As Asavie, a booming IoT connectivity provider, began developing further revenue streams and working in multiple currencies, its accounting needs became more complex. They outgrew Sage and moved to AccountsIQ, as it could offer them scalability and met their sophisticated accounting requirements at an affordable price.
Asavie is an Internet of Things connectivity business providing highly-secure middleware which enables the growing numbers of IoD devices in use to connect with the Cloud. At this time, the opportunity in the telecoms sector alone fuelled a year-on-year growth rate which, at its peak, consistently topped 100%.
Having outgrown an early iteration of Sage, Asavie’s accounts team led the way in finding a new business system which would tick boxes on consolidation; currency handling; Fixed Assets and workflow. Financial Controller Emma Whelan began the search which included more recent versions of Sage and FinancialForce. Describing her reaction to proposals from both vendors Emma said,
Neither product was comparable to AccountsIQ from a performance or price perspective. We didn’t need the likes of SAP or Oracle but we have some fairly complex accounting needs. AccountsIQ fits us perfectly.”
A “Successful and Collaborative” Relationship
In 2016, Emma began to work with the support team at AccountsIQ to plan the implementation which addressed needs in the short, medium and longer term. This plan still evolves today and is proactively evaluated by AccountsIQ’s Customer Success team on a regular basis as the software is continuously tuned to meet changing needs. She says,
The best thing about AccountsIQ is the successful and collaborative relationship we have with the support team; we have completed a number of projects with them and they never seem to tire of listening to us and working with us to adapt the software for our own and for every other user’s benefit. It almost feels like we are all part of the same development team.”
She adds, “Having qualified accountants at the end of AccountsIQ’s support line is priceless; they instantly understand the accounting problems we are trying to solve and this allows us to arrive at a technical solution quickly.”
Improving functionality across the business
Other projects on which Emma has worked closely with the support team have included an integration with Concur’s automated expense management and processing system; and the introduction of AccountsIQ’s Purchase Order Approval which uses workflow technology to enable more efficient processes, engaging budget holders across the business. Future plans include integrating AccountsIQ with the business’s preferred BI reporting app which will create a seamless data exchange between the accounts and the management reporting pack in a format which is already familiar to the business. Summing up, Emma says,
AccountsIQ solves so many problems for businesses like ours; it can be configured to tackle quite complex accounting issues but without the overheads and ongoing costs associated with some of the vendors at the higher end of the market.”
Read how Salamanca Group‘s Finance Director, Lee Camp consolidates 80 entities in just a few minutes with AccountsIQ.