AT A GLANCE
- IT services
- Lack of flexibility to make changes to the system
- Unreliable audit trail
- Support was located remotely and the time difference impacted efficiency
- MYOB Advanced
- The ability to customise invoices across businesses and countries
- The flexibility of easy multi-currency management
- System can be adjusted and set for different tax structures in multiple countries.
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Established in 1997, GX2 Technology is an IT services company that has been at the leading edge of designing, developing, implementing and maintaining Wi-Fi networks for a range of tourism and commercial clients, from hotels and backpacker resorts to conference centres. Being very good at what they do has seen GX2 Technology grow to employ 50 staff across Australia, Fiji, NZ, UK and the US.
Invoicing is at the financial heart of every business, ensuring cash keeps flowing, so it’s vital that every aspect of this function runs smoothly – especially when multiple currencies are involved. For 6 years GX2 Technology had been running an online accounting system, but a major pain point was the lack of usability and flexibility with data extracted out of the system. It meant there was no easy facility to make changes to things such as the layout of an invoice, so they frequently needed to go to the provider to get changes made. Also, the audit trail was unreliable and essential support was based in Ireland which meant that most problems were an “overnight fix” which didn’t help productivity or anxious clients. Cara O’Neill, Chief Financial Officer of GX2 says, “As a business that prides ourselves on delivering the very best Wi-Fi communications solutions, we demand that every aspect of our own technology is equal to what we provide our clients.”
Functionality and flexibility
Given the large capital outlay involved GX2 did their homework. They decided to put a query through the MYOB website. It soon became apparent that MYOB Advanced Business was the ideal fit for GX2’s needs. Being online was obviously one of the mandatories in choosing the Advanced solution, but it was the other key features, like consolidating accounts for multiple companies, the flexibility of multi-currency management, the project management functionality and inventory management that “sealed the deal” for GX2.
MYOB Advanced is taking GX2 forward
In terms of adapting to the new system it took about 3 months of using MYOB Advanced for the team within the primary trading company (Australia) to become completely familiar with it. GX2 has now replicated the introduction process with all of their other trading companies around the globe. GX2’s decision to change to Advanced has been rewarding says O’Neill, “We’ve improved workflow as well as having greater visibility into all aspects of our business, particularly inventory. We’re finding there’s a lot less reliance now on spreadsheets, which makes life so much easier.” Because Advanced has allowed GX2 to take a lot of information off spreadsheets more information is readily shared across the business rather than being stuck with one person.
A world of difference
Being a cloud-based product has made it easy for GX2 Technologies to deploy Advanced to all of their overseas locations and just as importantly, utilise Advanced to easily consolidate multiple accounts and simply deal with multiple currencies.
”With the new system (Advanced) we don’t have to worry about multiple currencies anymore. It’s no longer a big deal!”
Plus, the flexibility within the system allows for fields to be adjusted and set for different tax structures in different countries. In terms of process and improving efficiency and workflow, GX2 can customise their own forms and invoices without needing to rely on an external party.
“Advanced has been fantastic for our accounts team, we’ve saved days of effort by automating repetitive manual tasks.”
Source: This article was originally sourced from MYOB