AIM Software has efficiency and data integrity in its sights to ease the burden on an industry stretched thin.
Emma Clark GUEST CONTRIBUTOR
Hello Leaders - Marketing Manager
Last updated on 21 June 2023
SPONSORED – In an industry such as aged care where staff and organisations are time-poor and stretched to the limit, the ability to manage their financial obligations in an efficient and comprehensive manner is the key to success.
With funding models changing as often as state and federal governments do, budgeting appropriately for resources is a common complaint of the industry. Coming into full effect in July 2023, every aged care service must have a registered nurse on site 24/7 and the number of care minutes per resident are increasing1. This means more clinical and care staff are required to meet these needs, leaving less operational budget for administrative staff.
When an industry’s primary mission is to provide care and compassion to members of our community, it is understandable how necessary but non-core business activities like financial management can be a second thought.
Recent reports show that a large proportion, roughly two-thirds of aged care facilities are operating at a loss and at the risk of closure2. This is due in part to increased resident care and administration costs that have been incurred as an outcome of the royal commission recommendations. There are calls for increased government funding to bridge the gap, but facilities are also seeking ways to reduce their time spent and the financial burdens of non-core tasks.
AIM Software has been in the business of providing a much-needed solution to these challenges since 1992. Their comprehensive financial management software is designed specifically for the aged care industry, with a deep understanding of the needs and objectives of organisations within the sector.
They recognises that finance is an area of the business that when not managed well can be an anathema to success and longevity. It runs parallel to the provision of care to residents – important to business success but not the primary mission of a facility or its staff. It is for this reason that AIM Software have developed their flagship Aged Care package, which includes modules for all core areas of the finance discipline – from accounts payable/receivable to payroll and rosters, to asset registers.
Their financial services package provides the highest quality product at a competitive price, ensuring all organisations can afford the tools they need to manage their financial obligations. Premium financial software becomes attainable thanks to AIM Software’s awareness and consideration of industry funding challenges.
The complexities of the aged care industry, particularly in the area of financial reporting and government regulation, mean popular commercial finance software is not suitable. Solutions that may suit a small business simply do not have the breadth required for all facets of aged care.
What sets AIM Software apart is their ethos that to be a valuable part of your business a technical solution must make life easier, not more complex. For this reason the AIM Software solution is designed around the belief that information should need to be entered into the system only once, and automatically populated everywhere else needed. This not only avoids double handling but minimises the risk of data errors.
It is this passion for the aged care industry that drives AIM Software, and has seen them achieve a position of leadership in the sector. Whether a small business or larger organisation, their software solution flexes and adapts to the needs of the user and in turn makes running a business a smoother and more streamlined experience.