Sage 200 Standard is a richly-featured, cloud-based accounting solution that facilitates efficient management of your organisation from anywhere. You can access it anywhere at any time and gain real-time insights into business operations. It possesses all the core financial capabilities you need now and as you grow further down the line.
It comes with regular, automatic updates and requires no on-premise hardware or expert IT management within your company. It is a low-maintenance, cutting-edge finance product with a great deal of power that could really level up your organisation.
It is designed for businesses with 10 to 200 employees and a turnover of between £1-50 million and its capabilities deliver for a huge range of financial services sectors.
Key Challenges for Financial Services Organisations
Manual data entry: this is slow, inefficient and prone to human error. Sage 200 Standard can automate most of these practices to streamline them and take human error out of the equation.
Manual processes: workflows that must be done manually are time-consuming and tedious. Automation can set up advanced workflows to take this out of your employees’ hands, freeing them up to focus on more important tasks.
Lack of reporting options: Reporting is crucial to gaining workable insights into performance and making decisions. Sage 200 provides rich reporting features and dashboards to give you full visibility into different areas of performance.
Laborious consolidations: Another time-consuming process that can lead to costly errors when done manually. Automate consolidation to minimise the time taken and the risk of errors.
Slow month-end process: There are many things to do at month-end and it can take a long time when done manually. Sage 200 Standard tracks and records everything in real-time so month-end can be far quicker and more accurate.
Time-consuming and manual tasks: If you haven’t already figured it out, the rich automation options of Sage 200 Standard are a massive benefit to any company.
Sage 200 Standard Enables You to Manage Your Financial Services Organisation On-the-Move
Your finance processes will be transformed and modernised with Sage 200 Standard. You will be freed up from laborious manual processes to spend less time on administration and more on analysis and making important decisions. Financial Services organisations require a comprehensive view of operations and Sage 200 Standard delivers this. With potent reporting options straight out of the box, you will be able to observe activity across all areas of investments and funds.
Sage 200 Standard delivers for a range of Financial Services firms, such as:
- Wealth and Asset Management
- Insurance
- Pension Funds
- Investment Funds
- Private Equity
- Family Office
- Venture Capital
Sage 200 Standard Offers the Following Out-of-the-Box Features
Financials
This module contains all the fundamental accounting ledgers of Sage 200: the Nominal Ledger, Purchase Ledger, Sales Ledger and Cash Book. These are the essentials needed for all your accounting.
Excel Reporting
With Excel Reporting, you have access to swift and simple analysis in a familiar interface, whenever you need it. As a standard feature, you have access to a wealth of pre-configured, powerful reports that come with the tool.
User Licences
Sage 200 Standard comes with three desktop user licences. These are very effective for day-to-day processing. You will also gain two Connected user licences which facilitate the management and sharing of data from anywhere on any device.
Get Paid Faster
Add a ‘Pay Now’ button to your e-invoices to provide options for your clients to pay via PayPal, Stripe or Opayo. Go Cardless is integrated seamlessly into the product for the collection of direct debits.
Bank Feeds
Sage 200 Standard has a built-in Bank Feeds facility that you can link to your UK bank. It also enables you to create rules and approve postings into the software. Use three-way matching to automate reconciliation.
Making Tax Digital Compliance
Your VAT return can be submitted digitally to HMRC using the built-in VAT module in Sage 200 Standard. Its core functionality includes checking box values, making and recording adjustments, uploading documents and via previously submitted returns.
How Sage 200 Standard Helps Financial Services Organisations Succeed
Three-tiered nominal ledger: Enhance your visualisation and reporting options using this 3-tiered nominal code structure and analysis codes.
Multi-currency options: Use single or period-based exchange rates throughout ledgers and cashbooks. There is the option to revalue across purchase, sales and cashbook ledgers as required.
Easily consolidate entities: Roll up a holistic view of your entities via the company management screen and built-in consolidation rules.
Advanced bank reconciliation: Link your cashbook to your bank to save time and boost accuracy. Easily reconcile statements, add adjustments/charges and log discrepancies in a single place.
Check liquidity: Gain immediate access to the balance of your accounts via the enquiry screen and workspaces.
Understand the impact of change on cashflow: A real-time view of financial status based on actuals and budgets for up to 5 years. View your long- and short-term cash position and visualise the impact delays, changes and expenses will have on your cashflow.
Conclusion
Sage 200 Standard has a host of out-of-the-box features that will service the needs of not only financial services businesses, but many other businesses too. The software can help streamline processes, increase accuracy and improve efficiency along with the host of benefits that come from choosing a cloud-based business solution.
If you would like to learn more about Sage 200 Standard, you can read our article Sage 200 Standard ERP Out-of-the-Box.
Why choose Eventura to help deliver your Sage 200 project?
With two decades of Sage deployments under our belt, we are experts in delivering robust Sage 200 solutions that are meticulously designed to suit your specific business needs. We take a full 360-degree view of your business, and help you identify all of your requirements.
Our team of expert business analysts, developers, consultants, technicians and support staff will guide you through your Sage 200 project from conception, through to deployment and ongoing support.
If you would like to speak with one of our Sage 200 experts, you can request a free call back here.
