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Overcoming Financial Growing Pains in Professional Services Organizations

In our services-centric economy, many project-based companies that provide technical and business services are fine-tuning their marketing strategies and business models to pursue growth. And the most recent benchmark report from SPI Research shows those efforts are paying off. The average net profits for the professional services organizations surveyed grew more than 10 percent for the fifth consecutive year. Of course, as those firms grow and expand, they place an added—and changing—burden on the finance organizations that support them.

Topics: Professional Services Industry Automation and Workflow Multi-Entity and Consolidations

Cloud Financials: What Was Once Considered Unsafe Might Be the Only Hope Against Cyber Attacks

The size and scope of cyber attacks reached ever more alarming levels in the past year. Reports indicate that instances of ransomware attacks increased by 300% in 2016, with up to 4,000 attacks occurring on a daily basis. And in just Q3 of 2016, over 18 million new samples of malware were discovered.

This is shocking information for any enterprise, but particularly for those dealing with large volumes of financial data. Securing this data is not just a priority - it is now an existential concern for companies of all sizes in every industry.

Topics: ERP Security cyber-attack

Video: How Much is QuickBooks Costing Your Business Today?

Some AcctTwo customers got on camera to discuss both moving from QuickBooks to Intacct and to AcctTwo's Managed Accounting Services on the Intacct platform.

Topics: Quickbooks Replacement Videos Customer Success Customer Satisfaction

AcctTwo Customer Demonstrates the Advantages of Best-in-Class

At AcctTwo, we're incredibly proud of our customers and their accomplishments. Moving to Intacct's on-demand accounting and ERP platform, implementing Adaptive Insight's suite of Corporate Performance Management (CPM) solutions, or taking advantage of AcctTwo's experienced Managed Accounting Services team are in themselves great achievements that show foresight and vision. Our customer, Oryx Midstream Services, is a great example. They were recently highlighted on Intacct's site for leveraging the integration between Intacct and Ariett, another best-in-class software vendor that provides cloud-based procurement solutions.

Topics: Intacct best-in-class Customer Success Procurement Ariett

Managed Accounting Services: It's About Adding Value

The common line about Managed Accounting Services (MAS), also known as Business-Process-as-a-Service, BPaaS, or Business Process Outsourcing for accounting and finance, is that it's mostly a way to cut costs. But that's like saying the best thing about not having to sleep much is that you save a ton on bedding. It misses the point.

It's true that MAS can have a real and ongoing impact on budgets. In practice, however, enterprises realize value in many ways. MAS is less a way of keeping costs in check and more a means to optimize everything you do. Here are some examples:

Topics: bpo F&A outsourcing Outsourcing BPaaS Managed Accounting Services (MAS)

Video: Managed Accounting Services with AcctTwo and Intacct

AcctTwo's customers (Bill Weathersby of Energy Water Solutions, Kristi Lanier of WUXI Nextcode, and Kevin Doffing of Sam's Safety) discuss the advantages of AcctTwo's Managed Accounting Services and Intacct.

Topics: Videos BPaaS Customer Success testimonials Managed Accounting Services (MAS)

Start Monetizing Your AP Stream in Less Than an Hour

In our daily lives, when we open our wallet to use our American Express card, we get rebates such as cashback and travel privileges. Every forward-thinking CFO has seen the potential to apply this approach in their business to both monetize their AP stream and dramatically reduce the cost of processing checks.

Historically, there have been two major barriers (a) The payments industry has been incredibly manual and (b) Doing this at “AP-scale” has been prohibitively complex and expensive. Well, times have changed.

This eBook will teach you how you can:

Topics: eBook White Paper Accounts Payable

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