Medway Development Company Ltd Case Study
Improved Control, Visibility and Strategic Focus with Intacct; Medway Development Company Ltd
As Medway Development Company Ltd grew, it became clear they needed to switch their financial management from outsourcing to in-house, in order to gain greater financial visibility and control, and support strategic development.
See how implementing Sage Intacct with Acuity24 helped them achieve their goals, and why they described the process as “positive and fun” in the Case Study:
The Challenge
Outsourcing their financial management was proving a challenge for Medway Development Company Ltd, who deliver high quality residential housing, as part of Medway Council’s ambitious regeneration plans.
Financial visibility and control became of greater importance, yet increasingly difficult as the business grew.
Medway’s board decided bringing finances in-house was essential, with key objectives including:
- To establish effective internal financial controls.
- Improved visibility of financial results for internal and external stakeholders.
- The ability to enhance timely, data-led decision-making, to aid strategy formulation and monitoring.
The Solution
Medway evaluated several financial management solutions, with cloud-based Sage Intacct leading the pack.
Finance Director, Jedene Arnold FCCA, stated:
“Sage Intacct stood out due to its robust functionality with the ability to quickly navigate across multi entities, ease of implementation, and ability to provide real-time insights and reporting.”
On Medway’s reasons for selecting us as their Sage Intacct Partner, they highlighted:
“Acuity24 was chosen as the Intacct partner because of their expertise in implementing Sage Intacct, their strong track record of successful projects, and their ability to provide tailored solutions, for example the provision of a CIS module and a tailored approval workflow.”
The Transition
Describing the implementation process as “positive and fun, with effective communication” MDC Ltd noted the transition to Sage Intacct was smooth, with the Acuity24 team promptly handling any challenges that arose and providing “excellent support throughout the process.”
The Result
Since their successful Sage Intacct implementation, Medway have achieved several benefits so far, including:
- The ability to provide real-time, accurate numbers to key stakeholders.
- Tangible time savings and improved efficiency through automation.
But the biggest benefit so far has been a more improved focus on strategy.
In summary, MDC Ltd shared “These benefits have positively impacted both the business and its users, who are now empowered to make more accurate, data-led decisions.”
Find Out More:
Interested in learning more about Sage Intacct for your business?
Get in touch to find out more:
Explore our Resources including video tutorials, guides and more on Intacct’s features: Visit Resources Page
VIEW CASE STUDY
Why do organisations bring finance functions in-house?
To gain greater control, improve financial visibility, and support more strategic decision-making as the organisation grows.
How can property or development companies improve financial control?
By implementing systems that provide real-time reporting, approval workflows, and structured financial processes.
What is the benefit of real-time reporting with Sage Intacct?
Sage Intacct enables stakeholders to access accurate, up-to-date financial data instantly, improving decision-making and transparency.
How does Sage Intacct support strategic financial planning?
It automates reporting and provides detailed insights, allowing finance teams to focus on forecasting and long-term planning.
Is Sage Intacct suitable for public sector or government-linked organisations?
Yes, Sage Intacct supports strong governance, reporting, and audit capabilities, making it suitable for organisations requiring transparency and control.
What does a Sage Intacct implementation involve?
It includes system configuration, data migration, workflow setup, training, and go-live support.
FAQ’s
What is professional services automation software?
Professional services automation software, also known as PSA software, is a solution designed to help service-based organisations manage projects, resources, time tracking, billing and financial reporting from a single platform. It streamlines operations and provides greater visibility into project performance and profitability.
What is PSA software and how does it work?
PSA software stands for Professional Services Automation software. It works by automating key business processes such as project management, resource allocation, timesheet tracking and invoicing. By bringing these workflows together, PSA software helps professional services firms improve operational efficiency and financial control.
What are the benefits of using PSA software for professional services firms?
There are many benefits of using PSA software. It helps firms manage resources more effectively, improve project delivery times and ensure accurate client billing. It also provides real time financial insights and improves decision making. By integrating with accounting and CRM systems, PSA software helps eliminate manual processes and reduces errors.
What is the best professional services automation software for growing firms?
Sage Intacct, delivered by Acuity24, is considered one of the best professional services automation software solutions for growing firms in consulting, IT services and other professional sectors. It offers advanced project accounting, time tracking, billing automation and real time financial reporting, all within a true cloud environment.
Is PSA software suitable for IT companies?
Yes. PSA software for IT companies is specifically designed to handle project-based billing, resource management and service delivery tracking. Sage Intacct helps IT service providers manage multiple projects, track billable hours and automate invoicing, making it an ideal solution for technology firms.
How does professional services automation software improve billing and revenue recognition?
PSA software helps automate billing schedules, track time and expenses accurately and manage different revenue recognition methods. This ensures that professional services firms invoice clients promptly and recognise revenue in line with accounting standards, reducing the risk of errors and improving cash flow.
I want to speak to a person, how do I call?
At Acuity24, we’re always just the other end of the phone. Should you at any point want to speak to a human, our phone number is 01932 237110. Otherwise, simply book a meeting and we will contact you.
Contact Us Today
More Case Studies
Cancer Research Wales Case Study
Lowmoor Nursing Home Case Study
