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Cashbook – Healthcare, Epic, and Lawson S3

Hospital Image

Cashbook are excited to announce a new customer in the Healthcare industry based in Virginia, USA. There are seven different hospitals that make up this healthcare group. The healthcare software system that is used by this hospital is Epic, and their ERP system is Lawson S3. The healthcare industry is a rapidly changing environment and running a collective of Hospitals requires flexibility in terms of cash flow management and reconciliation. Healthcare companies can receive cash from many different areas, such as over the counter cash, checks and credit cards that need to be applied to Patient Invoices and Non-Patient Revenue. These companies also receive electronic payments (ACH’s) and often have lockbox files in place with their banks. Cash flow management is absolutely vital for hospital systems to sustain their daily operations.

Applying cash in Epic and Lawson Financials can make cash application and reconciliation a slow and tedious process. When you consider all out-going payments such as checks and ACH’s only appear in the AP subledger in Lawson S3, they do not flow through to the general ledger. It is clear healthcare companies have a very difficult challenge with regard to understanding and reconciling cash flows. Cashbook have over 20 years’ experience in automating Cash Application, Electronic Payments and Bank Reconciliation for various companies around the world. We have built interfaces with over 200 different banks and have a new OCR lockbox automation tool, which greatly reduces lockbox fees for our clients. We can also automate ACH receipts and remittances from sources such as email, Excel and PDF. Our Bank Reconciliation automation module can achieve world class levels of automation. We also integrate with the AP subledger to capture payment information generated for reconciliation, and to provide integration for outgoing bank transfers.

This is an exciting project for Cashbook, and one that Cashbook CEO, Greg Coulter is deeply passionate about: “We know in Lawson S3 that companies struggle with their bank reconciliation and cash application. We know that the volume of transactions to be applied to both Epic and Lawson S3 to Accounts Receivable, lends itself to a specialized cash application and reconciliation tool like Cashbook. When our new client heard about our banking integration, ACH & check payment capabilities, they said they wanted Cashbook as their single source for all bank accounts and cash processing. We can’t wait to have them live on the entire Cashbook solution.”

Mary O’Brien, Cashbook Founder & Product Director, also commented on the project: “In Cashbook, we have increased functionality that make us an essential solution in the Healthcare industry such as: Data Extraction, attachments of notes and images which all lead to a single system of record for cash. Having one place for all bank account transactions is essential for treasury management for hospitals, healthcare and all industries. When all of this is coupled together with the automation of lockboxes, bank statements, electronic payments, and bank reconciliation it shows that Cashbook are an ideal financial software partner to run a successful healthcare operation.”

If you would like to discuss how Cashbook can transform your Cash Management process, why not get in touch and request a product demo from the team.


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