Automated management analytics and optimized investments

Before adopting EMASPHERE, the management team had to key the figures from the accounts prepared each quarter by their external accounting firm into Excel by hand, to put them into their management accounting format and compare them with past data. “What’s more,” adds Frédéric Pouchain, “the static, aggregated format of the accounts didn’t let us see the invoice entries behind an amount when it raised questions.” These tasks took up time, carried a risk of errors when reprocessing the information and, above all, “didn’t give us the answers you would normally expect when your accounting is outsourced.”

Setting up the solution was very simple, quick and inexpensive: Whitestone’s accounting firm uses an accounting system (BOB50) for which EMASPHERE had already developed a connector, so all it had to do was install it.

On Whitestone’s side, the data was immediately available through the EMASPHERE website, as it is a cloud solution. To map the statutory format to the management format, “it took just two days of consulting with an EMASPHERE expert who fully masters accounting, finance and IT.”

The management solution developed by EMASPHERE meets the need to take back ownership of the financial figures and automate them because, as the partners put it, “Excel spreadsheets had had their day.”

“One of the solution’s major strengths is that it automatically updates the data between the statutory accounts and the management accounts. That gives us an instant, reliable three-way view of the income statement, cash and the balance sheet,” notes Sandro Ardizzone.

Whitestone’s team now works more efficiently, more accurately and faster on analysis. “Comparing ratios with the previous year is easy, and the variance between actual and budgeted figures is instant and updated automatically,” Sandro Ardizzone explains. “That would have been hard to do with our accounting firm.”