{"id":10307,"date":"2021-12-06T15:06:59","date_gmt":"2021-12-06T15:06:59","guid":{"rendered":"https:\/\/www.intelligentcio.com\/apac\/?p=10307"},"modified":"2021-12-09T09:06:34","modified_gmt":"2021-12-09T09:06:34","slug":"sage-intacct-supports-new-business-strategy-at-360-capital-group","status":"publish","type":"post","link":"https:\/\/www.intelligentcio.com\/apac\/2021\/12\/06\/sage-intacct-supports-new-business-strategy-at-360-capital-group\/","title":{"rendered":"Sage Intacct supports new business strategy at 360 Capital Group"},"content":{"rendered":"\n

Australian investment specialist 360 Capital Group achieves efficiency and time savings through automation with Sage Intacct.<\/em><\/strong><\/p>\n\n\n\n

To meet the company\u2019s new broader strategy required the right level of resources and the right systems in place, says Glenn Butterworth, the Chief Financial Officer at 360 Capital Group.<\/p>\n\n\n\n

\u201cThe key challenge we have faced over recent years is the growth of the business. We\u2019ve diversified our product range and we are now operating globally, so we needed the resourcing and systems to support this growth,\u201d said Butterworth.<\/p>\n\n\n\n

Another challenge 360 Capital Group faced was the fact it had to undertake a lot of manual work. Butterworth explains: \u201cWe had to rely a lot on spreadsheets and reconciling, mapping and integrating data outside of our core accounting system.\u201d<\/p>\n\n\n\n

The organization also had a number of challenges with some of the funds they operated overseas, which are often very complex structures and operate in foreign currencies.<\/p>\n\n\n\n

The search for the right software package was supported by Stefan Coetzer, the Director of Business Solutions at Sage partner MicroChannel.<\/p>\n\n\n\n

Coetzer said: \u201c360 Capital Group has some really complex investments and needed a complete financial management oversight of its business. It also needed a cloud platform that would enable it to access this information at any time and from anywhere.\u201d<\/p>\n\n\n\n

Coetzer also realized that they needed a software solution to match the structure of the business. He explains: \u201c360 Capital Group has a multi-company structure, with local companies in Australia as well as companies around the world, which require multi-currency and multi consolidation. They take the word multi to a whole other level!\u201d<\/p>\n\n\n\n

Time and efficiency savings<\/strong><\/p>\n\n\n\n

Butterworth explains that while using Sage Intacct over the past 18 months, he has seen the serious benefits from time saved during month-end reporting.<\/p>\n\n\n\n

\u201cWe have managed to reduce the time spent for month-end by two days, which is over a 25% improvement. Also we have seen an improvement in reporting across the group,\u201d he adds.<\/p>\n\n\n\n

In addition to the efficiency savings provided by Sage Intacct, Butterworth adds that it now has a system which can keep up with the growth of 360 Capital Group.<\/p>\n\n\n\n

\u201cWe have built a strong platform that can now be scaled up to meet our long-term objectives, and the current environment offers us a lot of opportunities to do this. Ultimately, we aim to become the leading Australian alternative asset manager,\u201d said Butterworth.<\/p>\n\n\n\n

Real-time reporting allows for quick decisions<\/strong><\/p>\n\n\n\n

Coetzer realized that 360 Capital Group needed a system which enabled it to rapidly make decisions, including adding new businesses to the group.<\/p>\n\n\n\n

\u201cThis is what they do \u2013 they are in the business of acquiring other businesses, and this is where Sage Intacct really made a difference. It has strong functionality and allows for rapid deployment,\u201d he adds.<\/p>\n\n\n\n

Butterworth agrees, saying that Sage Intacct allows them to do everything in real-time, which supports their agile decision-making approach.<\/p>\n\n\n\n

\u201cIt\u2019s helped across the group in terms of statutory reporting and management reporting. It\u2019s given operational managers the details they need in terms of performance across the businesses. Having Sage Intacct has just been really critical in helping our decision-making,\u201d adds Butterworth.<\/p>\n\n\n\n

Technology to support the changing world of finance<\/strong><\/p>\n\n\n\n

Butterworth and Coetzer have seen how the world of finance has changed rapidly in recent years, with new technology playing a big part in this transformation.<\/p>\n\n\n\n

\u201cThe role of technology in the financial industry has revolutionized the role of the Chief Financial Officer,\u201d said Butterworth. \u201cHaving digital dashboards, business intelligence tools and Artificial Intelligence have really made the CFO\u2019s role critical across the whole organization.\u201d<\/p>\n\n\n\n

Coetzer is interested in seeing where technology takes the world of finance next and believes that Sage products are going to play an important role in that evolution.<\/p>\n\n\n\n

\u201cWhat gets me excited about the future is seeing technology that never sleeps, available anywhere and anytime around the world. Technology that never stops innovating. And this is what Sage is great at,\u201d concludes Coetzer.<\/p>\n","protected":false},"excerpt":{"rendered":"

Australian investment specialist 360 Capital Group achieves efficiency and time savings through automation with Sage Intacct. To meet the company\u2019s new broader strategy required the right level of resources and the right systems in place, says Glenn Butterworth, the Chief Financial Officer at 360 Capital Group. \u201cThe key challenge we have faced over recent years […]<\/p>\n","protected":false},"author":18,"featured_media":10308,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,50,55,40,44,54],"tags":[2801,1222,705,707],"class_list":["post-10307","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-analysis-case-studies","category-case-study-newsletter","category-oceania","category-software","category-top-stories","category-used","tag-360-capital-group","tag-australian","tag-sage","tag-sage-intacct"],"acf":[],"publishpress_future_workflow_manual_trigger":{"enabledWorkflows":[]},"_links":{"self":[{"href":"https:\/\/www.intelligentcio.com\/apac\/wp-json\/wp\/v2\/posts\/10307","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.intelligentcio.com\/apac\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.intelligentcio.com\/apac\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.intelligentcio.com\/apac\/wp-json\/wp\/v2\/users\/18"}],"replies":[{"embeddable":true,"href":"https:\/\/www.intelligentcio.com\/apac\/wp-json\/wp\/v2\/comments?post=10307"}],"version-history":[{"count":9,"href":"https:\/\/www.intelligentcio.com\/apac\/wp-json\/wp\/v2\/posts\/10307\/revisions"}],"predecessor-version":[{"id":10436,"href":"https:\/\/www.intelligentcio.com\/apac\/wp-json\/wp\/v2\/posts\/10307\/revisions\/10436"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.intelligentcio.com\/apac\/wp-json\/wp\/v2\/media\/10308"}],"wp:attachment":[{"href":"https:\/\/www.intelligentcio.com\/apac\/wp-json\/wp\/v2\/media?parent=10307"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.intelligentcio.com\/apac\/wp-json\/wp\/v2\/categories?post=10307"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.intelligentcio.com\/apac\/wp-json\/wp\/v2\/tags?post=10307"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}