- May 2, 2019
- Posted by: Jelena Subasic
- Category: Intacct
*Google Image from sourcecon.com
Finance pros in professional and technical services companies who use Sage Intacct financial management software know what makes them happy—a modern, project-centric accounting solution that offers the automation, scalability, and visibility they need.
Just ask Debora Hester, business manager at GeoTechnologies, Inc. in Raleigh, North Carolina. “GeoTechnologies was using Microsoft Great Plains as its accounting software package prior to going to Sage Intacct,” she says. “It was a challenge as far as reporting on a project level and on a client level. It required exporting a lot of the data out to Excel multiple times and then merging that data together to be able to get the reports that we actually needed. That was a very cumbersome task.”
Sage Intacct users have many reasons to be happy. For project managers, there are four essential ones:
1) Increase business agility with a modern accounting architecture. Sage Intacct adapts to your optimal business structure and workflows, so you don’t have to re-implement software or rewrite custom code. Plus, Sage Intacct gives you the ability to manage, analyze, and present your financial information the way you want—without the external tools or complications to your chart of accounts.
Thanks to Sage Intacct, the folks at GeoTechnologies, Inc. have much greater flexibility and can work much more efficiently than before. “With Microsoft Great Plains, the reporting process was very tedious,” Debora says. “Now with Sage Intacct, we likely save about 15 hours a month on the reporting process. Our project managers can look at data in real-time now, instead of waiting for me to export all of that information out of Great Plains like I did before.”
2) Gain visibility through accurate, detailed project costing. Modern, project-centric accounting solutions like Sage Intacct let you track detailed project costing, so you understand the true cost of projects, see emerging trends, and budget properly. This information also helps you price projects and negotiate with vendors.
Sage Intacct’s dashboards feature is essential in gaining this visibility. “We have a dashboard made for each individual project manager, so that way they can not only look at their project information and see that they’re on track with what they need to be doing, but we also created financial dashboards and dashboards for collections so they can also keep up with the overall health of the company as well,” says Debora.
3) Automate project billing. When customers have precise billing requirements, you spend countless hours with numerous spreadsheets to track when to bill and how much. And if there are errors and delays, you’re at risk of revenue leakage, negative cash flow, and customer dissatisfaction. Sage Intacct delivers a flexible, configurable project billing process that integrates time and expense data, automatically captures billable and non-billable data, generates unified invoices, separates billing from revenue recognition, and other essential features.
4) Make informed decisions with project profitability insights. Sage Intact provides in-depth, real-time insight into the business, so you can capitalize on new opportunities or quickly take corrective actions. With a thorough picture of your financial performance, you’ll be able to identify the most profitable clients, true project costs, or costs per billable and non-billable employee. Features such as multiple operating dimensions make this possible.
If your business requires project accounting, consider Sage Intacct. “Being a cloud-based application, [Sage Intacct] was was a real selling point for us,” Debora says. “We actually moved our entire IT portfolio to the cloud, which saved us an enormous amount of money.”