Spa and skincare brand Skoah created its products by drawing on feedback from actual skincare trainers and coaches. The company’s philosophy is unlike others in the skincare field. The Vancouver-based Skoah provides more skin training than actual product.
The company started in 2002 with five products and today they have more than 60 in their line.
But as the company grew its product line it was challenged internally with scaling up its business to meet the increased demand in the marketplace. The company opened up several spa locations across Canada and from that success wanted to move into the tough U.S. market.
It faced growing pains because the company still used QuickBooks to manage its financial transactions. One of the issues was that QuickBooks was not robust enough to integrate legacy POS transactions. The company did do a manual workaround that cost $12,000, but that process was subject to human error.
Another issue was that Skoah found it difficult to get real time business performance by using Excel spreadsheets.
“The truth is, we were drowning in QuickBooks before we switched to Intacct,” said Chris Scott, president of Skoah.
Enter CDN Top 100 solution provider Baass Business Solutions of Toronto who understood that Skoah had trouble keeping up with a growing business that was working in a hybrid model of product distribution and retail. Baass along with its cloud ERP software vendor partner Intacct prepared Skoah to move into the cloud and have Intacct it’s operating backbone.
By using Intacct, Skoah now can managed a high-degree of complexity, streamline multi-entity and multi-currency financial processes, while gaining new data insights on where and when to expand its business.
Baass did the integration work for Skoah and deployed Intacct’s software for managing inventory, point of sales, and reservations, as well as automate several financial workflows.
Intacct cloud ERP solution also includes accounting, cash management, purchasing, vendor management, financial consolidation, revenue recognition, subscription billing, project accounting, fund accounting, inventory management, and financial reporting applications, all in the cloud.
Baass developed a solution that increased transaction volume for Skoah. Now all daily financial activity is captured in the POS and reservation system and then automatically pushed to the Intacct cloud.
By going to a cloud ERP backbone, Skoah was able to scale its business by two-times its current size and enter key U.S. markets such as Seattle and Boston. They could easily cut out that $12,000 manual workaround. And, at their retail locations are now able to view real-time store-by-store financials.
“We knew that we wanted a cloud-based financial system with true Canadian capabilities and a stellar customer service track record. Intacct was the clear winner over both NetSuite and QuickBooks online, due to its open approach,” Scott added.