In the dynamic realm of investment, where every decision counts, CoVenture found itself facing the challenge of managing complex financials across 30 entities. The turning point in their financial journey? Sage Intacct, is a solution that not only met but exceeded their expectations, transforming their operations and empowering them to navigate the intricate world of investment management with unparalleled efficiency.
Efficiency Multiplied: A 10x Leap in Financial Management
CoVenture, an innovative investment firm with a focus on technology, alternative credit opportunities, and early-stage tech investments, sought a solution that could streamline its financial operations. Enter Sage Intacct, a game-changer that propelled CoVenture’s financial management efficiency to new heights—10 times more efficient, to be exact.
From 50-60 Hours to as Few as 6: Monthly Close Made Effortless
Gone are the days of exhaustive monthly closes. Sage Intacct slashed the monthly close process from a daunting 50-60 hours to as few as 6. This drastic reduction not only saved time but also freed up valuable resources for CoVenture’s leadership to concentrate on what matters most—strategic initiatives and business growth.
Automated Excellence: Managing 30 Profit Centers with Ease
Sage Intacct’s capabilities extended beyond the basics. It automated complex financial management processes across CoVenture’s 30 profit centers, providing a level of accuracy and consistency that was essential for an investment firm of their caliber.
Visibility Redefined: Key Metrics at Your Fingertips
In the ever-evolving landscape of investment, having visibility into key metrics is paramount. Sage Intacct introduced CoVenture to a new era of visibility, offering insights into liquidity, expense ratios, cash flows, and growth. These invaluable metrics were previously elusive, buried under the weight of manual processes.
Smart Choices: Why Sage Intacct Stood Out
Before choosing Sage Intacct, CoVenture diligently evaluated various solutions, including Oracle NetSuite, FundCount, and FIS Investran. Sage Intacct emerged as the frontrunner, thanks to its automated rules-based expense allocations, multi-entity financial management capabilities, automated intercompany journal entries, dimensions for the general ledger, and customizable reporting.
Informed Decision-Making: The New Norm for CoVenture
The efficiency gains brought about by Sage Intacct have been a game-changer for CoVenture, especially as new profit centers and projects have expanded. With more time on their hands, CoVenture now leverages Sage Intacct to track key metrics, empowering them to make informed, data-driven decisions that fuel business growth.
Isaac’s Testimony: Sage Intacct, a Strategic Partner
Isaac and other CoVenture leaders are singing the praises of Sage Intacct. Isaac notes, “Sage Intacct has been a huge value to us. We close our books much more efficiently, allowing us to make more informed decisions. I can focus my time on growing CoVenture, and not worrying about inefficiencies slowing us down.”
In conclusion, CoVenture’s success story with Sage Intacct serves as a testament to the transformative power of advanced financial management solutions. With Sage Intacct by their side, CoVenture isn’t just managing investments; they’re pioneering a new era of efficiency, strategy, and growth.