Social investment fund management and advisory firm Tshikululu Social Investments has partnered with Lorge to automate and streamline its financial processes. The company is already profiting from automation, it managed to recover the costs of its initial project within a few months.
Duplicate capturing was their biggest challenge. Tshikululu was running various systems that weren’t integrated and the data needed to be captured manually across these systems. They had to capture everything in their external system and then accountants had to recapture all that information into Sage 300.
Tshikululu Social Investments, CFO, Alistair Wagner, said they partnered with Lorge to standardise and automate management accounts across all clients. “Firstly, we looked at a new system for our back office that integrates with Sage 300. We then started off by automating our payments, this was a small part of the process, but the impact was significant.
“The time it takes to authorise and process a payment is now a fraction of what it used to be. Because all the systems are now integrated, the data is automatically shared across systems – the data resides in our core line of business system and none of it goes into Sage 300. The entire process is now automated.”
Lorge, CEO, Neville Govender, said: “Lorge understands the dynamics of automated processing. We help our clients to keep operating with precise, seamless and refined integration across a full spectrum of business processes.
“That is why we provide financial services software to help businesses in credit union, banking, investment, insurance, brokerage, title and other financial services institutions to meet the challenges of today’s dynamic and competitive environment.”
Wagner, added: “Automation has made our business scalable, the volumes we are processing now in a fraction of the time is massive compared to what it used to be. If we hadn’t followed this route, we would have had to employ an army of people, there would have been many mistakes e.g., wrongful payments. These errors would also incur huge costs.”Click below to share this article