If you just want to be a bookkeeper... don't read this...
Updated February 25, 2015
If you just want to be a bookkeeper... don't read this...
Score 9 out of 10
Vetted Review
Verified User
Software Version
Enterprise SaaS
Modules Used
- Purchasing, Order Entry. Inventory, Revenue, Accounts Payable, Accounts Receivable,
- Time & Expense, Avatax Integration, Salesforce.com Integration, Sandbox (PROD Copy),
- and Customization Services (Including Subscription Services)
Overall Satisfaction with Intacct
Intacct is being used accross multiple business functions. For example, being integrated to Salesforce, we give Sales and Sales Operations a 360- view of Sales Orders, Shipments, Invoices, and AR Balances on Accounts. Our Product Management Group is managing our PriceBook in Salesforce to ensure accurate syncing to our Items in Intacct. Manufacturing and Engineering use the Purchase to Pay cycles for budget management and Inventory status. We use the Shipment and Salesforce to manage Assets and Support from the Servicecloud in Salesforce. Lastly... all the approval workflows for expenses, purchase requisitions, and dashboards (budget vs. actual) are being used across all applicable departments for visibility to reporting.
- Transaction Definitions- This is a great element to Intacct. Being able to define the accounting within the purchasing and order entry workflows so that all the accounting is done behind the scenes... allows the finance person to spend more time on value- add work vs. posting debits and credits.
- Integration with Third- Party Apps- Salesforce, Avatax, HostAnalytics, Expense Cloud, etc... the list goes on. There are tons of third- party applications that bolt into an Intacct environment with very little work involved. Configuring these integrations for most of these applications can be done in days... not months!
- Intuitive use of the Product- The way that Intacct is designed to be used by the finance professional... is much more than just bookkeeping and reporting. If used correctly, we believe it becomes the hub of business information that can be used for so much more. Perfect example... the use of Statistical Accounts and natural accounts with the GL and dimensions... something other products don't even come close to.
- Inventory module- The calculator that runs valuation reporting in Intacct for perpetual inventory is somewhat clugy. Would love if I could get easy/customizable reporting out of this module. If I could relate data to Items/Inventory... might be able to do some integration with Saleforce as well... to give real- time inventory status information to sales users during quoting.
- Partial Shipments- The limitations to fix mistakes after a transaction has been posting in a partial shipment/backorder scenario... is something that can be difficult to manage. The inability to edit a transaction when it is part of a back- order scenario... can be tough to manage in the "real world."
- Revenue Recognition- Intacct does this very well... better than the competition... but again... real world scenarios of changes "after the fact" can make the automated calculation of RSP difficult. Would also be cool if Intacct could have a BESP calculating engine that could run analysis off of Order Entry data to support fair values for certain Items/GL Groups/Product Lines/etc...
- Efficiency (+)- As an early- stage Co, we are only a finance dept of 2. If I didn't have the Expense feature, purchase-to-pay, and ease of reporting... I would need at least another 1 to 2 FTEs. Do the math... this thing paid for itself in less than the first year.
- Value- Add (+)- Being integrated with Salesforce... it makes finance a valuable asset to the business as products, accounts, sales orders, shipments, and invoices... all are vested into reporting. This has allowed me, a finance guy, to dabble in Salesforce admin functions that allow me to stear a quote-to-cash process that can be (more) healthy for rev rec purposes.
This is not Quickbooks my friends... this is not Dynamics.... or a Netsuite. Intacct appears to be focused on being a cloud- based... well- rounded and intuitive business system built on new technology with lots of features and regular updates that are driven to the new- age of finance operations. If you want to be a bookeeper... don't buy it... because you won't get the value. If you want to be a business partner... go for it!