We recently spoke to our friends at Nexonia about Sage Intacct expense tracking. They shared some of their thoughts around the cloud and how cloud-based solutions are shaping the future, especially when most organizations are working remotely during COVID-19.
Read their blog below about improved Sage Intacct expense tracking.
Though powerful and plentiful, Sage Intacct’s built-in expense management tools aren’t a one-for-all fit. To offset its limitations, organizations of all sizes typically rely on a handful of disconnected systems to manage expenses which impacts productivity company-wide.
These disparate systems unintentionally creates roadblocks that directly impact an organization’s operating efficiency. Such process jams can manifest themselves as lost or missing receipts, late expense report submission, long reconciliation cycles, errors within reports, and more.
Help from Cloud-based Solutions
You’re not alone if you endure the same frustrations. For- and non-profit organizations alike can find relief in cloud-based solutions. Such tools aid in streamlining your expense tracking processes with greater speed and accuracy. Best of all, they can adapt and grow with the organization.
They also award both end-users and approvers much-needed accessibility, improved reporting, and breakthrough insight into your spend culture. Intacct users are especially primed to see measurable upticks in expense tracking productivity—if you’re selective about the cloud-based option you add.
You probably already inferred that not all solutions are created equal. Those hailed as best-in-class come packaged with a full suite of options to drive efficiency and clear process bottlenecks. However, if those features are designed without input from real people, they risk complicating the process unnecessarily.
Sage Intacct users benefit from solutions with features like bi-directional data syncing, multi-entity functionality, and robust configurability. High levels of customization also ensure a seamless integration with Intacct to unify disjointed processes and ease headaches.
Configurability also gives your finance team the freedom to spend more time being strategic by using the system to automate receipt capture, approval flows, and more. They’ll never have to double-key an expense report into Sage Intacct ever again.
Knowing where to begin your search for the right solution can be daunting. Like with any new business choice, establishing a plan gives you the best chance of finding the right choice.
Nexonia recently published a guide for evaluating solutions to assist professionals in your situation create their plan. They recommend the following five steps:
- Determine your goals: By focusing on your desired outcomes for all users, you’ll have a more efficient evaluation process.
- Map your current process: Diagram your expense process end-to-end for every user to understand the time it takes to create an expense report.
- Identify what type of integration you need: Consider how you want your expense solution to communicate and interact with Sage Intacct.
- Determine what each user wants from the solution: List the elements your users, approvers, finance department, and IT hope to get from the chosen solution.
- Evaluate your options: Now that you’re armed with the information you need to make an informed decision, it’s time to put ideas into action.
You can download a free copy of Nexonia’s The 5 Steps for Choosing an Expense Solution for Sage Intacct for a deeper dive into each plan creating step. It also comes packed with forms to perform side-by-side comparisons of different solution vendors during your evaluation process.
Tracking expenses can be tricky, even with the inherent power of an ERP like Sage Intacct serving as your financial department’s backbone. The cloud is home to solutions that solve many business challenges.
Expense reporting is no exception. When paired with Sage Intacct, the solution’s ability to be tailored to fit the needs of your organization leads to its ability to improve efficiency for everyone.
Selecting the right solution doesn’t have to be one of those challenges. With proper planning and implementation, the addition of a dedicated expense solution can make a measurable difference in your organization’s operational efficiency—and impact.
We hope that you enjoyed Nexonia's article. In today's world of cloud-based remote working it is important to choose the right solution for your organization. Nexonia has worked with a lot of our for-profit and not-for-profit clients. In particular, Nexonia helped Frisco First Baptist Church transition to a cloud-based expense management system to reduce errors. "We were dealing with missing transactions, receipts, and invoices,” explains Janet Bresson, Director of Accounting. “A quarter of receipts were lost, sometimes they’d been scribbled on, otherwise admins needed to track down pastors for signatures. The time spent on these manual tasks was extreme.” Within two months of going live with Nexonia Expenses, Frisco First saved 40 hours a week by eliminating the need to re-enter data into Sage Intacct and ramping up productivity.
If you'd like to learn more about Nexonia, please email me at email@example.com.
Nexonia is part of Emburse, a global leader in expense management and AP automation solutions, which is trusted by more than 4.5 million users in more than 120 countries. Over 14,000 customers, from start-ups to global enterprises organizations, rely on Emburse’s tailored, highly-configurable solutions. Emburse enables organizations to make faster, smarter decisions, empower business travelers to recapture lost nights and weekends spent doing tedious expense management, and help make users’ lives -- and their businesses — better. For more information about Emburse, please visit emburse.com.
Nexonia's simple-to-use expense, time, travel and other business financial management applications are fully integrated with ERPs, credit cards, and other systems supporting a variety of businesses, and are designed to streamline the reporting and approval process, improve human resource management, and enhance operational efficiency.