“Sage Intacct’s reporting delivers critical value for our business. Rather than trying to dissect detailed transaction listings when we need to view our underlying data in a specific way, Sage Intacct lets us filter, organise, and report information in whatever format is relevant to our principal, subsidiary CEOs, or even investing partners—whether that be detailed operational insights or higher level comparisons of investment projects across entities.”

Will Stewart
Corporate Controller, MidCap Credit & Capital

Company overview
MidCap Credit & Capital is a boutique private equity firm which has grown organically and through strategic acquisitions and investments since 2009. Today it is active in the private capital markets both directly and through its subsidiary companies. MidCap Credit & Capital offers a range of traditional and boutique investment banking services, asset management services, equity investment, debt products, and private investment funds.

Results with Sage Intacct
• Scaled easily with dynamically changing multi-entity business.
• Saved 16 hours/month on global consolidations.
• Gained trusted insight into business KPIs.
• Software paid for itself in <7 months based on business value.

Diverse business gains flexible financial management system

MidCap Credit & Capital is a boutique private equity company with six product lines, including real estate investments, small business lending, and traditional equity financing. With dozens of legal entities across the United States, the organisation maintains separate general ledgers (GLs) to support each subsidiary’s distinct partnerships and operating models.

Given these complexities, MidCap Credit & Capital previously struggled to run its business on over 30 instances of QuickBooks, which simply became unfeasible as the company expanded and further diversified over the years. Eventually, the firm adopted Sage Intacct’s cloud-based financial management system and hired Will Stewart as its corporate controller. Will joined MidCap Credit & Capital from a Big Four accounting background and was immediately impressed with the company’s surprisingly robust back office software.

He shared, “After years of auditing Global 50 companies, I was used to working with enterprise environments like Oracle and SAP, and couldn’t imagine there was a product that could fit the requirements of a small but complicated business like MidCap Credit & Capital. However, I was quickly impressed by Sage Intacct’s capabilities as a fully functional, multi entity GL that supports all our different subsidiaries. It’s a wonderful system with tremendous flexibility and scale.”

Seamless multi-entity financial processes maximise productivity

Sage Intacct easily manages all the accounting needs for MidCap Credit & Capital’s broad portfolio—including decentralised payables, inter-entity transactions, and global consolidations. Even though the central headquarters office handles financials for half of the companies’ product lines, while the others each have their own management and accounting teams, everyone works together in Sage Intacct. As a result, they avoid unnecessary manual work, close the books faster, and run accounts payables efficiently.

“It’s fantastic to have all of our financials in one place with Sage Intacct. We can simply click on a dropdown and look across all of our portfolio to find answers or make entries related to any part of the business in just seconds. This is especially helpful at the corporate level, since we have inter-entity investment transactions, move capital on daily basis for cash positioning, and do monthly intercompany eliminations and consolidations. Those tasks would require nearly two days of manual checks and controls every month if we were still working in multiple QuickBooks instances, but they’re effortless with Sage Intacct.”

Will Stewart
Corporate Controller, MidCap Credit & Capital

In addition, Sage Intacct allows MidCap Credit & Capital to quickly set up subsidiaries and have those new entities either inherit the company’s existing lists, process definitions, and chart of accounts, or configure unique definitions and rules for inter-entity transactions. “The system helps us remain agile as we close and open various entities, each with their own requirements,” Will said. “As we consider investment deals or acquire more companies in the future, I have confidence that it will be very simple to add them into Sage Intacct. Our finance processes can evolve to be even more sophisticated as we continue to invest time into the software,” Will said.

Easily customisable reporting and dashboards boost business insight

Sage Intacct’s dimensions capture the business context of MidCap Credit & Capital’s transactions, operational measures, and budgets. By tagging transactions with the relevant location, project, product, customer, department, vendor, or employee, the finance team can produce detailed views of performance across all entities, understand what’s going on in each business, and easily create ad hoc financial and management reports whenever needed.

For example, MidCap Credit & Capital’s principal uses a Sage Intacct dashboard to track a range of key performance indicators, including daily cash balances, cash forecasts, projected cash flows over the next month, and more. The team no longer has to scramble to find and position cash to cover accounts payables runs or payroll, and they can evaluate and take advantage of short-term opportunities that pop up—such as a one-week cash advance loan—with more confidence that it will not put the company in a cash crunch. Everyone is now on the same page when it comes to expectations and the financial health of the business.

“One of Sage Intacct’s greatest benefits is the fact that as accountants, our small team can set up the reporting ourselves and configure things without doing tons of heavy lifting or having an IT degree,” Will said. “We don’t have to pay consultants hundreds of thousands of dollars each month to program the system or make changes on our behalf—and that is very rare in my experience. With a company like ours that’s rapidly maturing and changing its processes, a flexible system like Sage Intacct is essential,” Will concluded.

The way forward

As an accredited and awarded Sage Intacct reseller, we view our clients’ success as our own and are dedicated to helping them find their way forward. Offering ongoing support, training, and resources ensures that our clients maximise the benefits of Sage Intacct and stay abreast of the ever-evolving business landscape.

Having implemented Sage Intacct for many businesses in ANZ across diverse industries, our experience spans areas such as Software and SaaS, Family Offices, Non-profit Organisations, Financial Services, NDIS and Human Services and many other industries. Email us at Akuna Solutions for a free consultation and explore with a Sage Intacct implementation specialist how to leverage modern technology available today to future-proof your business operations.