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AcctTwo Blog

A Customer’s Perspective on Strategic Accounting in the Cloud

Cloud technology is rapidly gaining momentum and revolutionizing the accounting and finance industry. The IMA® (Institute of Management Accountants) recently hosted a webinar, sponsored by Sage Intacct. The webinar included a panel discussion regarding strategic accounting in the cloud featuring three Sage Intacct customers and finance leaders; Ashmi Shah, CFO at Talix, Elliot Goldman, finance director at Rapid Ratings (and Baker Tilly client), and Melissa DuVall, finance team lead at Epitec.

Topics: Digital Transformation General Not-for-Profit and Faith-Based

Home Service Management Software: Life After Tech

This is the third post in our blog series about issues that matter to the home services CFO (and the investors who rely on them). Our last article explored how growth creates the need for smarter, more scalable software and why choosing solutions that integrate matters most.  

Topics: General home services industry

Financial Accounting Software: 4 Ways to Improve Financial Reporting

Financial accounting software with effective financial reporting empowers companies to operate flexibly, strategically and confidently. More commonly, however, reporting in outdated software is a cumbersome process with minimal benefits. Despite spending ample time and resources pouring through data, companies learn little to propel themselves forward.

The specific pain points that limit the potential of financial reporting are unique to every organization, but they can all be traced to common problems. By focusing on those, it's possible for any company to transform reporting into a true, strategic asset. Follow these four strategies to learn more in less time:

Topics: Financial Reporting Dashboards General Not-for-Profit and Faith-Based

How AI Will Transform Not-for-profit Financial Management

Frequently changing societal and financial trends are causing not-for-profit organizations to constantly adjust their priorities and goals. Organizations working with lean staffing and small budgets rarely have the resources to truly innovate through technology. Artificial Intelligence (AI) has the potential to enhance not-for-profit operations, such as financial management. Computing has become more cost-effective and efficient recently, and technology solutions like AI-powered, not-for-profit financial management are no longer constrained by power or computing capacity. 

Topics: Digital Transformation Not-for-Profit and Faith-Based

How to Spur Growth & Attract Investors with an Automated SaaS Dashboard

During the last 20 years since Salesforce first launched their CRM, they have grown to be one of the largest SaaS companies in the world. The SaaS model has become omnipresent. Even with incredible market growth, many SaaS and subscription startups fail for operational and financial reasons or due to market fit. Others are unable to secure the proper funding whole they find their way to sustainable growth. Keep reading to find out how an automated SaaS dashboard that visualizes and calculates the leading indicators of business health has helped startups, Series A, and even Series B companies succeed. 

Topics: SaaS saas intelligence General SaaS Industry

Demonstrating Impact With the Right Nonprofit Dashboard Indicator

A nonprofit KPI dashboard, at its core, should be a tracker that collects the most important outcome metrics in one place and updates them automatically based on changes to the underlying data, financial and operational. Like the dashboard of a car, it makes the performance of the nonprofit clear at a glance. 

Nonprofit dashboards are the final component of any effort to track outcomes. After identifying what KPIs to track, and how to track them, nonprofit dashboards offer a means to put those metrics to work on behalf of the mission, but the trick is knowing which nonprofit dashboard indicator to display.

Topics: church accounting Not-for-Profit and Faith-Based

Home Service Software: Avoid the Growing Pains

Home services providers can become victims of their own success if they’re not prepared to scale important processes and home service software to match growth. Hiring more technicians and buying additional equipment are the obvious steps. Less obvious but equally important is scaling the accounting function, including the technology it relies on. Small degrees of growth can translate into drastically larger, faster, and more complex accounting obligations. And if a home services CFO and their team can’t meet those obligations, it creates countless liabilities that make success less sustainable and financial disaster more likely.  

Topics: General home services industry

Tame Your Wild Nonprofit Chart of Accounts with Dimensions

Without the right accounting software, your nonprofit Chart of Accounts (COA) can become unwieldy. Many nonprofits find it difficult to sift through ever-multiplying COAs with thousands of unique account numbers to create reports or fix errors during close. 

Topics: Not-for-Profit and Faith-Based measuring outcomes

Replacing QuickBooks: 5 Essential Features Your Startup Software Needs

Accounting systems that rely on manual processes, spreadsheets, and delayed reporting timeframes have no efficiency hacks. As SaaS and subscription businesses grow, their patchwork processes and accounting systems that worked so well in the past are now slowing business growth. Here are the five essential features to look for when considering startup software for your growing SaaS and subscription business.

Topics: SaaS saas intelligence General

'Accounting Digital Transformation' and Your Finance Department

What is it, and what does it mean for you?

Buzzwords, catch-phrases, and hype are the hallmarks of any talk about technology trends. We've written often about the "the Cloud," what it means and why it's important to properly define it, or at least agree on a definition when we're comparing products and delivery models. On the topic of "Digital Transformation," another hyped-up buzzword, I read a great article by David Terrar, an Enterprise Irregular and the CEO of Agile Elephant, a consulting firm focusing on, guess what? Digital Transformation.

Topics: Digital Transformation General Not-for-Profit and Faith-Based