CUSTOMER STORY

Private equity firm simplifies multi-entity fund accounting with Gravity

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  • The challenge: Data entry distractions

    • The challenge: Data entry distractions

    Brandon Capital logo

    Brandon Capital invests in innovative healthcare companies developing pharmaceutical drugs, vaccines, medical devices and diagnostic technologies. Its portfolio includes companies advancing treatment for asthma, allergies, cancer, chronic pain and heart disease, among other conditions. The Australian-based private equity firm currently has multiple entities and investment vehicles, with over 35 investment companies in its collective portfolio.

    Amy Perkin, CFO at Brandon Capital was looking to upgrade to a multi-entity accounting solution moving away from its existing singular entity solution Xero online accounting software.

    Data entry was more time-consuming for the team as each entity had to be loaded individually, switching between multiple entities to post similar journals. Creating consolidated financial reports was also a time-consuming process and relied too heavily on exporting data and Excel formulas to produce management and investor financial reports.

    “My team was spending too much time on data entry and Excel queries, which took away their time from more value-added tasks,” Perkin said.

    Reviewing the whole financial IT solution for the firm, she also wanted to merge their investment database with their accounting solution so any investments were automatically linked between ledgers, eliminating any system reconciliation issues and simplifying the month-end process. Other packages that offered an integrated fund and accounting platform with multi-entity features would have cost more than $70k per year.

  • The search for a scalable cloud platform for investor and fund reporting

    • The search for a scalable cloud platform for investor and fund reporting

    Searching for a scalable multi-entity accounting software.

    When Perkin discovered Gravity Software, the ability to easily manage accounting for multiple entities appealed to her immediately.

    “You create one journal that hits multiple companies, and will create all the intercompany journals for you,” she said. “Gravity has a bulk edit function that allows you to change multiple things at one time, which is a huge time-saver.”

    Perkin worked with Gravity’s team to build an investment management ledger where she could keep track of purchases and sales in multiple currencies. She was happy to learn Gravity’s multi-currency and market movement accounting capabilities would automatically convert investments into the home currency and allow monthly revaluations to be completed and posted into the accounting ledger for all investments in all entities in under 30 minutes.  

    The entire process of building the investment management solution and fully deploying Gravity with implementation partners Roback and Bialy took about three months, and the payoff was almost immediate.

  • The result: more efficient, cost-effective, multi-fund accounting

    • The result: more efficient, cost-effective, multi-fund accounting

    Gravity Software reporting icon symbolizing improved productivity, financial reporting, and real-time insights

    Since implementing Gravity Software, Brandon Capital’s accounting team has made significant improvements in their processes. The team used to spend five to six days compiling monthly reports, and they’ve been able to eliminate many manual processes and reduce reporting time to just a few days. They have automated many investment activities, including, calls, purchases, sales and market and currency valuation adjustments.

    Gravity’s cloud accounting software with a subscription-based pricing model is more cost-effective and allows for more predictable budgeting each year. Brandon Capital pays one annual fee that includes data hosting, maintenance, upgrades and support, rather than having to pay for unexpected updates.

    “The appeal of Gravity Software to me was that it had all the functionality and security of a larger ERP with the cost and ease of use of a small accounting system.  Leveraging the Microsoft toolset, it integrates easily with other systems and is easy to use and understand,” said Perkin.

    Over the next year, Perkin plans to make better use of the features and integrations she can use through the Microsoft Power Platform, the foundation for Gravity Software. Automating more manual processes will allow her firm to manage more funds and portfolio companies without needing to significantly increase personnel costs.

    “We’ve grown exponentially in the last two years and we just brought on new government grants, so we’re looking at (investing in) more companies,” she said. “I need my accountants to be accountants, not data entry people.”

    Perkin said her only regret is that she didn’t make the move from Xero to Gravity’s multi-entity accounting software sooner.

    “It takes a lot longer the longer you wait,” she said.

  • About Brandon Capital

    • About Brandon Capital

    Brandon Capital's logo

    Brandon Capital is Australasia's leading life science venture capital firm, with a strong global presence supported by key partnerships and team members across the US and UK. Through collaboration and investment, Brandon Capital has transformed promising medical research breakthroughs into medical therapies that improve patients’ lives. Brandon Capital has supported more than 50 start-up companies to date, the majority of which they founded.

    Industry: Private Equity

    Number of Gravity Users: 4

    Number of Entities: 28

    Previous Accounting Solution: Xero Accounting Software

    Key results:

    1

    Key integrations

    The team benefits from Investment Ledger and Financial Accounts integrated into their accounting system.

    2

    Cross-system synergies

    Eliminated data reconciliations between systems and manual reports.

    3

    Efficient automations

    Purchases, sales, market and currency adjustments are easily automated in workflows within Gravity, saving the team significant time.

    4

    Currency conversions made easy

    Converting currency for investments is a breeze with Gravity's multi-currency feature.

    5

    Unprecedented reporting capabilities

    Insights are faster and more meaningful than ever with Gravity's multi-dimensional reporting.

    6

    Ready to simplify multi-entity accounting?

    See how Gravity Software can help your team save time, improve accuracy, and unify financial management.

    Watch the 7-minute demo video.

  • The CFO's perspective: Time saved, value added

    • The CFO's perspective: Time saved, value added

    Amy Perkin, CFO, Brandon Capital

    As CFO, Amy Perkin manages budgeting, forecasting, reporting, and ensuring the financial health of Brandon Capital. After previously struggling with time-consuming data entry, Amy welcomes the efficiency of Gravity Software in her day-to-day tasks. 

    “Gravity has a bulk edit function that allows you to change multiple things at one time, which is a huge time-saver.”

    Amy Perkin, CFO, Brandon Capital

    Download the Case Study
  • Explore more resources

    • Explore more resources

    Gravity Software's multi-entity capabilities for hospitality accounting.

    Brandon Capital’s story shows that an expanding organization with multiple entities must be built on a solid, scalable accounting framework. Not just any accounting software can keep up with a growing company, and the right tools make all the difference.  

    Take a look at our insights and product features to learn how investment firms can benefit from Gravity's cloud-based accounting solution.

    Private Equity
    Learn how to streamline investment management and accounting for private equity firms with Gravity Software's multi-entity platform.
    Multi-Entity Accounting Guide
    Discover how private equity firms simplify multi-entity accounting, consolidate reporting, and gain real-time insights.
    Inventory Tracking
    Read how Gravity's multi-entity platform connects inventory directly to financials for real-time visibility.
    AI Accounting
    Learn how AI accounting solutions help CFOs streamline AP, automate reconciliations, and gain real-time insights with Gravity's multi-entity platform.
    Real Estate Investment Accounting
    Manage multiple funds, consolidate reporting, and gain transparency for investors across all entities with Gravity Software.
    Boutique Hotels Financial Management
    Uncover how boutique hotel groups simplify multi-location financial management with Gravity.
    7-minute demo highlights
    See how Gravity Software streamlines multi-entity accounting, automates intercompany transactions, and gives private equity teams real-time financial visibility.

    Multi-entity accounting just got easier with Gravity Software

    After Brandon Capital implemented Gravity Software's cloud-based, multi-entity accounting solution, they gained efficiency and a cost-effective alternative to multi-fund accounting.

    If your business has outgrown its entry-level accounting software or is stuck with manual processes, Gravity Software is the solution for you. Schedule a demo today to learn how our solution can boost efficiencies for your finance team.

     
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