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EAC goes live with PS Financials

14th Sep 2005
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EAC, an independent Private Equity Fund Manager, with total assets under management of around '400 million, has invested in accounting and business management software from PS Financials. The new system will create time and cost savings across the organisation, and will give the company better visibility of reporting information and overall business performance.

Diane Walker, Financial Controller at EAC, says, 'We are expecting to see phenomenal time savings due to the flexible nature of PS Financials and the way we are able to hold our data, making processes much smoother in relation to both our Fund and internal management accounts.

Walker continues, 'PS Financials' User Defined Input (UDI) screens will help us to better allocate tasks and areas of responsibility to staff based on their experience levels. In addition, we were impressed with the software's ease of use and drill-down functionality which means we can interrogate data in much more detail than before.'

PS Financials will also help to automate core processes within the finance function. For example, previously all multi-currency transactions had to be converted and analysed manually by staff, whereas now this is handled as part of the core functionality of the PS Financials system.

Walker says, 'As a multi-currency and multi-layered organisation we have some complex financial accounting requirements. Yet previously we had been using a very basic and inflexible general ledger system, and key accounting data was held, through necessity, within Microsoft Word and Excel spreadsheets. By implementing PS Financials we now have a very scaleable, sophisticated accounting infrastructure that can provide us with budgeting, forecasting and management reporting information to help us manage the business more effectively.'

Commenting on the working relationship with PS Financials, Walker says, 'We were very impressed with PS Financials throughout the sales and implementation process. Their consultants have demonstrated a real understanding of our business and we have found them to be very pro-active in the way they have managed the project from day one.'

EAC is owned and controlled by its directors. Based in London, EAC has a strong network of contacts in France and is a well established and respected player in the European buy-in, buy-out and development capital sectors.

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