FinaHQ for Healthcare Companies
Effortless Financial Consolidation & Compliance for Hospitals
FINAHQ automates and centralizes financial reporting for companies, enabling seamless compliance and real-time decision-making.
Hospital Industry's Challenges
Compliance with healthcare-specific regulations, SEBI, IFRS, and Ind AS standards
Siloed financial data across emergency, ICU, surgery, pharmacy, and diagnostic departments
Unique GST requirements for healthcare services, pharmaceutical purchases, and medical equipment that require specialized handling and reporting
Manual reconciliation between clinical departments, administrative units, and support services
Core Features Tailored for the Hospitals
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Multi-Department Consolidation
Seamlessly consolidate financials across hospitals into unified reports
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Customized GST Solutions
Specialized GST handling for healthcare services, pharmaceutical purchases, and medical equipment with automated monthly GST close using GSTR reports
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Excel-Based Output with Version Control
Export reports with traceability to ensure compliance & transparency.
- Case Study 1: Sri Ramakrishna Group (SNR)
Sri Ramakrishna Group: From 15-Day Book Close to 2-Day Financial Excellence
The SNR Group, based in Coimbatore, Tamil Nadu, is renowned for its contributions to education and healthcare through state-of-the-art facilities and colleges. With over 35 years of excellence, they manage 25+ units across diverse operations: colleges, hospitals, pharmacies, and hostels. However, their 15,000+ GL codes in Tally made financial consolidation a challenge, with month-end close taking 15 days. They needed a solution to reduce this to just 2 days.
Solution & Approach
FINAHQ delivered a comprehensive solution tailored to SNR's unique needs:
• Leveraged deep Tally connectors to automate key processes and accounting entries
• Automated monthly GST close using GSTR reports for seamless compliance
• Custom solutions for revenue recognition automation across colleges
• Delivered a touchless close experience for the finance team.
End Result
The transformation was remarkable:
• Reduced book close time from 15 days to just 2 days
• Enhanced accuracy with significant improvement in financial reporting quality
• Instant financial insights empowering quicker decision-making
• Automated manual tasks, increasing quality and accuracy of financial closes
• Post-implementation success in gaining instant access to financial information
Customer Quote
FINAHQ has dramatically driven efficiency in our financial reporting. Their dedication to making the onboarding seamless across multiple teams has been remarkable. I'd highly recommend FINAHQ to any group seeking simplified financial reporting.
-Seshadri Subbaraman, CFO
Empower Your Finance Team with FINAHQ!
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