{"id":632667,"date":"2022-10-10T09:55:21","date_gmt":"2022-10-10T07:55:21","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=632667"},"modified":"2022-10-10T10:09:28","modified_gmt":"2022-10-10T08:09:28","slug":"how-technology-has-driven-retail-capitals-incredible-growth","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/industry-news\/632667\/how-technology-has-driven-retail-capitals-incredible-growth\/","title":{"rendered":"How technology has driven Retail Capital\u2019s incredible growth"},"content":{"rendered":"<p>Retail Capital was founded 10 years ago to support entrepreneurs and small businesses by providing easy access to funding.<\/p>\n<ul>\n<li><strong><a href=\"https:\/\/www.awcape.co.za\/?utm_source=BusinessTech&amp;utm_medium=Article&amp;utm_campaign=October+2022\" target=\"_blank\" rel=\"noopener\"><strong>Click here to learn more about AWCape\u2019s Sage Intacct services.<\/strong><\/a><\/strong><\/li>\n<\/ul>\n<p>Since its inception, Retail Capital has supplied nearly R5.5 billion in funding to its clients.<\/p>\n<p>In the next 12 months, it is expected to pay out up to R3 billion \u2013 which shows how rapidly Retail Capital is growing.<\/p>\n<p>While this growth is great news, it has also brought about a new challenge: Retail Capital\u2019s growth has been so rapid that it has needed to upgrade its existing technology stack to keep up.<\/p>\n<p>While the company\u2019s existing solutions had been effective for many years, it became clear that Retail Capital now needed solutions that were designed to support the needs of an organization of its current and future size.<\/p>\n<p>\u201cIn the last three years we\u2019ve started to hit an inflection point where we realised that the rate of scale and growth in our business was increasing massively,\u201d said Retail Capital CFO Tyler Posthumus.<\/p>\n<p>\u201cWe needed to ensure that we built a platform and a foundation that could support us through that growth.\u201d<\/p>\n<p>\u201cWe needed to ensure that we moved towards a gold standard finance platform &#8211; something that was built using modern-day, cloud-based technology with well documented open APIs.\u201d<\/p>\n<p>Retail Capital, therefore, made finding the right technology solutions a primary focus \u2013 and given its continued success, this was evidently the correct strategy.<\/p>\n<h3 class=\"my-4\"><strong>Importance of automation<\/strong><\/h3>\n<p>One of Retail Capital\u2019s biggest priorities has been implementing automation into its processes \u2013 and this has hugely helped the business to grow at scale.<\/p>\n<p>\u201cIn the last five years since we\u2019ve been trading, we haven\u2019t had to add a single person to our finance team,\u201d said Posthumus.<\/p>\n<p>He explained that this was because 99% of the transactions that Retail Capital performs are completely automated.<\/p>\n<p>\u201cAutomation has been the enabler for our business that has allowed us to handle its high rate of growth,\u201d said Posthumus.<\/p>\n<p>This was particularly important in its financial management software \u2013 and its solution was to use AWCape\u2019s expertise to implement Sage Intacct.<\/p>\n<h3 class=\"my-4\"><strong>Sage Intacct<\/strong><\/h3>\n<p>\u201cWe were their Sage business partner for a long time on their previous system, so we knew their business well,\u201d explained AWCape Managing Director Jeff Ryan.<\/p>\n<p>\u201cThe one thing we loved about Retail Capital is how they looked to the future and to scale their business to manage their capacity before it becomes an issue.\u201d<\/p>\n<p>AWCape recommended that Retail Capital move to Sage Intacct and guided them through this process.<\/p>\n<p>Sage Intacct provided Retail Capital with greater adaptability and even better features than the previous Sage solutions Retail Capital used \u2013 including improved support for key automation processes.<\/p>\n<p>\u201cSage Intacct, which Retail Capital adopted into their finance organisation, is a cloud-native product, and it gave them the capability to start modernising their finance capabilities,\u201d said Gerhard Hartman, Vice President of Sage Africa.<\/p>\n<p>If your business would like to benefit from Sage solutions and AWCape\u2019s insights, <strong><a href=\"https:\/\/www.awcape.co.za\/?utm_source=BusinessTech&amp;utm_medium=Article&amp;utm_campaign=October+2022\" target=\"_blank\" rel=\"noopener\"><strong>click here to contact AWCape.<\/strong><\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Thanks to their partnership with AWCape and Sage, Retail Capital has seen record levels of growth. <\/p>\n","protected":false},"author":57,"featured_media":632671,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10459],"tags":[16162],"class_list":["post-632667","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industry-news","tag-awcape"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/632667","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/57"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=632667"}],"version-history":[{"count":3,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/632667\/revisions"}],"predecessor-version":[{"id":632705,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/632667\/revisions\/632705"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/632671"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=632667"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=632667"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=632667"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}