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Financial Reporting

Financial Reporting2016-11-15T18:19:56+00:00

Project Description

AccuquestAccuQuest Hearing Centers are on the leading edge of audiology, providing the most technically accurate hearing evaluations, care recommendations, and hearing aid fittings to those who have experienced hearing loss. The company was founded in the Chicago area, but in just a few short years expanded its operations to reach from coast-to-coast. AccuQuest now services nearly a thousand people a day in their 180 offices across the country.

Question: In order to track and provide data on cost of goods sold to their individual practitioners, AccuQuest had a very time-intensive procedure in place. The report provided shows practitioners the profit margins they are selling units at, however the labor-intensive process of creating the reports meant the timeliness of any possible action was compromised. How could AccuQuest use existing tools to get the same information to their team members in real time and improve reaction response time?

Answer: The data AccuQuest needed to distribute already existed in database systems, but it could take up to a week to export the data manually and reformat it into a spreadsheet to distribute. Black | Line recommended creating a more efficient process by providing practitioners direct access to the information through MEMS, AccuQuest’s marketing information database. This meant that the data, which would be synced automatically from their existing database, could be pulled at any time without requiring any manual production or management of the information.

Custom Access Levels: Because different groups of AccuQuest employees need different information from the data, Black | Line created a real-time self-service data portal customized to the various levels of the AccuQuest business: company-wide, partner rep, and practitioner. That meant the Cost of Goods Sold (COGS) report on the MEMS interface would show an admin a report for all of AccuQuest, while a practitioner or partner rep would see only their own data. The admin could also adjust the dates covered and other report parameters. The interface also provides a dashboard where practitioners can easily view the report and then put that information into use in real time, eliminating the lag between data collection and action.

Download the original Case Study here: AccuQuest – Software – COGS System

“BLACK | LINE…CREATED A SYSTEM WHERE EVERYONE CAN ACCESS ALL THE INFORMATION THEY NEED WHENEVER THEY NEED IT. IT’S A HUGE BENEFIT TO EVERYONE AT ACCUQUEST.”

“We want our partner reps and practitioners to have the best, most up-to-date information at their fingertips so they can run their businesses. We had that data but it was difficult – using our old systems – to share it efficiently. Black | Line not only automated all the data-syncing we used to have to do manually, but created a system where everyone can access all the information they need whenever they need it. It’s a huge benefit to everyone at AccuQuest.”
Matt Clark, VP of Operations, AccuQuest Hearing Centers