Intacct - Efficient, Effective ERP/Financial Software
October 31, 2019
Intacct - Efficient, Effective ERP/Financial Software
Score 10 out of 10
Vetted Review
Verified User
Overall Satisfaction with Sage Intacct
Sage Intacct is used as our general ledger system, purchasing and collections, A/P, A/R. Global consolidations, collections, billing and deferred revenue reconciliation as well as financial reporting are the primary issues addressed.
- Global Consolidation and multi-currency - our company has multiple locations across the globe and Sage Intacct's global consolidation functionality allows us to consolidate books at the press of the button in very little time. This is crucial in helping us reduce our time to close.
- Deferred revenue reconciliation -- EXTREMELY important from both a balance sheet and income statement standpoint. Having the system prepare this has also strengthened our responses to audit requests.
- Ease of integration of acquired companies -- being able to upload data into a format that is easy to prepare has greatly enhanced our ability to on-board new companies as we have acquired them.
- Reduced time to close - -we cut closing from 5+ days to 2.5 days...every single month.
- Very disappointed that Sage Intacct required us to "upgrade" to Advanced CRM Integration module in order for Intacct to work with Salesforce's Lighting Interface. It felt a little like we were being held hostage by Intacct and were required to pay more for an integration we were already paying for and using - just with SFDC Classic.
- We have been less than impressed with Intacct's project support. Projects take longer than expected and multiple times we have had issues with Intacct PS delivering on things upon which we have already agreed.
- Configuring and implementing the electronic VAT module was less than a smooth process.
- Greatly reduced time to close from over 5 days to 2.5 days
Our organization has benefited from Sage Intaccts automated financial process in several regards:
1 - Time to close greatly reduced
2 - Cash Collections improvement
3 - Period end reporting
4 - Strengthened segregation of duties and SOX compliance
5 - ease of deferred revenue reconciliation
6 - strengthened audit response
7 - integration with CRM and professional services
8 - ability to easily integrate acquired company financial information and detail
9 - Error free, timely and quick global consolidations
10 - error free foreign exchange automation
1 - Time to close greatly reduced
2 - Cash Collections improvement
3 - Period end reporting
4 - Strengthened segregation of duties and SOX compliance
5 - ease of deferred revenue reconciliation
6 - strengthened audit response
7 - integration with CRM and professional services
8 - ability to easily integrate acquired company financial information and detail
9 - Error free, timely and quick global consolidations
10 - error free foreign exchange automation
Multi-Entity/Global Consolidations has been instrumental in reducing our time to close. This was absolutely critical because our parent company (being public) required a very quick close (2.5 days). There is no slack in that closing process, and not having to wait on Global Consolidations as well as having confidence that the consolidations are correct - every time - is a gigantic help.
I am not 100% sure why Sage Intacct was selected other than at the time we were owned by a private equity firm that was consolidating systems across all portfolio companies.
I am very happy that Intacct is the system that was chosen.
I am very happy that Intacct is the system that was chosen.