The role of finance departments, especially in small-to-mid-size companies, is dramatically changing. Traditionally theirs was a secondary role. They were locked into the tasks of keeping the books, paying the bills, and delivering historical financial information to executives. Moreover, they were bound by the constraints of using burdensome, non-integrated financial systems.
Today, because of the advent of fully integrated systems (some of them cloud-based and some of them on-premise) and their ability to access data from any web-enabled device, even smaller finance departments can stop spending most of their time on such tasks. Based on the unparalleled insights that come from having seamless integration, they can spend more time giving financial-management advice and identifying business opportunities. A CFO can become a strategic corporate asset to the company.
Want to take the complexity out of complex projects? Need to integrate projects with financials? Join us at this webinar and learn about a simplified day-in-the-life of a project-driven company using a cloud-based system.
Wednesday, December 18, 2013 10:00 AM Pacific Time
In this case study, Nucleus Research (an independent technology evaluator) tracks the deployment of Intacct for Renal Ventures, a dialysis services company. Nucleus Research found the implementation of Intacct cloud accounting resulted in increased productivity, improved reporting visibility and accuracy, and better positioning for growth. “By using Intacct, Renal Ventures was able to grow significantly without a similar increase in accounting staff,” the report states.
With new streamlined processes, one centralized chart of accounts for all their clinics (rather than needing several databases when they were on QuickBooks), free accessibility regardless of physical location, and other benefits, Renal Ventures realized a superior ROI (154%), paying back their software and services expenditures in one year with an average annual benefit of $163,412! These numbers are a direct result of Intacct enabling them to increase both their executives’ and accounting-team’s productivity and avoiding new hires in finance despite an increase in work.
To learn the details of Renal Venture’s major challenges, strategy, key benefits from Intacct, and how Nucleus Research calculated the ROI, download the full Intacct/Renal Ventures ROI Case Study.
ROI: 91% Payback: 8 months Average Annual Benefit: $47,039
We at Synergy, often speak of the strategic value a company should derive from a new financial management and project accounting system. Beyond tactical value—changes like new functionality and integration—new software should deliver improved productivity, reduced operational costs, a good Return on Investment (ROI), increased customer satisfaction, and capability for growth, among other benefits.
In this case study, Nucleus Research (an independent technology evaluator) tracks Canto’s (a technical professional services firm) deployment of Intacct cloud accounting to replace its existing on-premise ERP solution. The results? Canto realized a superior ROI, payback of their software and services expenditures in only 8 months, and an average annual benefit of $47,039! These numbers are a direct result of Intacct enabling them to reduce IT costs, increase revenue recognition efficiency, increase productivity of employees, and improve data management.
To learn the details of Canto’s major challenges, key benefits from Intacct, and how Nucleus Research calculated the ROI, download the full Intacct/Canto ROI Case Study.
Keep in mind, this still doesn’t quantify the full benefits. As the report states, “Not quantified was the additional benefit Canto received from having better management visibility into current operational data for decision making.”
The objective of an enterprise resource planning (ERP) solution is to unify and standardize business processes. This can be in financial management, project accounting, reporting, revenue recognition, and other accounting, sales, service, and customer management activities. Centralizing information makes it easier to collect, access, and manage data across the enterprise. Moreover, it helps businesses reap critical value from ERP through expanded visibility into data that can be used to better inform their business decisions and operational proficiency. But many businesses don’t realize how ERP is the key to their own business growth and efficiency.
For companies that have not implemented an ERP system, the top two reasons given are the perception that (1) the effort to implement is a daunting task and (2) the cost of the software and services is prohibitive. But for organizations that have implemented a best-in-class system, they realize these perceptions are not warranted. They discover there are several reasons a new ERP system is well worth it:
Any effort expended and cost are usually repaid with measurable and significant efficiency improvements. For example, Dynamics SL can deliver payback in as little as six months, and with Intacct Cloud financials, some organizations achieve payback in less than six months!
Many ERP solutions are scalable, allowing for incremental, phased rollouts.
A Cloud-based or hosted deployment of ERP results in lower total cost of ownership (TCO) and reduces the effort and cost of upgrades. With a Cloud-based system, it can eliminate upgrade costs entirely as they are included in the subscription fee.
With ERP, best-in-class companies are reducing operational costs by 20% and administration expense by 18%.
ERP provides the fiscal and operational system of record upon which you run your business. It serves to standardize, streamline, automate, and add visibility and transparency to your processes. In short, it empowers you to easily manage and make sense of mountains of data. To learn more, download the entire article, ERP: The Key to Growth and Efficiency.
We often hear attendees of our webinars and visitors to our website express their concern about putting their financial data in the Cloud. Some companies have already made up their mind. “Yes, we’re looking for a new system, but it can’t be cloud-based,” they say. Although there are good reasons for going with an on-premise solution in some circumstances, the truth is, most of the time people’s concern about cloud security is unwarranted.
If you’ve used Amazon, eBay, or Gmail, you’ve used a cloud application—very much like Intacct cloud-based accounting. The facts are in. Reputable cloud applications have better means to protect, secure, and back up your confidential business data than any small-to-medium company ever could in-house with an on-premise solution. For example, Intacct operates two redundant Fortune 100-class data centers and has built a specific set of operational characteristics that has helped to ensure the highest levels of availability, integrity, and security for customers for more than 12 years. Consider these guarantees:
99.8% or greater application availability; actual availability is much greater
In case of major disaster, applications will be up and running again within 24 hours
Continuous local backups plus streaming backups to a remote disaster recovery center
Last 24 hours of transactions continuously preserved in Oracle redo logs
Maintains SSAE 16 (upgraded from SAS 70) SOC1 Type II audited processes and controls plus PCI DSS certification
Monitors application performance and responsiveness constantly from around the world
Sometimes you QuickBooks ProAdvisors find yourselves in a bind. Most of your small-business clients love the ease and flexibility of QuickBooks, but some of your larger customers require more advanced functionality, automation, and financial controls. How can you help those larger businesses without losing them as a client?
One solution is to connect with Synergy. If graduating from QuickBooks is really in the best interest of your client, then considering the Intacct Cloud accounting system to replace it should be on their radar and yours. Last month, we shared the Top Ten Signs You’re Ready to Replace QuickBooks and how Intacct has been named “Best for Replacing QuickBooks” by Inc. Magazine, as well as being the preferred provider for the American Institute of CPAs. This month, we are announcing a special offer for QuickBooks ProAdvisors. You can earn a commission when you transition your clients who outgrow QuickBooks to Intacct Cloud accounting through Synergy.
Outgrowing QuickBooks? Why Thousands have Graduated to Intacct
Because it’s endorsed by the AICPA and has proven professional-strength capabilities, thousands of companies have moved from small-to-mid-market accounting solutions to Intacct Cloud Financials. The case for graduating to Intacct is even more compelling for QuickBooks users. Consider these ten signs you’ve outgrown QuickBooks. Intacct solves each of these issues. In your routine, you:
Manage inefficient manual processes that reduce productivity and introduce errors.
Lack timely information on critical business dimensions and must rely on manual workarounds.
Have limited visibility into consolidated and operational details.
Must depend on spreadsheets for reporting.
Need to become fully GAAP-compliant or just need more control and auditability.
Lack seamless integration with mission-critical apps, such as Salesforce, which increases manual tasks.
Have difficulty managing multi-entity and/or multi-currency issues.
Lack real-time visibility into project costs, revenues, and project profitability.
Have inefficient, manual revenue management processes and experience revenue leakage as result.
Inc Magazine named Intacct “Best for Replacing QuickBooks.” It’s widely recognized as the best accounting solution for QuickBooks graduates. Get resources on the hidden costs of QuickBooks and how Intacct makes you more productive and delivers between 200% and 400% ROI every year with a three to six month payback time. Resources for QuickBooks Graduates.
Intacct’s Buy with Confidence Commitment is the Strongest SLA in the Industry
Accounting software vendors typically don’t offer guarantees. Synergy and Intacct‘s Cloud-based financial management and accounting (including project accounting) are different. Because our Software-as-a-Service (SaaS) model means we earn our clients’ business every month, through Intacct, Synergy offers the industry’s strongest and most comprehensive service guarantee.
Outstanding Availability – Intacct has a 99.8 percent system availability commitment and usually achieves 99.97 percent. For each percentage point below the target, they offer a 10 percent credit up to 50 percent.
Disaster Recovery – Intacct’s Tier 1 data center is backed up by a global leader in disaster recovery. In the unlikely event that disaster strikes, your applications will be available within 24 hours while no more of two hours of data will be lost.
Immediate Notification – We promise prompt notification for changes to system availability and delays in new product features.
Rapid Response – We guarantee customer support acknowledgement within four hours and resolution or update within 24 hours.
Product Quality – Intacct guarantees the product operates as documented and a clear explanation of a reported issue and when to expect resolution.
Professional Service Quality – We ensure 10 percent fee reduction on late or over-budget services no questions asked.
Communication Excellence – Intacct promises regular communication on product release roadmap, new features, scheduled maintenance, etc.
You Own Your Data – If you decide to leave, Intacct helps you get your data out of their system and can preserve it on their system until you’re ready to migrate it.
Employee Commitment – Intacct compensates employees on satisfaction and success of customers.
A Better Way to Run Your Business – At Synergy and Intacct, we have a commitment to deliver superior financial applications and project accounting, real-time data visibility, an on-demand platform, easy administration and configuration, the highest rate of customer satisfaction, and the lowest total cost of ownership.