Review of Intacct from a CFO
June 29, 2018
Review of Intacct from a CFO
Score 9 out of 10
Vetted Review
Verified User
Overall Satisfaction with Sage Intacct
We use Sage Intacct across the entire organization. One of the key problems we were looking to address was easy consolidation of multiple companies.
- Intacct does a great job of consolidating the books for multiple companies. We set it up at the beginning and make a few changes when we add a company but otherwise we don't have to worry about it.
- We also have benefited from the ability to set up a separate set of books. Several of our insurance companies are required to prepare books based on the Statutory method of accounting. We are able to track this in Intacct whereas it was previously all done in Excel.
- Another one of the key factors that let us to select Intacct was the ability to set up a number of different dimensions to be able to slice and dice transactions and report on various departments and markets.
- One are that I think Intacct has room for improvement is in the area of ad hoc reporting capabilities. Intacct works very well for producing various financial statements and even has some flexibility to provide other reports that are useful for management reporting. However, the ability to create flexible reports and make changes on the fly is limited. I know the technology is out there to improve this area.
- Intacct has fairly good dashboards but there is not a good way to print them in a way that looks nice. There are several dashboards that I like to use for presentations and I end up taking screenshots and pasting them into PowerPoint which isn't idea.
- It's difficult to say that Intacct has provided a tangible return on investment. It simply does things that our prior accounting package could not do. So the main return is not financial but is that we are able to product better reporting .
We use the multi-entity and global consolidations modules. These have greatly improved the efficiency of our accounting team and make the monthly consolidation process a breeze. We have about 23 entities.
We previously used FinancialForce Accounting. It was convenient that it was on the Salesforce.com platform because everything else in our business is on that platform. However, over time those benefits were outweighed by its shortcomings. It was not a mature accounting platform and much of it's functionality was constrained because it was on the Salesforce.com platform. We have not tried to connect Intacct to Salesforce because of the unique customizations we have built in Salesforce but have been very pleased with the "upgrade" in our accounting platform by moving to Intacct. Our accounting team finds it much better for performing the core accounting functions.