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Sage Intacct kickstarts process overhaul for Colmore PS

Colmore PS - United Kingdom

Leading fintech distributor streamlines entire financial process with Sage financial management solution
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Inherited systems hindering innovation

Legacy solutions and inherited processes meant long-winded and fiddly manual process were hindering the way Colmore PS wanted to operate. The company needed a simple way to create a centralised financial data repository with increased flexibility and more automation.

Sage Intacct had the functionality we were looking for around consolidations, multi-entity and multi-currency; and it’s good value for money.

Andy McKeon
Group Financial Controller

Accelerating processes

One of the first areas for overhaul was invoicing, with Sage Intacct helping the company save over six hours per month through new invoice processes. The finance team can easily track any outstanding invoices or payments to suppliers, and weekly bank reconciliations go through the system to monitor cash levels. 

What previously took five minutes per invoice is probably now a minute per invoice, which, when you’ve rolled out over 100 invoices a month, is quite a saving.

Andy McKeon
Group Financial Controller

Optimising monthly consolidation

With four entities based in Switzerland, the UK and the US — all operating in their own currencies — monthly consolidation for Colmore PS was a very complex, time-consuming task with a lot of manual inputting. With Sage Intacct, consolidation is now a one-click process, taking just five minutes instead of several hours each month.

There has been a significant reduction in the levels of stress associated with our monthly consolidation now we aren’t using spreadsheets.

Andy McKeon
Group Financial Controller