In the ever-evolving landscape of business technology, staying ahead is not just an advantage – it’s a necessity. As businesses grow and adapt to new challenges, upgrading to modern, scalable, and efficient financial management solutions becomes crucial. Sage Intacct, a cloud-based financial management platform, stands out as a transformative choice. In this article, we’ll explore why businesses should consider upgrading to Sage Intacct for a future-proof and streamlined financial management experience.
1. Real-Time Visibility and Decision-Making:
Sage Intacct offers businesses a real-time view into their financial health. Unlike traditional systems, where data updates may be delayed, Sage Intacct provides up-to-the-minute insights, empowering decision-makers to respond swiftly to market changes and make informed strategic choices. Real-time visibility is not just a luxury but a competitive edge in today’s fast-paced business environment.
2. Scalability for Growing Businesses:
As businesses expand, their financial requirements become more complex. Sage Intacct is built with scalability in mind, seamlessly growing alongside your business. Whether you’re a startup experiencing rapid growth or an established enterprise, Sage Intacct adapts to your evolving needs, ensuring that your financial management system remains robust and capable of handling increased data and user demands.
3. Automation for Increased Efficiency:
Manual financial processes are not only time-consuming but also prone to errors. Sage Intacct automates routine tasks, from data entry to reconciliation and reporting. This automation not only enhances the accuracy of your financial data but also frees up valuable time for your finance team to focus on strategic initiatives that contribute directly to the success of your business.
4. Comprehensive Reporting and Analytics:
Sage Intacct goes beyond basic financial tracking. It provides robust reporting and analytics tools that allow businesses to dig deeper into their financial data. Create custom reports, visualize key performance indicators, and gain actionable insights to drive your business forward. The platform empowers you to make data-driven decisions with confidence.
5. Enhanced Security Measures:
In an era where data security is paramount, Sage Intacct prioritizes the protection of your sensitive financial information. The platform is built on a secure cloud infrastructure, incorporating advanced security measures to safeguard against potential threats. Upgrading to Sage Intacct not only modernizes your financial management but also ensures that your data is handled with the utmost security.
6. Adaptability to Changing Regulations:
The business landscape is subject to regulatory changes, and compliance is non-negotiable. Sage Intacct is designed to adapt to evolving financial regulations, reducing the compliance burden on your organization. Stay ahead of regulatory requirements and minimize the risk of non-compliance with a financial management solution that evolves with the changing business and regulatory environment.
Upgrading to Sage Intacct conclusion:
In the digital era, upgrading to Sage Intacct is more than just a technological shift – it’s a strategic move to future-proof your business. Real-time visibility, scalability, automation, comprehensive reporting, enhanced security, and adaptability to changing regulations are all compelling reasons to make the switch.
Elevate your business with Sage Intacct and experience the transformative power of modern, cloud-based financial management. Don’t just manage your finances; excel in them.
Migrating to Sage Intacct
Why your business should migrate to Sage Intacct: Why You Should Migrate from Your Legacy Sage Software
Some companies swear by software that has stuck with them through good times and bad and prefer not to reinvent the wheel in favour of maintaining the status quo. However, legacy software systems just can’t keep up with the increased demands of growing businesses. While Sage 50, Sage 100, Sage 200, Sage 300, and similar legacy Sage software may serve companies well, upgraded versions like Sage Intacct are versatile investments to help your business scale and succeed.
If your business has experienced one or more of the following pain points, it might be time to speak with a qualified Sage partner about migrating your Sage software:
Finance works best when there is seamless collaboration between other departments and functions. Some accounting systems often aren’t well-integrated with other enterprise-level tools and systems. These limitations can leave you trapped in manual processes, spreadsheets, cumbersome workarounds, and slower workflows as you manage conflicting formats and rekey the same data in multiple systems.
Is it time to upgrade to Sage Intacct? Check the following signs:
More and more of your reporting is being done in Excel
As your business grows and develops a need for more complex reporting, it may simply outpace what Sage 50 provides.
For example, you may not be able to ‘slice and dice’ your data in the ways you need, because the software lacks dimensions and calculated fields. As a proxy for dimensions, some customers blow up their chart of accounts with many additional lines. While this can help with reporting purposes, it can lead to data quality issues and difficulty correctly tagging GL entries.
Without the ability to create calculated fields, you may be unable to combine financial and non-financial data to easily see information—such as revenue generated per sales rep.
For these reasons, many of your reports are being built in Excel—and that takes time.
You’re missing reporting deadlines
If 40% to 60% of your reports are being built in Excel, you may be experiencing delays (and in some cases missed deadlines) when generating reports for executives and the board.
Today, more people in your organization need better reports, and they expect those reports faster than ever in real-time dashboards that show key metrics and enable you to drill down for details.
The close takes more than 10 days and you’re managing more than 2 entities
Developed as an on-premises solution, Sage 50 wasn’t built to handle the needs of organizations such
as SaaS and Financial Services companies that often have multiple business entities. As a result, standing up a new entity may feel like a new implementation. Customizations have to be reconfigured, the chart of accounts has to be rebuilt, and all the entities are siloed off from each other.
Because of that, inter-entity transactions have to be manually keyed in to ensure the books are balanced, and consolidations take hours to days to complete. These delays ultimately impact the speed you can close the books, making it feel like a never-ending cycle.
You need to access your accounting system remotely
With on-premises software, you have two choices—work from the office or set up a remote access server. Given the current business climate, with so much uncertainty over when everyone will be returning to the office, your team needs to work remotely.
Truly cloud-based software gives you and your team the ability to work anywhere, anytime.
Improve productivity across your business by over 65% with Sage Intacct
Reduce time to close by as much as 79%
Achieve on average a ROI of over 250%
Your business is scaling but Sage 50 struggles to keep up
While it likely helped you to build the business, you may find Sage 50 is unable to keep pace with your current growth.
As you add business units and expand into new markets and geographies—or even add entirely new lines of business—you may feel your existing accounting software is holding you back. For example, you may be handling new subsidiaries with more currencies, tax jurisdictions, regulatory frameworks, sales channels, and product costs.
Manual processes have become standard operating procedure
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. When those systems aren’t able to communicate, integrations are replaced by manual workarounds.
Ready to Upgrade Your Legacy Sage Software?
Sage Intacct offers your organisation the solution it needs to gain new insights, simplify multi-entity management, work where and how you need to, and automate key financial process.
When the time is right for your organisation, you may want to consider moving on from Sage 50, Sage 100, Sage 200, Sage 300, and similar legacy Sage software to Sage Intacct. You’ll gain real-time visibility into financial data, better insight into operational KPIs and faster decision making—with self-service access, dynamic dashboards, intuitive reporting, slice/dice dimensional capabilities, and drill-down to source analysis.
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