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The Finance and Administration team at Infocus Wealth Management used to be very limited in what it could do simultaneously. Infocus consists of six companies that cover a significant amount of transactions, but the previous accounting package wouldn’t let multiple staff access different companies at the same time. “We could only have one company open at the time, which was unsustainable,” says Simon Richards, Group Finance & Administration Manager at Infocus.
The team also spent several days a month re-keying data, as there was no link between the accounting software and Microsoft Excel. The financial services company needed to streamline its accounting processes, reduce time spent on data entry and increase visibility into costs, says Simon.
With its flexible structure, Excel integration and highly customisable reporting, Greentree has helped the company achieve those goals.
“Greentree has removed a lot of barriers; we can now have multiple companies open at the same time,” he says.
Simon also values the flexibility of the system. “With Greentree, you are able to start with the bare bones and then set the system up the way you want it – that is a big advantage to us.”
The ability to upload data from Excel helps save around half a day per week for Infocus. The organisation uses an external software program to pay its 75 offices around Australia. “The weekly brokerage run used to take half a day every week using Quickbooks,” says Simon. “It now takes five minutes per week and it’s correct, whereas we had no chance of knowing that before.”
Reducing the time spent on this process from four hours to five minutes translates to approximately a 98% productivity gain for that particular task – every week.
Overall, implementing the Greentree modules has led to a reduction in time and cost, he says. The time saved can now be spent on more productive tasks, such as internal controls.
Greentree gives Simon peace of mind at the end of the month. “We don’t have to worry that things haven’t been done properly,” he says. “At the end of the month I’m a lot more confident about our reporting and our costs. I don’t have to spend hours going through numbers to make sure everything is correct.”
> Greentree International
Graham Hill
P: 0800 313 313
F: 09 366 3889
E: graham.hill@greentree.com
W: www.greentree.com
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At A Glance |
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Customer
> Infocus Wealth
Industry
> Professional Services
Location
> Australia
Greentree Product Suite
• Financial Management
• Global Finance
• Distribution
• Workflow
• Job Costing
• Workflow
• eReporting
• HR Management
• Payroll
Business Benefits
> Data entry time cut from four hours to 5 minutes, resulting in a 98% productivity gain.
> Complete integration with the Greentree accounting package and Excel has eliminated the need to re-key data, reducing human error.
> With fully customisable reporting, full visibilty of costs can now be achieved, ensuring greater control and management of costs.
PROBLEM
> Infocus Wealth Management needed to streamline its accounting processes and reduce time spent on data entry. The previous accounting package was unable to let multiple staff access different companies at the same time.
Running weekly payment reports to Infocus’ 75 offices across Australia used to take half a day every week.
SOLUTION
> A fully integrated modular solution from Greentree drives efficiency at Infocus.
The financial team can now access multiple companies at the same time and integration with Excel means that data entry time has been reduced from days to minutes.
OUTCOME
> Greentree helps bring data entry time down from half a day every week to five minutes – effectively a 98% productivity gain for the financial team. The time saved can be spent on more productive tasks, such as internal controls. |
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Further Reading
Visit the Greentree exhibit in the CRM Pavilion
Visit the Greentree exhibit in the ERP Pavilion
Visit the CRM Research Pavilion
Visit the ERP Research Pavilion
Visit the BPM Research Pavilion |
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