- July 11, 2017
- Posted by: Catherine Cottingham
- Category: Franchises, Intacct, Nonprofit, Professional Services, SaaS
When businesses start to feel the squeeze from outgrowing their current software applications, typically, they start examining their options. However, as they begin research, they realize that not all accounting software is created alike.
That’s why companies come to us for help. If you’re tasked with choosing a software that can manage your unique workload, and still adequately handle current or upcoming expansion, you don’t want to find out down the road that the software you chose isn’t a good fit for your company.
Because none of us have a crystal ball, our team of experts made up of seasoned controllers and certified accountants guide businesses faced with the challenges of development. So let’s break it down: Microsoft Dynamics 365 versus Intacct. For your business, which is the better choice?
Between Intacct and Dynamics 365, Intacct wins in experience. Both are close in comparison to core accounting features, however between the two, Intacct holds the AICPA endorsement, while Dynamics 365 does not.
Further, while Microsoft rightfully commands respect and has a long-standing reputation when it comes to office suite software, its cloud-based ERP offering is just getting started. Intacct, founded in 1999, has been pioneering SaaS and fine-tuning its offerings for over 18 years. Microsoft Dynamics 365 released in November of 2016. With any new release, clients should expect that added time and patience may be required, as the new product irons out the kinks.
For companies that are dealing with their own growing pains, a tried-and-true leader in the industry is going to offer more substantial support, when expanding companies and franchises need support the most.
While Dynamics 365 and Intacct are both geared toward accounting processes, and both offer an ease-of-use interface based in the cloud, proactive accounting and finance teams need options and flexibility to evolve their financials with the business.
Intacct software offers a great deal of flexibility in reporting and in entering items in the general ledger. With Intacct, users can tag items for endless depth of detailing with the Dimensions module, and can sort and categorize with up to 25 user-defined fields. Dynamics 365 does not offer the same flexibility of user-defined fields.
Your team may not know exactly how much versatility they may want in 5 years or even 3 years, but regardless of where the company goes, you will still need a software that can sustain performance.
Forward-thinking businesses need up-to-date solutions that won’t cut them short on what they can do in the future. In response to the online marketplace, companies of all kinds need software that will accommodate multi-currency conversions and true intercompany transactions.
Many software options handling intercompany transactions with journal entries and reporting, however, Intacct is the best-in-class leader in multi-currency conversion capabilities, and true intercompany transactions with simplicity and ease-of-use.
Dynamics 365 is ideally designed for the small or medium business. That means somewhere down the line, if your business plans on growing, or expects dealing with more complex intercompany financials, their stand-alone software may cease to be effective for your financial needs in the long-run.
Intacct, a best-in-class cloud accounting solution, specializes in customizable options, and lockstep scalability. It offers time-tested, AICPA endorsed cloud accounting excellence with one-click global consolidations, and seamless integration with other best-in-class cloud solutions.
Whether your business works across town, or across continents, your software needs to do the same. If your teams are wrestling with workarounds, and spending too much time struggling with month-end processes, tedious data collection and ill-fitting software set-ups, it’s time we talk.
Let our team guide you toward the best option that’s a flexible fit for your company and its changing needs.