Finance Only ERP / ERP For Financial Services

Answering this question is not as simple as it seems. The implementation cost of Sage X3 is similar to asking how much buying a house costs, it depends on many factors. Sage X3 license often forms a part of the overall cost of your ERP implementation journey.

The cost of implementation varies greatly from company to company depending on their requirement and situation. The cost is based on:

1. Sage X3 modules you are looking to implement
2. Added features and automation you are looking to add to core Sage X3
3. Integrations you require with other systems
4. Number of legislations that your business needs to implement.
5. Deployment option your business requires and/or desires

and much more.

We have integrated two calculators on our website based on our implementation methodology to give you an estimate of cost. View our calculators to understand a rough idea of how much Sage X3 implementation can cost your company.

However, Mysoft offers shorter and lower-cost implementations of Sage X3 that provide a standardised single-entity accounting functionality. Sage X3 Finance is a pre-templated version of Sage X3’s ERP accounting functionality; providing users with the sophisticated features that X3 has to offer around finance, without the project complexity of bespoke modifications and customised functionality.

Mysoft’s pre-templated finance solution offers features such as:

• Access to sophisticated multi-currency operations
• Detailed transactional analysis through the use of dimensions
• Project accounting
• Bank file importing and account reconciliation
• Payment runs and payment file creation
• MTD compliant VAT configuration.

As a wholesaler or distributor, your business can be exposed to confidential information and/or trade secrets. Sage X3 offers robust security features to ensure the safe storage of sensitive data.

Role-Based Security: Sage X3 employs role-based access control, allowing administrators to define roles and permissions for each user. This ensures that only authorised personnel can access sensitive data.

1. Data Encryption: All data stored in Sage X3 can be encrypted, protecting it from unauthorised access even if someone gains access to the underlying database.

2. Audit Trails: Sage X3 maintains detailed audit trails, recording all user actions within the system. This provides visibility into who accessed what data and when, helping to detect and prevent unauthorised activities.

3. User Authentication: The system supports strong user authentication methods, including password policies, multi-factor authentication, and integration with LDAP or Active Directory for centralised user management.

4. Data Masking: Sage X3 can mask sensitive data fields to prevent unauthorised users from viewing or accessing certain information, especially in non-production environments.

5. Secure Data Transmission: When data is transmitted between Sage X3 and external systems, it is encrypted using industry-standard protocols like SSL/TLS, ensuring data integrity and confidentiality.

6. Compliance: Sage X3 is designed to help businesses comply with various data protection regulations such as GDPR, HIPAA, and SOX. The system provides features to assist with data privacy and compliance reporting.

7. Regular Security Updates: Sage regularly releases security updates and patches to address any vulnerabilities and enhance the overall security of the system. It’s essential to keep the system up-to-date to mitigate security risks.

8. Data Backups and Disaster Recovery: Sage X3 supports regular backups of data, which can be stored securely off-site. Additionally, the system can be configured for disaster recovery to ensure data availability in case of system failures or disasters.

9. Security Audits and Assessments: Sage X3 undergoes regular security audits and assessments to identify and address potential security weaknesses. This ensures that the system meets industry best practices for security.

By implementing these security measures, Sage X3 provides a robust framework for safeguarding sensitive manufacturing data against unauthorised access, breaches, and other security threats.

Sage X3 offers both cloud-based and on-premise deployment options.

With cloud-based deployments, users can choose to host it in a private cloud environment or a private area in a public cloud environment.

Mysoft have the expertise and capability to guide you through the selection process to deploy X3 in the way that is right for your business.   We also work with a number of hosting providers to ensure our customers have options to support domestic and global operations. 

Yes, Sage X3 offers a user-friendly interface which is mobile-friendly, allowing your personnel to work across a number of devices and access up-to-date information as long as they are connected to the internet.

Sage Intacct is known for its rapid deployment capabilities, particularly due to its cloud-native architecture. Businesses can typically implement Intacct within weeks rather than months, allowing for faster access to critical financial data and features. This efficiency is attributed to its pre-configured solutions and user-friendly setup, enabling companies to adapt quickly without extensive IT involvement.

In contrast, Sage X3 often involves a longer implementation timeline. While it offers robust functionality and extensive customisation options suited for larger enterprises, this complexity can lead to a more protracted deployment process. Depending on the organisation’s specific needs, customisation requirements, and existing infrastructure, Sage X3 implementations can take several months to complete. This may involve on-premise installations, which can further extend the timeline.

Ultimately, the choice between the two should consider not just the immediate implementation timeframe but also long-term operational needs and the scale of business processes being addressed.

Sage Intacct is particularly robust in its support for regulatory compliance, making it a suitable choice for financial services firms navigating complex regulations. One of its key features is automated reporting, which helps ensure that organisations can generate necessary documentation swiftly and accurately. This includes financial statements that comply with both local and international standards, such as GAAP (Generally Accepted Accounting Principles) or IFRS (International Financial Reporting Standards).

Moreover, Sage Intacct maintains comprehensive audit trails that provide detailed records of all transactions and changes, facilitating easier audits and compliance checks. The platform’s built-in compliance features also include capabilities for managing intercompany transactions, ensuring that organisations remain compliant with tax regulations and reporting requirements across different jurisdictions.

Additionally, Sage Intacct provides regular updates to its software to accommodate new regulatory changes, which is crucial in a rapidly evolving financial landscape. This adaptability helps organisations mitigate compliance risk and avoid potential penalties associated with regulatory failures.

Sage Intacct Multi offers a streamlined approach for organisations operating across multiple countries or regions by providing robust multi-legislation support. It allows businesses to manage diverse compliance requirements seamlessly, including tax regulations and financial reporting standards. Intacct Multi’s capabilities include automated currency conversions, multi-currency accounting, and real-time reporting tailored to local legislative needs, all of which ensure compliance without the complexity of manual adjustments.

On the other hand, Sage X3 Multi-Legislation provides similar functionality but is more suited for larger enterprises requiring extensive customisation and integration across various operations. While X3 also supports multiple currencies and compliance regulations, its approach may necessitate a more complex configuration to meet the specific legislative needs of various countries. This can result in longer setup times and a steeper learning curve for users compared to Sage Intacct.

Ultimately, the choice between the two should depend on the organisation’s size, operational complexity, and the specific legislative requirements they face across different markets.

The costs associated with Sage Intacct and Sage X3 can vary significantly based on the scale of the organisation and its specific needs. Sage Intacct generally operates on a subscription-based pricing model, which can be advantageous for smaller to mid-sized firms looking for a lower upfront investment. This model allows businesses to predict and manage costs effectively over time, enabling them to scale their financial management capabilities as their needs grow without incurring substantial additional expenses.

In contrast, Sage X3 typically involves a higher initial investment, especially for larger organisations requiring extensive customisation and on-premise infrastructure. The costs may include software licensing fees, implementation services, and ongoing maintenance, which can add up significantly. However, for larger enterprises with complex financial processes, Sage X3 might provide a more comprehensive solution that could justify the initial investment over the long term.

When evaluating the costs, businesses should also consider potential ROI from each system, including improved efficiency, reduced compliance risk, and better decision-making capabilities. Ultimately, the choice should align with the organisation’s budget, growth plans, and specific financial management requirements.

User experience ratings for Sage Intacct tend to be highly favourable, with many users appreciating its intuitive design and user-friendly interface. The cloud-native platform allows for easy navigation and quick access to essential financial data, which is particularly beneficial for financial services professionals who need to make timely decisions based on accurate information. Users often highlight the seamless integration of reporting tools and dashboards that provide real-time insights into financial performance, helping to streamline workflows.

Conversely, while Sage X3 offers extensive functionalities, users sometimes report that its complexity can lead to a steeper learning curve. The system’s comprehensive features may require more training and adjustment time for users, especially those not familiar with enterprise resource planning (ERP) systems. However, once familiar, users can appreciate the depth of functionality that Sage X3 provides, particularly for larger organisations that require intricate customisation and reporting capabilities.

Overall, user experiences can vary based on the organisation’s size, the specific functions they use, and the level of customisation implemented. Companies should consider their team’s familiarity with financial software when choosing between the two platforms.