Australian energy company enhances accounting efficiency by 30%

Australian energy company enhances accounting efficiency by 30%

Sage Intacct is helping Weston Energy, a Sydney-based gas retailer, simplify its accounting with an easy-to-use solution that provides real-time accounting visibility with intuitive dashboards and streamlined reporting and control of key accounting metrics.  

Weston Energy is a Sydney-based gas retailer, backed by Weston Aluminium, one of Australia’s leading recycling and industrial services businesses. Weston Energy helps its customers buy gas in new ways to keep the cost of energy down, offering greater flexibility and complete transparency so they can make informed decisions when purchasing gas.

Held back by limited, outdated financial management software

Chris Mouradjallian, Financial Controller at Weston Energy, said the company was facing several challenges with its legacy software.

“Our previous financial management software was very outdated,” he said.

“The solution was hosted on a server and it had very limited functionality. For instance, you couldn’t reverse or edit certain actions. It was very difficult to monitor and control our accounts receivables.

“We had a change in management within the business, so we were being asked to provide different financial reporting and data. Our previous system couldn’t help us meet these requirements.

“Ours is a multi-entity business, and our previous solution was set up on a single entity structure. We needed a modern financial management solution that would allow us to manage multiple entities.”

Upgrading to a flexible, cloud accounting solution

Facing these challenges, Weston Energy began browsing the market for a more capable accounting solution.

With the help of Sage partner Forpoint Solutions, they 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.

Mouradjallian praised Forpoint Solutions for the dedicated support it has provided throughout Weston Energy’s journey with Sage Intacct.

“The support we’ve received from Forpoint Solutions has been excellent,” he said. “They’ve guided us throughout the entire process, from helping us identify the right solution for our needs, to implementing Sage Intacct and ensuring Weston Energy gets the most out of the solution.”

Gaining financial visibility and simplifying accounting across the business

“Sage Intacct has helped us dramatically simplify our accounting processes. We can now process accounts receivables 30% quicker than with our previous solution,” said Mouradjallian.

“Sage Intacct makes it much easier to report on, monitor and control our key accounting metrics, especially our accounts receivables and accounts payables. The solution’s intuitive dashboards provide an easy-to-use hub where you can see all the critical information you need, in real time.

“It’s a lot simpler and quicker to plan our cash flow with Sage Intacct. It has also helped us speed up the process of getting paid by debtors. It’s easy to see who owes us what and chase accordingly.

“With Sage Intacct’s multi-entity capabilities, we will be able to gain much more financial visibility across our business. It will allow us to do reporting at the entity level, or gain a top level, business-wide picture of our finances. It will also help us with group reporting.  

“Sage Intacct’s multi-entity capabilities will help us gain a lot of efficiencies across our business’ entities and groups. We will be able to set up structures in one entity and transfer it over to other entities, helping us save significant time.

“Sage Intacct is a very easy to use solution. The layout and functionality are intuitive, and it was easy to learn how to use the solution, with little training.

“The support we have received from Sage has been great. They are very on the ball and respond quickly when we need support.”

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