Case Study Overview
Industry: Professional Services
Location: Australia
Product: MYOB Acumatica(formerly MYOB Advanced)
Services: MYOB Acumatica(formerly MYOB Advanced) consulting, implementation and ongoing support
Overview: Nextt Group provides support for people with mental and physical disabilities in states along the east coast of Australia, through a staff of 2,500 professionals.
THE PROBLEM
Growing complexity of multi-company structure
Nextt has experienced major growth in demand for its support and care services since its inception in 2003. Its revenue comes from a mixture of funding sources, including state and federal government grants from the likes of Home Care and NDIS, as well as private organisations. It runs more than a dozen different programmes and eventually, this structure took its toll on Nextt’s financial management systems.
Cumbersome multiple data silos
Disparate finance systems
Too much manual work
Poor reporting capability
“We were running six different finance systems, each linked to a separate operational database, as a legacy of multiple acquisitions. This meant that we had limited financial transparency, and timing and accuracy of our financial reporting was low, with frequent manual interventions. The accuracy and reliability of numbers was a real problem for us; we didn’t have the time to reconcile discrepancies. Our entire finance team was just churning out numbers, and we had very little ability to drill down and understand business performance.”
Mark Mulder, Nextt GroupTHE SOLUTION
Consolidating multiple financial systems with MYOB Acumatica(formerly MYOB Advanced)
Leverage Technologies was instrumental in helping Nextt build a new Chart of Accounts, and overseeing the complex mapping and integration of consolidating multiple systems with MYOB Acumatica(formerly MYOB Advanced). MYOB Acumatica was selected for its functionality, flexibility and competitive price.
Leverage Technologies performed consulting and implementation of the MYOB Acumatica system for Nextt Group.
Why did Nextt Group choose MYOB Acumatica?
Cloud-based ERP system with functionality required to manage multi-company accounting
Fully hosted and supported in the Cloud – flexible system
Competitive pricing model
Integrated data analytics in real-time
We were influenced in our choice of MYOB Acumatica(formerly MYOB Advanced) knowing we’d have a partner that could help deliver the platform we required. Leverage Technologies has been very structured, organised and professional.
Mark Mulder, Nextt Group
OUTCOME
Real-time reporting and centralised database
With Advanced, Nextt now has a centralised database, and its finance teams in its regional centres are able to access information via the cloud. This increased depth of knowledge has brought greater operational efficiency. The interface with the Carelink CRM package means invoices are dropped automatically into MYOB Acumatica(formerly MYOB Advanced). Debtor and creditor management, invoicing and receipting have all been streamlined, and finance staff estimate the level of paperwork has fallen by 60%.
Consolidated central database
Manual process automated
Vastly improved reporting and analytics
Greater operational efficiency
Streamlined company structure achieved
“This is a massive benefit, which has totally transformed our business. “The reporting we get from Advanced is fantastic; the biggest benefit is being able to align our financial and operating data. We can look at the programmes, the revenues, the direct costs and the growth margins, and align that back to hours of service so we can understand the actual drivers of the business.”
Mark Mulder, Nextt Group
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