London financial firm upgrades to Acumatica, trades data problems for new, flexible ERP
Founded in London in 2005, Fixnetix is a leading managed service provider for the global financial community. Over the last decade, Fixnetix has built a reputation as an award-winning international technology vendor. Fixnetix clients include major banks and financial institutions. The fast-growing firm chose Acumatica as its ERP provider because it needed a more robust and reliable accounting system, one that could handle multiple currencies and subaccounts.
Location: Headquartered in London, with offices in Boston, New York, and Tokyo
Application Replaced: QuickBooks
Within two months, we reduced the work and time spent preparing management accounts. It used to take 10 work days to complete what now takes 7 days.
Director of Finance
- Improved financial reliability
- Gained flexible subaccount structure
- Boosted employee productivity, saving days of work
- Gained multi-currency reporting and consolidation
- Improved financial reporting capabilities
- Reduced reliance on accounting, boosting productivity
Fixnetix needed to:
- Upgrade from Quickbooks
- Find a robust system that was still easy-to-use
- Increase reporting speed and detail
- Have multi-currency capabilities
We found Acumatica to be a very good value compared to the total cost of the other mid-range ERP systems we reviewed.
Director of Finance
Acumatica partner Tascoli (Cloudaccountinguk.com) frequently fixed Fixnetix’s QuickBooks data errors, which led to a conversation about changing vendors and an introduction to Acumatica, says Shaun Jackson, Director of Finance for Fixnetix. “We were just looking to fix the errors at the time, but once we learned about Acumatica and reviewed other cloud products, we decided to implement Acumatica,” Jackson says.
“Within two months, we reduced the work and the time spent preparing management accounts,” he adds. “It used to take 10 work days to complete what now takes 7 days. Most of the time savings is due to the automation of billing and deferred revenue/expense. Before, we had to manually generate invoices and deferred postings via journals, which was very time-consuming.” Jackson says Acumatica’s pricing structure helps them save money. “No longer is there a cost implication in rolling out the system to new users,” he said. “We will be extending the system to the consulting employees, who outnumber the accounting team, but there is no additional software license cost.”
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