Sydney, 25 August 2011 – Sage, a leading global supplier of business management software solutions to over 6.0 million small and medium sized enterprises (SMEs) worldwide, has announced that Netwealth Investments Limited, an Australian provider of online financial services, has commenced deployment of the Sage ERP Accpac (Sage 300) and Sage MicrOpay’s payroll software solutions.
The combination of Sage 300 and Sage MicrOpay Meridian will help Netwealth to standardise on one vendors software as well as integrating and enhancing workflow collaboration. The inclusion of Sage MicrOpay will support a more integrated budgeting and business planning process at Netwealth.
“We previously performed our accounting and payroll calculations based on the combination of Excel and MYOB Account Right Plus but as our business grew, the process for collating monthly reports became too cumbersome & very time consuming,” says Michael Heine, Managing Director of Netwealth.
The decision by Netwealth to choose Sage ERP 300 followed an extensive tender evaluation and selection process during which time the company reviewed solutions from other leading providers. Sage and CitySoft were able to provide the product scalability and robust reporting, along with the essential implementation services required to ensure the investment provides Netwealth with long term business value.
Sage 300 will be used to consolidate and enhance the company’s monthly financial management reporting function, providing a timely, single view of data drawn from the company’s business software applications, including KPI reports, cash flow reports, and financial reports (Balance sheets, profit and loss statements, budgets to actuals….)
At the same time, Sage MicrOpay Meridian will provide Netwealth with the tools to more accurately and quickly process pays including the management of leave and entitlements, superannuation, payslip distribution, reporting and HR matters. Sage MicrOpay interfaces to Sage ERP 300 to reduce the administrative effort required to reflect accruals and payroll data in a companies general ledger.
In addition, Netwealth will take advantage of MicrOpay’s Employee Self Service Portal, an employee self service system that enables staff to change, update, and review their personal details, make leave applications and view payroll information online or through an intranet.
Sage MicrOpay Meridian has been specifically designed for Australian conditions and legislative requirements. It delivers simple-to-use, powerful online search and query facilities and can export data in a number of formats. Netwealth will be able to drill down into their data and review, for example, average salaries for each of its offices or business units and generate performance indicators for each working group.
“We’ve started deploying both solutions and are in the process of importing data and performing parallel reporting. We’ll now be able to use payroll data in a more strategic away to help diagnose trends and plan future investment,” says Heine.
Tasked with the Sage 300 implementation is Sage partner, Citysoft Consulting Group, who will also provide ongoing support post project sign off.
“While Sage is widely used by mid-market companies, their partner, CitySoft Consulting also came highly recommended. Their presentation addressed what we needed and they spoke to our requirements, including the need for a potential upgrade path in the future.
“Once deployment is complete, Sage will ensure that we can deliver timely monthly balances, company transactions and payroll. Ultimately, it provides us with a fresh start to a new way of reporting our accounts. While we will be using the ERP system for reporting on the operational and transactional aspects of our business, Sage MicrOpay Meridian will enable us to reap the benefits of an automated payroll solution for our 130 strong headcount.
“We know that we’re working with a vendor and their partner who have a strong customer orientation which is nothing short of extraordinary. We look forward to the very positive impact their solutions will have on our business,” says Heine.