“We’re hoping to grow our business tenfold in the years ahead. MYOB Acumatica has helped us to be much more nimble in our approach. It’s helping to support our forecasting and to give stronger incentive programmes to our team because everyone has real-time visibility into how we’re performing.” Michael Rom – Octet Finance
Industry
Financial Services – FinTech
Employees
51 – 200 staff
Background Overview
Octet provides highly specialised financial services to the SME sector, supplying businesses with much-needed working capital facilities. Octet’s technology platform enables it to originate and manage all its loans, so its clients can make purchases from suppliers anywhere in the world, in multiple currencies. The financial technology it o ers its clients helps to set it apart in the highly competitive business nance market.
The Problem
“Our existing account system produced high-level financial statement analysis, but we were unable to capture more detailed segmentation across our salesforce, products and customers.” Michael Rom, Octet Finance
- The high growth of the company put pressure on existing systems;
- Data analytics and performance management was challenging with no real-time visibility;
- Manual data entry and reconciliation was time-consuming;
- No detailed analytics and drill-down reporting functionalities.
Why MYOB Acumatica and Leverage Technologies
“We felt [Leverage Technologies] were equipped to be responsive to us and deliver what we were after. They were very patient and ticked all the boxes as to what we were looking for in a partner. They walked us through the whole process and their technical specialist got on very well with our team. Every time we threw a question at them, they had an answer. It’s a great engagement and we’re super happy.” Michael Rom, Octet Finance
- MYOB Acumatica works out of the box with minimal customisation;
- 100% Cloud-based ERP software;
- Multi-company and multi-currency supported;
- Real-time data analytics and reporting.
ERP software solution, MYOB Acumatica delivers best view for the finance sector
After implementing MYOB Acumatica with Leverage Technologies, Octet Finance can now rely on a flexible, Cloud-based ERP platform to streamline various business processes and grow smart.
The Outcome
With MYOB Acumatica, Octet now has real-time visibility across the business. The MYOB partner set up a metric-based dashboard for statistical journals, for a view of performance that delivers useful Business Intelligence.
- Real-time view company-wide;
- Consolidated systems;
- Automated processing and reconciliation;
- Less paperwork and manual data entry;
- Multi-dimensional analytics and reporting.
Frequently Asked Questions
What financial management challenges prompted Octet Finance to evaluate a new ERP system?
As Octet Finance expanded its working capital and Receivable Finance portfolio, managing millions of annual data points across multiple entities, regions, and currencies became increasingly complex. Their outsourced accounting setup and legacy systems created severe data consolidation bottlenecks, required laborious daily reconciliations, and lacked the granular reporting visibility needed for detailed customer and product analysis.
Why did Octet Finance select MYOB Acumatica over competing solutions like NetSuite and SAP?
Octet Finance found alternative solutions like NetSuite and SAP to be overly complicated and cumbersome for their specific needs. They chose MYOB Acumatica because it offered an out of the box, fully cloud hosted ERP platform that seamlessly supported their complex multi company and multi currency structures. Additionally, it delivered integrated modules for payroll, fixed assets, and project accounting at an attractive price point.
How did Leverage Technologies automate data flow between Octet’s proprietary platform and MYOB Acumatica?
Leverage Technologies eliminated Octet’s manual data entry by establishing an automated API integration between Octet’s proprietary management system and MYOB Acumatica. This automated pipeline extracts data directly from Octet’s system and imports it into the ERP without human intervention, saving substantial time and delivering a unified, real time view of every customer.
What reporting and business intelligence improvements did Octet Finance gain after implementation?
Leverage Technologies configured metric based dashboards and statistical journals within MYOB Acumatica, granting managers instant, self service access to real time performance metrics and drill down audit trails. With Multiple Dimension Reporting in the General Ledger, Octet can easily segment and analyse financial data by sales representative, region, product, or business unit.
How does MYOB Acumatica support long term growth for financial services and fintech firms?
MYOB Acumatica provides a scalable, paper free operational foundation that adapts quickly as transaction volumes increase. By offering complete real time visibility into performance, automated reconciliations, and robust forecasting capabilities, MYOB Acumatica equips high growth firms to expand their portfolios and pursue ambitious revenue targets with confidence.
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Recognised by the top ERP Partners in Australia
Leverage Technologies is an SAP Gold Partner, Sage Platinum Partner, and MYOB Acumatica Platinum Partner. Our award-winning team has earned national recognition for excellence in ERP and our commitment to customer success.
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