Scalable, Cloud ERP Software Enables Painless Growth
Yardstick is a fast-growth company that’s become an award-winning powerhouse in the high- stakes licensure, certification, online training, and psychometric space. As Canada’s leader in online testing and training, the business operates multiple entities across North America, and recently acquired a large publishing house. In order to keep pace with the company’s rapid expansion, Yardstick’s finance team recently decided to upgrade from QuickBooks to a multi- entity, multi-currency, cloud-based ERP system.
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Over the ten years it was on QuickBooks, the company’s chart of accounts had become complex and its finance team had adopted cumbersome workarounds to keep up with the sudden spike in e-commerce volume. For example, they were manually entering daily posts with aggregate funds collected through Yardstick’s custom e-commerce system, which meant that they had no transparency into revenue for specific items or customers.
Results with Sage Intacct:
- Avoided $100,000 in annual headcount costs
- Halved monthly financial close
- Gained visibility for better decision-making
- Software paid for itself in 4 months
Best-in-Class Integration Empowers a Lean Finance Team
After upgrading to Sage Intacct, Yardstick saw immediate improvements across all of its financial processes. By connecting its e-commerce software to Sage Intacct, the team streamlined its revenue-related data entry. Now, important details – including the customer, the amount of tax collected, and the specific revenue amount – are automatically pushed into Sage Intacct each time a sale is made. In addition, Sage Intacct’s pre-built integration with Salesforce
gives Yardstick sales reps direct visibility into which customer invoices are open, minimising the amount of time the finance team spends chasing down account receivable information. In addition, Sage Intacct flawlessly handles Yardstick’s Canadian VAT tax, including proper treatment of reimbursements.
“With Sage Intacct, our financial close was cut in half, and that extra time is huge for us because we’re a small team. We’re saving five days of work for four people, which gives us back 20 days of work each month that we can put into more strategic activities.”
Salma Kaida, Accounting Manager, Yardstick
Granular Financial Transparency Ensures Better-Informed Decisions
The software also provides powerful reporting capabilities that allow Yardstick to track operational and financial metrics by key business drivers. Using Sage Intacct Dimensions, users can tag individual transactions with specific customers, projects, lines of business, departments, employees, or locations, and then filter, group, and organise financial data accordingly.
Read more from the Yardstick case study here.
You can also watch the video from ResiCap on why they upgraded from QuickBooks to Sage Intacct here
If you would like more information about Sage Intacct and how this could increase efficiencies within your business, get in touch or why not watch our coffee break demo.