Sage Intacct is a cloud ERP system targeted at high-growth small and medium-sized businesses. Intacct includes applications for core financials and accounting, purchasing, order management, and financial reporting and business intelligence. It also integrates with 3rd party software like Salesforce.
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Oracle Textura Payment Management
Score 9.5 out of 10
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A construction payment management application that helps general contractors, owners, and subcontractors simplify and automate the draw process. Reduces risk by securely managing lien waivers and compliance. Increases visibility to downstream payments to minimize the risk of disruption and ensure the entire supply chain is paid on time for work completed.
Sage Intacct is great for companies that have a bunch of subcompanies, like we do. Unfortunately, it's not extremely convenient if your company is a solo small company, as the website can be overwhelming and not suit their particular company needs. The vast amount of reports and options are simply not needed.
For a GC that wants to make things easier for both the themselves and all subs, this is absolutely the best solution out there. Some GCs still approve changes using purchase orders rather than change orders and allow invoicing to occur at any time during the month However, they should change their process to align with Oracle Textura Payment Management's draws. Without a draw process and confirmed invoice submission along with ACH payments, we have had invoices lost, payments lost, and time lost from having to track all of it. I can't think of a reason it would not be appropriate.
Custom, real-time financial reporting. I am able to streamline my reporting to pull in various account groups and calculations which save me time from having to do it in Excel.
Out of the box standard reports for clients who don't require as custom of reporting or even as a great starting point to build out reports.
Integrations with other platforms, such as Airbase, various banks, Rippling, etc.
The dashboard module is extremely helpful in my monthly review of various entities.
Task Management needs a "Mark all as Read" or similar function. They pile up per job and are only able to be completed using certain links and processes.
Payment Notification emails should include payment details including amount(s), joint check info, and check numbers.
Projects should be able to be removed or archived by the subcontractor. We have jobs showing on our home page that are 3+ years since completion.
Retention billing is very confusing and should be communicated more clearly. There should also be a button that allows for all retention to be billed at once rather than having to type in the amount per line item.
Sub-Tiers should not be a menu to click through if there are no sub-tiers for a sub.
Sage Intacct is continuously evolving and increasing it's functionalities. I am excited to attend conferences to learn what is in the roadmap for future releases. Additionally, using Sage Intacct allows me grow as a professional, I am really enjoy the knowledge that I have within the product to be able to share my experiences.
The ease of use as a seasoned user is wonderful; however, new users struggle to adapt to the program efficiently. Better training videos--all in one location--would be beneficial. The use of a "sandbox" environment is a great tool for new employees or for the fiscal department to test certain journal entries or other transactions to verify accuracy of data.
Although there are minor improvements to be made, Oracle Textura Payment Management is far and away the easiest payment solution out there for any invoicing procedure that requires monthly draws.
There has only been one occurrence where Sage Intacct was not available to me, however I had already been working a number of hours trying to get a project completed. It honestly allowed me to step back and take a much needed break.
As fas as integration is concerned I don't feel this slows Sage Intacct down at all. However, sometimes I do feel it takes some larger reports more time to load due to all the detail. As well as, I "move very fast" in my motions so sometimes I double click on fuctions too quickly and the system seems to think that I have a duplicate request.
Only a few times have we had to reach out to support, and every time we did, we received a relatively quick response and a solution was found fairly quickly. Only once was there an issue that took longer than a week to resolve, but it still did eventually get solved.
I have taken in person training classes at several of the annual Sage Intacct user conferences. It is very interactive and the trainers are very easy to follow and understand. They are great at getting everyone in the class involved. They also make sure everyone has learned to task before moving to a new one.
The free training is very minimal. For what we pay for the service, I would like more training. We end up training new users in-house because the provided free training is not nearly comprehensive enough. That being said, the training provided, for the material covered, was adequate and relevant for the given topics.
I would not use a thrid party administrator to implement your system, especially if you are going to be modifying the system at all. Use Intacct implementors as they will be able to better support you on any issues that come up after you go live.
As a CPA in public accounting, I was exposed to many systems. I was in on the ground floor with the implementation of NetSuite for a client; it was clunky, the reporting was ugly, and it wasn’t user friendly. Sage Intacct is a great option for mid-size organizations who have outgrown Quickbooks.
Oracle Textura Payment Management is better and more refined than similar products. Procore has a ton of other useful features and GCPay is straightforward with a simple UI. Like most things in tech, it comes down to user base and Oracle Textura Payment Management has the most jobs of ours using it meaning it has the biggest positive impact on our business.
Sage Intacct has made a very positive impact to our business objectives; it has provided strong ROI through automation features that reduce manual data input and associated risk of error, enhancing accuracy and operational efficiency.
It empowers us to make data-driven decisions that further refine our strategic plan by bettering the process of financial close with real-time and detailed reporting.
This also extends to multi-entity management, which eased consolidation and thus supported growth and scaling. This feature-rich software finally serves to drive productivity further and facilitate resource usage.
Oracle Textura Payment Management has dramatically improved our AR process (when the GC uses it). We wish that every job used it so we wouldn't have to deal with the dozens of builder-specific invoicing processes each month. Before Oracle Textura Payment Management, each builder had specific process we had to follow in order to get paid. After GCs started to use it, we have been able to consolidate multiple clients and jobs into a single easy-to-learn and easy-to-teach process that allows us to submit invoices easily and track when we are going to get paid.
