4C Group Transforms Financials with Percipient and Sage Intacct

 Modern cloud capabilities bring intelligence, efficiency and scale to the leading hotel management and development company.

About 4C Group

4C Group manages and develops properties and hotels in key business districts and leisure hotspots 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 are the first in the UK for the 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.

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 scale, flex, and deliver intelligent reporting to the board, investors, and General Managers across 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 wasn’t cloud-based was also an issue, as in a world where people are no longer tied to a single location for 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 multiple ones, as they had previously, by entity.

“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

• 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 time, providing visibility and agility that isn’t possible with traditional accounting systems.

• Clarity of Information
  

  The clarity of the available information enables 4C Group to produce high-quality reports and view financial data for all entities in granular detail. The finance team can also set up reports to satisfy lenders’ and investors’ requirements.

• 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 leverage economies of scale, but this can also help drive down costs and improve quality.

• Cashflow
  

  4C Group now has a live, robust view of its debt balances at any given time; therefore, it can accelerate invoice chasing and optimise its cash position.

• Empowering General Managers
  

  According to Alex, one significant benefit is that you don’t need 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 financial metrics with speed and accuracy, opening more opportunities to optimise revenue and add value.

• 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 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 after go-live, they helped us resolve 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.”

Multi-Award-Winning Sage Intacct Partner

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.