Case Study
Pharos migrate from Sage 50 to Sage Intacct
Company Name:
Location:
Industry:
Sage Solution
Type of Business
Pharos operate a world-class subsea cable installation, maintenance and repair engineering service. With over 40 employees operating in 3 global locations, Pharos deliver a unique set of skills and services to their growing client base.
Challenge
In 2021 Pharos undertook a search to replace the Sage 50 accounting system which provided the finance capabilities for a now internationally focused and growing company.
Having grown Sage 50 considerably over the preceding years, Pharos required the capacity to account for the different business departments, projects and inventory as well as provide the analytics to properly understand, manage and report business performance.
Pharos use specialist software to handle project & service delivery and the need to have a solid financial management application which has a proven integration capability was vitally important.
ROLE OF SAGE AND X3 CONSULTING
Following a detailed discovery call, X3 Consulting presented Sage Intacct to the Pharos finance team. Careful analysis of the requirements showed Sage Intacct delivers the specific needs of the business in this phase of their transition from Sage 50 and lays a foundation for future growth and integration for years to come.
X3 Consulting worked with Pharos to segment and propose the use of different user roles to reduce unnecessary software spend as well as only proposing those modules needed today leaving room to grow the role of Sage Intacct as the business grows.
Inventory Management has been implemented to keep an up to date stock allocation both in terms of utilisation on projects at sea as well as available stock on shore.
Full financials support the inner workings of the business finance accounting with digital bank integration and the real-time bank reconciliation a great benefit to the Pharos’ finance team.
“When we came to market we saw lots of products but Sage Intacct in conjunction with X3 Consulting really stood out as a champion” said Cheryl Hewitt, Pharos Group Finance Director.
Cheryl goes on to say: “Sage Intacct holds many advantages for us as we get a true cloud application, all the finance functionality an international business needs and using the dimensional general ledger we get all the analysis we need too. We especially like the dashboard and reporting features”.
“We close the month some 40% quicker and have vastly reduced the reliance on spreadsheet use within Pharos. We have seen a solid return on investment from implementing Sage Intacct”
Result
By implementing Sage Intacct to replace Sage 50, Pharos now find themselves working with an award winning financial management application which reduces time spent on business accounting and improves management reporting.
The business now has visibility of its inventory throughout the month, can produce accurate costings reports and by virtue of the segregated user roles and delegated authority has complete control over purchasing and budget spend.
The ability to set budgets and report performance against them has improved overall project profitability reporting and helped predict when to approach the customer for additional purchase order cover.
About Sage Intacct
Sage Intacct is a cloud-based financial management software designed for businesses. It offers robust features such as automated financial processes, real-time reporting, multi-entity management, and comprehensive dashboards. With seamless integration capabilities and scalable solutions, Sage Intacct helps businesses enhance productivity, ensure compliance, and drive growth through insightful financial data and analysis.
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