Three kinds of companies often find Sage Intacct a perfect fit.
While Enterprise Resource Planning (ERP) solutions are designed with broad functionality and rich feature sets that allow them to be adapted to many different types of companies, every ERP solution seems to have one or more sweet spots – industries where it tends to excel (no pun intended as the goal is to reduce dependence on Excel). The real question is what do we consider to be the sweet spot for Sage Intacct – and why? We’re glad you asked.
Franchisees and Franchisors
Finding an accounting application that works on an individual franchise level isn’t particularly difficult, but the parent/child structure of a multi-unit franchise operation creates challenges when it comes to accounting and financial reporting. Similarly, franchisors need insight into the operations of each of their franchise operations, which of course are each separate entities of their own. Sage Intacct is an ideal fit for franchisors and franchisees for many reasons, including:
Easy consolidation: Sage Intacct makes multi-entity consolidations as simple as the push of a button, so you can close your books faster and view interim summary figures at any time. And every consolidation creates a detailed journal entry report, giving you full auditability and operational transparency.
Easy intercompany processing: Sage Intacct was designed to streamline multi-entity accounting. You can create user profiles to restrict user access to the specific entities and transactions relevant to their job. You can share vendor, customer, and item lists and charts of accounts across entities to speed new entity creation and facilitate cross-entity reporting. Streamline your payables function using a central screen, and automatically create due-to and due-from transactions between entities.
Multi-Entity, Multi-Location, Multi-National
In our global marketplace, business complexity continues to grow. Increasingly, multiple entities are under a single corporate umbrella, operating from multiple locations – and even from within multiple countries. For companies with these types of complexities, Sage Intacct is an ideal fit.
Using Sage Intacct, everything related to managing multiple currencies is automated to save you time and increase accuracy. Up-to-date exchange rates lead to currency conversions and revaluations that are right on the money. You choose your reporting currency and language. You tailor local account titles to fit local regulations. Plus, you’ll have instant access to currency gains and loss data, and you can produce reports in your headquarters’ currency or the entities’ local currency.
Healthcare organizations large and small face many challenges as they work to grow their operations’ profitably, while remaining compliant with a variety of regulatory changes. What makes Sage Intacct work so well for medical practice groups?
Many medical practices require the type of multi-entity accounting we describe above, which we’ve already explained is one arena where Sage Intacct excels. In addition, Sage Intacct makes it simple to centralize payable functions across the organization, eliminating the manual processes typically associated with payment processing and intercompany accounting. Sage Intacct allows you to track your financials as well as operational metrics and ratios – things like available capacity and revenue per treatment. With information like this easily at hand, you can compare financial performance across your locations and departments and ultimately share best practices to improve performance at every level of the organization.
Companies that sell software, including Software as a service (Saas), often have contracts with their customers – contracts that spell out specifics such as deliverables, terms, and timing. SaaS companies must track and bill for the software subscriptions they sell. A new set of complex regulations covering revenue recognition for these types of transactions means that accurate accounting is more important than ever.
Sage Intacct helps you automate subscription management and complex revenue accounting, while delivering deep insights into your organization’s financial and operational outcomes – so you can remain profitable, efficient, and in compliance.
Where do you fit?
Are you a company operating in one of Sage Intacct’s sweet spots? We’d love to speak with you to see what this powerful solution can do for you. And if your organization doesn’t fit neatly into one of the boxes above, that doesn’t mean that Sage Intacct isn’t still the best business management solution for you – it’s designed with broad flexibility and powerful functionality in mind. Contact us to learn more.