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Suren Patel
|
Owner

Hillcrest Pharmacy reduces its accounting costs by 40% with Virtual Cabinet

Hillcrest Pharmacy reduces its accounting costs by 40%, and improves its margins with Virtual Cabinet

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By 2017, London-based Hillcrest Pharmacy was facing growing regulatory and bureaucratic requirements. It decided to meet these challenges head-on with a fresh approach, using Virtual Cabinet to bring about change:

  • 40% reduction in accounting costs
  • More room on site for stock, improving margins through bulk buying
  • Minutes to scan documents, instead of 1-2 hours
  • Significant improvement in the speed for record-searching

Hillcrest Pharmacy’s pressing challenge

After 5 months in his new management role, Suren Patel was keenly aware of the Hillcrest Pharmacy's main pain points. One of his most pressing concerns related to compliance and regulation requirements, which were proving extremely time-consuming and complex. As a Pharmacy, with a significant amount of paperwork required to meet its contract with the NHS, as well as Accounting and Tax regulations, there was a large build-up of paper on site. Records need to be held for 2-7 years and a great deal of administration was needed to manage the process.

The search for a solution

Suren knew there had been many new innovations in the that could significantly help his small business. After a careful examination of the available solutions, he chose Virtual Cabinet for three main reasons:

  • The software was exceptionally easy to use
  • Its Optical Character Recognition (OCR) capability was impressive, allowing scanned documents to be automatically converted into editable, searchable text
  • Virtual Cabinet's great reputation for customers support

Sure enough - after the installation and brief training session - Hillcrest Pharmacy's employees felt confident that they could use the software to help manage certain elements of the business.

The improvements to the business

Suren is a fan of how Virtual Cabinet has helped organise his business:

"Virtual Cabinet's document management system allows us to electronically file prescriptions, Epos Till records and invoices in an organized manner. If we ever need to recall information, its powerful search functionality ensures this is easily done."
- Suren Patel, Owner, Hillcrest Pharmacy

Paper storage problems have become a thing of the past, with the freed-up space going to better use:

"We no longer keep any further paper documentation on site, as all documents and information are now scanned directly into Virtual Cabinet."
- Suren Patel, Owner, Hillcrest Pharmacy

Hillcrest Pharmacy is now able to hold more stock on the premises, as less space is needed for paper storage. They can order stock more efficiency, which has improved their margins.

Suren couldn't be happier with his decision to install Virtual Cabinet:

"There have been a large number of productivity improvements to the business as a result of Virtual Cabinet. We now scan all expensive prescriptions at the end of the month in a few minutes instead of 1-2 hours of photocopying."
- Suren Patel, Owner, Hillcrest Pharmacy

 The benefits to the Hillcrest Pharmacy haven't stopped there:

 "We have also moved to a Cloud Accounting system, with a contract accountant off-site. The ability to scan invoices to our accountant on a weekly basis has reduced our accounting costs by 40%."
- Suren Patel, Owner, Hillcrest Pharmacy

Suren wouldn't hesitate to recommend Virtual Cabinet to other Pharmacy businesses like his.

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