Though small, the ambitions of Caystone Solutions Ltd. (pronounced “key-stone”) are big. The goal of the Bahamas-based company is to provide entrepreneurs and individuals around the globe with a variety of services, including working with government and regulatory agencies on clients’ behalf; assisting with external communications and customer relationship management; improving sales efficiencies; and timely reporting of clients’ managed investments.
To realize its ambitions, Caystone must operate with extraordinary efficiency and be able to easily manage growth. Caystone needed an accounting system capable of supporting its own business requirements as well as its clients’. The system needed to be customizable and support multiple currencies and unlimited users. What’s more, the system needed to provide both Caystone and its clients anytime, anywhere access from any web browser. Caystone required a system that wouldn’t necessitate a big—and costly—hardware infrastructure. And Caystone needed the comfort of knowing its client data was stored locally.
At its launch in August 2012, Caystone had no accounting system in place. Meanwhile, Caystone relied on Microsoft Excel spreadsheets to track everything related to its business, such as start-up costs. But such manual reporting was tedious and prone to error.