How Inspiren Saves Time with Tabs Automated AR
See how Inspiren uses Tabs to automatically analyze contracts, generate invoices, and reduce DSO, resulting in hours of saved time.
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Based in Brooklyn, NY, Inspiren provides a single, streamlined solution to manage and optimize community operations. The platform delivers insights on everything from staffing utilization to care plan accuracy and resident health. Inspiren’s team of clinicians and healthcare technologists is building the future of resident care and has won more than 20 healthcare awards since its founding in 2016.
The Challenge
Inspiren’s business model involves invoicing for hardware based on installation-based timing milestones as well as a recurring software subscription model. Additionally, with an enterprise sales motion, there was substantial variation in how invoices were customized and broken down across multiple facilities for each customer.
There were also challenges in managing what had been contracted and what actually needed to be invoiced, based on installations and milestones. This necessitated collaboration between multiple teams and systems to get the data needed for each invoice.
As a result, Inspiren’s operational team was spending significant time each month billing manually via spreadsheets. The manual process was time-consuming and often caused delays in getting invoices out, which meant delays in getting paid.
If billing mistakes occurred, it was hard to audit and track them down within the spreadsheets. Finally, the team lacked easy visibility into the status of each invoice: which invoices still needed to be processed and which were due.
If Inspiren didn’t find a solution, they would have to expand the team to support the manual workflow at scale.
The Solution
Inspiren turned to Tabs to help alleviate the burden of reviewing contracts every billing cycle to ensure accuracy and manually drafting invoices. Tabs now helps Inspiren automate the entire receivables workflow.
Tabs is able to automatically ingest contracts and group contract documentation from MSAs, SOWs, Purchase Orders, and amendments. The Tabs platform then extracts the key terms from contracts and auto-generates invoices and scheduling. The Tabs integration with Avalara streamlines the process for calculating taxes related to each invoice.
Now, the Inspiren team has a central source of truth for contracts. They are able to view generated invoices and easily customize or make edits, resulting in hours of saved time. Keeping all documents and invoices in one place, without the manual work of spreadsheets, has given the team visibility into the status of every invoice.
Inspiren now has an automated receivables process that can scale with the company, saving them time and resources as they continue to grow.
Impact
- Visibility into all contracts and invoice statuses
- Reduced time manually calculating and processing invoices
- Improved auditability and error prevention