New ERP solution reduces the time to handle accounts payable by 80% each month

Created in 1983 by the Qikiqtani Inuit Association (QIA), Qikiqtaaluk Corporation focuses on strengthening the social and economic well-being of Nunavut and the more than 15,000 Inuit people the QIA represents. The for-profit entity has 13 companies, each conducting different business and using different accounting practices. Data entry was cumbersome and time-consuming for the finance team and the organization couldn’t draw on real-time information for making decisions.

Qikiqtaaluk Corporation had been using Sage 50 for more than 20 years and it was no longer meeting its needs. The 10-person finance team spent most of its time entering data manually and didn’t have visibility into the full cycle of accounts payable and receivable required because payments weren’t linked to the system.

Additionally, over time the number of GL codes had grown to more than 3,000 and they weren’t consistent across the 13 entities. Qikiqtaaluk Corporation also needed improved reporting functionality and they wanted the ability to drill down to get to the bottom of transactions to make the approval process more transparent and efficient.

Realizing that their current platform was no longer the right fit, the finance team began looking for a new enterprise resource planning (ERP) solution. They reached out to Sage, who introduced them to MNP Digital.

After an initial discovery meeting with MNP Digital, the finance team put the project on hold to complete a full analysis of its requirements before opening a request for proposal and inviting MNP Digital, and others, to respond. The organization was looking for a partner that could implement a new ERP solution and handle the change management aspect of the project, as well as provide guidance throughout the process. After completing the procurement process, they selected MNP Digital as their partner.

The MNP Digital team began by meeting with Qikiqtaaluk Corporation and conducted interviews to understand the existing financial processes for the 13 companies. With an in-depth understanding of the organization’s needs, MNP Digital recommended Sage Intacct.

It would allow for customized dashboards and reporting, eliminate manual data entry, and give non-financial users access to information without having to go through the finance team.MNP Digital then created a standardized chart of accounts that reduced the GL codes from more than 3,000 to just 500.

While customizing dashboards for the 25 users of the new ERP solution, MNP Digital ensured that communication with Qikiqtaaluk Corporation’s team was transparent to help manage the change. During the Sage Intacct implementation phase, MNP Digital provided on-site training for the finance team. As the go-live date approached MNP Digital also provided training for the non-financial team members, including the managers and business owners.

Thanks to the training process, the transition to the new solution was smooth and all employees, including leadership, bought in immediately. Sage Intacct has saved the finance team hours a month. For example, the amount of time it takes to handle accounts payable has been reduced by 80 percent.

The new dashboards and reports have made it easy for non-financial users to use the solution. They no longer have to go through the finance team and now have real-time information to use for faster, more informed making decisions. This has eliminated hundreds of back-and-forth emails. The new solution also allows managers to approve invoices and expenses daily instead of once a month.

Creating reports used to take the finance team dozens of hours. Now, with customized frameworks built by MNP Digital, reports can be produced at the touch of a button.

The finance team can now use the time freed by Sage Intacct to focus on higher-level tasks and move the organization’s priority strategic initiatives forward.