A recently released case study by Microsoft Corp. highlights Perennial Softwareâ€™s role in helping Peak Alarm Company Inc. streamline its financial recording and analysis processes.
The case study details a partnership between Microsoft Business Solutionsâ€™ FRx Software, a comprehensive suite of financial analytic applications, and Sedona Office, Perennialâ€™s all-encompassing financial accounting, business management and client relationship management software package designed specifically for the security industry.
The main problem for Salt Lake City-based Peak Alarm was its use of two separate systems â€“ one for accounting and one for monitoring its nearly 10,000 commercial and residential alarm systems throughout Utah and Idaho.
These two databases were not linked, leaving Peak Alarm with no choice but to create journal entries and re-key data and unable to close its monthly financial books before the 22nd of the next month. That left little time for management to evaluate and identify ways the company could save money. â€œIt also left little time for the financial staff to prepare for the next monthâ€™s statements,â€ said Garth Wheeler, Peak Alarmâ€™s controller.
The Microsoft case study closely examines how, using Sedona Office and the appropriate report formats from FRx Software, Peak Alarm was able to link the two databases and cut 10 days off the time it takes to close the monthly books and generate reports.
The companyâ€™s monthly budget reports are now created almost automatically. This gives Wheeler time to act on a more strategic level with time to make recommendations, comment on the companyâ€™s financial picture and brainstorm ideas that can help managers do their jobs better.
Today, Peak Alarm uses Sedona Office and Microsoft FRx to create monthly, up-to-date income statements, balance sheets and ratio analysis reports. These financial reports give the management team at Peak Alarm the ability to examine the companiesâ€™ performance and operating ratios as each month closes, so they can be proactive in managing the business.
The Microsoft case study is available on the Perennial Software web site (www.sedonaoffice.com) or it may be downloaded at http://www.sedonaoffice.com/pdf/FRx-CS-PeakAlarmSED-OUT.pdf.