Advent LS Services – Cost optimisation and scalability with operational Efficiency Through Sage 200 Standard ERP Implementation.
Advent LS Services Limited is a UK-registered corporate entity tied to Advent Life Sciences, a major trans-Atlantic venture capital firm, with a highly experienced team of professionals with a long-standing track record of entrepreneurial and investment success. The firm invests in and helps build innovative life sciences, biotechnology, and drug discovery businesses across the UK, Europe, and the US; the businesses turn breakthrough science into approved medicines or medical products.
The company operates alongside related entities such as Advent Life Sciences LLP, specialising in management, human resources, and professional services required to support venture investments and the Advent Life Sciences Team. Advent’s investments are focused on new drug discovery across all modalities, med tech, enabling technologies and vaccines.
Business Challenges.
While the group companies’ operations are fairly simple, involving financial transactions and intercompany accounts, IT system cost optimisation and value for money were extremely important to the business, including system flexibility and improved business efficiency. At the same time, a cloud-based system that delivers financial reports out-of-the-box, without requiring on-premise server infrastructure, was a must-have requirement.
Aligning with management's vision, it is important that, as the business grows and more companies and user licenses may need to be added in the future, the system can scale to support that growth.
ACS-APT Solutions:
After Advent and ACS-APT agreed to work together, ACS-APT studied and analysed the challenges the client faced. This helped us identify the most appropriate cloud-based Accounting and Finance system on the market: Sage 200 Standard. Because the system's user interface is simple and intuitive, requiring minimal user training, it was much easier to use and helped keep business disruption to a minimum. The software and user license annual subscription cost was negligible compared to what the business was used to pay for the old system. The system also delivers the required management reports out of the box, with the flexibility to add as many companies and user licenses as the business will require in the future. Thus, making the system future-proof and scalable for business growth.
The new fully cloud-based Sage 200 Standard ERP system, once implemented, immediately began delivering the expected results, with cost savings and added efficiency.
The key features and benefits -
Fully cloud-based system with the required management reports delivered out-of-the-box
Cost savings with reduced annual subscription license fees
Smooth data migration from the old system to the new system
Centralised ERP Platform with over 99% uptime.
Enhanced business efficiency
Scalable for future business growth
Resilient and scalable system and infrastructure for growth and operational cost optimisation
Conclusion.
Through this partnership, Advent migrated from their old system to the Sage 200 Standard ERP system, achieving their immediate and long-term goals. At the same time, having a market-leading system to deliver the business expectations, including supporting future growth and expansion plans