FNB chooses ACCPAC Advantage Series

Local ACCPAC business partner, Alltek Systems, has upgraded the creditors systems of FNB Corporate Bank, one of SA's largest banks.

"The automation of our accounting divisions started four years ago when Alltek installed the ACCPAC Advantage Series 3," says Safeeya Khan, financial manager of FNB Corporate. "Once we'd moved over, it was difficult to believe that we'd run our business manually for all those years."

Alex Angus, managing director of Alltek Systems, says the ACCPAC system fulfilled FNB's needs. "Processes were being duplicated throughout FNB's then manual accounting process. Time was being wasted, documents misplaced and important information was not available on hand and had to be searched for manually.

"We approached FNB with the ACCPAC Advantage Series version 3, showed them how simplified their accounting processes would become and they were sold, and they haven't looked back. The fact that we've recently upgraded them to version 5 proves that the ACCPAC solution is doing its job."

Jeremy Waterman, managing director of ACCPAC, says the ACCPAC Advantage Series 5.0 offers true integration and anytime, anywhere access that mid-market customers want and need to remain competitive. "Businesses need unlimited access to their data, interoperability with front office functions and a convincing return on investment - ACCPAC fulfils these needs with Advantage Series 5.0."

ACCPAC Advantage Series 5.0 includes seven core modules: System Manager, General Ledger, Accounts Payable, Accounts Receivable, Order Entry, Inventory Control and Purchase Orders. The advanced architecture allows for deployment over the Web, so users always have access to critical information.

"Although we predominantly use the Account Payable module, we know that we can always expand on that if the need arises," says Khan. The Accounts Payable module provides accounting features that streamline FNB's entire creditors process.

The company can now control document flow, prioritise payments, negotiate terms and reduce supplier frustrations, all in a timely manner. "Within months we could see an enormous increase in productivity allowing staff the confidence and job satisfaction they deserve and allowing management to step back from daily queries to manage the process and outsource the facility to other FNB and RMB departments within Bank City."

The Accounts Payable library of accounting and reporting features facilitates rapid entry of vendor invoices, flexible cash disbursement and full check reconciliation.

"Reporting has also been made easier thanks to the ACCPAC system. With its accounting and reporting features, Accounts Payable provides the management and auditors with detailed information, on the fly." explains Angus.

"Furthermore, with the help of customised interfaces, FNB can now interface from external systems directly into the ACCPAC system and through to its mainframe. The only manual function that remains is the checking of the processes. You can't ask for much more than that in hectic banking environments," he concludes.