End-to-End Cash Management Solution
Care Process & Redesign
Technology
Singapore Healthcare Management Congress
SingHealth
31 December 2018
Improve and streamline cash management processes via digital and e-payment initiatives. The solution effectively reduced reliance on cash-in-transit and improved overall cash management.
Year Submitted: 2018
Published Date: 31 December 2018
Tags: Care Process ＆ Redesign, Technology, Productivity, Time Saving, Cost Saving, Operational Management, Financial Management, Digitalisation, Automation, Financial Services/FinTech, Digital Apps, Digital Platforms
About this Content
Aims
Improve and streamline cash management processes via digital and e-payment initiatives.
Background
Manual cash handling processes were labor-intensive, error-prone, and costly.
Methods
Introduced automation, including cash recyclers and digital payment options.
Results
$48,000 saved annually; 2,717 man-hours saved; ROI of 138% over five years.
Conclusion
The solution effectively reduced reliance on cash-in-transit and improved overall cash management.
Lessons Learnt
Automation and digital transformation enhance efficiency, reduce costs, and improve accuracy.
Additional Information
Singapore Healthcare Management 2018 – Highlighted Initiative for Financial Efficiency.
Keywords
Cash Management, Automation, Cost Saving, Digital Payment, ROI.
Innovators' Details
Innovators' Details
Healthcare Cluster(s) | SingHealth |
Organization(s) Involved | KK Women and Children Hospital |
Platform(s) | Singapore Healthcare Management Congress |
Healthcare Professional Group(s) | Healthcare Administration |
Applicable Specialty or Discipline | Healthcare Administrators |
Project Lead(s) | Lee Hui Quan |
Project Member(s) | Sally Oh |
Connect with this contributor!
Lee Hui Quan - Lee.Hui.Quan@kkh.com.sg
Project Attachment
SHM_FN007_KKH_End_to_End_Cash_Management_Solution_combine.pdf