Intacct for scaling software company
June 27, 2018
Intacct for scaling software company
Score 10 out of 10
Vetted Review
Verified User
Overall Satisfaction with Sage Intacct
Our company's finance department uses Intacct as our system of record and for financial reporting. We converted from QuickBooks to Intacct in 2009 to enable GAAP compliant revenue recognition. Our instance is integrated with Salesforce, syncing customer records and enabling one-click order entry. In past years we utilized Intacct's projects module to collect timesheets for labor allocation purposes company-wide.
- Intacct's Order Entry module with deferred revenue management and reporting is excellent.
- Intacct's standard ability book almost any transaction/entry against multiple dimensions and report on this data is extremely valuable.
- Intacct's financial and custom reporting has improved significantly over the years to the point where we've done away with many schedules previously only possible in Excel.
- Intacct's standard budgeting functionality is pretty basic and should be overhauled. We import data to the system for use in reporting, but their functionality does not meet our needs for ongoing forecasting or bottom-up budgeting.
- As a personal preference for support, I wish we could call in to get help when we need it. I say this knowing that submitting a case via online portal is pretty standard these days. However, we feel like we're paying for a premium service and the level of support doesn't always feel as though it matches.
- I do wish Intacct has an excel add-in equivalent in functionality to essbase. This would be a huge time saver when updating analyses which reference Intacct data.
- We would prefer the ability to backup our own data on at least a weekly basis as we do with Salesforce. Intacct does not currently provide a way to export all data and documents from the system.
- For a growing company, the cost of Intacct would not significantly increase even with additional users, so the value would increase over time.
- Intacct is a very good and scalable solution, however may not be suited as well for a very small company with upward trajectory as it is expensive compared to other options.
- Being on a combination of Intacct/Salesforce has enabled our company to go paperless within a couple years of implementation. The related cost savings in the areas of labor, office space, etc. are significant. We are a much lighter operation and much less dependent on any one physical location.
Yes, our company has benefited from Intacct's automation, especially in the area of order entry. We no longer have a long and manual analysis to conduct each month before recognizing revenue. Additionally, we no longer are shuttling paper folders of documentation for review/signature as in prior years thanks to electronic approval processes for timesheets, expense reports, payables, etc.
Extending the system to new modules and also removing modules from year to year if no longer needed is almost as simple as a checkbox. We use or have used almost all standard modules except multi-entity & global consolidations, and it is very useful to expand the solution as the business may require. For instance, we had a top-down initiative to justify labor allocations by product and customer. We rolled out timesheets in the projects module and were able to collect terrific data on how employees spent their time. This data was subsequently used in cost allocations.