Oviva Success Story
Automated billing for a fast-growing healthcare startup
The Customer
Oviva is an innovative nutrition and health service combining personalized dietary advice with a unique digital app to provide its users with individual support for targeted dietary changes.
Oviva in Figures
2014
Founding year of Oviva
97%
Percentage of people who recommend Oviva
250+
Experienced coaches in the Oviva network
200K+
Number of people treated by Oviva globally
The Challenge
As Oviva grew, they realized their existing billing and invoicing systems were insufficient to keep pace with the company’s development without additional headcount and much more efficient use of existing resources.
The new billing and invoicing solution had to solve the following challenges to pave the way for the successful scaling and expansion of Oviva's services:
Improve Financial Operations:
- Process the backlog of 4,000 invoices per month
- Reduce the time needed to create invoices and significantly reduce the cost per invoice
- Ensure on-time billing and reduce the workload of the finance team.
- Replace time-consuming, manual template creation for the unique invoice requirements of health insurers
- Minimize manual effort for payment reconciliation
- Significantly reduce late payments (50%) and improve cash flow
Quick Implementation:
- Seamless and quick integration into the existing IT infrastructure with connection to the self-developed Oviva system
Ensure Compliance
- Meet auditors' compliance recommendations to make billing processes compliant
- Reduce the risk of data breaches due to human error
Expand Business Scope:
- Launch and invoice multiple digital business models like DiGA (Oviva Direkt for Adipositas) within a few weeks
- Offer additional payment methods which were not possible due to the limitations of the existing system
The Solution
Oviva’s market research team was struck by Nitrobox’s combination of highly scalable, efficient features and a strong focus on compliance. It not only provides solutions for the Oviva billing requirements (including an international outlook), but also enabled a quick implementation. The implementation of the Nitrobox solution resulted in clearing a large backlog of invoices in a very short time, optimizing cash flow, and decreasing employee workload.
After Oviva decided to work with the Nitrobox Platform for scaling their billing and invoicing process, they were supported by a team of Nitrobox solutions architects.
Within 8 weeks Oviva’s tech team was able to integrate the Nitrobox Platform and manage its German business:
- Fast and seamless implementation of the Nitrobox Platform into the existing IT infrastructure via REST API
- Establish the Nitrobox Webportal as a real-time control center for the finance team
- Compliant invoicing automation including a set of individual invoice templates for all connected health insurers, which are automatically selected when invoices are issued, enabling accurate, timely billing without manual effort and convenient case management
- Payment management functionality including implementation of new payment providers and customer-preferred payment options to improve customer experience
- Smart accounts receivable management including centralized revenue recognition across all channels, automatic payment allocation, posting and sub-ledger closing to effortlessly meet submission deadlines
The Benefits
As a dynamic monetization solution, Nitrobox automates Oviva’s billing processes, enabling scaling, expansion, and billing of innovative, industry-leading digital health applications (DiGA) in multiple markets.
All relevant billing data is pushed into Nitrobox automatically. New orders, invoice creation, payment reconciliation, settlements, and reports are now automated in one platform.
With this dramatic reduction in manual effort, Oviva’s finance team can work efficiently within the user-friendly Nitrobox Webportal, and can now view all business models, contracts, invoices, payments, and bookings in real time. Nitrobox enabled Oviva to:
Improve scalability:Â
- Fully implement automated billing and invoicing for Germany in 8 weeks, and prepare the way for further rollouts in Switzerland and France with 3 languages within 6 months
- Establish a scalable billing process regardless of increasing invoice or patient volume
- Launch new business campaigns such as Oviva4all within 14 days knowing that the billing behind it works automatically and compliant
- Free up employees to work on projects that move the needle (like case management, product or financial planning)
Save Resources:Â
- Reduce time spent managing invoicing from 1.5 weeks per month to 1 day
- Immediate ROI from timely invoicing and clearing of 4k invoice backlog
- Reduce cost per invoice by up to 78%
- Remove the need to manually check all invoices and allocate payments
- A fast monthly closing within three working days
Reduce Risk:
- Reduce manual errors
- A fully compliant billing and invoicing guaranteeing security
About Oviva
Oviva is a pacesetting healthtech startup supporting patients to live healthier and happier lives. This is achieved by providing the best app-guided programs for changing dietary and lifestyle-related habits.
Their vision is to empower everyone to change their habits, improving their long-term health through personalized support and technology. Oviva partners with health insurers, healthcare systems, and doctors to provide easy access to much-needed care.
Founded in 2014 in Switzerland, Oviva is now a scaling multinational organization with offices across Switzerland, Germany, France, and the United Kingdom.
Learn more about Oviva: www.oviva.com
About Nitrobox
Nitrobox is an innovative SaaS solution, helping enterprises scale their complex revenue processes and manage smart billing and pricing models, such as subscriptions, pay-per-use, digital one-time transactions, or any hybrid model.
Nitrobox provides all order-to-cash capabilities in one central platform ranging from smart contracts, billing and invoicing, and revenue recognition to payments and dunning.
Based in Germany, Nitrobox operates globally and collaborates with clients from more than 70 countries worldwide, enabling them to achieve top-line growth while reducing costs and increasing customer lifetime value by ensuring great customer billing and payment experience.
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