October 19, 2021

Quixant Bets on FastClose for SAP B1

Quixant PLC has become the latest company to deploy FastClose for SAP Business One management reporting and consolidation.

Quixant – a world leader in gaming and sports betting technology – is the newest customer of the market-leading Accounting Intelligence software.

As Will Kennedy, Global Head of Technology Services at Quixant, explained, “We needed to pull together the management pack across multiple SAP Business One databases. I researched numerous solutions then came across FastClose.

“The software installed easily and initially we had some issues with speed which were quickly solved. FastClose also helped us to unlock the system currency. It even addressed our consolidation issues. It was impressive how they reacted. I find that by giving a small company a chance, you get far better service than from the established players in the market.”

SAP HANA integration

Nick Gomersall, stated, “I was really excited when I spoke to Will. I explained that we work over SQL but relished the chance to run our software over a live SAP HANA environment. Will was willing to give us a chance and understood where we were in relation to SAP HANA. The technical team were really helpful and enabled us to build additional features that we did not know existed. For example, in SAP Business One, there is a system currency that – in effect – duplicates the base currencies to do real-time translation. Quixant has nine companies to consolidate. Once we unlocked this it was much easier to do the management consolidation. It is a great feature in SAP B1!”

Will offered this view on FastClose’s software, “What was impressive is their technology, as it runs in real-time and is connected directly to the live Hana database. There is no staging of data, which is exactly what accountants need at month-end. Plus you have the drill capability that enables you to go from a high-level summary figure in the P&L, right down to the transactions, and even out of GL into AP and AR.”

Save time and schedule your reports

“Another top feature is their scheduler, which allows us to automatically produce the management pack. It runs the report at a certain time and can be emailed out, as well as fed into Power BI. We liked the linkup between FastClose and Power BI, especially in today’s climate. Companies should question why they are paying huge amounts for analytical tools when Power BI comes with Office 365.”

Then, Nick highlighted the strengths of FastClose. “The key to FastClose is understanding the underling database structure. This means accountants don’t have to learn joins or complex SQL statements. We do all the heavy lifting. All the accountant has to do is pick a starting template and modify it to meet their needs. It is self-service reporting for accountants; IT do not have to get involved.”

Finally, Will offered this important point. “When running an IT department, things are always very busy, and building reports for the accounts team is something we don’t want to do. By having a product like FastClose, accountants can do everything themselves and let us get on with focusing on the key business drivers that the company needs to be successful.”