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"We are confident that we have chosen the right system to help facilitate our future growth."

Erin Tomaino, Director of Business Process, IGX Global

Since 1998, IGX Global has been working with organizations ranging from technology start-ups to Fortune 500 companies helping them leverage technology to achieve their organizational goals. They provide solutions that help clients to develop, deploy and sustain an effective long term network and information security plan, by supplying clients with the intelligence required to make informed decisions, the products that provide insight and enforcement, the expertise to ensure smooth integration and the operational support to sustain performance.

Headquartered in central Connecticut between two of the largest commercial and financial cities on the globe, IGX focuses decades of experience to help organizations maintain stable, secure technology infrastructures.

Products in Use: FinancialForce Spend Management

Company size: Small

Previous system: QuickBooks

Location: Rocky Hill, Connecticut, US

Industry: IT Services

Business Issues

  • Use of 25 different price lists in different regions with over 33,000 part numbers loaded into system caused complexities
  • Unable to report on order backlog (booked orders, not yet invoiced)
  • Unable to align recognized revenue with cost of goods due to Quickbooks limitations
  • Putting together financials for deferred revenue items caused problems
  • Quickbooks had no access control setting so anyone could go in and make changes
  • Too much duplicate data entry caused inefficiencies across each department, e.g. – Sales created a quote; an Order Processor created an order; Finance created an invoice
  • Money lost due to over/under stated revenue and errors over parts ordered. Lack of reporting capabilities

We have gone from being heavily reliant on Excel spreadsheets with no reporting capabilities to having all information in one controlled system.

Erin Tomaino, Director of Business Process

Benefits & Results

  • Integration between FinancialForce SCM and accounting system means cost of goods and revenue recognized in same month
  • Quality of data has improved and is better controlled
  • Now have the ability to easily track deferred revenue by line item
  • Printed quotes look more professional with less chance of errors
  • Converting orders to sales orders now takes seconds as opposed to an hour
  • Powerful reporting capabilities and weekly backlog reports help projections for closing that month (finish and invoice)
  • Ability to see purchases from vendors means they can also see when reaching purchase quota and helps to better negotiate preferred supplier rates
  • Systems now flexible to support potential growth through acquisitions with systems that can easily adapt to added headcount
  • Every department now has visibility across supply chain processes from opportunity, to quote, to PO, to sales order and to AP voucher, improving communication for organization, team, suppliers, and customers
  • Accuracy checks and alerts are built into the system and saving money lost to errors - e.g. if Accounts Payable voucher is put into the system at wrong price the right person is alerted beforehand to prevent overpaying
  • Easier to work remotely and with colleagues in UK office

We have seen a reduction in errors and an increase in efficiency throughout our sales, procurement, and finance processes.

Erin Tomaino, Director of Business Process