Entry-level accounting solutions like QuickBooks become very inefficient the larger your company grows. They have many hidden costs represented by a lack of automation, manual processes, reliance on spreadsheets, and little or no business insight, all resulting in poor productivity. When you switch to a modern, cloud-based or on-premise ERP system (such as Microsoft Dynamics SL or Dynamics 365), you leave those hidden costs behind while gaining new hidden savings. This is why calculating your return on investment (ROI) is so important when evaluating changing to a modern ERP solution. Learn how it works in this short video:
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.
To learn the specifics of how, see the Accounting Web article, How Chief Financial Officers Can Become Major Corporate Players. It identifies advantages of modern ERP systems like Dynamics SL or Dynamics 365 to free up CFOs.
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.”
*and make some money in the process
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.
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.