Incubeta

Award-Winning Digital Media Firm Centralizes Global Operations on Acumatica Cloud ERP

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Acumatica Cloud ERP solution for Incubeta

Video transcript: Incubeta - Success Story of Acumatica Cloud ERP

Incubida is a digital marketing services agency. We have offices all the way from Australia into South Africa, across most of Europe, into New York and Los Angeles as well. We are proud to work some of the biggest brands in the industry such as Marks and Spencer, L'Oreal, Disney. It's an incredibly fast paced industry. We have to really be nimble and be at the forefront of what we do industry. And then at the same time our reporting requirements, whether it be to our auditors, our banks, our stakeholders, is getting quicker and quicker. They're demanding information much faster than before. Historically we captured stuff very much in an aggregate fashion, so the degree of granularity just didn't exist in our system. And now with the system defined to give us that level of granularity and in a fairly easy manner, I'm able to extract the data and spin it into any sort of view I want. That's really been one of the biggest wins for us. What Acumatica gave us was that flexibility to customise a solution that worked best for our business. And we crafted the solution together with Palladium Business Solutions, our implementation partner. One of the things with Incubita was obviously reporting, reporting, reporting. Multi currency, multi country. So I think there's twenty two or so companies now in the group and it's growing. They're importing a ton of information and invoices so there's a lot of integrations. Ecumatica is providing the tools for us to grow with them. I think the cloud solution is probably the best thing for us. We don't have to worry about the investment or the maintenance required for physical IT infrastructure and the various security protocols around most of that. It makes working remotely really possible. During COVID, the impact on our business was so minimal that one of the team members pointed out that working seamlessly on Acumatica was the difference between working on a smartphone versus working on a Nokia three thousand three and ten. So if you were to ask the team the best thing about Acumatica they would say the Acumatica mobile app and because of the speed at which I get reimbursed for their expenses. It's about investing wisely, it's about getting bang for buck, it's about spending where you need to spend and not spending where you shouldn't be. If you work for a business is really to expand rapidly into various different territories and really become a truly global organization, I would highly recommend Acumatica to support the business on that journey. The scalability of the Acumatica solution allows us to bring users in on almost an unlimited basis, which means that our revenue ambitions are literally limitless.

Acumatica Cloud ERP solution for Incubeta

Company Highlights

Location

17 Global Locations with Head offices in South Africa, the U.K., and the Netherlands

Industry

Professional Services, Service Management

System Replaced

Sage 50, Sage 300

Region

UK

Number of Employees

500-1000

Revenue

$250M - $500M

Product Used

Acumatica General Business Edition

Applications Used

Advanced Financial Management, Fixed Assets, Project Accounting, Intercompany Accounting, Inventory Management

Sub-Industry

Professional Services, Advertising and Marketing

81%

reduction in time for monthly close, 7 weeks to 9 days

16.5 hours

saved monthly by not printing 2,000 invoices

2

acquisitions seamlessly and swiftly integrated

Challenges

Media company Incubeta operates in 17 global locations with head offices in South Africa, the UK, and the Netherlands. The company grew 20-fold in seven years, which left it dealing with 10 currencies, and four accounting teams that used four different accounting packages. Every company had a different chart of accounts, the global CFO had no remote access, and manual data entry wasted time.

“Previously a month-end close would take up to 7 weeks. It was incredibly difficult. We were very old school, operating with just email and Excel.”

Sean Reuben, CFO

Incubeta

ERP Solution

Incubeta selected Acumatica because it offered an affordable, modern platform with a user-friendly interface, multi-currency capabilities and was cloud-based, which meant employees could work from anywhere in the world. It also meant they could acquire firms no matter where they resided. Acumatica’s unlimited user licensing module would allow Incubeta to provide access to its 500 employees without increasing licensing costs.

“Acumatica’s pricing solution aligned with our acquisition strategy, allowing us to add new users with each business acquired without having to concern ourselves about ballooning costs.”

Sean Reuben, CFO

Incubeta

Outcome

With Acumatica, Incubeta gained visibility into its 17 global companies, which transformed operations. With data in one platform, the CFO dramatically reduced month-end closes, dropping from seven weeks to just nine days. Because they don’t have to print 2,000 invoices a month, they saved more than 16 hours of time. With Acumatica multi-currency functionality, transactions can be converted with a click of a button.

“With Acumatica, we’ve brought acquisitions on very quickly into our accounting structure, allowing us to visualize reporting, which was a massive benefit for us.”

Sean Reuben, CFO

Incubeta

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