ROI is awesome and so is Intacct.
Updated June 17, 2014
ROI is awesome and so is Intacct.
Score 10 out of 10
Vetted Review
Verified User
Software Version
Hosted Accounting Software
Modules Used
- GL, AR, AP, Expense, Time, Projects, Dashboards, Ad Hoc Reporting, Order Entry, Purchasing
Overall Satisfaction with Intacct
We use Intacct across the entire organization. Even our interns log in to put their timesheets into the system.
Intacct addresses our revenue recognition issues that we were having with our previous system and since 2009 saved me from hiring another person for my team to keep up with all the work and spreadsheets we had. I believe that over the last 5 years we have saved well above $250,000.
Intacct addresses our revenue recognition issues that we were having with our previous system and since 2009 saved me from hiring another person for my team to keep up with all the work and spreadsheets we had. I believe that over the last 5 years we have saved well above $250,000.
- There are so many reasons why I like Intacct. The ease of use for our employees is probably one of my favorites. We are a growing software company and every new employee gets a sign in to Intacct so that they can enter their time sheets and expenses. Most employees need minimal training and some have logged in and gotten started without training.
- Another of my favorites is the dashboards and how easy it is to put a report on one and to make them look professional. We have dashboards for all department heads and even one that is for the typical employee. Now with the latest enhancements getting the most up to date and important info is even easier. The dashboards make me look good to my boss which is a great plus.
- The revenue recognition abilities is the main reason we purchased Intacct and the amount of time and the reduction of errors the system has saved us is priceless.
- If I could change something it would be to make Intacct more flexible. What I mean about this is that we are a small private company and some of the GAAP rules that Intacct has in place don't always apply to us and we would like to see more flexibility when it comes to being able to change or reclass entries in all modules.
- The other item I would say needs improvement is their Budget system. There are outside systems but I would prefer to use Intacct and it's easy interface to do my budget and reporting. I think some small improvements would go a long way. It almost seems that the budgeting was left behind. If you do a filter or a view and then edit and save an item then your view reverts back to the "all" view. This makes editing say a department very time consuming as you have to redo your filter everytime you save. Adding notes to budget items would be helpful. Adding attchments to budget items would be helpful. Adding the ability to calculate numbers based on another account would be great.
- The ROI is the greatest impacct, we were using Peachtree previously and had outgrown that product. Intacct gave us the ability to stop relying on spreadsheets to make our revenue recognition entries. This in turn gave us an annual ROI of around $50k because I was on the verge of having to hire someone to keep up with our growing revenue recognition issues. Since 2009 I have not had to add another employee to my department and I attribute that to the use of Intacct and the improvements they have made to their own product. Total savings to date is over $250,000
- In addition to the ROI, we have had employee efficiency because they have recurring templates so that we do not have to retype annual maintenance information, the template pops up and with a few clicks it is an invoice and in the customers hand.
- Finally, we just started using projects this year and it has decreased our errors in invoicing tremendously. Now employees put their time in, it is approved by the PM and then AR runs a monthly report and invoices all billable time. Before this AR would get random emails from different employees with time to invoice and there were always errors.
We were using Peachtree and Intacct beats them hands down. In Peachtree we had over 2000 GL accounts because each department/employee/customer you wanted to code something to had to be a GL account. In Intacct we have just over 250 accounts and unlimited dimensions. As time goes by and anyone comes up with some other way they want to keep track of revenue I can easily start a new dimension without having to add new accounts in the GL.