INX Software implements Sage Intacct to improve financial processes and reporting while preparing for a new phase of rapid business growth

INX cloud-based and mobile-capable software solutions are widely used across high-risk and complex operating environments in the mining, utilities, oil and gas, and government sectors. INX serves over 240 enterprise clients, with up to one million licensed users, with an industry-leading global team enabling health, safety and environmental professionals to manage risk, achieve compliance and enhance operational efficiencies across a range of business functions.

INX Software (INX) is a globally-trusted provider of integrated health, safety and environmental solutions that are driving the creation of safer, smarter and more sustainable workplaces.

Key outcomes

• Consolidation of multiple entities and products into one system
• Cloud-native system that is scalable for business growth
• Month-end reporting time halved
• Payroll processing time reduced by 70%
• Accounts payable processing time reduced by 40%
• Elevation of finance function and team within the organisation

Scaling up for business growth in the cloud

INX Software (INX) had successfully used Sage 300 for a long time as a financial, reporting and business operations system. The legacy system was hosted on-premises and had served the company well for nearly a decade. Facing a period of sustained growth, and with a new finance team on board, the company looked to move to a cloud-native platform to provide scalability, mobile and remote user access, and the addition of multiple entities through acquisition and organic growth.

Looking far and wide, and finding a solution very close to home

After carefully evaluating some of the leading solutions available on the market, INX chose Sage Intacct as their new ERP solution. Reasons included a lower cost of implementation, more cost-effective additional modules and limited customisation required to get up and running.

Monthly reporting time halved

Month-end reporting was very time-consuming for the previous finance team at INX. A deadline of financial reports being delivered by (working) day five of the next month was often missed for a number of reasons. Consolidation of entities and a more integrated approach has improved reporting to the point that month-end reports are delivered no later than (working) day three of the next month, and often by (working) day two. Sage Intacct reporting functions have also helped deliver higher quality reports including budget comparisons and variance analysis, as well as detailed reports by product
and/or department.

“The choice of Sage Intacct for our new ERP solution ended up being very easy to make. It was simple for users to adapt from their experience with Sage 300 to the new interface, implementation time and cost was significantly less, and
we liked the easy and cost-effective addition of important modules projects, payroll and fixed assets.”

Lee-Anne McLean, Head of Finance at INX Software

 

Benefits seen across business functions

Along with improved month-end reporting processes, Sage Intacct has helped INX reduce payroll processing time by 70% (in conjunction with a third party payroll application). In addition, the automation of the accounts payable function has reduced processing time by 40%. Time is also being saved across the business as users in different departments and teams can access the cloud-native Sage Intacct system remotely and from mobile devices, improving access to real-time information when and where it is needed.

The perfect platform for a modern technology business

The move to Sage Intacct was part of a larger workplace modernisation strategy to prepare INX for a new growth period. Organic growth in the product portfolio, along with strategic acquisitions, requires a scalable business operations and financial management platform.

“As a business that provides software to help clients with workplace health, safety and sustainability, we wanted to modernise our own workplace, including moving to the cloud to reduce our hardware footprint and maintenance costs.” 

Lee-Anne McLean, Head of Finance at INX Software

The INX developer team utilised the open API offered by Sage Intacct to add modules and capabilities that helped satisfy the business requirements of INX, such as payroll and fixed asset management. Sage Intacct has helped INX reduce payroll processing time by 70%.

Elevating business outcomes and the stature of the finance team

With a new ERP system and a plan for business growth, the finance team at INX is enjoying elevated status within the business, operating at partner level alongside other critical business functions. Sage Intacct has provided new opportunities, capabilities and functionality for the finance team by automating finance functions, saving time, and providing timely and accurate reports to senior management and the Board.

“Sage Intacct has helped improve quality of reporting and allows us to quickly drill-down for variance analysis. It has elevated the role of the finance team while helping us save a lot of time every single month.”
Lee-Anne McLean Head of Finance, INX Software

Take the next step

Find out how the Sage Intacct cloud financial management solution streamlines operations.

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.

Image source: Photo by Scott Blake on Unsplash