was impacting on its operational performance because local managers weren’t getting useful data in a timely manner.
Nextt wanted a flexible platform that could cut and report along multiple dimensions – by business unit, region and service line, and that would integrate with its Carelink CRM package. A cloud-based system was deemed essential for cost-saving and scalability. Advanced Business got the nod for its functionality, flexibility and competitive price.
"The accuracy and reliability of numbers was a real problem for us"
Multiple systems consolidated
The MYOB Partner was instrumental in helping Nextt build a new Chart of Accounts, and overseeing the complex mapping and integration of consolidating multiple systems.
Nextt now has a centralised database, and its finance teams in its regional centres are able to access information via the cloud.
"The reporting we get from Advanced Business is fantastic."
Advanced Business simplifies threefold growth
This increased depth of knowledge has brought greater operational efficiency. The interface with Carelink means invoices are dropped automatically into Advanced Business. Debtor and creditor management, invoicing and receipting have all been streamlined, and finance staff estimate the level of paperwork has fallen by 60%.
Nextt’s revenue streams have grown threefold in the space of two years through mergers and acquisitions, a process that Advanced Business has simplified. A new company can be dropped into its unified reporting structure quickly and easily.
Advanced Business has also improved the quality and timeliness of information that Nextt provides to various government agencies.
"Advanced Business will become a central clearing house for NDIS claims."
Before
- Cumbersome multiple data silos
- Disparate finance systems
- Too much manual work
- Poor reporting capability
After
- Consolidated central database
- Manual processes automated
- Vastly improved reporting and analytics
- Greater operational efficiency
- Streamlined company structure achieved
Learn more about MYOB Advanced Business
MYOB Advanced Business
Customisable, cloud-based business management platform.