Deep Sea Electronics Ltd Dives into Efficiency

Seamlessly Consolidating with FastClose on Epicor

Deep Sea Electronics Ltd (DSE) is one of the world’s top manufacturers of generator controllers, auto transfer switch controllers, battery chargers, and vehicle & off-highway controllers and has implemented FastClose for its management consolidation and operational reporting needs.

Andrew Clements, ERP Director at DSE, explains the partnership:

“

We adopted FastClose some time ago to replace our spreadsheet reporting tool. It has since become our primary tool for developing all of our financial reporting. We’ve been adding more users every year, using the design client to build reports and analyze data, and the Excel add-in to run live FastClose reports directly in Excel.

We have a consolidation requirement across three different currencies, and we were pleasantly surprised by how FastClose could streamline this process. Before implementing FastClose, our consolidation efforts took several days due to the complexity of handling multiple currencies and the manual adjustments required. With FastClose, we were able to automate much of the process, reducing the time needed for consolidation from days to just minutes. This efficiency has not only saved us valuable time but also improved the accuracy and reliability of our financial reports.

Andrew Clements

ERP Director, Deep Sea Electronics

Danny Graham, FastClose Customer Support Director, elaborates:

“

Many companies with consolidation requirements often rush to buy specialized point solutions that are expensive, time-consuming to set up and have ongoing costs. With Epicor and FastClose, we can handle all currency conversions, calculate the exchange gain or loss on translation, and feed it back automatically into the balance sheet produced by FastClose.

Danny Graham

Customer Services Director, FastClose

Graham Lonsdale, DSE Management Accountant, adds:

“

Once we set up all the translations, we had to manage eliminations and translate certain nominal accounts at a specific fixed exchange rate. FastClose handled this efficiently, and we then set up the budgets translated at a fixed rate for the year. Now, everything is automated. We simply run the FastClose reports without any complex Excel manipulation. We are extremely pleased with the results.

Graham Lonsdale

Management Accountant, Deep Sea Electronics

Andrew concludes, “Throughout our use of FastClose, the key thing I have noticed is the level of support that FastClose offers, both technically and functionally. This support has been invaluable during DSE’s growth over the last five years as our demands from FastClose have increased, with consolidation being a perfect example of this.”

FastClose Reporting, Planning and Corporate ERP solutions for Epicor Public Cloud can be setup and configured in as little as 15 minutes. For more information or to schedule a demo:

Founded in 1975 in Humanby, North Yorkshire in the United Kingdom, Deep Sea Electronics has offices across four continents and is one of the world’s top manufacturers of generator controllers, auto transfer switch controllers, battery chargers and vehicle & off-highway controllers, For more information, visit https://www.deepseaelectronics.com/

FastClose is a cutting-edge corporate performance management solution that empowers organizations to streamline financial reporting, data analysis, and dashboard creation. FastClose seamlessly integrates with popular BI tools like Power BI, allowing end-users to harness the full potential of their data.

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