Utilising Sage Intacct has resulted in DFP Recruitment, one of Australia’s leading recruitment companies, saving one day per week by eliminating manual processes around invoices, gaining real-time visibility of financial data, and benefiting from quicker and easier financial reporting.
Held back by time-consuming manual processes and limited financial visibility, DFP recruitment was facing several challenges with its legacy software, said its CFO, Cheryl Richardson.
“Our accounting software was out of date and was no longer being supported by the software vendor. It was very old-school, lacking key features that modern software provides,” she said.
“It did not have an API integration, which required a manual workaround. It also couldn’t provide us with adequate visibility of our costs. We had to print every supplier invoice and sign them by hand.
“It was very difficult for us to manage and access invoices. We had to store them in a concertina file and whenever I needed to see a cost in the general ledger, I would have to find the payment and the scanned copies.
“Another challenge we had was that our business had recently been acquired, which meant we suddenly had to deal with multiple entities within our business. Our accounting software didn’t have the functionality required to consolidate these entities.”
Upgrading to a flexible, cloud accounting solution
Facing these challenges, DFP Recruitment began browsing the market for a more capable accounting solution.
It chose Sage Intacct – a highly intuitive, cloud financial management solution that delivers deep accounting capabilities for scale-up and enterprise businesses, across all industries.
Sage Intacct helps businesses gain real-time financial insights, automate complex processes, and its open API allows users to easily share data and connect multiple solutions, including Salesforce.
Saving significant time and gaining real-time visibility
“The time savings we’ve achieved with Sage Intacct are fantastic,” said Cheryl. “Sage Intacct has helped us cut down the time we spend on accounts payable processes by one day per week.
“Thanks to Sage Intacct’s API and its integration with Salesforce, we no longer have to print out invoices and manually upload them. This really helped us during the COVID-19 crisis. Our accounts payable person was happy to reduce her hours because Sage Intacct made her work so much easier and efficient.
“Sage Intacct provides us with real-time visibility of our costs. You can access outstanding invoices with a few clicks, which makes it much quicker and easier for our accounts receivable person to chase clients for payment.
“Running reports in Sage Intacct is far quicker and easier than with our previous solution, which forced you to wait a long time for reports to be generated.
“You can generate real-time reports almost immediately with Sage Intacct. For instance, it takes only 10 seconds to generate a report with 12 months’ worth of data.
“It’s also far easier to run general ledger enquiries. It’s as simple as running a report, clicking on a number and accessing a document. This is something we lacked with our previous solution, so it’s been very helpful for us.
“Sage Intacct also gives us the functionality to consolidate and eliminate multiple entities across our business, which our old accounting software wasn’t able to do.
“We’ve only been using Sage Intacct for seven months, so there’s still a lot of functionality we haven’t leveraged yet, like being able to approve invoices within the system. I’m very excited about what we can do in the accounts payable space.
“It also helps that Sage Intacct is a very easy to use and intuitive solution. We were able to get up and running by learning on the go.
“The support we’ve received from Sage has been great. We have been supported by a local Australian team, who are always very responsive to our queries, often doing so late at night.”
