STOCK UP ON BETTER BUSINESS INSIGHTS AND PRODUCTIVITY
Using flexible dimensions like item, location, and warehouse, Sage Intacct financials for wholesale and distribution combines wholesale ecommerce and distribution data into a complete, real-time view of your company.
Deliver better financials for your wholesale and distribution business with powerful erp software from Sage Intacct. The wholesale distribution industry is seeing a consolidation at the high-end by Amazon and large public warehouses, who have the automation and scale to dramatically undercut small to medium-sized distributors on a cost per order and cost per shipment basis. Small and medium-sized distributors must add value (e.g., kitting, light assembly) beyond basic distribution to compete, which is where Sage Intacct comes in.
Over 106 years, warehousing and logistics provider Peoples Services has thrived by making it easy for its clients to store and move products.
Yet storing, moving, and utilising financial data was a challenge for the 700-person company. Reliance on an antiquated AS/400 system made it difficult for Peoples Services to manage financial data and leverage it to support informed business decisions.
That’s all changed since the Ohio-based company upgraded from the DOS-based AS/400 to Sage Intacct. Adam Herman, the company treasurer, offers a frank analogy for the switch:
“It was like going from the Wright brothers to the Apollo program overnight,” as Herman says in our new Peoples Services Case Study.
What if you could save 20 hours per month?
Peoples Services knew it needed to modernise financial management to improve efficiency, visibility, and data accuracy. After evaluating Microsoft Dynamics GP, Peoples Services selected Sage Intacct as its ideal cloud financial management platform.
Speeding the month end close by three days
Peoples Services, a network of third-party logistics (3PL) companies with 45 warehouses, 8 million square feet of storage space, and local truck transport services across seven states, has realized remarkable efficiency gains with its move to Sage Intacct. The company has:
- Eliminated 16 hours a month previously spent on journal entries
- Saved another four hours a month on consolidations across 10 entities
- Cut up to three days from month end close time
- Trimmed eight hours in annual budgeting with custom reports exporting to Excel
Plus, Peoples Services no longer needs to engage its original AS/400 programmer, a retired employee now working as an independent contractor, to administer and tweak the system.
“Our AS/400 had quite a bit of custom programming added to it over the years,” Herman explained. “We had to bring in our former in-house programmer as a contractor because if we needed something specific, he was the only one who knew how to do it.”
More Informed and Engaged Management
Instead, Peoples Services is taking advantage of Sage Intacct’s ease of use to provide personalised dashboards to about 36 managers. That equips them with on-demand access to timely information that’s building a more agile and data-driven business.
“Managers have the information they need right on their dashboards,” Herman said. “They can drill down on their own instead of calling us with questions, and that makes for a more informed and engaged management team.”
And each month, accounting couldn’t post journal entries until it had closed out its subsidiary ledgers, delaying the month end. “We’re now able to spread the work out more evenly over the month, instead of having this massive crunch when we start the closing cycle,” Herman said.
Transform your wholesale and distribution tracking and delivery with ERP and accounting software
Free up resources and improve productivity 20%-35%
In wholesale distribution, you need to keep a constant eye on supply chain operations. Whether it’s optimising product inventory, streamlining purchasing, or managing multiple business locations, Sage Intacct gives you complete visibility into real-time performance, automates complex processes, and easily adapts to the unique requirements of your wholesale distribution company.
A bird’s-eye view for wholesalers – with real-time dashboards and reports
Using flexible dimensions like item, location, and warehouse, Sage Intacct combines wholesale e-commerce and distribution data into a complete, real-time view of your company. Slice and dice that view by the performance drivers that are relevant to your wholesale distribution business. See daily logistics like product shipments and customer returns. Monitor inventory velocity to identify hot-selling and slow-moving products. And get complete profitability reports on margins, shrinkage, shipping errors, and stock-outs.
Scale your distribution business with confidence
As your wholesale distribution business grows, your cloud financials can adapt and grow with you – without adding IT resources. Add and report across multiple locations, warehouses, and entities – and consolidate those financials on demand. That lets you share information across your business, while efficiently managing multiple locations, warehouses, currencies, and international operations – with no added headcount.
Streamline warehouse management
Sage Intacct cloud-based financial management adapts to your wholesale business – now and in the future – to cut order-processing costs by 20-30%. Streamline your approvals, generate stock orders, trace inventory, and more. With Sage Intacct, your distribution business gets more done, without the spreadsheet hassles and without hiring additional finance staff.
Don’t let legacy systems hold you back
How many units shipped last month? What’s your most popular item? Who’s your best customer? Which warehouse sees the most turnover?
For distributors still using disparate legacy systems like spreadsheets and homegrown databases, getting answers to these questions in an efficient and timely way can be much more difficult than if they were using ERP and accounting software. Register for our coffee break demo ad we’ll send you a little treat!
Customers and leading research organisations agree that Intacct’s position as market leader is well deserved. The system consistently adds significant value by automating complex business processes, reducing manual effort and empowering decision making.
By providing rich financial and operational insights, Sage Intacct can help drive your business growth. A typical example of the impact of this leading accounting and financial management system is that many organisations have been able to reduce their period end close time by 79%, helping them focus on what’s really important.
Built for finance, by finance; Sage Intacct has 4 main features providing the best software solution for accounting…
1. Core Financials – Powerful automation of complex processes and multi-dimensional data analysis.
Accounts Payable – Streamline your workflows across the AP cycle and gain real-time visibility with 24/7 access from any device with an internet connection. Save thousands in pounds and hours by automating manual accounts payable processes and eradicating inefficient workflows.
Accounts Receivable – Automate your processes, email your invoices and offer a variety of payment options. Gain the ability to generate recurring invoices for easy subscription management, attach customer documents to transactions for better record keeping, and so much more.
Cash Management – Improve your cashflow by accessing a complete picture of your cash footprint and working capital. Always be in control of cash, and for easier management, import statements from your financial institutions and automatically reconcile your current, savings and credit card accounts in minutes.
General Ledger – Benefit from multi-entry, multi-dimensional financial visibility, scalability and flexibility to thrive without limits. View reports and dashboards across any combination of drivers and metrics. With dimension values you can capture the unique business context of transactions, operational measures and budgets, and see the most relevant views of business performance.
Order Management – Save time, improve accuracy and increase profitability. This software removes manual work from multi-channel order management and can adapt to your unique workflow and pricing requirements. Data automatically flows to order fulfilment, billing, revenue accounting and more.
Purchasing – Radically reduce invoice-to-payment time by 50% and eliminate hours of monotonous transactional data entry. Create structured, predefined transaction and purchase approval workflows that increase purchasing speed, accuracy and efficiency. With a comprehensive suite of dashboards and reporting tools you can monitor budget versus actuals, analyse costs and gain visibility into your entire procure-to-pay cycle.
2. Advanced functionality – Everything you need to increase productivity, make timely decisions and drive your business forward.
With additional modules, you’re always ready for what’s next.
Fixed Assets – Fixed assets and core accounting create an automated asset management system.
Inventory Management – Track, value and manage stock while maintaining accuracy at every step.
Multi-Entity and Global Consolidations – Easily manage complex financials for multiple locations and entities.
Project Accounting – Manage costs and revenue, keep projects on time and maintain profitability.
Revenue Recognition – Account for multiple revenue types such as subscriptions, licenses and services.
V.A.T. – Automatically calculate VAT (UK) or Sales Tax (US) with a built-in Avatax integration.
Spend Management – Govern company purchasing versus budget and never exceed spending caps.
Time and Expense Management – Keep your team focused on client goals, rather than tedious administrative tasks.
Vendor Payment Services – Power payments on American Express Global Commercial Services’ platform.
3. Dashboards and Reporting – Financial dashboards and reporting software that turns data into insight
Sage Intacct’s innovative general ledger includes 8 dimensions to capture the business context of your transactions, operational measures, and budgets. That means you can quickly access or create reports that analyse real-time business performance by business drivers – without managing a complex chart of accounts.
Our 8 predefined dimensions are ready to go out of the box, including department, item, and employee. And it’s easy to add more dimensions to reflect unique business drivers and take your financial reports to the next level.
Best-in-class financial reporting platform – With Sage Intacct’s financial reports, you get the agility and flexibility to quickly slice-and-dice the details that matter to all key stakeholders: investors, executives, sales, finance, and other departments. And when you have new questions, dive deeper with custom reports, dashboards, or visualisations. Reach peak performance with fast answers for confident decision-making.
Improve business agility – Most financial management systems can only handle financial data, but Sage Intacct tracks and reports both financial and operational data—like square footage, available hospital beds, SaaS metrics, or other granular measures that matter to your business. With all your financial and operational data in one place, Sage Intacct’s best-in-class multi-dimensional visibility enables you to slash time spent checking the accuracy of your financial data so you can start making strategic decisions that will impact your business.
Financial Reporting – With Sage Intacct, financial reporting and analysis options are almost limitless. Compare operational statistics with financial metrics. Check summary roll-up figures for multiple entities — veven if it’s only mid-month. Drill down to source transactions for granular transparency instantly. Flag trends and spot exceptions with powerful report visualisations. With Sage Intacct dashboards and reporting, you can compare performance across any business driver that matters to you. You get 150 built-in financial reports as well as the ability to easily create custom reports. Forget Excel reporting, waiting for customised projects, or relying on external tools.
Deeper insights – Sage Intacct’s interactive custom report writer lets you easily create real-time reports that tackle your toughest reporting needs. Get the insights you need in seconds to address complex issues and respond to market changes. Start with hierarchical field selection, drag-and-drop design, and automatic conditional formatting, grouping, and subtotals. Then go to the next level with calculated columns with calendar and math functions, conditional logic, rolling sums and aggregations, and pivot tables. And when you need specifics, just drill down to transaction details.
4. Billing – Untangle billing and revenue complexities
When it comes to subscriptions, specialised contracts, and recurring billing services–and the added complexities of revenue recognition compliance–Sage Intacct is the cloud financials solution finance trusts. We provide the automated workflows, smart revenue recognition, and seamless data flows that streamline the revenue cycle across your organisation.
Contract and subscription billing – Streamline workflows across the AP cycle with exceptional speed and efficiency.
Project costing and billing – Bid smarter and bill faster with less revenue leakage.
Revenue recognition – Automate complex revenue accounting, configure expense amortisation and more.
Why choose Sage Intacct Software for Accounting?
Leading cloud accounting and financial management solution, Sage Intacct, helps Finance Managers and CFOs access integrated management and financial reporting across their business entities allowing you to focus on growth and drive. This unique software for accounting solution provides the automation and controls around billing, accounting and reporting, whilst eliminating errors, allowing you to stay audit-ready and focus on what’s important to your business.
At the heart of Sage Intacct is customer success. On the leading business software review platform, G2, (formerly G2 Crowd), Sage Intacct has the highest customer satisfaction score for both accounting software and ERP Suites.
Are you interested in Sage Intacct and want to learn more? Why not take a coffee break demo today or contact us by email at firstname.lastname@example.org to speak to one of our consultants.
If you’d like to find out more about choosing the right software for your accounting business, why not download our 2020 Buyers Guide, the ultimate guide to accounting and financial management software. Fill in the form below and we will email you a copy of the white paper.
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