Client: A Healthcare company

Industry: Healthcare

About the Client

Our Client is a healthcare company founded in Portugal that provides virtual and digital physical therapy. It provides members with access to research, videos, and tools necessary for a holistic recovery journey. Offering a musculoskeletal product called digital therapist, which connects an in-house Doctor of Physical Therapy to members who wear motion sensors and access a personalized artificial- intelligence-powered therapeutic exercise program on a tablet.

Products & Services

  • The company has a hardware solution set up in consultation with a specialist remotely or at home
  • The specialist will use a tablet equipped with the company’s software to monitor a user's system of wearable devices
  • Focuses on five key pathologies: shoulder pain, lower back pain, neck pain, and physical therapy in the wake of hip and knee replacement surgeries
  • Focuses on five key pathologies: shoulder pain, lower back pain, neck pain, and physical therapy in the wake of hip and knee replacement surgeries
  • Is a provider of physical, digital therapy & clinical services through a group of independently owned professional practices that consist of Health Care Providers, P.A., Health Care Providers of NJ, P.C., and Health Care Physical Therapy Providers of CA, P.C.

Business Requirements

  • Implement NetSuite Financials for US and Portugal subsidiary
  • Decommission Quick Books (current Legacy system)
  • Setup NetSuite to accommodate Portugal Finance Consolidation
  • Inventory Valuation for US Stock
  • Implement Multi-Book Accounting and Fixed Asset Management
  • Approval Process for purchase transactions
  • Automated Intercompany elimination process
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The Business Benefits

  • The finance process is more streamlined, and the company can manage multi-subsidiary accounting in one centralized system and have a NetSuite fixed asset management
  • NetSuite Multi-Book Accounting helped the company to maintain its primary accounting records according to U.S. GAAP and add “Local Statutory Book” to generate different versions of financial reports and statements that are mandated by local governments or industry regulations of Portugal
  • Increased Ease of customizing/maintaining invoice documents and automation of customer notifications
  • Automated intercompany elimination process performed through Period Close activities

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The Solution

  • Implemented NetSuite Financials for U.S. and Portugal subsidiary
  • Configured the system to accommodate Portugal Finance Consolidation
  • Decommissioned Quick Books which was their legacy system for financial module
  • Performed Inventory Valuation for Inventory and Assembly items in US subsidiary
  • Developed approval workflows on purchase transactions

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