London Financial Firm Upgrades to Acumatica, Trades Data Problems for New, Flexible ERP
Customer Company Size
Mid-size Company
Region
- Europe
- America
- Asia
Country
- United Kingdom
- Japan
- United States
Product
- Acumatica
Tech Stack
- Cloud-based ERP
Implementation Scale
- Enterprise-wide Deployment
Impact Metrics
- Productivity Improvements
- Cost Savings
Technology Category
- Platform as a Service (PaaS) - Data Management Platforms
Applicable Industries
- Finance & Insurance
Applicable Functions
- Business Operation
Use Cases
- Supply Chain Visibility
- Predictive Replenishment
Services
- Cloud Planning, Design & Implementation Services
About The Customer
Founded in London in 2005, Fixnetix is a leading managed service provider for the global financial community. The firm provides market data, trading access, liquidity venue connectivity, and pre-trade risk management globally for market makers, investment banks, hedge funds, and proprietary trading houses. By facilitating low-latency, resilient, and secure trading, Fixnetix enhances operational efficiencies for the world’s electronic trading communities. The firm has grown rapidly and has built a reputation as an award-winning international technology vendor. Fixnetix is headquartered in London, with offices in Boston, New York, and Tokyo.
The Challenge
Fixnetix, a London-based managed service provider for the global financial community, was initially using QuickBooks for its U.S. and UK operations. However, the firm quickly outgrew the software due to its limited functionality and slow processing speeds. The software was unable to handle the volume of data, causing frequent data errors and loss of customer accounts. It took over 30 minutes to run a financial report, and customer accounts would be lost at least once a month, causing major operational issues. The firm needed a more robust and reliable accounting system that could handle multiple currencies and subaccounts.
The Solution
Fixnetix chose Acumatica as its ERP provider to replace QuickBooks. Acumatica offered an unlimited-user pricing model, which was a key factor in Fixnetix's decision. The firm was also able to install Acumatica on its own servers to comply with its high security standards. The implementation of Acumatica was quick, taking only a month, and the go-live was on time. Acumatica's flexible subaccount structure allowed Fixnetix to view sales, profit, and loss values by customer, product grouping, and supplier. The system also provided reports that showed the remaining balance of deferred revenue as well as the projected income.
Operational Impact
Quantitative Benefit
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