Discovery, one of South Africa’s leading financial services organisations, is set to implement Sage ERP X3, by Softline Accpac.
John Robertson, Chief Information Officer, Discovery, says that based on clear, pre-defined business objectives, it was determined that the functionalities of Sage ERP X3 would serve the company well in meeting these objectives.
“Integrated, multi-company, multi-currency processing and strong procurement functionality were prerequisites in our search for the right solution. It is our view that Sage ERP X3 will enhance integration with our current systems, improve efficiency, improve financial auditing and security reporting, and reduce costs. In addition, it is a Web- enabled solution, which means we can access it remotely. What is also important is that the solution is fully complemented and supported by continued external consultant support and extensive training.”
Discovery’s continued and rapid growth, and integrated approach, which draws together its different product offerings across Discovery Health, Discovery Life, Discovery Vitality and Discovery Invest, increasingly requires sophisticated functionality and flexible, integrated financial software solutions.
Sage ERP X3 is a reputable and stable tier-two ERP solution that offers multiple company access from within a single repository, explains Keith Fenner, Sales Director, Softline Accpac.
“With Discovery’s vast range of companies, it is important that financial accountants have a single access point to transact with various companies at the same time. Sage ERP X3 offers this flexibility as well as the auto generation of inter-company transactions.”
The ability to accurately see, trace and audit transactions are important factors for Discovery. Sage ERP X3 offers complete tracing of transactions from the source to when the transaction is posted on the real-time general ledger. The automated statistics tool will prove useful in keeping track of vendor- related transactions, including BEE status, for tracking supplier reliability, quality and lead times.
Discovery also requires a fully integrated procurement management and control system. This system needs to be automatically updated with electronic procurement processes and authorisations. In terms of procurement, commitments must be visible and traceable. Committed spend is tracked in X3 and the user will have insight into this as part of the procurement workflow process. Specific views will show committed spend per expense account and Discovery will also be able to track this on BI reporting.
Further to this, Sage ERP X3 offers a complete cash management solution with proper payment authorisation processes and bank reconciliations, with seamless integration to Internet banking.
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