Signus is an international company that supports physicians and specialist medical personnel to find innovative and safe solutions for the treatment of spinal disorders. The company specialises in supplying spinal implant devices which are inserted into patients during surgical procedures.
Signus used a attache for both inventory and managing there accounting functionality. Attache did not produce a clear view of the cost of their inventory or the quantity of inventory held across a number of locations.
It was also quite cumbersome to use, and a lot of admin/accounting hours were spent in doing simple tasks like reconciliations, etc. It also did not have many controls in the system and made it quite simple to have staff manually journal adjustments and changes. This tended to allow for more user errors.
Further to this, Signus has a complex workflow involving multi-location consignment and a process which only invoiced customers for items after they have been used in a procedure, Signus struggled to accurately represent the reality of the inventory held in their old accounting system.
Tracking the LOT (batch) numbers of items was also an issue for Signus; and because these were never entered upon purchase it was difficult to monitor the movements of a specific item the entire way through the business process.
The combination of Cin7 and Xero was chosen as the ideal solution for Signus. This was because of the need for tracking inventory as described above, as well as numerous additional sales reporting requirements. Additional sales reporting requirements included elements such as surgeon name and patient name.
Cin7 could also handle the international reporting requirements for the entity, including costing inventory on the periodic method rather than the perpetual method.
The Cin7 stocktake process took longer than usual because of the need for information which was not required before, such as the LOT numbers of items. Once all of the stock was in the system, business resumed as normal and without any major hiccups as WhichAddOn was able to transition Signus smoothly from their old system to Cin7.
In the future Signus also plans to use Cin7’s inward consignment functionality to manage this aspect of their business. Currently
The addition of Xero to handle the accounting functionality has dramatically reduced admin time, with reconciliations that used to take a few days, now completed in a few hours. Reporting in both Cin7 and Xero are also far more advanced, and allow for a lot of customisation..
Unique reporting categories were added to allow for customised reports that used to take a considerable amount of time to build in excel. These reports can now be accessed in moments, allowing for staff to spend more time analysing and being more efficient, rather than focusing on the more manual mundane tasks.
Cin7 and Xero has worked very well for Signus and it appears as though it was a great choice for them.