CareRev moves from NetSuite to Campfire to accelerate its close
CareRev is the flexible workforce platform serving 22,000 healthcare professionals and is purpose-built for acute care. Its technology reduces fixed costs, increases nurse engagement, and makes having a flexible workforce easy.
The Company had implemented Netsuite the prior year, but acknowledged there were additional opportunities for improvement in its accounting and financial operations processes. The company was looking for ways to accelerate its monthly accounting close, maintaining two way sync to its proprietary invoicing and billing platform due to the complexity and scale of its marketplace operations.
“NetSuite is outdated and was not flexible to adopt with changes in our business, we moved to Campfire to accelerate our monthly close, streamline our technology stack, and benefit from a modern product that was always shipping new features"
John McCarthy, Interim CFO @ CareRev
Simplified billing and invoicing
CareRev created its own invoicing and billing software that was integrated with Netsuite through an expensive middleware MuleSoft. The Company was looking to streamline its tech stack to cut costs and found that Campfire’s APIs were easy to use and robust for a direct integration between its proprietary billing software and Campfire. Two way sync was required for sending a request to the accounting software to create an invoice and then sending the invoice details back to its proprietary invoice software.
Maintaining middleware was not only expensive, but added complexity that required additional IT maintenance and ongoing technical support. The simplified approach with Campfire reduced the support burden, so CareRev’s IT team was able to focus on other tasks.
Campfire’s robust APIs and payment webhooks allowed CareRev’s to reduce the need for ongoing API calls and compute burden on their internal system. Both engineering teams collaborated together to scope the integration, and Campfire added additional API endpoints for CareRev to ensure the integration was a success.
“We saw the power of accounting automation when we moved to Ramp and we were looking for the ‘Ramp of accounting software’ when we selected Campfire to accelerate our transactional accounting workflows.”
Tabitha Romero, Director of Accounting @ CareRev
Accelerating the monthly accounting close
CareRev has complex usage-based billing with many lines on each invoice and high volumes of transactions that required a material resource investment from the team on a daily basis. NetSuite’s manual process was slowing the team down and making it difficult to accurately perform the reconciliations. After adopting Campfire, CareRev has added more robust controls and leveraged Campfire’s streamlined accounting workflows to accelerate the payment and invoice reconciliations.
Campfire’s prepaid automation and deep integration with CareRev’s accounts payable and corporate card provider, Ramp, ensured that CareRev benefited from end-to-end accounting automation. The two teams are now working closely together on AI-powered accounting workflows such as bank reconciliations and innovating together to further accelerate the monthly accounting close process.
Reinvented ERP implementation and migration experience
CareRev’s implementation of Netsuite was painful because it included limited historical data of summary trial balance information and a large resource investment (financial and time) for the team.
Campfire approached the migration much differently in three ways, 1) Campfire performed a transaction-level migration of historical data for CareRev that even included years that were not imported into Netsuite, which allowed for additional visibility and clarity on historical financial data, 2) the Campfire team scoped the implementation with CareRev and built additional functionality to improve the product experience, 3) the Campfire team was able to migrate CareRev out of Netsuite with minimal involvement from the CareRev team.
Collaborative partnership
After being a NetSuite customer, the CareRev team was seeking a partner that was more collaborative and innovative to shape the future of accounting with them. The team has a lot of input to share with Campfire with topics ranging from audit readiness, accounting workflow improvements and financial reporting feedback. Through a dedicated Slack channel, Campfire and CareRev work closely together for high-quality premium support, and to innovate together through a true collaborative partnership. Much of CareRev’s product feedback has been incorporated into Campfire which has greatly benefited CareRev with a product that suits their needs and continues to improve on a weekly basis.
About CareRev
Industry: Healthcare workforce marketplace
Website: www.carerev.com
Finance Lead: John McCarthy
Accounting Team: Tabitha Romero, Ricardo Garcia, Ashley Salmon
