LandVest, Inc. is a luxury real estate sales and consulting firm, in business since 1958. They have 15 offices in the northeast with 120 employees with approximately $20 million in annual revenues. LandVest had been using AccPac for 23 years when they began looking for a new ERP solution, seeking a more up to date, user-friendly software solution. LandVest was in need of an ERP software solution that included:
-
back end accounting (AP, AR, GL),
- budgeting, planning and forecasting,
- cash management/bank reconciliation,
- invoicing,
- reporting and
- PO's.
The company has three major entities, which the software needed to accommodate. Management was looking for a software solution that had the ability to evolve as the company continues to grow. LandVest was seeking an ERP that would be able to generate separate financial statements as well as consolidated for the three major entities of the business. They needed to be able to set up departments or divisions and set up sub-accounts within those divisions. LandVest needed to have the ability to track expenses for the company as well as employee expenses since they accrue expenses from consulting with clients.
Success: All locations spread across the U.S. now have 24/7 access to the system and LandVest can now see their reports in real time. Manual entry has been eliminated and financial reports are in the formats they require. LandVest can now close their month 10 days sooner and have conservatively estimated they have gained 33% more productivity from their accounting staff.
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