CASE STUDY capabilities with other systems , expensive work arounds had to be implemented to connect to other systems . leading to extraction of the data to compile manual reports .
Performance was an issue as the database transactions volumes increased . Costs increased higher than expected for maintenance of the infrastructure and IT application support .
According to Netesh Maharajh , Director , ALNET Technologies , African enterprises face multiple challenges from legacy solutions that impact their business operations and processes .
The legacy system did not have a direct integration into the bank account for automatic reconciliation so transactions had to be manually captured and reconciled . It had limited reporting capabilities
Scalability is by far the most important factor for any growing African business which hinders business expansion and adaptability to market changes by not implementing newer IT applications and IT infrastructure .
Snapshot of Sage Intacct
Financial dashboards
• Dashboards and reporting gives you real-time visibility into your business financials to help you make better , data-driven decisions
• Customisable dashboards allow role-based and process- based metrics , reports , and charts to be created for quick insights
Procure to Pay
• Streamline your purchasing process with controls and manage your supplier payments
• Create configurable workflows to enhance internal controls for accountability
• Approvals with Delegation of Authority
• Set expense limits to maintain budget compliance
• Gain visibility on AP transactions in real-time
• Automate your AP payment approvals process
Quote to Cash
Security based on legacy IT applications and IT infrastructure become susceptible to security breaches and cyber threats .
On-going maintenance costs with outdated systems and infrastructure can be expensive from a resource and technology perspective especially with the availability of advance technology platforms in this new era .
Data analytics are not supported in legacy IT systems which hinders the business to have the ability to report on data insights to make effective decisions .
Speed and agility are another critical important factor in legacy IT applications and IT infrastructure that contribute to slower response times to customers which ultimately hinders business operations .
Legacy IT systems can be very rigid which makes it difficult for the business to implement new processes or innovate leading to inefficiencies in the business operations and lack of integration capabilities with modern technologies .
• Streamline your Accounts Receivables management by automating the invoices and collections process
• Single view of all your quotes , sales orders and invoices
• Automatically posts transactions into your general ledger
• Gain visibility of your customers outstanding invoices
• Enhance internal controls for collections
• Analyse customer payment trends for quick decisions
• Save time and increase cashflow more efficiently
Cash Management
• Reduce your bank reconciliation time with Sage Banking cloud services and update your financials in real-time
• Connect to your Bank using Sage Banking Cloud Services
• Automated reconciliations with online and import capabilities
• Apply and record payments using matching rules
• Reduce audit risks – spot exceptions , manage errors , monitor fraud and maintain accurate balances
• Manage multiple bank accounts across multiple locations and entities
Poor user experience plays another important role in a business which ultimately affects the staff ’ s satisfaction , performance and productivity .
For African enterprises , wishing to modernise , new technology platforms which include Artificial Intelligence and Machine Learning provide a more structured approach resulting in time and cost savings for businesses .
Implementation of Sage Intacct
ALNET Technologies , a Sage Platinum Business Partner , was selected by Reach For A Dream to implement Sage Intacct , a best of breed cloud finance software solution .
In general , ALNET Technologies follows a well-defined approach to migrate data from on-premises to a modern cloud solution .
52 INTELLIGENTCIO AFRICA www . intelligentcio . com