On the cutting edge of financial solutions

Cutting Edge has reported great results from replacing its incumbent Arrows Financials system with a TechnologyOne solution.

The Australian television and film post-production and creative communication company turned to TechnologyOne because its businesses processes were outgrowing the old software.

TechnologyOne was able to provide a modern, flexible, quick and easy reporting solution across the different business units and locations. 

Cutting Edge Financial Controller, Anthony Ragusa, explained the company had an extensive list of functions it wanted to gain from the software and was looking for a simple solution that could meet its needs.

“We had a list of 200 items the solution needed to fulfil. Ultimately, TechnologyOne met our rigorous demands and could give us value for money, so it was chosen over the other available software solutions, such as Microsoft,” Mr Ragusa said. 

With the implementation of TechnologyOne Financials, Cutting Edge saw a significant increase in productivity across its business functions.
The Payroll module allowed Cutting Edge to reduce the time spent processing employee payment from one day to less than two hours. This meant payroll staff could be diverted to more important HR tasks and spend their time managing employees. 

The complicated process of requisitions was also simplified using Financials, as any staff member could electronically raise a requisition order to be approved by senior management. This meant paper purchase orders (POs) were entirely eliminated along with the majority of Accounts Payable data entry, with all processes carried out as soft copy.
“We complete POs for around two-thirds of our projects, so using electronic processing we’ve managed a 60 per cent decrease in the amount of data entry. Having simplified our requisition processes, Cutting Edge has seen a 95 per cent gain in efficiency,” Mr Ragusa said. 

The ability of Financials to integrate with additional systems has also seen Cutting Edge implement a new scheduling system designed to manage current and upcoming projects. The ease of integration and simple process of migrating data into Financials meant the new system could be delivered on time and on budget. 

The implementation of Financials also meant Cutting Edge had the ability to grow its business. With the TechnologyOne solution able to accommodate any future company growth, Cutting Edge is confident it can expand to an unlimited number of locations and business units.

The ability of Financials to store years’ worth of data also benefitted Cutting Edge, as it was able to build an accurate and thorough database, which could be used to create a strong financial picture of the company and project future growth. 

TechnologyOne’s local technical support was also a significant factor in Cutting Edge’s decision to choose the Financials solution and the production company’s commitment to support Australian businesses meant they were eager to invest in TechnologyOne software. 

“Having a supplier that we could deal with directly rather than going through a re-seller was important for Cutting Edge, as it meant technical advice was always on hand. The fact TechnologyOne is a Brisbane-based company also meant we had the opportunity to support a local business, which was something we felt strongly about,” Mr Ragusa concluded.