Customer Story: Canadian Music Label Turns to Sage Intacct for New Insights to Fuel Growth

It’ can be an exciting but stressful time for a business when their rapid growth and success requires an upgrade and an overhaul of their core financial solution. This was the experience of Canadian music label Monstercat, the renowned Vancouver-based outfit that recently graduated to Sage Intacct from Sage 300, the platform which had successfully supported them on their journey until now.

Having already made the move to switch to the cloud with Sage Intacct, Monstercat were ready to leverage their new platform to help support their expansion when COVID-19 hit. Like many companies, Monstercat was forced to pivot to remote working, something that would have been difficult to do before they made the switch to Sage Intacct.

“We were getting to the point where the tools we had to track our financials were just not going to be sufficient as we added more entities and currencies,” remembers Rob Hill, Monstercat’s director of finance. “Sage 300 was sitting on a physical server, so once COVID 19 hit and our team were all working from home, that became very problematic. It was a stroke of luck that we migrated to Sage Intacct’s robust, cloud-based financial management solution right when we did.”

30% Growth in Efficiency Empowers Monstercat Expansion

Before they knew it, Monstercat were back to focusing on their expansion, albeit from their living rooms for a while. One of the instant benefits they discovered from using Sage Intacct was the reduction in admin time that let integral staff members apply their efforts to critical areas of the business that needed their attention.

Before Sage Intacct, Hill spent days compiling five reports and checking their accuracy before sending out his monthly reporting packet. And he rarely ran consolidations across the company’s Canadian and U.S. entities. Using a custom report group he recently built in Sage Intacct, Hill now produces over a dozen reports at the click of a button and can do simple consolidations or reconsolidations as needed in just a few seconds. This frees his time to provide decision-makers with valuable analysis of that information and connect with the rest of the business so he can stay informed about what’s happening.

Download the full case study to learn how Sage Intacct is helping Monstercat scale their organisation and manage multi-international entities headache-free.

 

About Monstercat

With a mission to empower creatives, Monstercat is an independent music record label based in Vancouver, Canada. Following the music industry’s dramatic changes during the first part of this century, in 2011, the company’s founders turned their passion for electronic dance music and their knack for monetizing it via YouTube into a fresh community-based approach to promotion and distribution. A few years ago, Rob Hill joined the team to provide finance support and quickly saw the need to replace their Sage 300 on-premises accounting software. He wanted to lay the groundwork to better manage and report on Monstercat’s dynamic revenue streams—spanning royalties from streaming services like Spotify, Apple, and YouTube, along with publishing revenue, physical sales, and licensing.