In the ever-evolving landscape of enterprise resource planning (ERP) solutions, businesses are constantly evaluating which software can best meet their needs. Two prominent contenders in the market are Sage Intacct and NetSuite. While both platforms offer robust features, many organisations find Sage Intacct to be the superior choice. Here are the top reasons businesses are choosing Sage Intacct over NetSuite:

1. Superior Financial Management

Sage Intacct is renowned for its exceptional financial management capabilities. Designed specifically with finance teams in mind, Sage Intacct provides deep accounting functionality that surpasses what NetSuite offers. Features such as real-time financial consolidation, advanced revenue recognition, and comprehensive multi-entity management make Sage Intacct a powerful tool for CFOs and finance departments looking to streamline their operations and gain greater financial insights.

2. User-Friendly Interface

Ease of use is a critical factor for any ERP system. Sage Intacct excels in this area with a user-friendly interface that simplifies complex financial processes. Its intuitive design allows users to navigate the system effortlessly, reducing the learning curve and increasing productivity. In contrast, NetSuite can be more cumbersome and less intuitive, often requiring extensive training and customisation to achieve a similar level of usability.

3. Customisable Dashboards and Reporting

Sage Intacct offers highly customisable dashboards and reporting tools, enabling businesses to tailor their financial data visualization to meet their specific needs. These dynamic dashboards provide real-time insights into key performance indicators (KPIs) and other critical metrics, empowering businesses to make informed decisions quickly. NetSuite also offers customisation, but many users find Sage Intacct’s reporting capabilities to be more flexible and easier to use.

4. Cost-Effectiveness

When it comes to pricing, Sage Intacct often proves to be more cost-effective than NetSuite. Sage Intacct’s modular pricing structure allows businesses to pay only for the features they need, providing greater control over costs. This scalability is particularly beneficial for growing companies that need to manage expenses carefully. On the other hand, NetSuite’s pricing can be more rigid and potentially more expensive, especially for smaller organisations or those with specific budget constraints.

5. Seamless Integration Capabilities

Sage Intacct is designed to integrate seamlessly with a wide array of third-party applications, making it easier for businesses to create a comprehensive and interconnected system. Whether it’s CRM, payroll, or other specialised software, Sage Intacct’s open API and numerous pre-built integrations facilitate smooth data flow across platforms. While NetSuite also offers integrations, Sage Intacct’s reputation for seamless connectivity gives it an edge in this area.

6. Scalability for Growing Businesses

As businesses expand, their ERP needs evolve. Sage Intacct is known for its scalability, allowing companies to easily add new entities, currencies, and users without significant disruptions. This makes it an ideal choice for rapidly growing organisations that need a flexible and adaptable solution. NetSuite, while scalable, can sometimes require more extensive customisation and reconfiguration to accommodate growth, potentially leading to increased costs and complexity.

7. Strong Customer Support

Customer support is a crucial consideration when selecting an ERP system. Sage Intacct is praised for its strong customer support and dedication to client success. The company’s commitment to providing timely and effective assistance ensures that businesses can resolve issues quickly and maintain smooth operations. In contrast, NetSuite has received mixed reviews regarding its customer support, with some users reporting longer response times and less satisfactory resolutions.

8. Industry-Specific Solutions

Sage Intacct offers tailored solutions for various industries, including nonprofit, healthcare, financial services, and more. These industry-specific features and configurations help businesses meet their unique regulatory requirements and operational challenges. While NetSuite also serves multiple industries, Sage Intacct’s focus on delivering targeted solutions often translates to more relevant and effective functionality for specific sectors.

In conclusion

Both Sage Intacct and NetSuite offer robust ERP solutions, but Sage Intacct’s superior financial management capabilities, user-friendly interface, customisable reporting, cost-effectiveness, seamless integration, scalability, strong customer support, and industry-specific solutions make it a preferred choice for many businesses. By carefully evaluating their specific needs and priorities, organisations can make an informed decision that best supports their long-term growth and success.

 

You can also read the guide 10 Ways a Free NetSuite Implementation Can Cost You:

10 Ways a Free NetSuite Implementation Can Cost You

This past weekend, the directors laced up their hiking boots, braved the unpredictable British weather, and set out on an unforgettable journey along the Thames Path. The mission? To complete the Thames Mighty Hike and raise vital funds for Macmillan Cancer Support. It was an adventure filled with camaraderie, determination, and a shared commitment to supporting those affected by cancer.

A Journey with a Purpose

The Thames Mighty Hike is no ordinary stroll in the park. Stretching over 26 miles, this challenging hike took, Jaco, Tanya, Nick and Kelly through some of the most scenic and historic landscapes along the River Thames. From the bustling heart of London to the tranquil beauty of the countryside, our team experienced the diverse charms of this iconic river.

But this hike was about much more than the stunning views and physical challenge. Each step they took was dedicated to the countless individuals and families battling cancer. Macmillan Cancer Support provides essential services, from medical care to emotional support, helping patients navigate one of the toughest journeys of their lives. By participating in the Thames Mighty Hike, they aimed to contribute to this incredible cause by raising much needed funds for the charity.

The Team Spirit

Our directors continue to support this annual event in various locations around the country. Despite varying levels of hiking experience and fitness, everyone shared a common goal and an unwavering spirit of support and encouragement.

From the early morning start, the air buzzed with excitement and a touch of nervousness. As the team set off, the initial miles were filled with laughter, lively conversations, and the occasional selfie, this shifted a little, to self-help as they shared plasters!

Overcoming Challenges

As the day progressed, the hike tested their endurance and resolve. Blisters, sore muscles, and the unpredictable elements – from sudden showers to cloud, bursts of sunshine, then back to cloud – added to the challenge.

One of the most memorable moments for the team was passing the halfway point. It was a significant milestone that brought a renewed sense of determination. They paused to take in the surroundings, share some heartfelt words of encouragement (from a lively South African), and some high-calorie snacks. The collective motivation to support Macmillan Cancer Support was a powerful driving force.

Thank you for all the support

We wanted to thank all of you who supported us through the just giving page in helping us raise over £3,000 for Macmillan Mighty Hike.

Switching from Netsuite to Sage Intacct

It’s a question on the minds of many organisations looking to automate financial management, improve visibility, and scale operations: Which would be better for our business, Oracle NetSuite or Sage Intacct?

To help answer that question, here are three finance leaders whose organisations are thriving with Sage Intacct — after switching from NetSuite implementations that fell short of expectations and didn’t meet their needs around three common areas.

  • Integrations causing delays to their close
  • Having to do Reporting out of spreadsheets
  • Automating quote-to-cash to increase cash-flow

Hear first-hand accounts from finance leaders of these businesses:

BFA Global a consulting firm that delivers innovative financial and digital solutions to improve the wellbeing and resilience of underserved people in developing nations around the world.

BIG Language Solutions a fast-growing global provider of secure translation, interpretation, and related language software and services important in legal, marketing, and financial use cases for its corporate customers.

Aptitude Health a global leader in evidence-based software and solutions for life science companies seeking to identify, develop, and commercialise oncology and hematology therapies that improve patient outcomes.

BFA Global Moves to 80% Strategic Focus

Founded in 2006 with dual headquarters in Boston and Kenya, BFA Global has 80 full-time employees and up to 50 specialty consultants working on projects around the world. As a project-based business that depends heavily on data, it’s critical for BFA to track financials at the project level.

“While we could get some information by project, we weren’t able to produce project P&Ls with NetSuite,” says Lyn Braz, CFO. “The system wasn’t set up right, so it was a very manual process and took a long time to get basic financial statements — and we were paying a lot of money for it.”

Finding that NetSuite provided “the equivalent of the functionality of QuickBooks,” BFA Global struggled with delays and manual data work. Project managers diverted time from BFA Global’s core mission to set up projects and cobble together their own P&Ls statements. Invoices were late, and financial reporting could take six weeks.

Switching from NetSuite to Sage Intacct, BFA is now more efficient and collaborative in managing its financials, and delivering tech that benefits people in areas including Africa, Asia, and Latin America. BFA has:

  • Transformed from 80% tactical, manual work to 80% strategic, data-driven work
  • Improved consultant utilisation by 10%
  • Reduced days sales outstanding (DSO) by 40%
  • Increased operational cash flow by 40%
  • Cut financial reporting 88% from six weeks to five days
  • Reduced accounting software costs by 50%

Sage Intacct dashboards now provide leaders and project managers with timely information that used to be manually assembled over days.

“Our project managers and consultants use Sage Intacct project dashboards to get information and drill into details,” Braz says. “Before they had to do project profitability P&Ls by themselves — they don’t have to spend time doing that anymore.”

BFA Global is saving more time by automating workflows such as invoicing and revenue recognition, and seamlessly managing multiple currencies and global entities. The company is now more data-driven, with a workforce empowered to focus on its mission.

“One of Sage Intacct’s philosophies is ‘customer for life,’ and they really focus on customer service,” Braz says. “We’re really thrilled that we switched. Sage Intacct is a great partner, and they really walk their talk about being a ‘customer for life.’”

Blog - BFA

BIG Language Repurposes 10 FTEs with Automation

Based in Atlanta with 26 global locations and 300 employees, BIG Language faced issues linking its NetSuite accounting platform to a proprietary ERP system that handles mission-critical processes, as well as systems of companies BIG Language acquired.

That created inefficiencies in financial management, extensive manual data work, and obstacles to BIG Language’s “buy and build” M&A growth strategy. BIG Language found itself looking at a costly and disruptive NetSuite reimplementation to meet its complex multi-entity business needs.

With your competitors, “we didn’t get the white glove service,” as CFO Dave Perlman explains. “It felt like our problems were too small to be meaningful. We were really looking for a solution that delivered efficiency from a cost-saving standpoint and allowed seamless API integration for all our entities.”

Evaluating its options, BIG Language was impressed by Sage Intacct’s commitment to helping the company achieve its goals.

“It became clear that we were only getting the ‘white glove service’ from the Sage Intacct team,” Perlman says. “Now we’re more than a year in with Sage Intacct, and I can say we’re happy and it works. We’re supported by a global Sage Intacct team, and whenever we reach out, we get an instant response.”

With Sage Intacct, BIG Language has:

  • Dramatically improved efficiency in global financial management
  • Repurposed 10 full-time employees from manual data work to more strategic initiatives
  • Readily folded new entities into a standardised global model via the Sage Intacct API
  • Scaled globally in line with its aggressive M&A activity

“Sage Intacct was the best solution for us to scale globally,” Perlman says. “There’s real ROI we’ve seen from the efficiency of connecting out proprietary tech with the Sage Intacct API.”

Blog - BIG

Aptitude Health Improves Its Gross Margin 20%

With offices in Atlanta and the Netherlands and more than 60 life sciences partners, Aptitude Health needed flexibility, visibility, and automation in global multi-entity financial management involving multiple projects at any given time.

But with NetSuite, Aptitude Health’s accounting team struggled with extensive manual work that slowed processes didn’t deliver the insights the decade-old business needed. Tracking utilisation and project profitability, compliance with accounting regulations, and difficulties with foreign currency conversions complicated the issues.

“I spent a lot of time pulling data out of the system and organising it,” says Jenecia Stokes, director of finance. “I had to attempt to be a SQL expert, navigating a lot of technical aspects, to improve financials and do our reports.”

As a result, the monthly close could take three weeks, while slow invoicing throttled cash flow. That all changed when Aptitude Health switched from NetSuite to Sage Intacct.

“Now with Sage Intacct, everything comes out by entity; and we have consolidated reports with automated conversion from Euros to USD,” Stokes says. “That was the most important thing for us, the consolidation. We’re able to provide the reports to management to make key decisions.”

With timely and accurate reporting across projects and entities, and breakthrough insights into utilisation, Aptitude Health has improved its profitability through data-driven decisions. The 80-person company has:

  • Improved gross margin by 20% via reporting insights
  • Reduced monthly close time 52%, from 21 to 10 days
  • Cut invoicing time by 80%
  • Accelerated reporting time from days to minutes
  • Automated multi-entity consolidation and currency conversions
  • Decreased DSO by 50% with fast, accurate invoicing
  • Strengthened ASC 606 compliance

Aptitude Health’s switch to Sage Intacct has elevated finance into strategic partner with the business, while Stokes and her team have newfound time to focus on higher value initiatives instead of manual work.

“We get our financials out on time and have better reporting, so we’re able to focus more on really detailed information,” Stokes says. “I can focus on different initiatives within the team because we did a major improvement with Sage Intacct, and we have better work/life balance at the same time.”

Blog - Aptitude

To learn more, you can view our Sage Intacct Coffee Break Demo here.

 

Read more information here about why Sage Intacct is a better choice:

 

You can also read the guide 10 Ways a Free NetSuite Implementation Can Cost You:

10 Ways a Free NetSuite Implementation Can Cost You

Sage Intacct offers manufacturers a modern accounting software that is built in the cloud. It has innovative features such as multidimensional reporting and AI-powered general ledgers (GL). The new Sage Distribution and Manufacturing Operations integration will allow you to integrate your financial management and all supply chain operations, from inventory tracking to scheduling production.

This combined ecosystem of solutions will give you complete operational automation and visibility. Your team can reduce the time and cost it takes to accomplish each task by consolidating your processes into combined software applications.

Sage Intacct and SDMO are the future of manufacturing operations management.

Sage Intacct – Comprehensive Accounting Software Ecosystem

ERP systems and other accounting software can provide you with a 360-degree overview of your business through their granular reporting capabilities. This increased visibility is critical to building a technology stack that allows each application to work together seamlessly. data can be shared between teams in real-time when hosted on a cloud server.

Sage Intacct is a native SaaS accounting software with a large collection of API connectors. It offers both robust financial management features and easy integration with the best systems available.

  • Dimensional accounting: Improves reporting without extensive account codes
  • Artificial Intelligence (AI): Automates time tracking and bookkeeping, and has the ability to detect anomalies and adjust data quickly.
  • Dashboards: Consolidated views of key performance indicators, with detailed access controls
  • Report Designer: Allows intuitive and flexible report customisation as well as detailed dimensional analyses
  • Process maps: Visual tools that help you navigate your operations better
  • Multi-entity accounting: Supports multiple entities in one system and supports different currencies and regulations.
  • Intelligent (GL)tm : A sophisticated general-ledger with customisable fields, and real-time visibility of data
  • Accounts Receivable/Payable: Integrates processing of payments to streamline transactions
  • Cash Management: Comprehensive insights into money flow, automated bank reconciliation and more.
  • Order Management: Integrates orders processing into other financial systems to increase efficiency
  • Automated systems and performance monitoring can speed up workflows in purchasing.

Modern Manufacturing: The Importance of Integrated Systems

Multiple systems are needed in a modern manufacturing chain, especially for SME’s/SMBs or midmarket companies, to streamline, automate, and keep track of everything that is moving, from pre-production, to the end product, to transportation. The software ROI can be captured by consolidating as many of these processes as possible, without sacrificing efficiency or effectiveness. This is why seamless integration is so important. If you implement cheap solutions across all your sites but they don’t communicate and users have to manually enter data, how much time and money did you really save?

Sage Intacct Marketplace Integrations

Sage Intacct’s marketplace of approved partners includes solutions for accounts payable, project management and Salesforce integration. The marketplace includes approved partners for solutions such as payroll, multi-entity & multi-currency, CRM, inventory management, fixed asset management, expense tracking, and more.

Explore Sage for Manufacturing Operations Integration

SDMO is a key internal integration for manufacturers who use Sage Intacct. It bridges the gap between financial, distribution, and manufacturing silos, and delivers a single source of truth to your supply chain operations. It has built-in automations to automate procurement and requisitions tracking, material tracking and resource tracking, warehouse management, labor tracking and tracking, forecasting and order processing, as well as business intelligence and reporting.

Sage Intacct Manufacturing and Distribution features

Sage Intacct offers a core financial management system, but also several modules that are tailored to specific functions and industries. Sage Construction Management and Sage Intacct Inventory are examples. Sage Distribution and Manufacturing Operations is a module that allows you to manage production planning and capture traceability end-to-end from all points in your value-chain. It also empowers your regulatory compliance.

Sage Distribution Manufacturing Operations

Manufacturing Accounting Software: Competitive Landscape

Sage Intacct is a leading ERP solution for manufacturing. See how it compares to other accounting software.

Sage Intacct vs Microsoft Dynamics SL

Sage Intacct automates key financial processes. It reduces reliance on manual spreadsheets, and improves real-time visibility of business performance. The ability of Sage Intacct to connect with third-party systems simplifies data flows. This is in contrast with Dynamics SL, which has more limited integration abilities.

Cloud accounting software offers a high degree of security and operational efficiency at a much lower cost than older ERP systems such as Microsoft Dynamics SL.

Sage Intacct and SAP Business One

Sage Intacct is more scalable and suitable for all business sizes. SAPB1 is a solution that targets smaller businesses and has to be upgraded for more functionality.

Sage Intacct offers a user-friendly interface, with customisable dashboards. Dimension-based reporting is also available. SAP Business One requires many additional customisation layers.

Sage Intacct and NetSuite

Sage Intacct has a cost-effective subscription model that is not locked into contracts. This allows for flexibility when business needs change. NetSuite, on the other hand, tends to become more expensive with time. The pricing structure is usually tiered and includes upfront costs as well as additional fees for advanced functions.

Sage Intacct excels in financial management, with a general ledger powered by AI and reporting features you can filter as finely as needed. NetSuite, on the other hand, offers a broad range of functionalities for different industries but with less depth.

Sage Intacct and Other Sage Software for Manufacturing

Compare Sage Intacct to other Sage ERP products for manufacturing? Compare the following points:

Sage Intacct and Sage 100

Sage 100 is cloud-connected but does not feature SaaS capabilities. Instead, it relies on hosting with a certified provider, or Sage Partner Cloud. Sage Intacct’s cloud-native software platform increases productivity through real-time updates, unlimited multi-tenant scaling and a certified provider.

Sage Intacct integrates seamlessly with the best-of breed applications, such as Salesforce or Phocas, for extensive automation.

Sage Intacct and Sage 300

Sage Intacct offers superior financial management tools to Sage300. These include granular multidimensional reporting, real time analytics, and multi entity consolidation capabilities. These features are especially beneficial to businesses who require detailed accounting insight and efficient handling complex bookkeeping across multiple business units.

Sage Intacct is a leader in seamless integration and customisation within the app, which improves overall efficiency of business operations. Sage 300 supports integrations and customisations, but they are more complex due to the traditional ERP framework.

Sage Intacct and Sage X3

Sage Intacct, a cloud-native product, offers advantages in scalability without extensive setup. Although Sage X3 supports cloud functionality it typically requires additional infrastructure and third party services to be fully remote-operable.

Sage Intacct offers greater customisation flexibility and integration with other software applications. This allows for streamlined workflows, and improved data insights. Sage X3, although customisable, is for larger businesses with more complex integrations and requirements and can be customised to specific work flows.

Sage Intacct Manufacturing Operations: Learn More

Contact X3 Consulting to learn how SDMO and Sage Intacct can transform your manufacturing operation. Our team will demonstrate the many benefits of the connected accounting ecosystem. We can also leverage our years of experience in customising Sage software to manufacturers, ensuring you get the best out of your technology.

Click here for more information about Sage Intacct manufacturing capabilities.

In today’s rapidly evolving business landscape, having the right tools to streamline operations and improve efficiency is crucial for success. Sage Distribution Manufacturing Operations (SDMO) is a comprehensive software solution designed to meet the needs of businesses in the distribution and manufacturing industries. This blog post will explore the key features of SDMO, the types of businesses that can benefit from it, and the advantages of adopting this powerful software.

Key Features of Sage Distribution Manufacturing Operations

Sage Distribution Manufacturing Operations offers a wide array of features tailored to optimise every aspect of your business. Here are some of the standout features:

1. Inventory Management

Efficiently manage inventory levels, reduce carrying costs, and prevent stockouts with advanced inventory control features. SDMO allows for real-time tracking, automatic reordering, and detailed reporting, ensuring you always have the right amount of stock on hand.

2. Order Processing

Streamline your order processing from quotation to delivery. The software integrates sales order management, customer relationship management (CRM), and fulfilment processes, reducing errors and improving customer satisfaction.

3. Production Planning and Scheduling

Optimise your production workflow with robust planning and scheduling tools. SDMO helps you manage resources, track production progress, and ensure timely delivery of products.

4. Financial Management

Maintain a clear view of your financial health with integrated accounting and financial management tools. From budgeting and forecasting to accounts payable and receivable, SDMO provides comprehensive financial oversight.

5. Supply Chain Management

Enhance your supply chain operations with features that support supplier management, procurement, and logistics. SDMO enables better collaboration with suppliers and more efficient procurement processes.

6. Reporting and Analytics

Gain valuable insights into your operations with powerful reporting and analytics tools. Customise reports, track key performance indicators (KPIs), and make data-driven decisions to improve your business performance.

Who Can Benefit from Sage Distribution Manufacturing Operations?

SDMO is designed for businesses of various sizes within the distribution and manufacturing industries. Whether you are a small business looking to scale or a large enterprise seeking to enhance operational efficiency, SDMO has the tools to support your growth.

Business Sizes

Small Businesses: SDMO provides small businesses with the scalability needed to grow without outgrowing their software. It offers a cost-effective solution with robust features that can be tailored to specific needs.

Medium-Sized Enterprises: For medium-sized businesses, SDMO delivers comprehensive tools to manage increased complexity in operations, ensuring seamless processes and improved productivity.

Large Enterprises: Large businesses can leverage SDMO’s advanced features to manage extensive operations, multiple locations, and complex supply chains effectively.

Industries

Manufacturing: Companies involved in manufacturing can benefit from improved production planning, resource management, and quality control.

Distribution: Distributors can optimise their inventory, enhance order processing, and improve customer satisfaction with better supply chain management.

Retail: Retail businesses can achieve better inventory management, streamline procurement, and enhance their financial management capabilities.

Benefits and Advantages of Adopting SDMO

Adopting Sage Distribution Manufacturing Operations brings numerous benefits and competitive advantages to businesses:

Increased Efficiency

By automating and streamlining processes, SDMO reduces manual work, minimises errors, and enhances productivity across all departments.

Cost Savings

Effective inventory and supply chain management lead to lower carrying costs, reduced waste, and improved profitability.

Enhanced Visibility

Real-time data and comprehensive reporting provide better visibility into operations, helping businesses make informed decisions quickly.

Scalability

SDMO is designed to grow with your business, offering the flexibility to add new features and modules as needed without disrupting existing operations.

Improved Customer Satisfaction

Faster order processing, accurate inventory management, and timely deliveries contribute to higher customer satisfaction and loyalty.

Why Choose X3 Consulting for Your SDMO Implementation

X3 Consulting is an approved Sage business partner with extensive experience in SDMO implementation and migration. Here’s why businesses should consider partnering with X3 Consulting:

Expertise

With a deep understanding of Sage products and a proven track record of successful implementations, X3 Consulting ensures your SDMO solution is tailored to your specific needs.

Personalised Service

X3 Consulting provides personalised service, from initial consultation to ongoing support, ensuring a smooth transition and continued success with your SDMO system.

Proven Methodology

Utilising a structured and proven methodology, X3 Consulting minimises risks and ensures your project is delivered on time and within budget.

Comprehensive Support

From training your team to providing technical support, X3 Consulting is committed to helping your business get the most out of your SDMO investment.

Industry Knowledge

With expertise across various industries, X3 Consulting understands the unique challenges and requirements of different sectors, providing solutions that deliver real value.

To transform your distribution or manufacturing operations with Sage Distribution Manufacturing Operations, contact X3 Consulting today. Let our team of experts implementation consultants guide you through the process and unlock the full potential of your business with SDMO.

Watch the information video here

Or visit our website for more information.

Discover how cloud finance software can be used to automate accounting processes, freeing you from a world of data entry and slow manual tasks.

Are you still doing complex financial accounting efficiently with Excel or old-fashioned desktop software?

You’re probably buried in stacks of paper, spending countless hours plugging in data and reconciling accounts. The thought of completing a complex financial report for stakeholders might fill you with dread.

You could be missing deadlines, adding errors, and stifling growth with manual, inefficient processes.

Cloud finance software can save you from that world of pain.

In this article, we reveal how software can be used to automate accounting processes, freeing up time for other tasks. And we talk about the steps required to get things up and running.

Here’s

  • Still clinging to manual processes?
  • Why cloud software can make life easier
  • Cloud financial software helps you connect data, operations and people in real time
  • Tips on choosing the right cloud finance software
  • After implementing your cloud finance software…
  • Final thoughts on cloud finance for business success

Still clinging to manual processes?

Even with the availability of cloud finance software, you may still be using manual spreadsheet- based systems because they are familiar, and you’re worried about the investment needed.

Perhaps, you don’t feel you can use cloud finance software effectively.

But if your business is growing and getting more complex, manual processes will probably be holding you back as you don’t have the real-time data and insight to drive your business effectively.

James Beattie, founder of WeTested, says many businesses still rely on manual processes and outdated legacy software, which can lead to financial mismanagement, delays in financial processing, and increase the risk of errors.

James says: “Legacy software can also be a hindrance, as it is often not designed to handle the complexity of modern financial operations.

“It can be difficult to integrate with other systems, leading to a lack of real-time data and insight. This can make it difficult for businesses to make informed decisions, leading to bad outcomes.”

Ian Rose, principal systems consultant at Sage, believes that while legacy tools are still usable, they may not necessarily be the best way to get to your core financial numbers.

Ian says, “Manual processes mean that you must typically input the correct information first, which is time-consuming and open to error.

“Another area that is a problem is approval processes. If done manually, there can be massive frustrations.”

Why cloud software can make life easier

Cloud finance software is accessible anywhere, at any time

You don’t have to worry about installing or maintaining software on your own server. Instead, everything is saved in the cloud.

In addition, since most cloud solutions offer multiple users access at once (with permissions), it’s easy for anyone in your business to access and view financial reporting without compromising security measures or privacy policies.

The software is updated regularly and reduces cost

Cloud systems are easier to upgrade because they don’t require data migration between servers. Instead, they can be upgraded by simply making changes in the cloud environment.

Since these programs automatically update themselves over time with new features and enhancements from their developers, there’s no need for IT specialists, which saves money.

Cloud computing is cheaper than traditional IT infrastructure because it requires less hardware, software licenses, and maintenance costs.

There are fewer maintenance costs associated with changing technologies over time, making life easier in ensuring everything works properly across different departments.

In addition, cloud providers often offer free trials or special offers, so you might not have to pay anything before trying out their services first-hand.

Scalability is on the cards

A scalable system help you take advantage of opportunities as they arise. If your business grows, it’s important to ensure your financial systems can keep up.

Cloud systems allow scalability in terms of size (adding users) and functionality (adding features). Your business will be able to grow rapidly without having to worry about how to accommodate growth or contraction through upgrades or downgrades.

Users will also have access to all the information they need at any given time.

Cloud financial software helps you connect data, operations and people in real time

Connect data and people

Cloud finance software helps you accelerate growth by connecting your financials, operations, and people in real time, creating a foundation of growth and agility.

Real-time access to accurate data is critical for decision-making.

Cloud finance software, accessible from anywhere in the world, is crucial when working with financial data across multiple locations and lets you make better, more informed decisions that increase revenue and profitability.

It allows you to have up-to-the-minute financial information at your fingertips. You’ll have a complete picture of your business performance, meaning you can make better decisions about where to allocate resources.

If one region has a high sales volume but low margins compared with others in your business (or even competitors), for example, cloud technology would allow you to easily identify this issue before it becomes an issue at other locations.

It’ll help you make smarter decisions about the future direction of your business, including where you should invest in growth opportunities or cut back on unnecessary costs such as rent payments on office space that is sitting empty most of the year.

Sarah Platt, founder and finance partner at Firehaus, says: “As a business owner, you have a lot of decisions to make, and this can overwhelm you. Having sound financial information at your fingertips can relieve much decision-making stress.

“You can go with a strong ‘gut feel’ if it’s backed up by financial data.

“Ideally, a combination of historical figures from management accounts and future-looking figures from forecasts and budgets is a sound way of confidently making decisions.

“The data may even challenge that ‘gut feel’ and prevent you from making a bad decision through lack of insight and analysis.”

Connect operations

Cloud technologies allow businesses to automate accounting or payroll processes by connecting them directly to existing systems such as enterprise resource planning (ERP).

You don’t always need dedicated IT staff members on hand. Instead, you can allow access to employees trained in using the tools.

Tips on choosing the right cloud finance software

Oana Marele is the founder and managing director of Marele Accountancy. She has spent 20 years in senior finance roles across diverse and complex companies and is now a consultative finance director to companies across Europe.

Oana says to look for cloud finance software that’s straightforward, simple and user-friendly. The software’s features should cover all relevant aspects of business finance.

Oana adds: “As far as manual bookkeeping goes, from where I stand, there is no comparison to cloud finance software.

“A manual bookkeeping system is extremely unproductive, time-consuming and limited in its ability to support a business to operate and grow.”

Moving from paper or Excel-based accounting can be challenging, but it needs to be done if you want to be more efficient and able to cope with changing compliance and business demands.

Begin by looking inward

Take the opportunity to do some self-reflection. Here are a few key questions to ask internally.

  • What are the issues we would like to resolve with our existing finance processes?
  • Are the issues technology related?
  • What internal support resources and capabilities do we have?
  • How should we define success?
  • Which internal stakeholders should we include in evaluating the cloud finance software?
  • How will a new system change the business?

Select the right partners

The first step in your journey is developing a strategy and plan for choosing and putting in place your cloud finance software.

Here are a few key questions you might want to ask prospective cloud finance software partners:

  • Do they have experience with my type of product, service, and company size?
  • Can they show a hands-on demo with our real live data to show business benefits?
  • Do they understand the regulations that will impact my business?
  • How are these regulations reflected in its current product, and how will it change in the future?
  • What is the partner’s strategic investment outlook for the next three to five years? Why? How will that change and enhance my business?

Take ownership of the process

For the best results, you must take a very active role in the actual implementation of the cloud finance software.

Cloud finance can touch upon your back-office systems, involving HR, supply chain, and inventory. Focus on how the cloud finance software is set up and how it interacts with other systems within your business.

Here are a few key questions to ask regarding your cloud finance software:

  • What levels of support are available? Are they geographically available?
  • How should I set up the service-level agreement before signing any contracts?
  • Can the finance cloud software integrate with our other IT systems and those of my partners?
  • Which IT system needs to be integrated and to what degree?

After implementing your cloud finance software…

Post-implementation is critical. In many ways, success hinges on what happens after the cloud finance software goes live.

Think about how your people will be impacted. Here are a few key questions to ask:

  • How are we set up to deal with frequent product updates?
  • Do we have a strategy to encourage rapid adoption?
  • Do we have the right amount of training for employees to master the new features within the cloud finance system?
  • Are you communicating the purpose and benefits of the cloud finance system with your finance team?
  • Have we aligned existing policies and procedures to allow the adoption of new workflows?

Final thoughts on cloud finance for business success

Finance is a crucial part of any business, and with so much riding on accurate data and timely decisions, you must have the right tools.

The right cloud finance software will help you become more agile and flexible with workflows and processes while connecting people so you can make better real-time decisions.

For more information about the advantage of Sage Intacct SaaS, click here and download your Free E-Book or Sage Intacct product guide.

Switching to Cloud ERP technology doesn’t have to be complicated

Businesses are increasingly opting to switch to cloud-based software due to the myriad benefits it offers in terms of flexibility, scalability, and cost-effectiveness. Cloud-based software, hosted on remote servers and accessed over the internet, eliminates the need for businesses to invest in and maintain physical infrastructure.

One key advantage is the flexibility it provides. Cloud solutions allow employees to access data and applications from anywhere with an internet connection, promoting remote work and collaboration. This flexibility enhances productivity and responsiveness to changing business needs, especially in dynamic environments.

Scalability is another driving factor. Cloud services offer the ability to easily scale resources up or down based on demand. This agility enables businesses to adapt to fluctuating workloads without the need for significant upfront investments in hardware. Whether a company experiences rapid growth or needs to downsize, the cloud accommodates these changes seamlessly.

Cost-effectiveness is a compelling reason for the switch. Cloud-based software eliminates the need for organisations to purchase, install, and maintain expensive hardware. Instead, businesses pay for the resources they use on a subscription basis. This pay-as-you-go model reduces upfront capital expenditures and allows for better budget management.

Security and data backup are also improved with cloud solutions. Reputable cloud providers invest heavily in security measures, often surpassing what individual businesses could implement on their own. Additionally, regular backups and disaster recovery options ensure that critical data is protected from loss or damage.

Does my technology investment need to be future-proofed and have the latest digital technologies?

Companies, especially growing companies with multiple entities, are looking to automate workflows, and use cognitive intelligence, to improve productivity and make better decisions. Cloud-native apps use open APIs, standards, and technologies that simplify major functionality upgrades. They also provide access to third-party libraries and tools to streamline collaboration, automation, and reporting between entities. It’s time to move to a cloud native financial management platform if you’ve created numerous workarounds for your legacy accounting and financial systems.

Spending too much time collecting data and using spreadsheets?

If you’re using multiple spreadsheets or other reporting tools to augment your legacy system, it may be time for a change. You may have outdated and inconsistent versions of your original data if you use spreadsheets to supplement your legacy system because it doesn’t offer the reporting and insights you need. Numerous studies show that nearly nine out of ten spreadsheets have errors. The majority are due to human error. The differences then spread internally, leading to different decisions and analytical outcomes. You may also want to do a deeper dive into your expenses and processes for better decision-making, especially for organisations with multi-entity charts of accounts and . This task is best performed by a cloud-native platform with dashboards and reports for forecasting and visualising.

Why choose cloud-native?

You have many options in the cloud if you use QuickBooks desktop or Microsoft Dynamics GP. QuickBooks Online is a cloud version of QuickBooks Desktop. QuickBooks Online is less functional than QuickBooks Desktop. But it’s more problematic because it can’t handle multiple entities. Each entity must have its own login and database in either version. Consolidations of multiple entities can take days or even weeks to complete, as the data must be manually combined and exported from each entity.

Consider switching to a platform that is cloud-native, rather than using a lightweight version of desktop software. They are cloud-native platforms that are modular and built for the cloud. This makes it easy to add new functionality. The loosely coupled architecture of multitenant systems makes them cost-effective and future-proofed. Cloud-native apps are easier to maintain, integrate, and adapt.

  • Bug fixes and system upgrades that are seamless
  • The interval between major releases is shorter
  • Support for new technologies and standards like artificial intelligence (AI).

Cloud-native solutions may be the right choice if your current system does not have the features you require or cannot support your growth projections. Gartner Research estimates that 70% of midsized companies will be using cloud-native systems by 2024, up from just 54% in 2010.

Cloud-native platforms for financial management combine the customisation of on-premises solutions with the security, 24×7 accessibility and reduced maintenance that the cloud offers. Cloud-native platforms deliver all the benefits of the cloud due to the use of cloud technologies, open APIs and de facto standards. These solutions are easy to integrate, adapt and scale. They give you confidence in a flexible system that can meet your future requirements.

For more information about the advantage of Sage Intacct SaaS, click here and download your Free E-Book or Sage Intacct product guide.

What is Cloud ERP?

Cloud ERP (or Enterprise Resource Planning) is the deployment of ERP on a cloud-based computing platform. ERP software integrates business functions and processes across an organisation to create a single, unified system. The goal of ERP is to streamline information and processes across an organisation. This will enable better decision-making and improved efficiency.

Here are some key features and benefits of Cloud ERP and how it can help your business:

Flexibility and Accessibility:

Anywhere access: Cloud-based ERP allows users to connect from anywhere via the internet, allowing flexibility and mobility.

Device Independence Users are able to access the ERP system using a variety of devices including laptops tablets and smartphones.

Cost-savings:

Reduced infrastructure costs: Cloud ERP software allows you to avoid investing in servers and infrastructure on-premises. It can reduce hardware costs and maintenance.

Subscription model: Most solutions are based on a subscription model. This allows businesses to pay only for the services that they require without having to incur large upfront costs.

Scalability:

Easy Scaling Cloud ERP Systems can be easily scaled up or down depending on your business requirements. This flexibility is especially beneficial for businesses that are growing.

Automatic Updates

Continuous improvement: Updates and maintenance are taken care of as part of the solution. It ensures your system is up to date with the latest security patches and improvements, as well as features.

Collaboration & Communication:

Better Collaboration: Cloud-based ERP facilitates communication and collaboration between different departments through a central platform that houses data and information.

Real Time Data Access: Employees in different locations can have access to real time data. This promotes informed decision making.

Data Protection:

Improved Security Measures: To protect your business information, reputable cloud ERP providers use robust security measures including encryption, backups and compliance with industry standard.

Integration of Other Systems:

Seamless integration: Cloud-based ERP can be integrated with other cloud-based and on-premises software such as CRM (Customer Relationship Management), HR (Human Resources), or HRM (Customer Relationship Management), creating a comprehensive business ecosystem.

Focus on core Competencies:

Outsourcing IT Responsibility: Cloud ERP allows your business to focus on its core competencies as the IT infrastructure management and maintenance is handled by the ERP provider.

Cloud ERP streamlines business processes, offering cost savings, scalability, and flexible access. It ensures automatic updates, enhances collaboration, and provides robust data security. With quick deployment, seamless integration, and a focus on core functions, Cloud ERP fosters business continuity, making it an efficient, adaptable, and innovative solution for organisations.

For more information about the advantage of Sage Intacct SaaS, click here and download your Free E-Book or Sage Intacct product guide.

Sage Intacct SaaS (Software as a Service) Intelligent insights is a powerful financial management solution that provides businesses with a comprehensive set of tools to streamline and enhance their financial processes. This cloud-based software offers several key benefits that can significantly impact a business’s efficiency, accuracy, and overall financial performance.

Sage Intacct SaaS Intelligence

One of the primary advantages of Sage Intacct SaaS Intelligence is its ability to automate financial processes. The software automates tasks such as data entry, reconciliation, and reporting, reducing the risk of errors and allowing finance teams to focus on more strategic activities. Automation also enhances the speed of financial processes, enabling real-time decision-making and responsiveness to changing business conditions.

Robust Reporting

Another notable feature of Sage Intacct is its robust reporting and analytics capabilities. The software provides customisable financial reports and dashboards that offer deep insights into key performance indicators (KPIs) and financial metrics. This data-driven approach enables businesses to make informed decisions, identify trends, and forecast future financial scenarios with greater accuracy.

Scalability

Sage Intacct SaaS Intelligence also excels in scalability, making it suitable for businesses of various sizes and industries. The cloud-based nature of the software allows for easy scalability without the need for significant investments in hardware or IT infrastructure. This is particularly advantageous for growing businesses that need a flexible and adaptable financial management solution.

Furthermore, the software promotes collaboration within organisations by providing a centralised platform for financial data. This facilitates communication and collaboration among different departments, ensuring that all stakeholders have access to accurate and up-to-date financial information.

Security is a critical consideration in today’s business environment, and Sage Intacct addresses this concern by implementing robust security measures. The software employs encryption, authentication protocols, and regular system updates to protect sensitive financial data from unauthorised access and potential breaches.

In summary, Sage Intacct SaaS Intelligence is a comprehensive financial management solution that delivers automation, analytics, scalability, collaboration, and security. By leveraging these features, businesses can enhance their financial processes, make informed decisions, and adapt more effectively to the dynamic challenges of the modern business landscape.

For more information on Sage Intacct SaaS intelligence, click here and download your Free E-Book or Sage Intacct product guide.

The use of SaaS (Software as a Service), or ERP software, for operations management has many advantages. It can improve efficiency, scalability and business performance.

First, central data management is the key reason for adopting ERP SaaS operations. ERP systems combine various business processes such as Customer Relationship Management (CRM), Finance, Human Resources, and Supply Chain Management into one platform. This central data repository allows for real-time information access, which promotes better decision-making.

Second, ERP software allows for automation. This saves time and reduces errors. SaaS operations include complex processes such as order processing, subscription management, and billing. Automation of these tasks via ERP reduces human error and increases speed. This allows organisations to quickly meet the needs of SaaS customers.

Scalability is also a critical factor. SaaS companies need to be able to adapt their solution as they grow. ERP systems can scale up with an organisation to accommodate increased data volumes, users and transactions, without compromising on performance. SaaS operations are able to expand smoothly because of this scalability and cloud-based platform.

ERP also improves communication and collaboration between departments. In a SaaS-environment, it is important to coordinate between sales, marketing, development and customer service. ERP helps to break down silos in the organisation by providing an integrated view of business operations, improving communication, and fostering collaboration.

ERP systems contribute to security and compliance. Data security and regulatory compliance is of paramount importance in the SaaS sector. ERP solutions are often equipped with robust security features that can help organisations comply with industry regulations. SaaS companies that deal with sensitive data should be aware of this.

The cost-effectiveness of ERP is one compelling reason for switching to SaaS operations management. Consolidating software tools onto a single platform allows organisations to reduce licensing costs, and eliminates the need for multiple subscriptions. ERP’s automation features can also lead to significant cost savings, as they reduce manual labor and minimise errors.

Finally, the analytics and reporting features in ERP allow for data-driven decisions. ERP systems offer advanced analytics tools that can extract valuable insights from the vast amount of data generated by SaaS businesses. This allows organisations to make better decisions, optimise their processes and find new growth opportunities.

As a conclusion, implementing ERP software to manage SaaS operations offers a comprehensive, integrated solution that integrates business processes, improves efficiency and scalability. It also enhances collaboration while ensuring compliance. Leveraging ERP is a strategic decision for companies seeking to achieve sustainable growth and operational excellence.

For more information about the advantage of Sage Intacct SaaS, click here and download your Free E-Book or Sage Intacct product guide.

X3 Consulting will be attending the it Showcase at Old Trafford Stadium, Manchester on Tuesday 25th June 2024. This event is specifically focussed on helping businesses identify what software they require to grow their business.

Getting your software project off to the best start requires that you speak to the right people. People who understand your business and the challenges you face on a daily basis.

Not only does itSHOWCASE present more specialist software suppliers than any other UK event, but we’re also the only event that brings them to you.

 

Venue and date:

it Showcase Old Trafford Stadium

Manchester Suite

Manchester United Stadium

Old Trafford

Manchester

M16 0RA

 

Tuesday 25th June 2024

10am to 2pm

REGISTER FREE HERE

Ready to upgrade now?

If you have already decided it’s time to update your business software, the itSHOWCASE ERP software discovery event is a great place to start looking. The X3 Consulting team will be there to guide you through the benefits of upgrading to Sage X3 and Sage Intacct and discuss the unique software from Trax3ion developed to help in scoping your needs prior to the Sage implementation.

Not quite ready to change yet?

That’s no problem either. You still need to keep your finger on the pulse of what’s out there. Meet our Sage X3 and Sage Intacct experts and discuss what the future holds so, when the time comes to upgrade, you know you’ll be ready.

Learn what the future holds and how to access the software

The pace of technological change has never been greater. Artificial Intelligence (AI), Machine Learning (ML) and Robotic Process Automation (RPA). The Internet of Things (IoT), Big Data and Cloud Computing. Visiting itSHOWCASE will help you demystify the technologies that fuel digital transformation and help you avoid some of the pitfalls when deciding to embrace digital change for your business.

Why start your project with a large financial outlay when you’ll only start to reap the full benefits of your new system after you’ve gone live? We are helping businesses get the software they need for tomorrow, today with Buy It Your Way from X3 Consulting, find out more by clicking this link.

If you’d like a one-to-one discussion with our team you can book a session now on-line using our contact form here or come along on the day and speak to one of our experts.

We look forward to seeing you there!

MTD Module update

We are making all our customers and users of the Sage X3 MTD for VAT module aware of a change happening soon. On 22 May Sage are updating the MTD for VAT module.

This affects customers on Sage X3 V6 to V11 using the MTD add-in.

This update contains important security changes to the embedded browser, which is used to complete the authentication and submission to HMRC. The module is used by a number of products in the Sage range.

The first time you open the module after 22 May you will be prompted to download and install a small update. The update needs to be performed on all PCs on which the module is installed.

All PCs need .net version 4.7.2 or higher before undertaking the upgrade, you may need to speak to your IT support team.

The Sage X3 MTD submission module (standalone solution) was originally implemented to work with Sage X3 versions V6, V7 and V8, however as these versions are now outside Sage’s Lifecycle Policy they are no longer supported and have not been fully tested by Sage.

We are aware HMRC have been blocking submissions from older operating systems and this is increasing in frequency, with older CBC Cipher suites being blocked from 07 May 2024.

To remain fully compliant we recommend Customers moving to the latest version of Sage X3, Release 2024 R1.

If you have any questions, please reach out to your support contact within X3 Consulting who will be able to assist you further.

Or contact support here.