Software of Excellence takes on the world with a smile thanks to Sage Accpac
As a rapidly-expanding supplier of software to the international dental market, Software of Excellence has relied on Sage Accpac to meet its growing business demands...
Listed on the New Zealand Stock Exchange, Software of Excellence (SOE) has a fast tracking business in developing software for the international dental market. It is the leading provider of software to dental schools in the
The company has seen rapid growth, with operations springing up in countries around the world.
But growth has led to complexity, and the old accounting system was unable to handle the intricacies of multi-branch, multi-currency operations. That’s why they turned to Enabling and its Sage Accpac solution for help.
Solution
The Sage Accpac system was installed over a period of several months from a clean slate – data from the previous system was not imported. The system went live three years ago, including modules for General Ledger, Accounts Payable, Accounts Receivable, Order Entry, Quick Cost, Consolidation and the “Budget Buddy” utility. The original system had only 3 companies. Since then, the operation has grown to include 5 companies. Adding new companies and expanding the system has been simple and straightforward.
“I had used Sage Accpac at another business and knew in advance that the product was capable of handling the job," says Bryce Donnell, CFO, Software of Excellence.
"We needed a system to manage the operation as a global business. We have five separate companies. The problem was that we needed to have the system work within our monthly reporting framework — all management accounts done within five days of the end of the month," Donnell says.
"Deadlines are tight and we needed speed and efficiency. We also needed to configure the system to handle local currency and tax issues in each of the different countries. We do all of the financials for the combined operation at our central office here in Auckland,” he says.
“When the system was in place, it reduced the job of consolidating financial statements from 3 days to a single hour. The need for getting financial statements out on time is critical, and we would be unable to meet our deadlines with a more cumbersome system.”
Results
As a growing software business, the rate of change at Software of Excellence has been extraordinary.
Over the past three years, companies have been added, parts of the business have been consolidated, and operations have been transformed. And, throughout this period, Sage Accpac has continued to perform and meet growing demands, continuing to provide benefits such as:
- Reducing the job of consolidating financial statements from three days to one hour
- Simplification of adding new companies and expanding the system
- Improved speed in producing financial statements.
Future
“Enabling allows us to become more efficient in areas of the business that are so unpredictable, saving us crucial time and money,” says Donnell.
For more information
Enabling Solutions
www.enabling.net
Ph: 1800 ENABLING
(1800 362 254)
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