The bidorbuy group relies on Sage Evolution to keep up with the hundreds of thousands of transactions that take place on its websites across Africa every day. The company implemented Sage Evolution to gain a holistic view of its business, handle a heavy transaction load, and allow for easy management of multiple accounts, users and currencies.
With over 1 million shoppers a month, bidorbuy.co.za is South Africa’s busiest online marketplace and provides a secure platform for buyers and sellers to trade in new and used goods. On the bidorbuy website alone, there are about 650 000 items for sale at any time. This means a constant stream of electronic fund transfers to manage.
The bidorbuy group, the holding company of several web services, not only needs to keep track of all its online transactions but has to be able to track the financial situation of the entire group. This requires an accounting system that packs a punch.
The group had been using Sage Pastel for years, says Marina Goodson, Financial Manager of bidorbuy. “We were very happy with our Sage Pastel products but with the rapid growth of website traffic and recent expansion into Africa, we needed something more scalable than the package we were using,” she adds. Sage Evolution was the perfect fit because of its scalability and cost effectiveness.
After implementing Sage Evolution, the bidorbuy group can now access the financial statements of any one of its seven companies, locally and on the continent, at the click of a button. What’s more, Sage Evolution facilitates the easy interaction between buyers and sellers on group websites.
When a buyer wants to purchase an item online, the seller needs to receive the funds instantaneously. In order to transfer funds as quickly as possible bidorbuy has set up multiple bank accounts and has thousands of transactions taking place across these various accounts daily, all tracked and captured by Sage Evolution.
“Sage Evolution effectively manages the transmission of all our users’ funds. As the buyer transfers money into one of our accounts, the program instantly alerts us and we can then release those funds into the seller’s account. Sage Evolution will automatically record each purchase in our books,” says Goodson.
Sage Evolution’s multi-currency service, which automatically converts different currencies to a common one, has eased the group’s expansion into Africa. “With our rapid growth and large volume of transactions conducted via a high traffic website, Sage Evolution has been a lifesaver,” says Goodson.