The implementation of these two modules had transformed our CPD Department from a very labour-intensive one to an efficient and automated department comparable to the best payment departments in the world.”

Johan van Eck

Financial Manager

Netcare automates 120,000+ monthly GL reconciliations with BEST

In a 6 month period, South Africa’s leading private healthcare provider, Netcare, leveraged BEST’s GL reconciliation and clearing modules to automate over 120,000 reconciliations, achieving 58% auto-approval rates and streamlining a million+ open items.

Netcare

As South Africa’s leading private healthcare provider, Netcare manages immense transaction volumes across its complex business ecosystem. With siloed, opaque legacy reconciliation processes proving unscalable, Netcare sought an integrated platform to optimise this critical finance workflow. By implementing BEST’s GL solutions, Netcare gained quantifiable productivity enhancements and system controls.

Our approach

Netcare’s goal was to identify and implement General Ledger reconciliations in SAP with BEST to deliver on the following key business objectives:

  • Implement a paperless process to save on paper costs.
  • Enable simpler and easier review of Recons – that can be accessed and approved from any location.
  • Ensure skilled resource time is spent focused on high-risk Recons and material items – and not on admin.

Leveraging their positive experience with BEST’s vendor tools, Netcare extended integration across GL reconciliations and clearing in 2021. Advanced algorithms and automation now process over 20,000 reconciliations monthly with 58% auto-approval rates. This alleviates the tedious manual effort to validate Netcare’s immense transaction volumes.

Results

With this new project, Netcare implemented the following two BEST GL Modules: 

  1. BEST GL Recons Module. 
  2. BEST GL Clearing Module.

Our impact in numbers over a 6 month period; 

  • A total of 120,960 GL reconciliations were finalised using BEST GL Recons. Representing a monthly average of 20,160 finalised reconciliations.
  • All Recons completed within the set deadlines. 
  • An average of 58% of reconciliations were automatically approved across both approval levels.
  • A total of 1,024,198 open items have been cleared using BEST GL Clearing. Representing a monthly average of 170,699 lines cleared.

Beyond efficiency, standardised controls and consolidated reporting enhance process governance across the far-reaching organisation. With paper and printing costs reduced, Netcare’s finance team can instead focus on high-risk exceptions and value-added analytics.

For Netcare, BEST delivered the integrated solution imperative to streamlining its extensive finance function. User-friendly tools drive quantifiable productivity and risk management gains.