4C Group Transforms Financials with Percipient and Sage Intacct
Modern cloud capabilities bring intelligence, efficiency and scale to
leading hotel management and development company.
About 4C Group
4C Group manages and develops properties and hotels in key business districts and leisure hot spots across the UK, East Africa and Canada. The company was formed in 2010, building on the foundations of a family property business that stretches back to the 1990s.
In 2021, 4C Group added two new developments to its portfolio, the five-star Westin London City and Canopy by Hilton London City. Both hotels represent the first in the market for the UK-based Marriott and Hilton luxury and lifestyle brands.
In 2022, 4C Group partnered with Regal London and Pluto Finance to deliver The Haydon, a residential tower of 87 apartments in Aldgate in the heart of the City of London, which is now complete.
Sage Intacct, along with Percipient, came highly recommended by many hotels and hospitality companies, and having looked at it in closer detail, it was the right fit for the next phase of our growth plans.
Instilling Scale, Agility & Intelligence
With a business strategy focused on growth and diversification, 4C needed to migrate from its Sage 200 system to a modern, cloud-based financial management platform.
The chosen platform needed to be able to scale, flex, and deliver intelligent reporting to the board, investors, and General Managers around the business.
“Having moved from Sage 50 to Sage 200 in the early stages of the business, our recent growth was outstripping the system’s capabilities,” comments 4C’s Group Financial Controller, Alex Pop. “Consolidation capabilities were limited in Sage 200 as we had to look at a single entity at a time, and there was no access to data at a top level. The fact that it’s not cloud-based was also an issue, as in a world where people are no longer tied to a single location from which to work, a lack of access impeded efficiency and productivity.
“Sage Intacct, along with Percipient, came highly recommended by many hotels and hospitality companies, and having looked at it in closer detail, it was the right fit for the next phase of our growth plans.”
Having gone live after a 12-week deployment, 4C Group quickly saw value as a result of a slicker, more intuitive and intelligent way of working, as Alex explains:
“The deployment was incredibly straightforward. Despite complexities in our data, the Percipient team remained unflappable and diligent, keeping everyone focused and on track for a smooth migration. The fact that we were moving from another Sage product was irrelevant as the two systems are worlds apart. It was Percipient’s incredible knowledge that made the real difference.”
A New Way of Working
Sage Intacct brings a new way of working, and since going live, 4C Group has not looked back. All the company’s data is in one place, and the team operates with just one Chart of Accounts instead of a multitude, according to the entity, as they had worked previously.
“Because our entities are now spread across hotels, commercial property and residential, it’s important that we have access to data on each entity, or group of entities, to view the respective P&Ls against a portfolio, market or location,” Alex explains. “Extending this further, Sage Intacct fully integrates with our other key systems, such as purchasing, resulting in us extending visibility and leveraging this enhanced view to drive down costs.”
Business Benefits
1. Speed
According to Alex, the system’s speed is impressive. Reports can be created, and P&L viewed in just a couple of clicks. A snapshot of business performance is accessible to designated users at any point, which brings a level of visibility and agility that simply isn’t possible using traditional accounting systems.
2. Clarity of Information
The clarity of the information available means that 4C Group can build good reports and see financial data for all entities in granular detail. The finance team can also set up reports to satisfy lenders’ and investors’ requirements.
3. Better Procurement
Because all information resides in one place, 4C Group has comprehensive visibility of its procurement, which is a game changer. Not only can the business make much better decisions and ensure economies of scale are leveraged, but this can help drive down costs and improve quality.
4. Cashflow
4C Group now has a live and robust view of its debt balances at any given point; therefore, it can speed up chasing invoices and optimise its cash position.
5. Empowering General Managers
According to Alex, one of the major benefits is that you don’t have to be tech-savvy to use the system. General Managers and department heads can see their respective P&Ls at any point with a few clicks. This empowers them to monitor and analyse every financial metric with speed and accuracy and opens a greater number of opportunities to boost revenue optimisation and add value.
6. Productivity
4C Group’s productivity has improved exponentially due to faster access to higher-quality, tailored intelligence. Because invoice processing and payment runs are all automated, the finance function is much more efficient.
The Percipient team is incredibly knowledgeable and truly understands hospitality. The fact that we were live within just a few months with minimal training is a testament to their experience and dedication.
The Percipient Value
“The Percipient team is incredibly knowledgeable and truly understands hospitality,” Alex concludes. “The fact that we were live within just a few months with minimal training is a testament to their experience and dedication. From day one, they worked hard to understand our business fully, and following go-live, they helped us to work through queries quickly. Sage Intacct is constantly evolving, delivering new functionality every quarter, and Percipient is always on hand to help us understand the benefits and get the most value.”
Sage Intacct Partner of the Year
If you would like to learn about Sage Intacct or to discuss how we can help your hospitality business, get in touch today or call us on 01606 871332.
