When it comes to purchasing any kind of software solution, a measure of hesitance is perfectly normal. Sometimes it can be difficult to make decisions that can have an impact on the success of your business. It is often easier to first understand how it has helped another business similar to yours. Here we highlight three success stories from clients who were very satisfied with CaseWare – clients that are just like you. You can read through them to see how CaseWare has significantly streamlined their production of Annual Financial Statements.
Mpumalanga Gaming Board (South Africa)
The Mpumalanga Gaming Board was using a spreadsheet programme for their preparation of Annual Financial Statements. However, they found the process slow and labour-intensive. To gain the benefit of reduced time, greater accuracy and compliance – in this case with Generally Recognised Accounting Practices (GRAP) – they opted for CaseWare.
“With CaseWare, many of the time-consuming, laborious tasks associated with the preparation of Annual Financial Statements were automated. The software also ensured that all the requirements for GRAP compliance are fulfilled. It draws attention to any discrepancies, improving accuracy,” said CFO Lucas Maseko. “Based on how well it works and the automation it offers, I think any government department can benefit from this software.”
The public sector entity, responsible for performing all functions assigned to it in terms of the Mpumalanga Gambling Act, has reaped positive results in its significant acceleration of the performance of its finance department. It now produces quality Annual Financial Statements which are GAAP compliant, error-free and with a high degree of automation and speed.
Onderstepoort Biological Products (South Africa)
This veterinary pharmaceuticals company has found the production of Annual Financial Statements faster, easier and more accurate since they embraced CaseWare. Previously, the government organisation relied on spreadsheets. Financial Manager Zolani Poni said it used to take a whole month to finish the documents – a process that now takes just two days.
“The structure in CaseWare means that once the files are set up and mapped, you just update with new information. With CaseWare keeping the core information as well as your calculations, once your Trial Balance is correctly mapped, the output is synced. Functionality like this makes life a lot easier,” he said.
Onderstepoort Biological Products reported that the auditors were very impressed with their Annual Financial Statements and noted the quality of their IFRS disclosures.
M2R Audit Services (Uganda)
M2R were finding the compilation of Annual Financial Statements to be a lengthy and inefficient process that carried the risk of failure to comply with legislation. Frequent changes to regulations like IFRS and IPSAS increase the risk of inaccuracies. However, upon moving to CaseWare, M2R found that this was no longer a problem as the software would immediately identify and resolve any discrepancies. The company also saw improvements in their screening procedures.
“My business is still in the start-up phase, but the cost of the software is well justified,” said Robert Mugangaizi, partner in the company. “Thanks to the support of the software in enforcing adherence to good financial practices, my client screening procedures have become more stringent. CaseWare has become my trusted audit execution assistant.”
M2R, like many other companies, have benefitted from the simplified risk identification and analysis provided by CaseWare.
With a long history in the automation of compliant financial statements, CaseWare is trusted by companies in the same field the world over. The solution, which has been helping businesses for twenty years, is used in more than 130 countries, and has 18 000 users in Africa alone. Your story could be up on our blog this time next year – a tale of success waiting to happen. Contact us to request a quote or a live demo.