London – 5th September 2018 – Sage Business Cloud customer Thinscale Technology today announced that is has improved efficiency by 75% in its business, which provides server and desktop virtualisation software.
The company, which has been recognised by the Deloitte Technology Fast50 and is the 4th fastest growing technology company in Ireland, has seen the improvement since working with Sage, the market leaders in cloud business management solutions.
The combination of rich functionality within Sage Business cloud financial and tight product integration with Salesforce, means ThinScale Technology has seen a transformation of its day-to-day accountancy processes. Sales colleagues are 9% more efficient in their use of time and there has been a 50% reduction in debt collection times. The company has also seen a 15-20-day improvement in working capital per year.
ThinScale Technology had been using a disparate legacy accounting solution that was not compatible with a business model built around the Salesforce ecosystem. Previously, invoices were raised in MS Word documents, logged in MS Excel spreadsheets and payment receipts recorded beside them. Every two months the accountant would have to manually re-enter Excel data into the accounting system to create the digital sales ledger – an unnecessary administrative task that did not add any value to the customer experience and did not give management a clear view of what was outstanding at a given point in time. A recent report from Sage suggests that businesses globally lose the equivalent of 5 per cent of their time to admin tasks – The equivalent of £434,866,084,311 lost per year.
Built on Salesforce.com, Sage Business Cloud Financials enables ThinScale’s sales team to generate an invoice directly from the sales opportunity that was set-up in Salesforce Sales Cloud. The invoice is automatically dispatched to finance, where it’s reviewed and posted into accounts, after which the sales person can send out an invoice.
With sales volumes growing 400% in two years, the company needed a system that could scale with their business. Sophisticated posting rules in Financials, make it easier to tag customers and follow transactions, while real-time reporting capabilities quickly make critical information easily available to the business. Financials also enables Thinscale to transact in multiple currencies and languages, as well as simplify multiple country compliance.
Karen Ainley, VP Product Management, Sage, said: "At Sage, we’re all about adding value to our customers’ businesses, such as fast growing high tech companies like Thinscale. These businesses move and innovate at lightning pace. Couple this with the speed at which cloud technology is changing, and you can see why there is a real need for software to provide an advanced offering that helps to future-proof businesses.
"The improvements at Thinscale shows what can be achieved when the right technology is applied properly into a business. Using it this way, can help to cut down on unnecessary admin and give a 360 view of a business’ operations and transactions, which aids greater productivity and helps business owners make the most out of opportunities to thrive."
Patricia McNeela, Head of Operations and Finance, ThinScale said: "I’ve experienced companies that spend days trying to get information out of the business systems to present at management meetings. With Financials, you just run the reports and the data’s there in real time."
"We were looking for a solution that could streamline financials and feel like part of Salesforce. Financials has absolutely done that. We know we have avoided the cost of having to change and implement new systems in the future. We don’t have any worries about outgrowing Financials."
To watch a short video about Thinscale’s use of technology in the cloud, click here.
Sage (FTSE: SGE) is the global market leader for technology that helps businesses of all sizes manage everything from money to people – whether they’re a start-up, scale-up or enterprise. We do this through Sage Business Cloud - the one and only business management solution that customers will ever need, comprising Accounting, Financials, Enterprise Management, People & Payroll and Payments & Banking.
Our mission is to free business builders from the burden of admin, so they can spend more time doing what they love – and we do that every day for three million customers across 23 countries, through our 13,000 colleagues and a network of accountants and partners. We are committed to doing business the right way and giving back to our communities through the Sage Foundation.
Thinscale Technology provide Virtualisation software solutions that enable IT to deliver the modern digital workplace without compromising on end user experience, security or performance.