Global Growth Drives Need for Efficiency and Operational Visibility

For over twenty years, Cameo Global has provided Fortune 500 companies with the full lifecycle of IT services. With four different entities, and continued international expansion on the horizon, the company’s prior system was unable to support global management and reporting capabilities. One of the biggest challenges for Cameo was managing its global consolidations and currency conversions in a timely manner. Because the company used multiple accounting applications worldwide, it previously took the internal team three to five months after the end of every quarter to organize its global financial data in Excel and execute all currency conversions, before loading it into the accounting system at headquarters.

We were blown away by Sage Intacct’s global consolidations capabilities and the flexible reporting and analytics, along with its overall scalability and the flexibility to plug into any other business system we needed.
Mike Munson
Controller
Cameo Global

Previous business challenges

  • Fast growing services company wanted a flexible and full-featured financial management and accounting system to support ongoing growth
  • Required multi-entity, multi-currency capabilities for automation of time-consuming, complex manual consolidations and other processes
  • Needed to integrate accounting software with existing business applications to reduce manual data entry and improve data accuracy
  • Looking for robust reporting and dashboard capabilities to gain greater visibility into labor costs and project profitability

Results with Sage Intacct

  • Increased productivity and minimized finance staffing needs despite company growth, avoiding 2 full time employees and saving $100,000 in annual salary costs
  • Shortened global consolidations from several months to just a few weeks, and automated currency conversions
  • Cut a week of data entry each month through integration with ADP, Concur, Kronos, and credit card processing systems
  • Provided greater insight into financial and operational trends across multiple dimensions via flexible, real-time reporting
  • Enabled data-driven decision making with accurate, timely information for optimizing project profitability and billing utilization
  • Gained self-serve capability for business leaders, eliminating time consuming report creation for the finance team