Lyniate is a healthcare technology company that provides industry-leading interoperability platforms with two product brands: Corepoint and Rhapsody. Through these two primary products, Lyniate delivers simple and seamless integrations of all health data and enables rapid, scalable interoperability. By partnering with healthcare organizations around the globe, Lyniate strives to deliver cutting-edge solutions to address interoperability challenges.
As Corepoint and Rhapsody brands were merged under a single umbrella, Lyniate faced the challenge of consolidating enterprise systems, accounting procedures, and business processes. ABACI was engaged to perform a system health check, identify system gaps, and enable more effective business functions within NetSuite.
THE ABACI TEAM HAS PLAYED A PIVOTAL ROLE IN HELPING US MAXIMIZE AND ENHANCE OUR NETSUITE INVESTMENT. THEIR PARTNERSHIP AND EXPERTISE HAS ALLOWED US TO GAIN MORE FINANCIAL INSIGHT TO OUR GROWING BUSINESS.
Mark, CFO
Key Results
Improved Global Cash Flow
Decrease in total A/R to total billings by optimizing invoicing process – 23% decrease in global A/R aging 5 months
Increased Data Integrity
Decreased the number of non-compliant Revenue Arrangements by updating Fair Value formulas for Maintenance/Support allocation.
Increased Financial Visibility
Improved reporting by creating reports around revenue and billing to drive integration with Power BI analytics tool for planned revenue insights.
Services Provided
Integration
Customization
Training
Optimization
Support
How We Helped
We were engaged by Lyniate to help identify system gaps and recommend new, more effective NetSuite system processes. The initial NetSuite implementation did not fully maximize system functionality or provide automation for manual tasks. Our primary goal was to address NetSuite configuration errors, build reports and conduct user training, and improve processes.
The most immediate task was to improve the invoicing process. We set up Domain Keys, developed the PDF presentation in a way that was compliant with different countries’ requirements, and set up a workflow to optimize the sending of an invoice to multiple contacts at a customer.
Along with NetSuite-specific enhancements, we worked with Lyniate to enable other applications to be maximized. Specifically, we created detailed revenue reports to be leveraged in an integration with Power BI to provide greater insights into planned revenue.
Through our partnership, we have helped Lyniate fix NetSuite configuration errors, clean up system data and enable data completeness, and decrease overall A/R while also increasing billings.