Search
Close this search box.
Case study

Cydar Medical – Powering international expansion

With Sage Intacct, Cydar Medical has streamlined its financial processes and powered its international expansion.

Global icon
Seamless US and UK account consolidation
Non Profit
Clear view of budgets, informed by richer, deeper insights
Professional_Services
Month-end tasks streamlined and brought in-house

Background

Ruth is the financial controller at Cydar Medical – a company that provides regulated cloud-based AI clinical applications within an enterprise data architecture to support healthcare organisations in the provision of improved outcomes in image-guided surgery.

Challenges

Ruth found herself constantly swamped with requests for lots of reports that her small finance team was struggling to produce quickly. The pressure was intensified with external shareholders constantly demanding varied reports, rapidly consuming the team’s valuable time.

Having two entities, one in the US and the other in the UK, added another layer of complexity. The challenge of consolidating accounts from both entities was daunting. Ruth grappled with their existing system—a combination of Xero and spreadsheets.

It was not only tedious and time-intensive but also error-prone. Ruth envisioned a system that could swiftly provide balance sheets and profit & loss insights at a moment’s notice.

Requirements

As Cydar is a business operating across the UK and US, Ruth was on the hunt for a solution that could facilitate global consolidation. The ability to seamlessly handle multiple currencies and entities was especially important.

On top of this, she wanted the power to report on various dimensions. Insights considering factors like hospital locations and associated costs for installations were crucial for Ruth to make informed business decisions about project profitability.

“I’ve enjoyed working with Thinc because both sales and implementation teams have been really helpful throughout. They’ve been very responsive, proactive and have always taken time to make sure that I feel comfortable with the product. They’ve been a pleasure to work with.”
Ruth Aspel – Financial Controller, Cydar

Solution

Ruth’s pursuit for a perfect solution led her to Thinc. Impressed by our consultative approach and a clear breakdown of how she’d get a fast time to value, she felt confident in her choice.

Thinc introduced her to Sage Intacct’s core financial modules complemented by Purchasing and Order Entry. This system streamlines the Quote to Order to Invoice workflows, as well as their approval process during purchasing to help keep costs under control.

 

Results

No data was found

Ruth’s decision to adopt Intacct has transformed the daunting task of consolidating reports from the US and UK entities into a straightforward process. She can now effortlessly report on both the UK and the US side of the business, and the challenges of juggling spreadsheets and tedious manual conversions are a thing of the past.

The reports generated aren’t just simpler to produce but also offer deeper insights. Ruth can now monitor budgets against expenditures and evaluate departmental performances with ease. The Intacct dashboards also give Cydar a consolidated view of all KPIs, so she no longer needs to manually extract information.

Additionally, the process of syncing and uploading payments is super easy. With the integration of Yooz, an Intacct add-on, invoices are now automatically populated, saving precious time.

With a greater level of financial automation, Ruth has now managed to bring month-end tasks that were previously outsourced in house. This has meant that the month-end gets finished around a week sooner than before and has brought down the costs.

As Cydar continues to rapidly expand, particularly in the US, Ruth is confident in navigating the complexities of new tax regulations. The integrations of Avalara and HubSpot with Intacct will make sure she can effortlessly tackle these challenges with a platform that scales with the business.

 

Service excellence:
our approach

A Plus Sign to indicate that we connect

We connect

First we listen. It's our priority to learn who you are, how you work and the unique challenges you face.

We collaborate

Through this understandingwe come together guiding you to the right solution to create tailored solutions built to your precise needs.

We Amplify

We continue to work hand-in-hand with you, supporting you as you grow and helping your business maximise its potential.

Speak to our experts

See how we could transform the way you do business

What is Sage Intacct?

Learn more about sage intaact through our
industry leading insights and knowledge

Thinc about sage this way

Thinc about sage that way

Is sage Intaact right for you?

Speak with us

Enter your details into the contact form below, and one of our experts will be in touch to arrange a time to speak.

Contact Details

Support

If you’re an existing customer looking for support, please e-mail servicedesk@wearethinc.com, or visit our support page where you can download our remote support apps.