Silicon Valley, USA
Intuitive Surgical (NASDAQ: ISRG)
Intuitive Surgical is a publicly traded global technology leader in minimally invasive care and the pioneer of robotic-assisted surgery. Intuitive is based in Silicon Valley and has more than two decades of leadership in robotic-assisted surgical technology and solutions.
Integro worked with Intuitive to automate a critical accounting process that was previously time-consuming and error-prone. Integro built a custom algorithm and fully automated system enabling Intuitive to automatically calculate complex and highly variable rebate payments owed to large medical institutions globally on over $2 billion in annual sales of surgical systems, instruments, and services.
Intuitive realised greater than 10x return on investment for the project in the first 12 months alone as a result of time savings and reduction in staff wages. More importantly, the system Integro built for Intuitive reduced the possibility of human errors in the rebate process, which previously had the potential to cause restatement of earnings and subsequent share price volatility.