Software developer picks Acumatica SaaS to run global operations
Customer Company Size
Mid-size Company
Region
- Europe
- America
- Asia
Country
- France
- Japan
- United Kingdom
- United States
Product
- Acumatica SaaS
Tech Stack
- Amazon Web Services
Implementation Scale
- Enterprise-wide Deployment
Impact Metrics
- Productivity Improvements
- Cost Savings
Technology Category
- Infrastructure as a Service (IaaS) - Cloud Computing
Applicable Industries
- Software
- Finance & Insurance
Applicable Functions
- Business Operation
Services
- Cloud Planning, Design & Implementation Services
About The Customer
smartTrade Technologies is an independent software vendor that develops solutions for investment banks, exchanges, and large hedge funds to streamline their order execution process across multiple asset classes. The company was founded in 1999 by former IT and trading professionals from Citigroup, Crédit Agricole, and Société Générale. The technology developed by smartTrade Technologies optimizes the trading process for over-the-counter securities and streamlines the way firms manage execution services. The company is headquartered in Aix en Provence, France, and has subsidiaries located in Paris, New York City, London, and Tokyo.
The Challenge
smartTrade Technologies, a software company that develops solutions for investment banks, exchanges, and large hedge funds, was facing rapid growth across multiple markets and multiple currencies. The company needed an advanced financial management infrastructure that could quickly consolidate and make accessible the various accounting formats and requirements from each of its subsidiaries. They also needed a system that could easily visualize the cash flow of the group by up to a month. Prior to its decision to implement an ERP solution, smartTrade Technologies outsourced the accounting in each of its subsidiaries to local accountants. Once the monthly accounts in each subsidiary were completed, they were consolidated in Paris. This process imposed a certain delay to produce the monthly reporting.
The Solution
smartTrade Technologies considered building an in-house financial solution that would support multiple entity and currency scenarios. However, they decided to concentrate their resources on their core business and benefit from current best practices. Therefore, they decided to research existing commercial solutions, giving preference to a SaaS model that required no internal resources for maintenance. After examining several ERP software solutions on the market, they chose Acumatica. Acumatica was selected for its advanced features, robust Cloud platform, customizability, cost-competitiveness, and bilingual capabilities. Acumatica also stood out for being willing to listen and meet the specific needs of smartTrade Technologies, such as the ability to predict a multi-entity, multi-currency organization’s cash flow by up to a month.
Operational Impact
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