AWCape implements Sage Intacct at COLMED Group
Meirasmus Trust – a six-company group that includes COLMED Debt Administration, Jesmarann Construction and CredEBill – has automated financial processes and gained real-time visibility into its business following the implementation of Sage Intacct, a best-in-class cloud financial management platform for the mid-market.
AWCape, one of South Africa’s foremost Sage Business Partners, was the consulting and implementation partner for the roll-out. They worked closely with Marc Meiring, the entrepreneur behind the group, to implement the platform and migrate data for all six companies from Excel spreadsheets to the Sage Intacct solution.
Meiring wanted to put in place a financial solution that would enable him to gain deeper insight into financial flows across a diverse group of companies spanning the medical, debt collection and construction industries. He wanted a platform that would enable him to track cashflow in real-time, in particular, financial transactions across different group companies.
A single-screen view of the business
“With such a diverse group of businesses, each of which is enjoying rapid growth, I needed a solution that supported multi-dimensional accounting and multiple companies,” says Meiring. “My ultimate goal was to be able to easily view each business’s financials – as well as those of the group – in real-time and on a single screen.”
Sage Intacct answers those requirements with its powerful out-of-the-box dashboards, which make it easy to track company and group key performance indicators at a glance. In addition to offering a single view of these metrics, the software makes it easy to slice, dice and drill down into the numbers for deeper analysis of expenses and financial performance.
Says Meiring: “In today’s dynamic business environment, it’s not good enough to get historical financial statements. We need to be able to understand what is happening at the group level and in each company in real-time so that we can address pain points as they arise and make decisions about cashflow that are based on up-to-the-second data. Sage Intacct gives me that real-time insight and control.”
“It was also important to me to find a modern, cloud-based solution that would enable me to access financial data and insights wherever I am. With Sage Intacct, there is no need to run on-site servers, backup data or manage licences, vastly reducing IT overhead and costs of ownership. We also have the comfort of knowing that the solution will grow alongside our businesses.”
Automating financial operations
Jeff Ryan, MD of AWCape, says mid-sized businesses with complex financial needs are increasingly turning to Sage Intacct to automate financial operations, in turn, reducing costs and eliminating human error. This enables them to better manage their financial risks and improve margins, allowing them to grow and thrive.
“With deep multi-dimensional accounting, automation for efficient financial operations and sophisticated visibility for real-time decision-making, Sage Intacct puts a powerful, flexible financial platform within reach for mid-market businesses in South Africa,” he adds. “It gives them the tools they need to navigate a complex and fast-changing business environment.”
Adds Gerhard Hartman, Vice-President, Medium Business, Sage Africa & Middle East: “Whether a business is a start-up or a diverse group with multiple currencies, revenue streams and entities, Sage Intacct allows the financial team or owner to tailor the solution to work exactly the way they need it to. By automating complex processes and delivering rich financial and operational insights, Sage Intacct enables businesses to perform at their peak.”
** AWCape recently hosted a webinar with COLMED about the Sage Intacct implementation, watch it here.