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Corporate acquisition: how Agasus used Accountfy in consolidation and optimization of results.

Karolina Reis, controllership manager at Agasus, talks about her main challenges during operations to acquire and consolidate economic groups.

About Agasus

Even with the declining market trend during the pandemic, Agasus doubled its size, both regarding employees as well as sales, driven by the home office model adopted by the companies. With main office in São Paulo, Agasus serves clients all over Brazil providing short and long-term leasing modalities for IT equipment, especially desktops, notebooks, tablets, and smartphones, considered as major full outsourcing company of hardware and sales of semi-new equipment on the Brazilian market since the year 2000.

In its business portfolio, Agasus has over 110 thousand leased assets, such as notebooks, desktops, smartphones, and tablets. Presently in a phase of expansion, the company counts with ISO 9001 and ISO 14001, SAP system, Big Four annual audit and corporate governance certifications.

 

Corporate acquisitions amid the pandemic

According to PwC, in Brazil, from January to November 2020 a record number of fusions and acquisitions occurred. Reasons for this increase were the accelerated recovery of the economy and opportunities for companies taking advantage of the prevailing market scenario, such as the case of Agasus.

Presently, Agasus has two registered corporate numbers: its own and the one obtained through acquisition of JRI Informatics, a semi-new equipment resale company. This acquisition increased its business synergy, while also promoting circular economy. However, the challenges of this type of operation are multiple and Accountfy helped to centralize and consolidate financial data of both companies.

Accounting and controllership procedures differ from company to company, and in an acquisition, the main challenge is to align and standardize different processes and financial data.

Despite the diverse accounting systems, Agasus managed to centralize information at Accountfy. Karolina Reis, controllership manager at Agasus, tells how her routine became much easier by using a platform that, by uploading accounting data, is capable to show filtered information from each company as well as to consolidate them, besides carrying out deletions, management adjustments and definition of the equity equivalence.

“The company we bought in 2020 is already 100% implemented with Accountfy, and even with a different ERP (Enterprise Resource Planning) we were able to consolidate the data based on the ledgers as well as to define equity equivalence.”
Karolina Reis – Controllership manager at Agasus

Entailed by company growth, another concern was regarding employees’ learning curve to fully utilize the Accountfy potential, which Karolina says was very fast, since the platform was created for use by financial teams and with the main difficulties being adjustments required for corporate aligning.

 

Transparency with shareholders

In 2019, Agasus was acquired by an investment fund, that prepared the company for the growth in the next year. And to maintain good investor relations, all presentations of results already occur on the Accountfy platform, beginning with assembly of the book until control of access to the platform by directors and shareholders, simplifying the processes that used to be stressing and required much paperwork.

Due to the recurrent changes of the economic and financial prospects, another functionality the company utilizes is the creation of different budgetary scenarios, in which they are free to create trial revisions by applying different indicators.

Agasus is convinced that the home office modality will persist to continue to invest in improvement of its services. This requires a robust financial structure and Accountfy with follow up on its growth, supplying the best analyses of its results.

“Reports improved much with Accountfy. It’s not just another closed result; now directors and shareholders are able to discuss with much better background information.”
Karolina Reis – Controllership manager at Agasus

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