Red Mountain Weight Loss Scales Strategically with BT Partners and Sage Intacct
Industry
Healthcare
Solution
Sage Intacct
In Business Since
1990s
Customer Since
2012
Red Mountain Weight Loss
Red Mountain Weight Loss is an extraordinary exception in an industry where trends and the companies that promote them continually come and go. The Company that started as a small practice in the early 1990s today has 17 locations and has served more than 250,000 patients on-site and through a growing telemedicine practice. To grow its operations in lean and strategic ways, Red Mountain made a smart investment in technology, choosing Sage Intacct as its financial management system and BT Partners as its business partner.
"We had a good feeling about BT Partners right from the start. They have a high level of technical expertise, are friendly and helpful, and they price their services fairly."
Starting Off Right
When Wendy Capraro, Red Mountain’s Director of Finance and Financial Support Services, joined the Company a decade ago, it had just migrated from QuickBooks to Sage Intacct. “Sage Intacct hadn’t even been configured yet,” she recalls. “We were working with a CPA firm, but they weren’t equipped to help us. Our staff interviewed two or three Sage Intacct business partners before choosing BT Partners. We had a good feeling about them right from the start. They have a high level of technical expertise, are friendly and helpful, and price their services fairly.”
Centralized Chart of Accounts
At the time it implemented Sage Intacct, Red Mountain was comprised of just three entities. As its operations expanded throughout the country, Wendy was impressed with how quickly she could create new entities representing each location. Sage Intacct allows for a centralized chart of accounts with the flexibility to accommodate entity-specific needs, ensuring uniformity while allowing for entity-specific reporting.
“It’s quick and easy to create new entities as we grow,” Wendy explains. “We’re able to use the same general ledger structure for each, which saves time and makes reporting much simpler.”
Inter-Entity Made Easy
Companies with multiple entities often need to record transactions between these entities. Sage Intacct makes it simple to enter and track inter-entity transactions, saving valuable time, ensuring accurate accounting, and maintaining visibility and control over the movement of funds and resources.
Reporting On the Big Picture
Sage Intacct allows Red Mountain to consolidate financial data from its multiple entities easily. For example, it can produce financial reports that effectively roll up all the locations in a particular state. This ability to consolidate information across entities streamlines the process of combining financial statements, including balance sheets, income statements, and cash flow statements, and provides a comprehensive view of the entire organization’s financial health.
Perhaps even more valuable than consolidating reports is the ability to isolate and report on its various business segments using Sage Intacct dimensions. “In addition to our weight loss operations, we offer medical spa services within certain retail locations,” explains Kathy Hanrahan, Red Mountain’s CFO. “One physical location may house both segments, but we need the ability to look at how each segment is performing on its own. We use the dimension feature to achieve this. We can also look at a business segment within one location, or across all locations and make adjustments to drive profitability and efficiencies.”
Fueling Informing Decisions
Healthy growth requires access to real-time business data. The level of granularity Red Mountain is able to draw from the application informs the management team and helps them make strategic, informed decisions. “As the economy slowed, we were able to proactively analyze our labor costs at each individual location and make adjustments between locations accordingly,” explains Kathy. “The ability to analyze revenue, labor, and other key expense categories by location and business segment allows us to better manage our operations and continue to grow the business.”
Sage Intacct supports the use of non-financial journal entries, which Red Mountain uses to track labor hours. As a result, the Company has several years of history from which to draw productivity trends and insights. This data has been key in developing forward-looking financial models and plans.
Connected Operations Platform
BT Partners is currently working with Red Mountain to fully activate the Sage Intacct Inventory and Purchasing modules in order to streamline the integration of Sage Intacct with Salesforce Health Cloud with Sage Intacct — creating a powerful, connected platform that manages data from the patients’ point of service throughout the operations. “BT Partners plays a key role as the intermediary between the two systems. Their technical experience and expertise is proving invaluable. Once finalized, Sage Intacct will be a single source of truth for the Company’s financial data and operations,” Kathy explains. “This integration eliminates significant manual entry steps and causes data to flow freely from our point-of-sale system directly into our accounting platform, allowing us to redeploy our team and expand our reporting capabilities.”
BT Partners introduced Red Mountain to other native Sage Intacct integrations as well to support its eCommerce platform. “In 2020, BT Partners assisted us with implementing Avalara for tax compliance,” notes Wendy. “It’s important to us to leverage other applications with our financial management system — it extends the value even further.”
Growing Lean and Strong
Thanks in part to the efficiencies Red Mountain has gained with Sage Intacct and the strategic advice from BT Partners on further integrations, the Company has access to critical data and information to help grow its operations efficiently.
As a trailblazer in helping individuals achieve their wellness goals, Red Mountain Weight Loss embarked on its own transformative journey fueled by innovation. By embracing a modern, cloud-based financial management system and a dedicated business partner, Red Mountain has not only streamlined its financial operations but also harnessed the power to scale the business, empowering its team and clients on a long-term path to success.