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Velosio Prescribes Successful Solution for Assurex Health
Technology Category
- Functional Applications - Enterprise Resource Planning Systems (ERP)
- Functional Applications - Inventory Management Systems
Applicable Industries
- Healthcare & Hospitals
- Life Sciences
Applicable Functions
- Business Operation
- Procurement
Use Cases
- Inventory Management
- Predictive Maintenance
Services
- Software Design & Engineering Services
- System Integration
The Challenge
With plans for rapid expansion, Assurex needed a flexible financial management system and rapid implementation approach to support this growth. Assurex had to be financially compliant externally, as well as improve their internal accounting processes. New requirements around financial consolidations between companies in the organization, reports like cash flow statements, and fixed assets management for tax purposes were top financial solution priorities. Assurex did not have structured end-to-end procurement process. Financial insight into purchase orders was difficult without a centralized data repository. There were no clearly defined roles around the request and approval process, leading to document visibility challenges.
About The Customer
Assurex Health is a personalized medicine company that specializes in pharmacogenomics and is dedicated to helping healthcare providers get the genetic information they need to determine the genetically appropriate medication(s) for individual patients suffering from neuropsychiatric and other medical conditions. Assurex Health’s proprietary technology is based on pharmacogenomics— the study of the genetic factors that influence an individual’s response to drug treatments—as well as evidence-based medicine and clinical pharmacology. The GeneSight test was developed in the Assurex Health clinical laboratory and is based on patented technology licensed from two world renowned medical centers, Mayo Clinic and Cincinnati Children’s Hospital Medical Center, who continue to be research collaborators.
The Solution
Velosio was able to successfully identify client financial requirements around consolidations, fixed assets, and reporting to design solutions to match the to-be Assurex business process and implement core modules in Microsoft Dynamics AX. They were able to keep track of company-wide transactions and balance consistently. Accessible data from transactions fed directly into reports that allowed for summaries leading to increased external and internal reporting capabilities. The Dynamics AX Workflow process enabled Assurex users to process the movement of purchase that enabled smooth document flow and transaction visibility. Workflow was configured with conditions to allow for certain roles to issue purchase orders and certain roles to be notified based upon the purchase order amount.
Operational Impact
Quantitative Benefit
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