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Fintech Digital Roadshow 2022

Adopting technology to become a digitalised business

Welcome to the launch of the Fintech Digital Roadshow 2022. In this newly launched business roadshow, we want to help you take the next step towards digital transformation.

It’s been a hot topic for business leaders over the last few years, now it’s time to focus on technology trends that maximise the value of what the organisation creates. These technologies demonstrate the IT force multipliers that will in turn win business and market share.

On the 14th September Fintech Digital 2022 kicks off the UK tour in Leeds with this face-to-face roadshow covering the three big topics for business leaders; Growth, Digitalisation and Technology.

Our hand-picked thought leaders and senior business experts, including PwC UK, FSB, Sage, Zap business intelligence, Frontline data security and X3 Consulting ERP transformation specialists will present key topics with a choice of attending either the breakfast briefing or lunch briefing.

The roadshow will provide an insight into building a digital network, embracing technology with a roadmap to digital transformation, forging the way for growth and evolution of businesses into the digital era, and positioning CFOs, CIOs, Finance leaders and business executives as strategic businesses drivers within your organisation.

If you are a business leader looking at how you can transform your business and get future-ready, then this briefing is not to be missed!

The agenda of the roadshow is based around three main topics:

Digital safe spaces: Building a secure environment for businesses by ensuring data is integrated and processed more securely across cloud and non-cloud environments. Create a resilient and efficient data environment to maximise the potential growth of your business.

Technology Trends: Creative technology adoption to scale and accelerate your organisation’s digital transformation. New technology trends allow you to improve business automation, optimise artificial intelligence (AI) more rapidly and enable a comprehensive view of your business for smarter insights.

Growth Transformation: By embracing technology you can gain competitive advantage over your competitors. With a clear roadmap and digital best practice, you can begin to open up new business opportunities and create a digital culture which will enhance the capabilities of your organisation.

What makes this different from all the rest is our meet the experts session post event. Rather than the usual Q& A, we are offering all attendees the chance to come and talk to any of the expert panel on a one-to-one basis, allowing you direct access to ask the questions relevant to your business and needs.

Don’t miss out, register today for either the breakfast or lunch briefing at one of the 6 locations across the UK.

NEW Dates:
14th September Leeds South
15th September Newcastle
28th September Manchester
29th September Solihull
12th October Elstree
13th October Farnborough

Times:
Breakfast event registration 7.15am/7.30am
Event start: 7.45am
Event Close: 9.15am
Ask the Expert session: 9.15 – 10.00am

Lunch event registration 12.00noon/12.15
Event start: 12.30pm
Event Close: 14.00pm
Ask the Expert session: 14.00 – 14.45pm

IT SHOWCASE SOUTHAMPTON – ***DATE CHANGE***

X3 Consulting will be attending this years it Showcase Southampton at St Mary’s Stadium, held on the 18th May. 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:

18th May 2022

St Mary’s Stadium
Brittania Road
Southampton
SO14 5FP

REGISTER 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!

Sage X3 provides advanced, all-in-one ERP with industry-specific depth and new technologies for intuitive usability – the driving success at many companies.

WHY MODERN BUSINESS MANAGEMENT IS THE NEW DIGITAL REVOLUTION IN 2022

CFOs face a dual challenge in 2022: Accelerate growth and digital initiatives and preserve or restore the organisation’s financial health.

Seven out of 10 board directors according to a recent Gartner study say the COVID-19 impact has already accelerated digital business initiatives.

That acceleration is designed to deliver continuous value and agile strategy-setting, real-time risk assessment and mitigation, better informed and faster decisions, and hyperautomation (any process that can be automated should be automated).

And this accelerated digitalisation is sweeping both the finance function and the organisation as a whole.

HOW CAN YOU BUSINESS EMBRACE DIGITAL CHANGE?

It’s easy—and often justifiable—to blame rapid, unceasing technological advancements as the cause of many of today’s major challenges in industries such as manufacturing, distribution, and services. Globalisation, a mobile workforce, and new apps and tools are among the many factors that have created a new reality in which:

  • Data is being generated at mind-boggling rates, forcing you to make sense of it and make intelligent decisions almost on the spot.
  • Organisational silos are inadvertently being created, interfering with operational efficiencies, as individual business units incorporate tools and systems to meet their specific needs.
  • The ability to conduct business anytime and anywhere increases the need to satisfy your customers when they demand it.

Paradoxically, if technology is complicating your business, it can also simplify it. That’s why businesses of all types and sizes have recognised that traditional accounting software and legacy enterprise resource planning (ERP) solutions are no longer adequate to keep up in today’s business world—much less tomorrow’s. In fact, 49% of executives surveyed said they’re implementing new systems to replace their out-of-date ERP software, according to a recent report published by Sage

Are you interested in taking advantage of a faster, simpler, more flexible business management solution that supports your current needs and will promote your digital change well into the future? Now you can.

X3 BENEFITS

  • Enables the reviewing of business-critical information in real-time
  • Is flexible and can be adapted to changing business requirements
  • Provides flexible, customisable configuration specific to your business
  • Offers data analytics and business intelligence functions to enable faster, smarter decision-making
  • Provides a path to innovations such as the Internet of Things
  • Helps you and your management team focus on growing your business
  • Simplifies every part of your operation and helps reduce costs

HOW TO RECOGNISE THE REASONS TO MOVE BEYOND ERP

Recognising this, forward-looking mid-market enterprises are deciding to replace their legacy systems with more modern business management solutions that can support contemporary challenges, streamline their business processes, and improve collaboration throughout their business and across their supply chains. It’s no surprise that for two straight years, executives have cited the need to upgrade as the most common reason they’re replacing their old systems.

They’re looking to:

  • Availability of information
  • Improved data reliability
  • Increased interaction/integration of business operations/process
  • Improved productivity and efficiency
  • Improved lead time and enventory levels

 

We have a download from Sage called move beyond ERP, Click here to download.

the next generation CFO

95% of CFOs say that their role has changed significantly in the past five years. The next-generation CFO either wears lots of new hats or at least must engage collaboratively with the other professionals in these roles. Either way, the CFO’s responsibility and influence continues to increase…

FIND OUT WHICH ROLE YOU PLAY AS CFO IN THIS INFOGRAPHIC:

The CFO and the finance team continues to gain more and more importance within companies. In a highly volatile economic environment with increasing global competition, the need for high-quality planning, budgeting, forecasting and negotiation is growing. In addition, a stronger involvement of the finance organisation in the development and design of strategies for digital transformation is necessary. This makes CFO’s and their teams the architects of value creation for companies. The finance function must face three key challenges in particular: Better cost control, focus on new growth and sustainability.

ARE YOU READY TO FACE THESE CHALLENGES?

Digital technologies are helping finance take on a new role within businesses, breaking down traditional work processes, driving employee change and providing new insights. The digital transformation is also causing a role shift and an expansion of competences in the finance organisation. In addition to the original tasks of the finance function, the CFO and his or her department are increasingly seen in the role of a driving force for value creation in the company and thus also as a driver of digitalisation.

If you are ready to take the step towards a digital future, click here to book a discovery call with one of our business consultants.

MIGRATING TO SAGE INTACCT LEADING FINANCIAL MANAGEMENT SOLUTION IN THE CLOUD

LEADING FINANCIAL MANAGEMENT SOFTWARE

As part of the Sage family, your growth and success are at the heart of everything we do. We want to ensure that you have the right solution to position yourself for success at every stage of your business. And for many Sage 50 customers, the solution has been to graduate to the cloud with Sage Intacct.

Built as a native cloud solution from day one, Sage Intacct has empowered thousands of Sage 50 customers to: work anywhere, anytime, close the books 80% faster, get visibility into key metrics in seconds, and consolidate all their entities in minutes.

FINANCE IS TAKING THE LEAD ON DIGITAL TRANSFORMATION.

According to Gartner, “Finance organisations are increasingly shifting to cloud core financial management suites, with continued double-digit growth in the market.” Gartner has published a new Magic Quadrant covering cloud-based core financial management applications. Finance leaders can leverage this research report to identify vendors of cloud solutions to help them compete in rapidly evolving digital business environments.

In the new Gartner Magic Quadrant, Sage Intacct is named as Visionary for the fourth straight year. Gartner says, “Visionaries understand how the office of finance is changing as core financial management applications move to the cloud.”

Sage Intacct is a top Gartner-rated cloud accounting ERP software. Sage Intacct’s accounting system helps businesses streamline financial processes and can provide real-time financial and operational insights. It can automate manual processes and easily integrate with other business applications like CRM, Financial Planning & Analysis, Payables, Purchasing and Reconciliations.

Sage Intacct’s featured applications include:

  • General Ledger
  • Accounts Payable
  • Accounts Receivable
  • Cash Management
  • Purchasing
  • Cash Management
  • Dashboards and Reporting
  • Project Costing & Billing
  • Revenue Recognition
  • Contract Management

THE FLEXIBLE AND CONFIGURABLE FINANCIAL MANAGEMENT PLATFORM BUILT ON A TRUE CLOUD FOUNDATION

Sage Intacct customers achieve an average 250% ROI and payback in less than 6 months:

– Reduce time to close by as much as 79%
– See real-time reporting across hundreds of consolidated entities
– Put finance leaders in a position to drive more growth

As a best-in-class provider, our cloud accounting software products and financial management solutions deliver deep accounting capabilities across multiple industries designed with a single aim—to accelerate your success.

See how Sage Intacct can transform your business by watching a demo of the software today.

Or you can book a call with one of our expert business consultants who would be happy to discuss your current issues and how Sage Intacct could improve efficiencies.

 

Migrating from Sage 300 to Sage Intacct?

Is your business struggling with the limitations of Sage 300? Do issues with poor visibility into real-time data, too much paper, over-reliance upon Excel, hardware compatibility, and limited integration with other applications make you wonder if it’s time for a more modern and flexible solution?

Here are the top 5 reasons businesses decide to migrate from Sage 300 to Sage Intacct:

1. SPREADSHEETS DO OFFER REAL-TIME INSIGHT FOR YOUR GROWING ORGANISATION

Are you frequently frustrated by the lack of flexibility and how tricky the reporting tools can be in Sage 300? Often, finance is entirely dependent upon IT or an external consultant to modify existing reports or create new ones. As a result, they spend far too much time dumping data to Excel, manipulating/pivoting/filtering/sorting information, and manually formatting required reports, charts, and graphs, which requires a lot of time.

Sage Intacct has built-in dashboards and reports that can greatly reduce, and even eliminate, the need for Excel spreadsheet dependence. Dashboards and reports provide instant visibility and enable timely, data-driven decisions with data updated in real-time and configurable for each user with clicks, not complicated code. Reducing your month end close by up to 79%.

2. MANUAL PROCESSES ARE REDUCING EFFICIENCIES

Sage 300 offers a solid suite of financial modules, but was not architected for certain industries (e.g. software and SaaS, professional services, media and entertainment, and not-for-profitst to name a few). Manual contract management, revenue recognition, project accounting, and fund management processes will be far less effective resulting in employee productivity problems, customer service delays, and profitability shrinkage.

Sage Intacct automates these key processes including opportunity to cash, project accounting, and fund management leading to cost-effective, strategic growth.

3. LACK FLEXIBILITY OF MULTI-ENTITY AND MULTI-LOCATION ORGANISATIONS 

Sage 300 was one of the leading finance solutions when it was released in the 90’s. As the demands of organisations evolved Sage 300 stayed status quo.

 In contrast, Sage Intacct was architected for the cloud and offers significant flexibility and benefit for today’s organisation. Consider:

  • Multi-entity management – automatically consolidated financial and operational reports, intercompany transactions, allocations, shared chart of accounts (COA), customers, and vendors
  • Dimensional accounting – rather than relying upon the chart of accounts and user-defined fields, Sage Intacct offers the ability to track and analyse an unlimited number of data dimensions.
  • Multi-book accounting – track and report on an unlimited number of books (e.g. accrual, cash, tax, GAAP, etc.)

4. “BEST-IN-CLASS” IS A BETTER APPROACH GOING FORWARD.

When Sage 300 was released in the 90s, the prevailing wisdom was that a suite of modules from a single vendor was the best way to provide required functionality across any organisation and simplify integration, support, and the occasional upgrade. The problem is, no single suite of applications provides all the functionality an organisation needs. Further, only part of the suite represented the ideal solution, forcing the rest of the organisation to compromise with sub-optimal features.

 Most organisations these days have moved or would like to migrate away from the limitations of a single vendor suite and have invested in “best-in-class” solutions – Salesforce, Adaptive Insights, AvidXchange, ADP, to name a few. Sage Intacct is a perfect fit for a “best-in-class” organisation. It integrates with over 200 leading cloud solutions, with APIs that are 12+ years backwards compatible, ensuring that integrations won’t break during product updates. As a result, businesses can utilise the tools they want for each line of business and have confidence that they entire solution will work together seamlessly.

5. EMBRACE THE CLOUD 

More businesses are looking for proven ways to reduce the burden on internal IT, free up resources to pursue more value-added activities, and improve their employees’ ability to spend their time serving clients, thinking strategically, and moving the company’s mission forward. Sage 300 is an on-premises application which can be hosted, but this doesn’t drive transformation in the same ways a true cloud application will.

Sage Intacct provides access from anywhere, anytime, on any device. The annual subscription includes 4 hassle-free updates per year and provides worry-free hosting, backups, and data security. It enables your accounting, finance, and IT teams to make the highest and best use of their time and be more strategic resources for the whole organisation.

Why Sage Intacct is different and why it matters

CLICK HERE to contact one of our business consultants.

Built for finance

Every R&D dollar at Sage Intacct is spent on providing value to you, the modern financial professional. So our cloud ERP software delivers a depth of financial capabilities you won’t find in a software suite. It’s more flexible, too—adapting easily to the way you need and want to do business. This is what’s going to make your finance team more insightful and productive.

Built for growth

With more efficiency and sharper insight, you can be in a position to drive growth, not just cope with it. Sage Intacct automates the complete array of accounting processes—from basic to complex—so you can improve productivity, provide compliance, and grow without hiring. It is the only mid-market cloud ERP solution with a multi-dimensional general ledger and robust, easy to use reporting, giving you one place to go for a full view of your real-time business performance. And it’s scalable, allowing you to easily handle growing numbers of users, customers, transactions, or entities.

Built for the cloud

Give your team the advantage of a solution that was built from the start on a true cloud architecture. Sage Intacct’s multi-tenant foundation brings robust technology infrastructure to your organization, without the high costs, maintenance, or complexity that would be involved with an on-premises solution. It can be accessed anywhere, from any device, and offers a user experience that’s modern and easy to learn. And it connects easily with other cloud solutions, so you are free to choose your business applications based on functional fit, not integration concerns.

Built for success

As a cloud vendor, we know that our customers have a choice, and we have to earn your loyalty every day. And we like it that way, because it keeps us totally aligned with what matters to you. With the help of implementation experts that are also seasoned finance professionals, Sage Intacct customers achieve an average 250% ROI with the solution and less than 6-month payback period. It’s no wonder that Sage Intacct has received the highest satisfaction ratings in the industry.

Sage Intacct helps finance professionals increase efficiency and drive growth for their organizations. In other words, our difference is helping you make a difference. How? By automating your processes so you can run your day-to-day business better. And by giving you greater insight and flexibility—so you can make confident long-term decisions, then act fast to execute changes. Find out more about migrating from Sage 300 to Sage Intacct by booking a call with one of our business experts.

Watch the top 5 reasons why businesses choose to move to Sage Intacct here on our Youtube Channel:

 

IF YOU’D LIKE TO LEARN MORE, CLICK HERE OR TO ARRANGE 1-2-1 DISCUSSION WITH ONE OF OUR BUSINESS GROWTH CONSULTANTS CLICK HERE.

Or you can register for the online Sage coffee break demo by clicking this link.

Migrating to Sage Intacct leading financial management solution in the cloud

Leading financial management software

As part of the Sage family, your growth and success are at the heart of everything we do. We want to ensure that you have the right solution to position yourself for success at every stage of your business. And for many Sage 50 customers, the solution has been to graduate to the cloud with Sage Intacct.

Built as a native cloud solution from day one, Sage Intacct has empowered thousands of Sage 50 customers to: work anywhere, anytime, close the books 80% faster, get visibility into key metrics in seconds, and consolidate all their entities in minutes.

Finance is taking the lead on digital transformation.

According to Gartner, “Finance organisations are increasingly shifting to cloud core financial management suites, with continued double-digit growth in the market.” Gartner has published a new Magic Quadrant covering cloud-based core financial management applications. Finance leaders can leverage this research report to identify vendors of cloud solutions to help them compete in rapidly evolving digital business environments.

In the new Gartner Magic Quadrant, Sage Intacct is named as Visionary for the fourth straight year. Gartner says, “Visionaries understand how the office of finance is changing as core financial management applications move to the cloud.”

 

migrating to sage cloud migrating to sage cloud

Sage Intacct is a top Gartner-rated cloud accounting ERP software. Sage Intacct’s accounting system helps businesses streamline financial processes and can provide real-time financial and operational insights. It can automate manual processes and easily integrate with other business applications like CRM, Financial Planning & Analysis, Payables, Purchasing and Reconciliations. Sage Intacct’s featured applications include:

  • General Ledger
  • Accounts Payable
  • Accounts Receivable
  • Cash Management
  • Purchasing
  • Cash Management
  • Dashboards and Reporting
  • Project Costing & Billing
  • Revenue Recognition
  • Contract Management

The flexible and configurable financial management platform built on a true cloud foundation

Sage Intacct customers achieve an average 250% ROI and payback in less than 6 months:

  • Reduce time to close by as much as 79%
  • See real-time reporting across hundreds of consolidated entities
  • Put finance leaders in a position to drive more growth

As a best-in-class provider, our cloud accounting software products and financial management solutions deliver deep accounting capabilities across multiple industries designed with a single aim—to accelerate your success.

See how Sage Intacct can transform your business by watching a demo of the software today.

Or you can BOOK A CALL with one of our expert business consultants who would be happy to discuss your current issues and how Sage Intacct could improve efficiencies.

 

 

Sage 200 and Sage Intacct are two very different products but they do have some overlapping qualities. This blog provides you with some top-level guidance on the key differences between Sage 200 and Sage Intacct.

What is the Difference between Sage 200 and Sage Intacct?

Sage 200 vs Sage Intacct

Sage has two products in the UK targeted at the small to medium business market, these are Sage 200 and Sage Intacct. Both Sage products have won awards and are market leading accounting software solutions in their own right, however there are differences between Sage Intacct and Sage 200.

What is Sage 200 and what is Sage Intacct?

Sage 200 was developed in the UK and is a set of accountancy and management products developed by Sage Group aimed at small to medium businesses. Sage 200 is designed to be a highly customisable and scalable product. Sage 200 was initially launched under the product name MMS, it was then rebranded as Sage 200 before being known today as Sage 200cloud.

Sage Intacct was developed in the USA as a Cloud-based Financial Management solution and is now available in the UK, Canada, South Africa and Australia. The software was initially developed by Intacct Corporation in 1999 and it was acquired by Sage in 2017.

What Modules And Features Are Available In Sage 200 and Sage Intacct?

Both Sage 200 and Sage Intacct have a range of modules that you can add once you have purchased the core financial system, however these modules are different in both products and have different features.

Sage 200 Modules

  • Financials
  • Commercials
  • Project Accounting
  • Manufacturing (3rd Party)
  • Bill of Materials
  • Business Intelligence
  • Sage CRM

Click the link for detailed information and a product tour detailing the features available in Sage 200.

Sage Intact Modules

  • Core Financials
  • Contract Billing & Subscriptions software
  • Fixed Assets
  • Project accounting
  • Time Sheet Entry and Expense Management
  • Full Multi-currency
  • Multi-entity and global consolidations
  • Vendor payment services
  • Inventory Management
  • Salesforce CRM Integration
  • Revenue recognition
  • Spend Management

Click the link for detailed information and a product tour detailing the features available in Sage Intacct.

What Industry Strengths Does Sage 200 and Sage Intacct Have?

Both solutions have similar core financials functionality and are popular across many industries, but their range of modules they offer make them appeal to certain industries. Sage Intacct has a strong following in Financial Services, Professional Services, Not for Profit and SaaS.

Sage 200 also has a strong following across all industries but is especially popular with companies who Manage Stock or who are in Manufacturing.

 

WATCH THE VIDEO: Here are some of the top 5 reasons why businesses should upgrade to Sage Intacct

Key Strengths of Sage 200 and Sage Intacct

Some of the key strengths of Sage 200 includes its ability to integrate with other Sage products, such as Sage Payroll, Sage Pay and Sage CRM. Another key strength of Sage 200 is the large amount of add-ons developed for the accounts software making the system more flexible and a better fit around your company’s accounting and ERP requirements, these can be found in the Sage Marketplace.

Sage Intacct has many key strength’s and has won many awards and was voted best in its class by Gartner. One of its main key strength is its ability to handle Multi Legislation and Multi Currencies. The system also has a wide range of additional modules, such as its ability to integrate with Salesforce.

What Database Does Sage 200 and Sage Intacct Use?

Both Sage 200 and Sage Intacct appeal to many companies because of their ability to handle large amounts of data. Sage 200 uses Microsoft SQL whilst Sage Intacct uses Oracle.

Organise a Demo with X3 Consulting

Call us today to discuss migrating from your current Sage 50, Sage 200, Sage 300 to Sage Intacct for your company on 0845 094 3885 or email us at info@x3consulting.com. Our consultants will be able to provide full costings or payment plan for your business under our new ‘Buy it your way’ option.

IF YOU’D LIKE TO LEARN MORE, CLICK HERE OR TO ARRANGE 1-2-1 DISCUSSION WITH ONE OF OUR BUSINESS GROWTH CONSULTANTS CLICK HERE.

Or you can register for the online Sage coffee break demo by clicking this link.

Many small and medium-sized businesses rely on Sage 50cloud to meet their accounting and financial management needs. As one of the most reliable desktop accounting solutions, with a loyal base of customers, it’s easy to see why: For a lot of businesses, it’s the first and only financial management solution they’ll ever need. However, as your business grows and evolves, you might start to push the limits of Sage 50cloud.

As part of the Sage family, your growth and success are at the heart of everything we do. We want to ensure that you have the right solution to position yourself for success at every stage of your business. And for many Sage 50cloud customers, the solution has been to upgrade from Sage50 to Sage Intacct.

Built as a native cloud solution from day one, Sage Intacct has empowered thousands of global Sage 50cloud customers to work anywhere, anytime; close the books 80% faster; get visibility into key metrics in seconds; and consolidate all of their entities in minutes. But how can you tell if it’s time to consider migrating from Sage 50cloud?

Ask yourself, are you:

  • Producing more than 60% of your reports in Excel?
  • Managing two or more entities?
  • Spending more than 10 days closing the books?
  • Having difficulty accessing your system remotely?
  • Missing deadlines and increasing headcount because of manual processes?

 

If you answered ‘yes’ to any of these questions, it could be time for you to consider Sage Intacct.

 

The top five reasons to migrate

Over the years, we’ve talked with many customers that made the decision to come over to Sage Intacct. Through that process, five themes emerged as key drivers to move to the cloud. Let’s take a closer look at what they are.

1. You’re doing too much of your reporting in excel. Let’s start off by saying that the reporting that comes with Sage 50cloud is great at doing what it is designed to do. Financial statements and reports based on the chart of accounts? No problem. However, as the customers we spoke to developed a need for more complex reporting, they outpaced what Sage 50cloud provides. Additionally, they were unable to ‘slice and dice’ their data in the ways they needed, because they lacked dimensions and calculated fields. As a proxy for dimensions, some customers significantly increased their chart of accounts’ lines. While this may have helped for reporting purposes, it led to data-quality issues and difficulty tagging GL entries correctly. Without the ability to create calculated fields, they were unable to combine financial and non-financial data to easily see information such as revenue generated per sales rep. For these reasons, more and more of their reporting moved out of Sage 50cloud, until 60-100% of their reports were built in Excel. This caused delays, and in some cases missed deadlines, when generating reports for executives and the board. A position no one wants to find themselves in.

Key sign: A significant amount of your reporting happens in Excel.

2. Your multi-entity consolidations take hours to days. Developed as an on-premises solution, Sage 50cloud wasn’t built to handle the needs of organisations that often have multiple business entities. Customers mentioned that starting up a new entity often felt like a new implementation. Customisations had to be reconfigured, the chart of accounts had to be rebuilt, and all the entities were siloed off from each other. Because of that, inter-entity transactions had to be manually keyed in to ensure the books were balanced. Consequently, consolidations could take hours, if not days, to complete because the data from all the entities had to be exported and combined in Excel. These delays ultimately impacted the speed with which they could close the books.

Key sign: Your closing of books takes several days and you have more than two entities.

3. You need to access your system remotely.Numerous customers touched upon the flexibility of being able to work anywhere, anytime, as a big advantage when migrating to Sage Intacct. Previously, they only had two choices; work from the office or set up a remote-access server. The former often led to long hours and weekends away from their families, while the latter meant investing in the infrastructure and additional IT headcount to keep it up and running. As an on-premises solution in Sage 50cloud, as the number of users and transaction volumes grew, the performance of the solution began to decline. In order to try and improve performance they invested in additional servers and IT headcount to set-up and maintain them.

Key Sign: You’re forced to be in the office to work, your system has slowed to a crawl, or you’re not on the most current version.

4. Your integrations have been replaced by manual workarounds. A lot of small to medium-sized businesses aren’t looking to replace all of their business-critical solutions with an all-in-one suite. And, as is often the case, industries have specific needs that are only met by those best-of-breed vendors. When those systems aren’t able to communicate, integrations are replaced by manual workarounds. Many of the customers we talked to needed an easy way to connect all their solutions without the high costs often associated with this. Since Sage 50cloud runs on a server or computer that isn’t always on, and changes can be made offline, integrations become more expensive and difficult to build because it’s having to constantly check that all the systems are in sync.

Key Sign: Manual workarounds have taken the place of integrations.

5. You have unscalable, error-prone manual processesIt’s really easy for inefficient processes that work when you’re just starting out to gradually become ‘standard operating procedure’ even though they are unable to scale, often requiring you to hire additional headcount as your business grows. Without automation for processes like PO approvals, invoice generation, payment processing, and currency conversions, it’s easy to lose days of productivity to manual processes. For example, one customer we talked to had to print out and physically walk PO’s around the office in order to get all the necessary signatures. While another had their DSO increase to 50+ days, because they were manually generating invoices. These manual processes ultimately impacted their ability to grow efficiently.

Key Sign: Manual processes have become standard operating procedure.

 

Why Sage Intacct?

As part of the Sage family, your success and growth are at the core of everything we do. Because we deeply understand your world, we’ve been able to build an award-winning product. We’ve been voted number one in customer satisfaction by G2 Crowd and selected by the AICPA, who wrote the book on accounting, as their first and only preferred financial management solution. Furthermore, we’ve just received the highest rating for the lower midsize use case in Gartner’s Critical Capabilities Report for the fourth year in a row. So what are you waiting for? Let us take you on the journey to Sage Intacct where you’ll see business and efficiency improvements, including:

Multi-dimensional reporting

  • Get the reports you need in seconds rather than days with calculated fields and unlimited dimensions
  • Gain real-time visibility into key metrics with dashboards
  • Reduce audit times by up to 50% with clear audit trails and direct auditor access to reports

Built for the cloud

  • Anywhere, anytime access with 99.8% guaranteed availability and rigorous security certifications
  • Four feature-rich upgrades delivered automatically, every year
  • Modern cloud APIs for always-on integrations at a fraction of the cost of on-premises integrations

Streamlined multi-entity management

  • Consolidate hundreds of entities in minutes instead of days from a single instance
  • Close the books 80% faster
  • Set up new entities in minutes without expensive consultants

Automated, scalable financial processes

  • Grow revenue by 2-4x with little to no additional headcount
  • Automate PR, PO, and payment approval workflows, increasing efficiency by 50-90%
  • Reduce DSO by 30-60% and generate free cash flow, with automated invoice generation and payment processing

 

Conclusion

Sage Intacct offers organisations the solutions they need to gain new insights, simplify multi-entity management, work where and how they need to, and automate their key financial processes.

That’s why so many organisations around the globe, have already made the move from Sage 50cloud to Sage Intacct. They’re gaining better visibility, increasing flexibility, improving business and financial processes, and achieving a meaningful and measurable ROI.

If you’d like to learn more, click here or to get in contact with one of our business consultants to arrange discussion click here.

Alternatively you can watch a short overview by visiting our Youtube channel.

Or you can register for the online Sage coffee break demo by clicking on the link.