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Coventure - UNITED STATES

CoVenture has more time to invest in business strategy thanks to Sage Intacct

The investment firm, which specializes in fintech, uses Sage software to gain new visibility into key financial metrics and take back time spent on data entry
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Entry-level accounting software falls short of requirements

Despite investing in new wave fintech companies, CoVenture was holding onto its entry-level accounting application. It didn’t offer the functionality and scale needed to manage the complexity of its internal accounting across multiple lines of business and a growing organizational chart.

It was just a really tedious and cumbersome process. We quickly realized we needed a new and better solution.

Isaac Strulowitz
CFO

New system provides efficiency gains overnight

With Sage Intacct, CoVenture’s finance team no longer needs to spend 50 to 60 hours closing the books - it’s all being done in as few as six hours, which marks a 10-fold improvement. It has automated a process that was virtually impossible to do at scale with their legacy system.

If you had hundreds of transactions in a given month, there was just no way to feasibly journalize all the activity in a painless manner.

Isaac Strulowitz
CFO

More informed, strategic thinking

The time savings have opened new opportunities to use Sage Intacct to track key metrics such as liquidity and expense ratios, cash flows, and growth. The result is CoVenture is able to make more informed decisions to guide its business operations.

Sage Intacct is allowing us to look at information more clearly, more strategically, and more efficiently than we could previously.

Isaac Strulowitz
CFO

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