Financial Software that Starts with the Basics and Grows as You Grow
Updated February 19, 2022
Financial Software that Starts with the Basics and Grows as You Grow
Director in LegalNon-profit Organization Management Company, 51-200 employees
Score 8 out of 10
Overall Satisfaction with Sage Intacct
Our company implemented Sage Intacct in 2016 with a go-live date of July 1, 2016. We began with only a few departments utilizing its features, but have since rolled out all 11 departments. We have 5 Business Users and 20 employee users. Sage Intacct provides our entire company with transparency into finance and accounting, and allows us to budget, project, and reconcile our finances. We can easily track payables and receivables and we can rely on our employee users to help us with the items from their department that they are more versed in. The workload has been spread across multiple departments instead of on one person. We have established workflows for the proper approval prior to our department handling the payments/collections. Sage Intacct brought us from an out-dated product into the 21st century.
- Accounts Payable: we can see purchasing documents working their way through the approval process so we can project our upcoming payouts
- General Ledger: up-to-date accounting for budgeting purposes
- Custom Reporting: we can run ANY report we want, from various account groupings to customized date ranges
- Cloud-based service with multiple partners to create a well-rounded, one-stop-shop for finance and accounting
- We use Purchasing to allow our individual departments to enter their own invoices, including coding and memos. However, if the Purchasing Document is incorrect, the approver can only decline it and the submitter must re-enter the Purchasing Document again, as opposed to just updating the submission.
- We also use third-party software for Sales Entry, which allows our employee users to input their own invoices for accounts receivable. Because it is a third-party software, there have been no updates to the app, and we are running into issues where not all Sales Entries will process. Sales Entry is also tricky when it comes to using "&" signs or other symbols.
- We must convert PRs into bills to be paid. This process takes 6-8 clicks per PR/invoice, which wastes time for our Accounts Payable individual.
- Positive: we brought our accounting software into the 21st century! We were using an antiquated accounting system that only allowed print-outs of general ledgers and completely revamped our department with Sage Intacct.
- Positive: our members continue to request more transparency. Sage Intacct allows us to run any report requested for analysis. We can produce monthly, quarterly, and yearly projections, track receivables, and manage our vendors and customers.
- Positive: with the efficiencies provided, we've been able to reallocate resources within our department and meet other goals. Instead of hours to process checks, it takes less than an hour.
We are still implementing the automation aspects of Sage Intacct. We've set up a few recurring APs and currently love not having to remember to process them. We have also set up order management and we love the automation. The submitter submits the AP or AR and it flows to their approver. After approval, the AP or AR comes to the Business User to convert and send out. This automation has eliminated the paper process and time delays of the invoices sitting on multiple desks. The GL is automated via a standard report and it provides real-time data, projections, and numbers. Overall, we need to implement more automation, but currently, we are loving it.
We have not used any of these modules, but we have implemented Concur and Wipfli/Brittenford as a third-party connector. This has allowed us to take our paper expense reporting and automating it via online reporting and automatic upload into Intacct. This saves us days! We were used to a paper copy process with paper receipts and handwritten coding. We transformed that into a digital practice with real-time receipt imaging, coding, and itemizing expenses.
9: I would have to say that each configuration is unique and various factors play into its success (current state prior to Sage Intacct, staff capability to adapt, implementation team, implementation timelines, 3rd-party integrations, etc.). We worked with an amazing implementation team who held our hand for twice as long as implementation was supposed to take. We were coming from an old-school accounting system with sub-accounts being 6000.00 - account A, 6000.05 - account B, etc. We were revamping our entire chart of accounts to be consistent across departments while also trying to understand dimensions instead of sub-accounts and setup approval flows. We were also implementing a new expense software (SAP Concur), a new check-cutting process, and outlining multiple internal controls. I say all this to point out that we completely upgraded our solution and managed to survive the process. We were provided an implementation timeline and took the sections step by step. Each week revealed a new challenge or new idea but we were able to work through it with our implementation team. I give Sage Intacct a 9 out of 10 because there were some hiccups along the way that could have been better explained to us and we would have chosen a different path. However, now that we are configured, it would be very difficult to alter these now. However, overall, Sage Intacct was fairly easy to configure because we have help all along the way.
We liked the functionality of both programs and could have created a decent product with either option. However, Sage Intacct's third-party partnership capabilities took Sage Intacct to the next level. The fact that we could incorporate an expense software, a credit card payment feature, and many other applications convinced us that growing with Intacct was the right choice. The other competitors just didn't bring the functionality to the table as Sage Intacct did. We also liked the user-friendliness of Sage Intacct and the support provided on each page. Overall, Sage Intacct provided the best options for us to grow.
Sage Intacct is well-suited for our small company. We heard that is was for larger, multi-entity companies, but we were highly impressed with its capabilities that we chose Sage Intacct anyways. Sage Intacct provides us with everything we need and room to grow. Our goal in implementing Sage Intacct was to get our finances organized in order to provide for transparency and various projections. We are three years in and are still learning new things! The sky is the limit for what we can do with the system. I would say that if we were a smaller company I feel like the cost would outweigh the benefit. Not to say that Sage Intacct is expensive, but I think smaller companies lose access to it because they just wouldn't use it enough. Sage Intacct is also best used with one or more third-party connections (AMEX, Expensify, etc.) so I don't think a small company looking only for accounting software only would benefit.
Sage Intacct Feature Ratings
Electronic tax filing
Journals and Reconciliations
End-to-end order visibility
API for custom integration
Role-based user permissions