search icon

Innovative neuro inclusion B Corp cuts DSO 60% as it scales using Sage Intacct

Cognassist UK Ltd

When Cognassist’s old financial management system became unsupported, other providers seemed expensive or complicated. Sage Intacct provides a service that grows with the business.

So many spreadsheets, so little time

Cognassist’s old system relied on manual data-entry and at least 10 spreadsheets to collate in accounts receivable. Its budgeting and reporting ability were severely slowed by this system.

With a fundraising round in progress, it needed to migrate the data from its legacy system to Sage Intacct seamlessly, for accurate and efficient reports to impress potential investors.

That time adds up when you’re dealing with 10 spreadsheets [with an] inherent risk of manual data entry errors.

Matt McMillan
CFO

Sage Intacct gives Cognassist more time to focus on insights and strategic decision-making.

As well as reducing manual work, Cognassist enjoys multiple efficiencies after making the switch including:

  • Reducing rev rec time from 12 hours to 30 minutes
  • Cutting days sales outstanding (DSO) 60%
  • Accelerating the monthly close from 10 to 4 days

Potential investors can now see an efficient company with organized finances, ready to deliver on its next phase of growth.

We’ve freed up time to focus on work that drives business growth.

Matt McMillan
CFO

New accountability across the business for faster growth prospects

Using the Sage Intacct automation and dashboard makes reporting much faster. CEO and founder, Chris Quickfall, can log in to Sage Intacct… see for himself,” and make more accurate, data-driven decisions.

Matt credits Sage Intacct with helping Cognassist sprint the fast track to success. “The team was thinking about our business instead of cookie-cutting. I was very impressed.”

The Sage Intacct team took the time to understand our business and make sure data was imported in a way that we could still run our prior reports during the transition

Matt McMillan
CFO