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Mauritius taking global wealth markets by storm, Sage Intacct taking Mauritius by storm


Johannesburg, 17 Jun 2025
Netesh Maharajh, Director at ALNET Technologies. (Image: ALNET Technologies)
Netesh Maharajh, Director at ALNET Technologies. (Image: ALNET Technologies)

According to Bloomberg, Mauritius is emerging as one of the world's fastest-growing wealth markets, with its millionaire population projected to double by 2033.

The IMF notes Mauritius has one of the more sophisticated financial systems in Africa, a system that is soundly capitalised and profitable, with assets of the banking system said to represent about 100% of GDP. While the financial sector was already relatively well developed at independence, the robust economic performance over the last two decades strongly contributed to its further expansion. “With such an impressive economic growth backdrop, it is no wonder that financial organisations choose to either base themselves in Mauritius or operate from the island to expand their reach into EMEA territories,” says Netesh Maharajh, Director, ALNET Technologies.

One such entity – a leading Black-owned specialist alternative investment manager –  provides pension funds and institutional investors with access to markets and strategies that create sustainable impact and deliver strong risk-adjusted returns across market cycles. “This financial organisation operates with a profound sense of responsibility that guides how it manages fund investments with the goal of ensuring decisions benefit not only investors but also portfolio companies and the community at large. It facilitates growth with impact that leads to extraordinary outcomes intertwining this with its deep code of fiduciary responsibility and investment expertise. In 2024, this company embraced the financial power of Sage Intacct through ALNET Technologies. In doing this, it achieved a 70% efficiency rate across 48 entities during its monthly close,” he says.

Maharajh says the enterprise had previously relied on legacy accounting applications that did not meet the functionality and scalability needs associated with managing complex accounting across multiple business facets in numerous entities. “At that time, the company utilised Excel-based spreadsheets to compile departmental expenses because its legacy system could not provide the allocation rules required for processing and reporting. Daily and weekly shared expense allocations across the business and entities were manual, time-consuming and monotonous tasks due to their inability to process inter-company transactions and lack of multi-entity capabilities. Financial controllers had to log in and out of separate companies in its legacy accounting application to manage and process transactions, resulting in a tedious and time-consuming exercise.”

After evaluating other industry bespoke solutions, this organisation selected Sage Intacct for its financial management entities. “Sage Intacct’s capabilities for automated rule-based expense allocations across all cost centres in the business proved highly attractive to the business. Multi-entity financial management, automated inter-company journal entries, dimensions for the general ledger and customised reporting and dashboards all contributed to the selection of this globally leading financial solution,” says Maharajh.

Seventy percent time saving

“With Sage Intacct, this company’s finance team reduced the time needed for closing the books by an impressive 70%. This encompassed everything from manual and tedious expense allocations in Excel to bank reconciliations, inter-company journal entries and accruing for liabilities and provisions required for the month,” he adds.

Maharajh further confirmed more time and insights for informed decision-making allowed efficiency gains that were extremely important as new investment portfolios and projects grew significantly. “As a result of these time savings, new opportunities emerged to use Sage Intacct to track key metrics such as liquidity and expense ratios, cashflows and growth, enabling them to drill down and analyse processed financial data for informed decisions on investment portfolios.”

Maharajh confirms the implementation of Sage Intacct has resulted in this business acquiring a clear picture of its cash-on-hand trends and working capital, enabling data-driven decisions based on real-time information flowing into its dashboards and reports. “Key performance indicators on the dashboard scorecards highlight areas that need attention for quick decision-making processes. They were extremely excited about being able to customise dashboards and reports themselves, which meant content could be added or deleted with just a few clicks using drag-and-drop functionality. Moreover, Sage Intacct's Procurement dashboard facilitates the viewing of budget to actuals, analyses costs and oversees the entire procure-to-pay process. Increased efficiencies in vendor onboarding and price evaluation supports price negotiation and helps to maintain full compliance with the supply chain.”

Automation – the key to organisational growth

The list of benefits to this financial institution range from the automation of: accounts receivables plus payable; invoicing process definitions; paperless workflows; seamless vendor payments; and bank reconciliations. “Board reporting frequency went from quarterly to monthly, there was a significant reduction of audit risks by deployment of auditor dashboards with drill-down transaction details and audit trails.

“Sage Intacct provides consolidated views across a company’s entities with drill-down capabilities, enabling easy vendor spend evaluation across entities. Beyond efficiency, increased visibility into spending with a cloud system can benefit the bottom line,” he says.

PwC Mauritius notes the island state has over the years emerged and positioned itself as a reputable and resilient international financial centre. Economic growth in different sectors, including the financial services sector, has been spearheaded by the bold fiscal measures. Financial organisations already operating in Mauritius or seeking it as their spearhead in EMEA territories would do well to explore the business benefits Sage Intacct can offer their organisations as exemplified by the success of this implementation,” concludes Maharajh.

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* Article first published on: www.itweb.co.za

ALNET Technologies (Pty) Ltd

ALNET Technologies (Pty) Ltd is a Sage Platinum Business Partner and a provider of the complete suite of Sage Evolution ERP, Sage Intacct, CRM, Payroll and Cloud Solutions.

We add value to medium and enterprise customers’ business performance by developing solutions; enhancing processes and enabling technologies that deliver global service levels. We operate across a range of mission critical business arenas within our clients’ organisations throughout the African continent.

Our Services include:

  • Sage Intacct, 200 Evolution ERP, CRM and Payroll Solutions
  • Sage Implementations and Consulting
  • Dedicated Helpdesk Support
  • Cloud Server Hosting & Support
  • Cleeks Online Backup & Cyber Security Solutions

For further information log onto: http://www.alnettechnologies.com

Editorial contacts
Info(011) 234 3710info@alnettechnologies.com

Deirdre Blain(+27) 83 230 5522D@blaincomms.co.za
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