Many mid-sized Asian-based Financial Service (non-banking) businesses quickly outgrow their entry-level business accounting software and ERP software solutions. They find the general ledger capabilities too shallow and completely inadequate when dealing with multiple entities, consolidations and intra – and inter-entity accounting.
This fact is further compounded when the group grows to include entities in other countries, with different home currencies and financial years. As a solution to these business problems, CitySoft recommends and implements either Sage 300 or Sage X3 software solutions.
Sage 300 for Financial Services (non-Banking)
CitySoft specifies Sage 300 for SME sized Financial Services non-banking companies because of its general ledger capabilities. Sage 300 supports up to 10 layers (segments) in the Chart of Accounts (CoA), providing businesses with the ability to report across a wide range of facts in the business. Sage 300 supports the roll up of accounts for insightful reporting and analysis. Sage 300 has advanced reporting tools that make creating, running and distributing reports simple.
Sage 300 Intra-entity accounting
Many Asian-based companies in the Financial Services (non-banking) sector manage multiple entities. Sage 300 includes an option for intra-entity accounting, where multiple entities reside in a single database, yet the system manages quad accounting to ensure no entity can be out of balance.
Sage 300 Inter-entity accounting
Sage 300 also offers an inter-entity module for companies who operate multiple individual databases (entities) that transact with each other, or are consolidated into a parent (Group entity). Sage 300 software also provides a General Ledger Consolidation module to simplify group consolidations and reporting.
Sage Enterprise Intelligence
Some Financial Services (non-banking) companies only require group consolidated reporting, rather than the creation of a consolidated entity (database). Sage Intelligence and Sage Enterprise Intelligence Reporting tools enable this to take place with ease.
Sage X3 for Multi-Legislation Compliance, Multi-Country Coverage
Sage X3 is another World-class solution provided by CitySoft for the Financial Services (non-banking) sector. Sage X3 is designed to manage (in a single instance) enterprises with multiple entities operating across multiple countries, dealing with multiple legislation’s and multiple languages.
Delivered in a single database (Universe) Sage X3 provides system users a mid-market all in one ERP solution in a true Web environment. The system is ideally suited to firms operating multiple offices across multiple regions.
Sage X3 Web-native capabilities
Sage X3 is a Web-native, ‘best of breed’ mid-market ERP software solution, ideally suited to the Financial Services sector (non-banking) businesses that have complex accounting and reporting requirements, and may also operate multiple entities in multiple countries.
Sage X3’s Web-native technology removes the need for an additional thin client layer (such as Citrix or Microsoft Remote Desk Top Connection) to connect remote offices and users. This IT freedom supports rapid deployment and set up of new offices and staff.
Reduce operating costs
This deployment flexibility reduces your companies’ cost of system ownership and cuts implementation and upgrade costs. It also reduces the time to market, to set up and commission a new office or interstate or overseas workforce and provides remote users an enhanced user experience.
Tier 1 ERP software functionality for a fraction of the price
The depth and spread of functionality in the Sage X3 application compares favorably to many of the best Tier 1 ERP software systems.
Sage X3 provides a wealth of pre-configured functions, workflows, visual processes and role based dashboards and reports, all configurable to your specific company needs. Sage X3 is faster to deploy than many comparable ERP solutions and requires fewer consulting services.
The one feature that leaves other ERP solutions in its wake
The Sage X3 ‘single universe,’ multiple legislation framework is the ideal solution for companies with multiple offices across multiple countries.
This fundamental difference between Sage X3 and most other mid-market ERP solutions ensures you have access to simplified reporting for multiple companies, operating across multiple borders as the inter- company, multi-site and consolidation requirements of your group are all accommodated using the standard features of the Sage X3 system.
A 3rd reporting currency provides exceptional flexibility for groups operating multiple entities in multiple legislations.
Sage X3 will help you improve productivity
With Sage X3 administrative capabilities, it is simple to limit user access to sites, legal entities and transaction types removing system distractions and helping focus staff on key activities.
The statistical and dimensional accounting capability of Sage X3 support a simplified Chart of Accounts (CoA) and aids in optimised management reporting and analysis. With role-based workflows, dashboards and visual processes, new staff induction times can be cut. Customisable on-screen ‘HELP’, favourites, short cuts and electronic approvals allow your staff to work faster and more accurately.
Sage X3 document management capabilities
Sage X3 document and file management streamline administrative functions. Sage X3’s deep integration with Microsoft productivity tools helps drive more informed decision-making.
Sage connectors also allow Sage X3 connectivity with industry specific non-Sage applications to ensure companies benefit from a unified, end-to-end business system.