Praxi OP Cuts 40 Hours from Monthly Reporting with Sage Intacct

“We’re always looking to improve, and MicroAccounting has been a tremendous resource, always ready with answers and new ideas to help us optimize our processes. The partnership truly adds value to our business.” –Kevin O’Donnell, Controller, Praxi OP

Praxi OP is a forward-thinking practice management firm supporting 25 clinics and 125 doctors. It specializes in delivering best-in-class administrative and operational services to medical practices. Driven by a commitment to excellence and innovation, Praxi OP continuously looks for ways to improve efficiencies and provide value to its customers. When the organization’s existing financial systems started to limit its ability to produce accurate, timely reports, Praxi OP knew it was time to find a modern, cloud-based financial management solution that could work as hard as it does.

MicroAccounting Guides the Transition from Sage 100 to Sage Intacct

With their expertise in medical revenue cycle management — and their proven track record of tailoring solutions to meet the unique needs of healthcare organizations — MicroAccounting was the ideal partner to guide Praxi OP through the transition from Sage 100 to Sage Intacct.

Report Automation Saves Controller 20 Hours Each Month

One of Praxi OP’s most significant challenges in Sage 100 was producing accurate financial statements for each physician. Many of the invoices they receive cover expenses for the entire group, and the finance team must then allocate costs to the clinic and individual doctor levels. Entering over 2,000 allocations each month — each with its own unique formula — made for an immensely tedious and time-consuming process. As a result, Kevin O’Donnell, Praxi OP Controller, and his team frequently worked late into the evening to complete financials by month-end.

With Sage Intacct and strategic direction by MicroAccounting, Praxi OP has revolutionized this process. What used to take hours to complete can now be done in minutes. According to Kevin, even simple allocations that previously consumed an hour of his time now take just five minutes, slashing overall financial reporting time by more than half. Additionally, Praxi OP can now handle everything in-house, eliminating the need for outsourcing to external teams, which saves significant time and cost.

Overall, Kevin says the time spent preparing monthly reports has dropped by 40 hours. “It’s saved me alone over 20 hours,” he notes.

A Fast, Collaborative Implementation

MicroAccounting met Praxi OP’s aggressive implementation timeline of just 30 days. Kevin attributes the success to MicroAccounting’s industry experience and the intuitive design of Sage Intacct. “The result was a smooth transition that allowed us to start generating a return on investment almost immediately,” Kevin recalls. “MicroAccounting understood our industry and our challenges from day one. Their expertise and customer-first approach led to a smooth, rapid transition.”

MicroAccounting’s team built over 200 custom financial reports tailored to Praxi OP’s specific needs, allowing them to deliver detailed financial packages to each doctor quickly and accurately. Kevin lauds the simplicity of creating new reports, noting how easy it is to copy and paste report structures to meet evolving demands from physicians. “Creating new reports is so much easier now,” he says. “I can copy and tweak existing structures to meet our doctors’ changing needs. It’s fast, efficient, and gives me the flexibility to deliver exactly what our stakeholders want to see.”

“MicroAccounting understood our industry and our challenges from day one. Their expertise and customer-first approach led to a smooth, rapid transition.”–Kevin O’Donnell

Real-Time Insights and Scalability for Growth

One of the game-changing features of Sage Intacct for Praxi OP is the user and role-based dashboards. These give client services managers in the clinics real-time access to their reports and the ability to drill down into individual invoices as needed. Soon, Praxi OP plans to extend this functionality to the doctors, further improving transparency and efficiency.

For Kevin and the finance team, Sage Intacct is transforming their operations. Gone are the days of long hours and weekend work. They’ve regained control of their schedules, gaining back valuable time in their personal and professional lives. “Sage Intacct has changed how we work and our work-life balance,” Kevin says. “Before, weekends and late nights were the norm. Today, we’re finishing everything within the regular workday and have won back valuable time.”

The scalability of Sage Intacct is also critical for Praxi OP, which is continually looking to leverage technology to achieve internal efficiencies and support future growth. Kevin reflects that if they were still using Sage 100, they wouldn’t be able to keep up with the increasing demands on the finance team. With Sage Intacct, they’re not just keeping pace – they’re ahead of the curve.

Streamlining AP and Payroll with Integration

Integrating Sage Intacct with Praxi OP’s payroll system and AP automation platform has delivered even greater efficiencies. Handling thousands of transactions each month, the finance team now spends less time managing these tasks and more time on strategic planning and other initiatives.

With Sage Intacct’s AI-driven GL Outlier feature, Kevin can instantly identify potential issues that previously would have taken hours to research. This real-time access to information has improved accuracy and built trust between the finance department and other teams across the organization.

Bank Reconciliation Automation Saves Nearly 40 Hours Each Week

Before Sage Intacct, managing the hundreds of thousands of cash transactions flowing through Praxi OP’s eight bank accounts each month was a monumental task, requiring a full-time outsourced team in India to reconcile the accounts. Now, the Sage Intacct Bank Feed feature pulls bank data in automatically. MicroAccounting crafted custom rules the application uses to identify and correctly match various transactions. The bank reconciliation process works so well that about 95% of the transactions are automatically matched, requiring no input from staff. What once took 45 hours a week now takes just six — and provides vital, near real-time insights into Praxi OP’s daily cash position.

Building a Culture of Efficiency and Collaboration

For Kevin, the improvements brought by Sage Intacct and MicroAccounting have been transformative, not just for the finance department but for the organization as a whole. The automation of routine tasks and the ability to manage by exception have freed up time to focus on more strategic activities, turning finance into a value-adding department rather than one bogged down by transactional work.

The cultural impact has been just as significant. By reducing the workload and eliminating the need for late-night and weekend work, Praxi OP has fostered an environment that promotes employee satisfaction and retention. With fewer outsourced tasks and more control over processes, the finance team is more engaged and empowered than ever.

The Path Ahead: A Future of Continued Growth and Innovation

Looking to the future, Kevin sees a long-term, continuing partnership with MicroAccounting. They regularly attend MicroAccounting-hosted webinars and in-person events to stay updated on the latest product features and innovations. With a commitment to continuous improvement and the scalability of Sage Intacct, Praxi OP is well-positioned for growth — Kevin jokes that the newfound efficiency even means he can take a vacation.

With help from Sage Intacct and MicroAccounting, Praxi OP has transformed its financial operations, driving efficiency, accuracy, and scalability while creating a collaborative, forward-looking environment. “We’re always looking to improve, and MicroAccounting has been a tremendous resource, always ready with answers and new ideas to help us optimize our processes,” Kevin concludes. “The partnership truly adds value to our business.”