About Consort
Founded in 1999, Consort Technical Underwriting Managers (Pty) Limited has established itself as one of South Africa’s leading Construction and Engineering Insurance underwriters. Backed by over 200 years of collective experience and supported by some of the world’s largest S&P A-Rated reinsurers, Consort has built a reputation for reliability, honesty, and fairness. Their tailor-made solutions and client-first approach have cemented their position as a trusted partner to the construction and engineering industry, both locally and internationally.
The Challenge
As Consort grew, so did the complexity of its financial environment:
- Limited integration across multiple entities created reconciliation challenges and inefficiencies.
- Onboarding new companies into their expanding portfolio further strained their ability to consolidate reporting into one cohesive system.
- Manual financial processes, from account management to transaction posting, consumed valuable time and increased the risk of human error.
- Generating invoices, quotes, and consolidated reports was time-consuming and often led to delayed decision-making.
To maintain their industry leadership and reputation for service excellence, Consort needed a future-proof financial system that could scale with their growth, simplify multi-entity management, and provide accurate, real-time insights.
The Solution
Consort partnered with CoreSync, a subsidiary of the Signature Group of Companies, to implement Sage Intacct. The deployment focused on four key areas:
- Seamless Multi-Entity Integration
Intacct’s multi-entity functionality eliminated reconciliation headaches by automatically mirroring transactions between entities, for example, invoices raised in one entity were immediately reflected in another. - Real-Time Financial Visibility
Direct bank feeds delivered live transactional data, while Intacct’s intelligent rules streamlined posting and reconciliations, reducing delays and improving accuracy. - AI-Driven Automation
The invoice import tool, powered by machine learning, adapted to user behaviour, drastically reducing the time and effort required to process supplier invoices. - Smarter Reporting Structures
With dimensions and statistical accounts, Consort classified transactions more effectively, consolidated accounts with ease, and integrated directly with their insurance accounting system for faster, consolidated reporting.
The Results
The transformation was immediate and measurable:
- Integrated Entities, Zero Reconciliation Gaps
Transactions now flow seamlessly across entities, eliminating manual reconciliations and reducing risk. - Faster Processes, Greater Efficiency
Automated invoicing, quoting, and transaction posting freed up the finance team’s time, allowing them to focus on strategic activities. - Real-Time Oversight
Live bank feeds and automated recognition rules enhanced visibility, enabling faster, more informed decisions. - Smarter, Error-Free Accounting
AI-driven invoice processing reduced manual input, minimised errors, and improved consistency across the portfolio. - Consolidated, Accurate Reporting
With Intacct’s robust reporting structures and integration with their insurance accounting system, Consort can now deliver consolidated monthly reports quickly and confidently.
Client Quote
“With Sage Intacct and CoreSync, we’ve eliminated the inefficiencies that were slowing us down. Our finance team now has the visibility, accuracy, and automation needed to support our growth across multiple entities. It has transformed the way we operate and given us confidence in every number we report.”
— Graham Charlton, Financial Director, Consort Technical Underwriting Managers
Watch the video of our discussion with Graham from Consort here.