AcctTwo Blog

Sage Intacct Reduced Month-End Close by 60%

August 06, 2018
Posted by: Kate Johnson

Category: Software, Accounting

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The client provides cloud-based technology and software solutions to healthcare providers in the U.S. The company’s accounting department also serves as HR to their 130-employee company. The organization was outgrowing QuickBooks. The majority of their processes were either manual or done utilizing Excel. Excel was problematic for revenue recognition, it was a tedious process and prone to human error.

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QuickBooks didn’t allow them to create the reports that they needed to deliver to the executive team. They had to export the data from QuickBooks into Excel and apply at least 4 manipulations before they could create departmental reports. The business had been doing the same processes for 15 years, they needed to break their pattern and find a more efficient way of operating. They needed a more robust accounting solution that would allow them to:

  • Streamline accounting processes
  • Develop custom revenue recognition workflows
  • Reduce the use of Excel
  • Provide dynamic reporting capabilities
  • Work in a cloud-based environment

Finding the Right Solution

The business selected Leap the Pond to implement Sage Intacct, a cloud-based accounting software solution. Sage Intacct allows them to customize and adhere to their specific software industry needs (i.e. unique contracts and numerous revenue streams), significantly improve their accounting processes, and deliver real-time reporting with the use of dashboards.

Seeing Results

Leap the Pond helped the company stay on schedule and implement Sage Intacct in a matter of months. By eliminating the manual processes involved with Excel and QuickBooks, the organization has greatly improved their departmental efficiency. Their accounting department is a 4-person team, and in addition to accounting responsibilities, they also manage HR for the 130-employee company. “Before Sage Intacct we were struggling, but after implementation we have dramatically improved and streamlined our accounting processes. It used to take between 10-15 days to close the month and now it only takes 4. This allows us to make better business decisions because we have timely data,” Controller.

Moving to a cloud-based accounting solution was a significant upgrade for the company. In addition to having access to their financials anywhere anytime, they have:

  • Reduced month-end close days by 60-73%
  • Automated unique revenue recognition workflows
  • Simplified and streamlined key accounting processes
  • Implemented Concur’s Expense Connect – Sage Intacct integration for expense reimbursements, as well as ADP for payroll
  • Created tailored reports and dashboards to fit their specific needs
  • Utilized Sage Intacct’s Projects Accounting Module for Billing, eliminating manual effort and allowing the company to bill at least 2 days faster 

“Our CFO never went into QuickBooks, now with Sage Intacct, he loves to access our financials while traveling. He has better access and a real-time perspective to our fiscal health.” Sage Intacct gives the organization the opportunity to grow their business without the worry that they’ll outgrow their accounting solution.

 


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Rapid Ratings went live with Sage Intacct in October 2015. During the implementation of a new accounting software solution, it is common to evaluate internal business processes. After reviewing their cash-to-order process they wanted to reduce the manual effort surrounding the invoice creation process. Read more > 


4C Insights was outgrowing QuickBooks and Exact. This became clear when they acquired Teletrax and added a global element to their business. Going global and expanding brought on a new set of challenges. Read more >


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