1 - Overview
Mount Sinai Memorial Parks and Mortuaries, a Los Angeles based mortuary and cemetery services company serving the Jewish community, continues to develop its client base at an exponential rate. In light of its success, Mount Sinai’s applications were put to the test.
2 - Business Challenge
As Mount Sinai grew, the excel spreadsheet system that it relied on to manage accounting processes could no longer keep up with the company's growth and disrupted business efficiency. Mount Sinai spent most of its time on extracting data and generating reports in excel spreadsheets, which left the stakeholders little to no time on business analysis.
Mount Sinai needed a reliable, scalable solution for its continued growth. Its executive team seeks to fully optimize its planning and budgeting solutions in order to alleviate these challenges.
3 - Results
In partnership with Myers Holum Inc. (MHI), RedHill Business Analytics (RBA) helped transform Mount Sinai's financial planning and analysis process using NetSuite Planning and Budgeting Solution (NSPB). The implementation of NSPB introduced Mount Sinai to cutting-edge business management tools such as custom data input forms, Reporting Web Studio (RWS), and Smart View Excel Add-In for ad hoc analysis.
Custom Data Input Forms:
In addition to out-of-the-box data entry forms and reports, customized data forms that are designed to adapt to its specific business needs and requirements were developed. The customization includes the ability to assign a specific form to a data cube, assign permissions to a form to determine which users can modify its design, and attach business rule that regulates the logic and calculations in the form.
Reporting Web Studio:
RWS is a web-based reporting solution for financial reports that allows Mount Sinai to produce a report instantly. RWS supports dynamic reporting, with which Mount Sinai can view their financials under different points of view. This simple task would have been time consuming to accomplish with their old system. NSPB empowers Mount Sinai to focus more on report analysis instead of report generation as they did in the past.
Smart View Excel Add-In:
Before implementing NSPB, Mount Sinai lacked streamlined reporting processes. They had a large amount of excel spreadsheets that often crashed due to data corruption and file size limitations. With NSPB, Mount Sinai can now take advantage of Smart View ad hoc reports that retrieve data from the cloud and analyze it in Excel spreadsheets. Smart View report not only is dynamic but also can be customized based on the user's preferences. Given the same data intersection, multiple team members can pull the exact same report, limiting the risk of financials mismatch.
Author’s note: All images used in this blog post are from a demo application