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Streamlining reporting and compliance with ERP

Find out how this employment services provider managed to streamline their operations to make financial reporting easy and compliance more seamless. 

Before Wiise

Manual processes and no control over orders

Separate systems for sales and accounting

Unable to track the financial health of the organisation easily

No approvals for payments; missing purchase orders

Unable to meet the board and government reporting requirements

With Wiise

Granular detail and improved efficiency 

The ability to run P&Ls at any time and easily see financial position

Visibility over transactions across more than 180 cost centres

Ability to meet government compliance and requirements

Significant time savings across reporting, admin processes and operations

Separate systems, manual processes and lack of control

Given they had more than 180 cost centres, managing sales and accounting in separate systems caused a range of challenges for the now more than 400-strong organisation.

Without the ability to organise their financial data or drill down into the detail, basic processes such as running financial reports would often take days and there was an overall lack of control around managing purchase orders and spending, which opened the business up to compliance risks.

Separately, the management also needed a way to engage their client base more effectively and sought out a solution with built-in analytics and business intelligence. 

Woman with clipboard smiling

Investing in tools to sustain their organisational growth 

  • Being able to manage their finances and purchase orders in the same system has allowed the management to get a clear view of the organisation's performance.
  • Using dimensional tagging, finance and operations teams can easily tag and track the activity from across their 180+ cost centres.
  • With built-in analytics, teams are able to able to report back to management in real-time helping them make more timely decisions.
  • Checks and balances such as workflow approvals allows the organisation to monitor expenses and stay on top of cashflow while ensuring complete audit trails.
Close up of a man's hands as he's talking

Key results with Wiise 

Operational efficiency

With greater visibility over transactions, staff have gone from spending 10-15 days on financial reports to being able to provide the management live updates of their financial position. In turn this allows management teams to make decisions faster and be confident in them. 

Greater compliance

From a governance perspective, Wiise has allowed the organisation to put control mechanisms in place giving the management confidence that their purchasing system works accurately and in-line with internal policies.

Focus on growth

With an intelligent ERP system helping them pay suppliers on time, tag and track their transactions, and stay on top of finances, CVGT can continue to focus on meeting their strategic objectives and sustain the transformation and growth that they're driving across
the company.

“The old accounting system would've needed
double the hands on deck to facilitate the finance, given how much we've grown.”

Matt Frecker, CFO at CVGT 

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