Acumatica Case Studies Software developer picks Acumatica SaaS to run global operations

Edit This Case Study Record

	Software developer picks Acumatica SaaS to run global operations Acumatica

Software developer picks Acumatica SaaS to run global operations

Acumatica

Technology Category	Infrastructure as a Service (IaaS) - Cloud Computing
Applicable Industries	Finance & Insurance Software
Applicable Functions	Business Operation
Services	Cloud Planning, Design & Implementation Services
Challenge	smartTrade Technologies, a software company that develops solutions for investment banks, exchanges, and large hedge funds, was facing rapid growth across multiple markets and multiple currencies. The company needed an advanced financial management infrastructure that could quickly consolidate and make accessible the various accounting formats and requirements from each of its subsidiaries. They also needed a system that could easily visualize the cash flow of the group by up to a month. Prior to its decision to implement an ERP solution, smartTrade Technologies outsourced the accounting in each of its subsidiaries to local accountants. Once the monthly accounts in each subsidiary were completed, they were consolidated in Paris. This process imposed a certain delay to produce the monthly reporting. Read More
About Customer	smartTrade Technologies is an independent software vendor that develops solutions for investment banks, exchanges, and large hedge funds to streamline their order execution process across multiple asset classes. The company was founded in 1999 by former IT and trading professionals from Citigroup, Crédit Agricole, and Société Générale. The technology developed by smartTrade Technologies optimizes the trading process for over-the-counter securities and streamlines the way firms manage execution services. The company is headquartered in Aix en Provence, France, and has subsidiaries located in Paris, New York City, London, and Tokyo. Read More
Solution	smartTrade Technologies considered building an in-house financial solution that would support multiple entity and currency scenarios. However, they decided to concentrate their resources on their core business and benefit from current best practices. Therefore, they decided to research existing commercial solutions, giving preference to a SaaS model that required no internal resources for maintenance. After examining several ERP software solutions on the market, they chose Acumatica. Acumatica was selected for its advanced features, robust Cloud platform, customizability, cost-competitiveness, and bilingual capabilities. Acumatica also stood out for being willing to listen and meet the specific needs of smartTrade Technologies, such as the ability to predict a multi-entity, multi-currency organization’s cash flow by up to a month. Read More Log in to view content
Contents

Technology Category

Infrastructure as a Service (IaaS) - Cloud Computing

Applicable Industries

Finance & Insurance

Software

Applicable Functions

Business Operation

Services

Cloud Planning, Design & Implementation Services

Challenge

smartTrade Technologies, a software company that develops solutions for investment banks, exchanges, and large hedge funds, was facing rapid growth across multiple markets and multiple currencies. The company needed an advanced financial management infrastructure that could quickly consolidate and make accessible the various accounting formats and requirements from each of its subsidiaries. They also needed a system that could easily visualize the cash flow of the group by up to a month. Prior to its decision to implement an ERP solution, smartTrade Technologies outsourced the accounting in each of its subsidiaries to local accountants. Once the monthly accounts in each subsidiary were completed, they were consolidated in Paris. This process imposed a certain delay to produce the monthly reporting.

About Customer

smartTrade Technologies is an independent software vendor that develops solutions for investment banks, exchanges, and large hedge funds to streamline their order execution process across multiple asset classes. The company was founded in 1999 by former IT and trading professionals from Citigroup, Crédit Agricole, and Société Générale. The technology developed by smartTrade Technologies optimizes the trading process for over-the-counter securities and streamlines the way firms manage execution services. The company is headquartered in Aix en Provence, France, and has subsidiaries located in Paris, New York City, London, and Tokyo.

Solution

smartTrade Technologies considered building an in-house financial solution that would support multiple entity and currency scenarios. However, they decided to concentrate their resources on their core business and benefit from current best practices. Therefore, they decided to research existing commercial solutions, giving preference to a SaaS model that required no internal resources for maintenance. After examining several ERP software solutions on the market, they chose Acumatica. Acumatica was selected for its advanced features, robust Cloud platform, customizability, cost-competitiveness, and bilingual capabilities. Acumatica also stood out for being willing to listen and meet the specific needs of smartTrade Technologies, such as the ability to predict a multi-entity, multi-currency organization’s cash flow by up to a month.

Impact #1	Consolidated cash flows across worldwide subsidiaries with different currencies and charts of accounts
Impact #2	Implemented a robust and automated process to translate financial statements
Impact #3	Positioned the company for growth by providing a scalable ERP solution that is accessible by all stakeholders

Impact #1

Consolidated cash flows across worldwide subsidiaries with different currencies and charts of accounts

Impact #2

Implemented a robust and automated process to translate financial statements

Impact #3

Positioned the company for growth by providing a scalable ERP solution that is accessible by all stakeholders

Download PDF Version

Overview

Software developer picks Acumatica SaaS to run global operations

Operational Impact