The American Chamber of Commerce Ireland started to look for a new accounting system on 2016. The organisation chose AccountsIQ because of its ease to use, transparency and high quality reporting.
Anne Somerville is the Financial Controller & Company Secretary at American Chamber of Commerce Ireland, a not for profit organisation that represents both US companies in Ireland and Irish companies in the US. Last year, Anne started looking for new software to replace their TAS system, now part of Sage.
The challenge
The old system was old and difficult to use. Extracting the data and getting the reporting was cumbersome and time consuming, even with small transaction volumes. The team would spend a lot of time downloading data into Excel and trying to extract information in the right format.
The organisation started looking for an accounting system that was easy to use, intuitive and efficient. The team sometimes works remotely, so they also preferred a cloud solution.
The solution
After evaluating four different products, AccountsIQ was selected because of its simple and intuitive way of working. AccountsIQ was ready to use just four months after they started looking for a new accounting system, so it was not necessary to wait until the completion of the year-end reporting before implementing it. The organisation started to use AccountsIQ for the new financial year starting January 1st, six months ahead of their expectations.
Key benefits
After implementing the new system, Anne has found month end reporting a vast improvement: “AccountsIQ is really excellent,” she said. “It’s intuitive, simple to use and the implementation was outstanding. Now we have complete transparency and visibility of our financials. We can easily drill down to individual transactions and even down to items on an individual invoice without having to pull out any invoices or back-ups.”
AccountsIQ’s team helped design and create a set of customised reports for the organisation: “It’s very simple now to extract the information we need. It’s a vast improvement on what we had before and I can see the long-term benefits of the system being invaluable for our organisation.” Moreover, the new system has integrated with their bank, enabling them to manage payments and receipts online and complete reconciliations seamlessly.
The organisation is now looking at implementing the AccountsIQ Approval Workflow module to automate the approval of orders and invoices.
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