Sage Intacct Success Story: Monetary Metals

Company Overview:

Monetary Metals is a financial services company that specializes in the field of gold, investing, and financing. The company’s main purpose is to lend gold and silver to productive businesses so that both parties can benefit from the interest in gold.

The Challenge:

Monetary Metals reached limitations with their current ERP system, QuickBooks, during a time of increased growth and complexity. They continued to run into obstacles with tracking inventory and elimination of intercompany transactions in consolidations. This forced Monetary Metals to refocus its strategic goals on a new ERP system that would take its business to the next level. Monetary Metals crafted a list of specifications to create an RFP focused on finding a solution that was more tailored to their company. After reaching out to Acumen, our consultants were able to guide them through their processes, present solutions, offer training and demonstrations, and provide them with the support they needed to move forward post-implementation.

Eventually, tomorrow’s problem became today’s headache when QuickBooks had too many limitations and left Monetary Metals with the clarity for their decision that a change was necessary.

The Solution:

Implementing Sage Intacct, the leader in accounting and financial management software.

Monetary Metals can now manage and support its business with an ERP solution that can handle change. Their close schedule has become a more regular, consistent process without system issues or errors. In addition, Monetary Metals can now produce consolidated financials in hours with accuracy and confidence, where it used to take them days or weeks. Sage Intacct has also improved its Accounts Payable processes by allowing Monetary Metals to maintain the speed of processing their vendors require and creating efficient workflows to help standardize the process.

Nathan Lucas, Chief Financial Officer from Monetary Metals quoted, “We were extremely impressed with how efficient Acumen was during the whole implementation process. They shaped our configuration decisions at the right times, were very professional, and had excellent product knowledge of Sage Intacct and used that to tailor a solution for Monetary Metals. It is one thing to know the product, but it is another thing to understand the business and make the product work, which is why we chose Acumen in partnership with Sage Intacct.”

Key Takeaways:

  • Out-of-the-box ERP solutions can cause issues when errors or complexities arise.
  • Having the right team of consultants can make all the difference in a successful ERP change.
  • In an ever-changing economic environment, investing in an ERP system and a team that can handle evolving problems can save you stress and money in the long term.
  • When new technology is paired with consultants who understand the practical use of the product it allows for a smooth transition.

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