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WannaCry: Yet Another Example of Why SaaS Is the Best Answer to Security Questions

We've written before about ransomware attacks back in February of 2016 and again in April of that year. In those cases, the attacks were relatively small and isolated to individual hospitals or healthcare networks. The recent "WannaCry" attack that began on Friday, May 12, however was massive and was reported to have infected more than 230,000 computers in over 150 countries. The attack was aimed at Windows operating systems, particularly older versions. For the uninitiated, ransomware is a malicious software virus that blocks access to the infected computer or network's data or threatens to publish or delete it until a ransom is paid, often in the untraceable cryptocurrency, Bitcoin.

Topics: Cloud Computing / SaaS cyber-attack cloud adoption ranswomware

Why In-Memory Databases Are Now Essential for ERP

In layman's terms, an in-memory database is simply a repository of data that does not rely on disk storage. Instead, the data is stored in the main memory, closer to where the actual processing takes place.

This is not a new technology. However, where an in-memory database may have been an optional consideration in the past, it’s now considered essential for enterprises that manage a lot of data and rely on complex analytics. But smaller companies and nonprofits now have access to a lot of data as well, and if they want to remain agile, they need to be able to analyze that data in real-time.

Topics: ERP Business Intelligence / Analytics Analytics-as-a-Service In-Memory Database

Survey: Closing the Books Barometer - Q1 2017

The goal of this survey was to investigate the use of multi-entity structures across multiple verticals.

This survey was inspired by a series of interviews with thought leaders from the asset management, family office, private equity, and accounting spaces. Those interviewed highlighted the acceleration of the diversification into alternative or illiquid assets such as real estate, infrastructure, private equity, hedge funds, or private debt, potentially across multiple geographies. This is driving the widespread recognition of the need to protect your organization through not only more legal entities but also more complex legal structures. Previously, this was the preserve of large or sophisticated firms and nonprofits. What was clearly a major trend was the shift to this strategy even by modestly sized organizations. Lawyers, tax accounts and auditors agree that the effective utilization of this strategy is fundamental to the protection of assets, acquisition of assets, and the sale of assets.

Topics: financial close General Ledger and Month-End Close Multi-Entity and Consolidations

The Top 4 Challenges of Church Finance Departments...and Their Solutions

Glen Strack is a Professional Services Manager at AcctTwo. As an accountant, programmer, and Intacct reporting and implementation specialist, Glen has more than 25 years of experience in finance and technology. He has specific expertise in church finance and has held financial analyst and finance director positions at two churches in the Dallas/Fort Worth area. Glen’s technical expertise, his experience with Intacct, and his deep knowledge of church and non-profit finance makes him an invaluable asset to AcctTwo’s implementation team.

Topics: church accounting church ministry

White Paper: Aligning Sales and Finance - No More Compromises

The Business Case for Integrating Salesforce CRM and Cloud Financials

Bringing Sales and Finance Together

ERP and Salesforce needn’t be isolated islands of automation. Sensible, efficient integration is not only possible – it’s becoming a near-mandatory requirement for a growing number of organizations. And it’s possible today. Intacct’s acclaimed cloud ERP solution works seamlessly with Salesforce for sales/finance automation and visibility.

Topics: Intacct eBook White Paper Salesforce Integration

Machine Learning – Unlocking the Full Potential of Accounting

Despite all the technological progress that has been made over the last 150 years, accounting has changed very little. The daily work of most accountants involved massive amounts of data entry, clerical work, and administrative routines. Spreadsheets may have replaced ledgers, but the role of the accountant never really evolved.

That is quickly changing with the advent of machine learning. This 21st century technology is still in its infancy, but already it’s having an impact on the accounting profession that is broad and deep. As the potential of machine learning continues to advance, look for the expectations of accountants to change radically.

Topics: Automation and Workflow process automation Finance Automation Machine Learning

Success Story: Seacoast Church Uses Intacct to Manage 13 Campuses

13 campuses, 25 funds, 80 departments — and lots of accounting challenges

We're always proud of the work we do and the relationships we build with each and every one of our customers, but when we get feedback years down the road and get to hear how transformative Intacct and our implementation team have been, it's very special. Seacoast Church, an AcctTwo customer in the Carolinas, recently contributed to a story in Church Executive Magazine about how the multi-site church, with 12 physical locations and an online campus, needed a powerful accounting tool that could provide consistent financial reporting across locations and ministries.

Topics: Not-for-profit Industry church accounting Faith-Based Financial Reporting Fund Accounting

How BPaaS Empowers You to Thrive with Fewer Accountants

Corporate accounting practices have always been under scrutiny, but in recent years, regulators have stepped up their efforts and looked a lot closer at enterprises regardless of size or vertical. In response, these enterprises have had to bring accountants onboard with the technical expertise to ensure compliance and establish internal governance.

Topics: FAO bpo Accounting BPaaS Busines-Process-as-a-Service

Is Your Mission-Based Organization’s Growth Hiding a Dark Secret?

The goal of any mission-based organization is to grow in influence and have a greater positive impact on the world. However, when growth does begin to ramp up, it’s both an achievement and an obstruction.

With growth comes complexity. Everything from staffing to operations to marketing becomes more challenging. But accounting is the area where the stress is felt most acutely.

Mission-based organizations that rely on a simplified approach to accounting quickly discover that approach is ill-equipped to serve the needs of a larger and more complex organization. Individual accounting processes may work, but they do not communicate and cooperate in a way that the demands of enterprise accounting require.

Topics: church accounting non-profit not-for-profit Mission Organization

The 2017 Buyer’s Guide to Accounting and Financial Software

In today’s complicated business climate, is your accounting software helping you grow and compete—or holding you back? 

Financial leaders today balance the need to manage an increasing level of business complexity with the need for speed. You’re expected to keep your eye on multiple entities with multiple regulatory frameworks and multiple currencies. Think that’s complicated? Now add frequent change to the equation. A monthly financial check-in isn’t good enough for today’s CFO. You need the agility to make decisions at a moment’s notice—and those decisions must be based on the real-time financial truth.

Here’s the question. In today’s complicated business climate, is your accounting software helping you grow and compete—or holding you back?

Topics: accounting software ERP 2017 Buyer's Guide