We helped Fitzroy’s gain visibility and Real-Time Reporting to their board in 3 months.

Fitzroy’s delivers on demand visibility to their board to make business decisions with Forpoint Solutions and Sage Intacct.

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Company:

Fitzroys is an innovative, multifaceted commercial property agency with a history of service and performance. Through our capacity to provide astute advice and consistently achieve high-quality outcomes, we have secured a respected position within the Australian property industry.

Industry:

Property Development

Company Size:

100+ Employees

Region:

Australia

Existing ERP:

Spreadsheets / Infor Sunsystems

Software Implemented:

SAGE INTACCT

ELMO EXPENSES

The Challenge:

Fitzroy’s former Financial Controller, Peter Gough, identified a critical need to modernise the company’s financial management processes. Their existing legacy system was not only outdated but also failed to provide the agility and insights required in a competitive business environment. To address these challenges, Peter set out to implement a Financial Management System (FMS) that would streamline operations, enhance real-time reporting, and improve overall business processes.

At the time, Fitzroy’s accounting operations relied on an on-premise solution that lacked the capability for real-time reporting. This limitation made it difficult to provide the board with up-to-date insights into the company’s performance. Whether tracking daily, weekly, or monthly metrics, the absence of real-time financial reporting created delays in decision-making and hindered the company’s ability to respond proactively to market conditions.

The transition to a new system posed challenges, including resistance from team members concerned about moving away from a familiar legacy system. However, the inefficiencies of the old solution were evident. Significant time and resources were spent managing and maintaining the on-premise system. Additionally, the reliance on multiple Excel files and manual processes further underscored the urgent need for a solution that offered real-time reporting and automation.

Implementing a modern Financial Management System enabled Fitzroy to overcome these obstacles. By prioritizing real-time reporting, the new solution provided immediate access to financial data, streamlined reporting processes, and empowered the team to focus on strategic tasks rather than time-consuming manual updates. This transformation not only improved operational efficiency but also delivered the actionable insights the board needed to make informed decisions swiftly.

Fitzroy’s journey highlights the power of embracing real-time reporting to drive financial agility and business growth.

The project goals were aimed at:

Having a Real-time information cloud system with the ability to drill down and make immediate changes
A Fully accessible portal for the board of directors
A finance team fully invested in the product
A system that meets all our requirements
Developing high-end board reporting and in general high-end reporting

Seamless Implementation: Unlocking Real-Time Reporting with Forpoint

Fitzroy’s implementation with Forpoint was a blend of in-office collaboration and remote support, designed to ensure a smooth and efficient process. Despite the inherent complexities of migrating to a new system, the experience was seamless for Fitzroy. The team was able to log issues as they arose, and Forpoint responded swiftly to address and resolve them, maintaining momentum and minimizing disruptions.

To ensure a flawless transition, the solution was developed and rigorously tested in controlled environments. This approach allowed Fitzroy to continue using their existing system without interference during the implementation phase. Once the new system was thoroughly tested, the team was trained and fully prepared for launch.

The transition to the new Financial Management System, complete with real-time reporting capabilities, was executed with precision. Going live was as simple as flipping a switch, resulting in minimal impact on business operations. Fitzroy quickly began reaping the benefits of the modern system, including streamlined workflows, enhanced insights, and the power of real-time reporting to drive smarter decision-making.

“A key win for me has been able to sit in a board meeting, bring up Sage Intacct,

present a profit and loss report, drill down within that report, and answer questions on sales results.”

Peter Gough – Financial Controller, Fitzroys

The Results

Quick Wins Achieved with Sage Intacct and Real-Time Reporting

Within the first three months of launching the Sage Intacct platform, Fitzroy’s reported multiple quick wins that significantly enhanced their financial operations and decision-making processes. One of the most impactful improvements was the introduction of real-time reporting, which allowed Peter Gough to deliver accurate and up-to-the-minute insights directly to board members during meetings.

With the new system, Peter could present real-time Profit and Loss (P&L) statements and detailed sales reports on demand. This capability extended to reporting on leasing fees and granular details about property management fees, enabling a level of financial transparency and precision previously unattainable.

Before the implementation of Sage Intacct, this information was scattered across multiple spreadsheets, requiring significant manual effort to consolidate and present. Board meetings often involved pulling up various reports on-screen to address specific queries, leading to delays and inefficiencies. With real-time reporting, these challenges were eliminated, enabling a more dynamic and productive discussion with the board.

Fitzroy’s adoption of Sage Intacct transformed their financial processes, making data-driven decision-making faster and more effective while enhancing confidence and clarity in reporting.

“I can run a report with a click of a button I can feel confident as a CFO, I have everything at my fingertips and can deliver on a platform that I wanted at board level.”

Peter Gough – Financial Controller

2 years on and new Financial Controller Scott Sutherland also finds that Sage Intacct has been a pivotal software for the company and coming from a SAP background, found that Sage Intacct was easier to use due to the dashboard feature.

The team at Fitzroys are continuously evolving their process with Forpoint solutions as their long term partnership and business evolves.