“To post a general entry that affected 5 entities, it took us about 15 minutes,” Frank Amato, COO & Controller for Basepoint Capital told us. “We had to log into each entities accounting system, post the entry, and then log out and repeat the process.”
Before moving from Quickbooks to Microsoft Dynamics GP with Binary Stream’s Multi-Entity Management (MEM) solution, Frank was faced with having to manage over 40 entities in as many different databases. These caused, not only him but the whole company many headaches as they were forced to manage many disparate systems.
Frank mentioned how time-consuming managing their different entities was. “It was like pulling teeth for us to just post to each database, not to mention produce consolidated reports or generate useful insights.”
After talking with many different partners trying to solve their issues, they were told about Microsoft Dynamics GP with MEM as an add-on. They were immediately impressed by how MEM would allow them to enter all of their general entries into a single excel spreadsheet, then upload it into Dynamics GP, and it would propagate the entries into the correct entities.
“By consolidating our entities under MEM, we were able to take a process that used to take us 15 minutes per entry, and turn it into something that now takes us under a minute,” Frank mentioned.
Adding MEM to their company’s accounting system has freed up hours a week for Frank and his team. It has made the entire company much more efficient, as well as created a more automated system that is more accurate and consolidated.
Frank described his experience with Binary Stream’s Multi-Entity Management as being seamless, efficient, and time-saving. “It’s been a great solution for our business because it has provided us with exactly the functionality we needed to eliminate all of the redundant tasks we were forced to do before.”