In recent years we’ve seen a huge shift in the way a lot of businesses operate. With the likes of remote working forced upon us initially, the notable benefits have meant that many businesses have adopted and embraced this new way of working, and have had to adapt their business processes to suit.
The need for businesses to be better prepared for the future has also never been more apparent. In the wake of unplanned events, business operations need to be transformable, and a blocker to agile transformation is that they’re often still using old technology. This restricts their ability to foresee problems, leaving them unprepared for future events. If this is the case for your business, it may be time to switch to new software that can help your business react effectively and efficiently and ensure you stay ahead of the competition.
Sage Intacct is a Cloud accounting solution designed to help growing and mid-sized businesses react positively and quickly to any changes. Here we explore some of the challenges that businesses are currently facing, and how Sage Intacct can help.
1. The switch to home working
One of the biggest changes recently experienced by businesses across the globe is the shift to remote working. This shift has caused huge challenges to business owners and HR departments, and has probably meant that your business now requires software that can be accessed from outside of the office. Many businesses are now finding that they need to migrate their software to the cloud due to the shift to remote working.
A lack of access to financial management systems outside of the office makes it impossible to work from home. However, Sage Intacct is hosted on the cloud making it accessible from anywhere, on any device with an internet connection. There are no internal networks or servers to connect to, and nothing to install or update, making it easy for anyone to access and use. Furthermore, all your data will be backed up automatically, and multi-user access makes it easy to collaborate online with your team.
2. Printing documentation at home
This is an issue linked to the first point: businesses are finding that a lot of their staff don’t have access to a printer when they’re working from home, so don’t have the ability to print documentation. This can create problems when it comes to tasks such as the invoice run and distributing invoices to customers.
Sage Intacct includes a ‘print’ function, which creates a PDF version of your files which can then be printed from any device with a printer attached to it. These PDFs can be distributed electronically, either via email or directly through Sage Intacct.
Not only does this solve the problem of printing limitations, it is also a good feature for any business that aims to go paperless in a bid to be more environmentally-friendly.
3. Unexpected business growth
While the last few years have been tough for businesses across the globe, many have actually thrived. And while unexpected growth is of course a positive thing, it can also suddenly highlight the limitations of your existing accounting software.
Businesses often find that old accounting systems don’t have the capability to input a large volume of transactions, and will start failing and slowing as accounting records grow. Old systems can also have limited flexibility, meaning they tend not to allow for further growth in future, which can restrict your ongoing success.
In contrast, Sage Intacct has immense scalability and can adapt with your business growth with no additional data usage costs.
Another issue that comes with growth is the requirement for more staff. Any business owner knows that staffing can be costly, but rather than rush to hire, business owners should instead consider upgrading their software first. Often, streamlining your business processes by adapting more up-to-date software could negate the need for as many new staff, and is a far more cost-effective option in the long-run. Adopting Sage Intacct could save your business time, resources, and money.
The need for better insight through reporting and forecasting
This issue can be linked to rapid company growth: businesses who have experienced growth, often find that new reporting requirements can also be a challenge. Businesses need to be able to adequately analyse data at transaction level to be able to produce the key reports that are required to run the company. If your current software doesn’t do this, it can create problems.
Sage Intacct offers configurable, real-time reporting and dashboards to allow analysis of your business easily and efficiently, allowing business owners to improve planning, predict more accurately, and make well-informed decisions.
Sage Intacct Implementation
One of the biggest barriers to businesses upgrading their software is that it feels like a daunting task, especially if you’re not sure how to implement the new software yourself in-house. Luckily, here at Phase 3, we have Sage Intaact Consultants who can implement Sage Intacct for you.
Phase 3 partners with Sage and Sage Intacct to provide a team for independent, specialist Sage Intacct consultancy, as well as implementation and training. We are also perfectly placed to help you get the most out of your Sage Intacct investment, and are independent consultants, meaning clients benefit from both our in-depth knowledge about Sage Intacct, and our objective perspective.
Phase 3 Sage Intacct consultants will support you to cover:
- Finance System Implementation
- General Ledger
- Purchase Ledger
- Sales Ledgers
- Reporting and Analytics
- Template Production
- System Administration
- Data Migration
- Integration with other Systems
- Project Planning and Management
- Balance Transfers and in year migrations
- Ongoing Maintenance and Configuration
If you’re considering updating your out of date software, don’t let implementation be a blocker to your ongoing and future success: contact a Sage Intacct Implementation Consultant for help and advice.