COA Solutions Launches Income Management System to the Care Market

8th May 2008 - COA Solutions (formerly CedarOpenAccounts) announces the launch of its Advanced Income Management (AIM) system, a sales ledger and invoicing solution to meet the complex requirements of the care market. Integrated into COA Solutions’ OpenAccounts finance system, AIM’s sophisticated functionality and flexibility easily handles the different invoicing and cash collection requirements laid down by service users’ funding organisations.

COA Solutions has a strong presence in the care sector and provides integrated financial, human resource and payroll solutions to many leading care organisations including Runwood Homes, Brendoncare, Leonard Cheshire Disability and Caring Homes.

With AIM, care providers can easily meet the complex requirements of local authorities, primary care trusts and other funding bodies. This includes providing invoices in the correct format and at the requested time, enabling greater control of the income management process.

AIM’s superior functionality allows care organisations to easily calculate price changes and provide funders with retrospective price adjustments together with accrual and prepayment accounting. Service users’ personal details can also be quickly and simply captured and stored including contact information, national insurance number and date-of-birth.

With AIM tightly integrated into COA Solutions’ OpenAccounts, the need for a third party income system is eliminated, sparing care organisations from the costs, lack of integration and maintenance issues associated with using a separate solution.

Grahame Marsden, Care Market Manager from COA Solutions, comments, “We have established a large customer base in the UK care sector and are delighted that our care customers were instrumental in the specification of our new AIM system. Their suggestions have helped us to deliver a tailor-made income management solution that can be quickly deployed to UK care organisations, adding real value to their businesses.”

Granville Miller, Head of Accounting Policy and Development from Leonard Cheshire Disability, an early adopter of the AIM system, says “Having started to migrate to AIM, we can already see the increased benefits in, not just billing, but in the areas of reconciliation, automatic accruals and deferrals and reporting. We look forward to the increased productivity we believe can be achieved when we have moved all our billing over to the new AIM system.”