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360 Capital uses Sage services to get listed in ASX

31 Oct 2019
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Cloud financial management solutions provider Sage has announced that ASX-listed investment and funds management group, 360 Capital, will use financial accounting software, Sage Intacct, to consolidate views of multiple funds across its business in one platform.

Sage launched its cloud financial management platform Sage Intacct in Australia in August this year.

The platform provides multi-dimensional accounting automation for financial operations and visibility for real-time decision-making.

Sage Asia Pacific executive vice president and managing director Kerry Agiasotis says, “Today, the finance function is undergoing a major shift due to digital transformation. Sage Intacct is built with the aim of minimising administration time and empowering finance professionals to seize the opportunities digital transformation presents, by becoming business strategists rather than number crunchers.”

360 Capital has recently expanded its strategic focus areas to real assets, credit, and private and public equities.

As part of this shift in strategy, it plans to list the 360 Capital Digital Infrastructure Fund on the ASX.

360 Capital funds financial controller Matt Bowden says, “The business’ priority was to implement a product that could prepare the consolidated views for the various funds directly within the system in a fast and efficient way.

“That's where we see a benefit to us, with Sage Intacct, both from a cost and time-saving perspective. We also required financial software which could grow and move with us as our business grows and gives us that flexibility while also offering access to real-time information and visibility over all levels of our business.”

Channel partner MicroChannel worked with 360 Capital on the systems integration process.

On the consultation process, MicroChannel Sage practice director Stefan Coetzer says, “One major selection criteria for 360 Capital was the need to eliminate future upgrades by always running on the latest version of the software.

“The solution to this was to put forward a native cloud system with the agility to adapt to a rapidly expanding business. 360 Capital required integrated, centralised financial data with the capability to grow and scale to fit with the global business and Sage’s modular strategy filled a gap in the market.”

Earlier this year, Sage announced the release of Sage Business Cloud Enterprise Management V12, its ERP solution for fast-growing businesses.

The update allowed customers in product-centric businesses with mission-critical operations, specifically in manufacturing, distribution and agriculture, will now be able to:

  • Choose how they use the solution, based on their need for cloud, hybrid or on-premise deployment.
  • Select role-based, responsive interfaces that present tailored workflow, data, and analytics customisable by job role.
  • Integrate bespoke 3rd party apps to extend the functionality of Enterprise Management with newly opened API’s.