Mid-sized and Multi-Entity? You should Take a Look at Sage Intacct!
July 24, 2018
Mid-sized and Multi-Entity? You should Take a Look at Sage Intacct!
Score 10 out of 10
Vetted Review
Verified User
Overall Satisfaction with Sage Intacct
We operate in a multi-entity and multi-currency Sage Intacct environment. It is used primarily by the Finance department, but our Sales staff also have access to reports and Customer info. It functions as the original source of record and ensures data integrity across our various entities. We also have APIs built to connect with our own proprietary software to avoid data entry mistakes and to streamline our accounting processes. We also have Sage Intacct connected to Salesforce so our account managers can help with our AR collections.
- Streamlines the month-end close by reducing clerical errors that result from rote data entry. The ability to build custom APIs is invaluable.
- The multi-entity features allow us to manage our aggressive acquisition strategy by allowing us to bring new acquisitions on to Intacct quickly and seamlessly.
- We have set-up rigorous approval chains within Sage Intacct that allows us to control who has the authorization to post which activities.
- The multi-currency functionality could use some work (as we are unable to post receivables to foreign currency bank accounts directly).
- The custom report writer is cumbersome. I do understand that a new custom report writer is in the works.
- We have been able to keep our team small despite having tripled in Revenues in 3 years. I estimate that it has saved us from hiring at least 2 entry-level data entry clerks
- We have been able to quickly onboard newly acquired entities onto Sage Intacct to stave off the limited visibility from running multiple accounting systems,
- We have reduced our closed time from 7 business days to 5 despite our high growth.
We pull our sales records from our proprietary software directly into the GL complete with order ID, tax info, and Customer data.
We send our vendors emails once they have been approved to pay.
Recurring transactions make managing multi-year contracts a breeze.
Deferred revenue schedules help us smooth our revenues on our consulting contracts based on time data.
We use all of the above with the exception of Contract Revenue Management and Spend Management to run our business. Each has provided countless improvements to our business processes. Every day we find new ways that Sage Intacct can work better for us.
There is no comparison between these 2 products. Sage Intacct blows them out of the water. The ability to customize the system to the specific needs of your business and stakeholders can't be compared.