Managing investments better with ERP power

Published on the 08/09/2016 | Written by Oxygen

Evans and partners
icon_case study

AT A GLANCE

INDUSTRY

  • Financial Services

BUSINESS OBJECTIVE

  • Replace MYOB accounting system
  • Improve accounting transaction capacity
  • Capture more granular business information for improved management reporting
  • Integrate SAP Business One with three other line of business systems

SOLUTION

  • Implement SAP Business One for transactional accounting
  • Integrate SAP Business One with client management, reporting and expense management software
  • Implement SAP Fixed Assets to reduce duplication of effort around acquisitions and improve budgeting accuracy

BUSINESS BENEFITS

  • Business growth without increasing finance team head count
  • Seamless integration between line of business systems
  • More effective and timely production of management reports
  • Better capability to cope with increased business complexity
  • Richer data capture enables more effective business query processing

FOR MORE INFORMATION

OXYGEN
W: www.uxcoxygen.com
Australia
E: info@uxcoxygen.com
T: 1800 002 354

New Zealand
E: info@uxcoxygen.com
T: 0800 008 606

Looking for a platform for growth and better decision-making, Australian investment house Evans & Partners turned to SAP’s Business One…

With an on-time and on-budget implementation by Oxygen, the independently-owned company today enjoys smooth operations and information visibility with the headroom to take on the future with confidence.

Located in Sydney and Melbourne, Evans & Partners aims to provide a person-to-person, highly-attentive stock-broking service for all Australians. The company is built around smart, articulate and pro-active people servicing clients with ideas to create wealth, backed by the advice, initiative and experience provided by experienced market practitioners.

Situation
Prior to implementing SAP Business One, the company was using MYOB for transactional recording and a number of large spreadsheets for management reporting, explains Evans & Partners Finance Manager, Jim Biemond. “That was fine for two dimensional enquiries, but for more granular reporting, it was too cumbersome and time-consuming to produce effectively in a spreadsheet environment.”

Biemond says the business wanted a greater level of detail around its product and service offerings and wanted to see performance split by division and by state. “We also needed more detail about the revenues and related costs each of our advisors were generating.”

To solve this problem Evans & Partners engaged an independent consultant to run an RFP process to choose a new business management system. After a rigorous assessment of a number of products the firm selected SAP Business One and Oxygen as its system integration partner.

Solution
“One of the advantages of the SAP Business One software – and one of the key reasons we selected it – was its ability to be configured out of the box, without a lot of time-consuming development. We were careful to define the scope of what we wanted to achieve and that paid off down the track.”

“One of the advantages of the SAP Business One software – and one of the key reasons we selected it – was its ability to be configured out of the box, without a lot of time-consuming development.”
Jim Biemond Finance Manager Evans & Partners

Biemond says the implementation was a complex, multi-vendor exercise. “We partnered with three other providers, one for expense management, another for client management and another for report formatting. The SAP system had to talk to all three as there was significant data transfer needed to produce the management reporting we desired.

“SAP was the centre piece of the solution. Oxygen worked well with us and the other vendors, ensuring that the system design and implementation was coordinated effectively. The integration points work well and the system has proven relatively easy to maintain.”

He singles out the team at Oxygen, which he describes as responsive to the company’s requirements. “They were able to leverage their knowledge of SAP to develop solutions to address our business process challenges. Oxygen dealt with everyone in a pragmatic and professional manner contributing to the success of the multi-vendor project.”

Results
The full service investment advisory firm has run SAP’s integrated business management software since April 2015 and Biemond says the system is saving processing time and providing a richer level of detail for management reporting.

But the most obvious benefit of the system is the amount of time saved producing basic reports. “We no longer have to do any manual rekeying or data manipulation. Thanks to the business automation features of the software, manually refreshing Excel reports month by month is a thing of the past.”

Thanks to the new SAP software, the firm has also been able to absorb an increase in business complexity and transaction volume without increasing its staff numbers.

Capturing data at a more granular level has been another positive, Biemond says. “The service our finance team provides back to the business is more responsive. We can now answer ad-hoc management queries about different products and services in a timely way, and we can provide a greater breadth and depth of information.

“For example, if management wants to focus on training and development, we can now quickly pull up exactly how much has been spent on that area of the business. We can provide total spend and spend by employee, without having to manually go back and rediscover who attended a particular training session. All that information and cost apportionment is now captured when the expense is incurred.”

Thanks to this type of improved data capture, Evans & Partners is gaining better visibility into various aspects of the business, says Biemond. “The time it takes to serve up the data in an intelligent way has been reduced and is less error prone. Armed with this information the management team can make more informed decisions about strategic initiatives and general business performance.”

FURTHER READING


About This Vendor


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