Royce Cross Group (RCG) is made up of three complementary companies - importing and supplying electric motors, gearboxes, electrical accessories and power transmission products - which were all running on different systems. This led to a lack of oversight and days of manual work each month.
Fast-growing family-owned business
What began as a family-owned business importing electric motors, is now a multi-pronged organisation offering an extensive range of electrical and engineering products, shipping Australia wide.
As William McFarlane of RCG explains, because they were three individual companies, they had three systems and three different ways of doing things.
“We do a lot of inter-company purchasing and we needed to decrease time spent on purchase orders. We needed a program that could incorporate all three companies.” he says.
The company began looking for alternatives.
Disparate companies creating errors and manual work
An individual AccountRight Premier account for each of the companies offered a short-term solution. While they were happy with the software, they still sorely needed a single, overarching single system.
“Quite honestly, I used to spend half my day doing inter-company stuff.” says William.
A lot of that time was taken up with managing data that had been entered three different ways, to get consolidated reporting across the group.
“I could easily take up half a day on data.” says William.
Inventory management was often inaccurate, with staff working around the complicated system by selling items as ‘misc’ rather than creating purchase orders.
Three entities, one business system
MYOB Advanced, says William, was one of the few systems that could manage multiple entities.
“We have the same physical location, but three companies still have their own accounts payable, receivable, expenses and customers, and we needed a programme that could keep each unit independent, and easily manage inter-company transactions.”
- William McFarlane, Royce Cross Group
As the company evolved, the separate entities began to sell each other’s products – growing the group’s sales and offering a more seamless experience to clients. That made business sense but managing it in the back end had always been a headache, which MYOB Advanced Business could solve, saving time and money.
The RCG financial reporting was also a critical element, which William says is made much easier by MYOB Advanced Business.
“We can run financial reports out of all three companies and do a comparative profit-loss sheet, stake-holdings across the group – it gives us the big-picture view.”
William says their MYOB Business partner was “fantastic,” especially when it came to migrating the 55,000 items over to the new system.
Keeping track automatically
Now, with the three entities operating under one system, longwinded processes are completed automatically.
Rather than spending half-days generating reports, they happen almost at the touch of a button.
“It’s so much quicker: reports link back to the transaction history by customer. You can export things to Excel to manipulate them if you need to and reimport the data easily – all good things.”
“We can see, in one screen, returns, credits, sales, invoices – it makes it so much easier to keep track of purchase history.” he adds.
William says he loves that the system can handle multiple currencies, email sales orders and purchase orders from within MYOB Advanced Business.
He has customised the programme to accommodate multiple branches, which lets him simplify transactions. “You’re able to look at an individual document to see which branch you’re working in. It’s made it so much easier for the accounts team and saved a lot of time.
That is echoed by his team, who all say they’re “extremely happy with the way the system works.”
“We’re extremely pleased with the program. We’re able to work as one team with one set of principles. It’s very good to be able to do our own customisations.”
Before implementing MYOB Advanced
After implementing MYOB Advanced
Lack of easy oversight over three entities
Consolidated reporting extremely time consuming
Error-filled inventory information
No easy way to manage inter-company transactions
All entities managed individually, but in one system
Simple reporting saves hours each week
Products easy to track, reducing inventory errors
Inter-company transactions managed automatically.