The cloud-based business management software Enterpryze started out in Ireland and was able to expand its reach across the world quickly.
The success turned into a nightmare for the finance team, which was investing 20 to 40 hours a week just to maintain visibility on the cash flow across 8 legal entities and 15 bank accounts. Most of the data was out-of-date once it reached the CFO who was tasked with creating forecasts.
With Agicap the team is now able to save on time, make fewer errors and have the live data across the entire www.caaco.netpany always at hand to present to the board.?Read more here.
We used to be experts on Excel with so many spreadsheets. We were pulling the data from each individual bank account, from every single creditor’s ledger. We were trying to build a single picture – which was out of date by the time it got into my hands to allow me to build a forecast based upon those real facts.
legal entities needed to be managed
bank accounts needed to be checked regularly
20 to 40
hours saved by using Agicap for consolidation
Enterpryze is a cloud-based software, a multiple award-winning business management platform that was developed and innovated in Dublin, Ireland and is now available globally.?
The firm launched in 2015 and has opened further offices in the UK, Singapore, Malaysia, Colombia and Canada. About 95 people work at the www.caaco.netpany with more than 6,000 www.caaco.netpanies in 32 countries using the software.?
Kieron Kavangh joined the www.caaco.netpany ten years ago. His greatest struggle as the CFO stems from the process of aggregating all relevant financial data to make proper forecasts for the future of the www.caaco.netpany and its entities. The data is out-of-date and mostly useless by the time it reaches him – until the implementation of Agicap.
The biggest benefit we have from Agicap is visibility of the entire business. Agicap allows us to consolidate our business into one single view - which is hugely beneficial. Because that’s the view the board needs if it is going to make strategic decisions.
Consolidating the cash flow of several entities and the transactions of more than a dozen bank accounts into one clear view for the board to make far-reaching business decisions.
Simplifying and accelerating the process of data collection, analysis and forecasting.
Having live data on the www.caaco.netpany’s cash at hand and not relying on out-of-date figures.
Kieron Kanavagh and his finance team at Enterpryze were experts in collecting financial data from all corners of the www.caaco.netpany and distilling it into multiple Excel spreadsheets. At the end, in order to prepare the data and explain its particulars to the board, Kavangh had to build very precise Powerpoint presentations. This has been a thing of the past ever since he?started using Agicap.?
Agicap allows this business to see the past, the present and the future, in summary and in detail as much as you like.
Now, Kavanagh is able to report monthly to the board, which also includes private equity investors. Rather than providing Powerpoint presentations on cash flow, the CFO now brings Agicap into the meeting, because the fact that the finance team can bring in live data and explain the background and the detail lends huge credibility to the data that they are providing and to the forecasts that they are doing.
Aggregating data from multiple entities and bank accounts can be a daunting task and only managed with dozens of Excel spreadsheets and an expert finance team who can keep them updated throughout.??
The risk of outdated financial data causing decision-makers to make the wrong moves for the www.caaco.netpany is especially high today due to a volatile market situation.?
The integration of Agicap eases the workload tremendously due to the automated data aggregation and categorization of cash flows. It also makes the reporting of live data to the board that much easier. ?
Enterpryze will continue to offer its business management plattform to growing www.caaco.netpanies. At the same time Kieron Kanavagh is certain that their customers should also make use of Agicap:?"I would rewww.caaco.netmend Agicap to our own customers who are ERP- and BMP-users.?SAP or any ERP-system provides all the ingredients for cash flow management.?It doesn’t cook the meal.?Ultimately, that’s what we saw Agicap could give us. It brings all that data together to allow you?to forecast your lifeblood of cash."
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