16/11/2021
ONDA's Business Concierge team provide a range of book keeping, BAS, Payroll and Financial reporting services to small and medium businesses across Australia, including those in the Aged Care industry.
In this Case Study, we explore the financial and operational benefits achieved by a regional aged care provider who elected to work with ONDA in late 2020.
For more information, please call ONDA on 1800 876 017 or email ONDA's CEO, George Wilson, at [email protected]
CASE STUDY – RESIDENTIAL AGED CARE
SITUATION
A Residential Aged Care Facility, operating since 1964, provides 34 rooms offering low and high-level care to residents in South Australia’s Mid-North. Exasperated by COVID, the year 2020 presented many business challenges, first and foremost ensuring the health and wellbeing of residents and staff during the coronavirus pandemic. In addition there was a pressing need to reduce operating costs and minimise the spend on the finance function (as identified in comparison to the StewartBrown Aged Care Financial Performance Survey).
The Facility relied on a legacy accounting and payroll systems, resulting in significant employee frustration and administrative inefficiencies. The ability to deliver accurate
and timely financial reporting to management was also a concern and Payroll relied heavily on manual processes and paperwork.
SOLUTION
ONDA Business Concierge were engaged to provide a holistic financial administrative solution which included providing change management (communications and training) services to all impacted employees.
ONDA's solution included the migration from the legacy accounting system to Xero financial software and the introduction of various related initiatives such as Deputy, a rostering and timesheet application that helps to streamline Award compliance, simplified employee onboarding and improved team communications.
The Aged Care Home’s financial administration function was restructured, with accumulative financial benefits realised via reduced labour costs and associated efficiencies.
Key person risk was also eliminated, as the reliance on one team member to manage all financial administration was replaced with ONDA's team of experts.
ONDA now delivers timely and accurate financial management reporting and liaises with the Aged Care Home's external accountant to ensure formal Financial and ATO obligations are met.
KEY BENEFITS
- Directly saved $50,000 annually (0.9 FTE) in bookkeeping and admin salaries (after ONDA's fixed fees are allowed for);
- No increase in software licence fees (as a result of migration to Xero);
- A review by ONDA of general insurance, fleet costs, telephony and other key administrative expenses is expected to realise additional, ongoing savings.
NOTE: ONDA does not provide services relating to ACFI or other government financial instruments related to residential or at-home clients.
