Global Growth Drives Need for Efficiency and Operational Insights
For over twenty years, STS International has provided Fortune 500 companies with the full lifecycle of IT services – from consulting and procurement to 24x7 “follow the sun” help desk services. With four different entities, and continued international expansion on the horizon, the company’s legacy system from Sage was creating headaches for the finance team due to its lack of global management and reporting capabilities.
“We were blown away by Intacct’s global consolidations capabilities and the flexible reporting and analytics, along with its overall scalability and the flexibility to plug into any other business system we needed.”
Mike Munson, Controller | STS International
Intacct’s seamless integration capabilities have also given STS a core financial system that’s connected with its additional business systems, including ADP, Concur, Kronos, and several credit card processing systems. This streamlines regular tasks that used to take two days in the previous disconnected financial system down to just a couple hours — saving at least a week of work each month.
Previous Business Challenges
- Wanted a flexible and full-featured financial accounting system to support ongoing growth.
- Required multi-entity, multi-currency capabilities for automation of time-consuming, complex manual consolidations.
- Needed to integrate accounting software with existing business applications to reduce manual data entry and improve data accuracy.
- Looking for robust reporting and dashboard capabilities to gain greater visibility into labor costs and project profitability.
Results with Intacct
- Shortened global consolidations from several months to just a few weeks.
- Cut a week of data entry each month through integration with other business systems .
- Increased productivity and minimized finance staffing needs, avoiding 2 FTEs and saving $100,000 in annual salaries.
- Provided greater insight into financial and operational trends across multiple dimensions via flexible, real-time reporting.
- Enabled data-driven decision making with accurate, timely information for optimizing project profitability and billing utilization.