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AcctTwo Blog

Sage Intacct Provides Transparency to Marinus

Like so many companies, Marinus chose to use QuickBooks at the outset. But as Marinus expanded operations, it found that QuickBooks did not meet its needs for internal controls, management reporting, and external reporting:

  • Journal entries could easily be overridden
  • The chart of account structure required for tracking expenses by department and project was cumbersome
  • The financial reporting and budgeting capabilities were very limited and led to time-consuming, manual manipulation outside the application

Marinus needed an accounting solution that would tackle these concerns and also provide controlled access to real-time information to internal and external stakeholders alike.

Topics: accounting software ERP Accounting Customer Success Sage Intacct Digital Transformation IP Leap the Pond

Continuity Breaks Free From Excel with Sage Intacct

Continuity’s rapid growth put pressure on the finance organization to keep up. Like so many companies, Continuity originally chose to use QuickBooks and was forced to rely on spreadsheets to maintain complicated revenue recognition schedules for multi-entity arrangements and to deliver management and investors typical SaaS metrics like CMRR, CAC, and churn.

When Alan Hurwitz joined Continuity, he recognized the importance of putting in place the accounting infrastructure to support the company’s growth and at the same time offer a compelling value proposition (i.e. measurable ROI.) His auditing firm, Fiondella, Milone & LaSaracina, recommended that he talk to Leap the Pond. After Alan reviewed all his options, he decided that AcctTwo and Sage Intacct was the best fit – from both a functionality and cost standpoint.

Topics: accounting software ERP Accounting Customer Success Sage Intacct Digital Transformation Leap the Pond

Why Everyone is Updating Their Accounting Software Right Now

New research shows the accounting software market will grow to $11.8 billion by 2026, up from just $5.7 billion in 2017. The expansion is impressive but not really surprising considering that most companies are going through a digital transformation right now. But what gets lost in that explanation is that new accounting software is about more than just a tech upgrade.

Topics: accounting software ERP Accounting Digital Transformation

How SaaS CFOs Leverage Finance Automation

Bowery Capital’s annual Finance and Ops Summit draws hundreds of finance leaders from fast-growth SaaS companies, many of which are seeking to upgrade their financial foundation to deliver a higher level of reporting and forecasting.

Several CFOs from great growth companies that have relied on Sage Intacct cloud financials shared their experiences about how they transitioned from QuickBooks to streamline their financial operations and address key decisions around forecasting, SaaS metrics, subscription billing, and revenue recognition. 

Topics: accounting software ERP Accounting Finance Automation Customer Success Sage Intacct RPA Digital Transformation ERP Cloud

How to Convince Your Exec Team It’s Time to Switch Cloud Accounting Software

It’s likely that when your company was started or founded that your executive team went with the easiest, quickest, and most cost-friendly solution to handle its accounting needs just to get things started. But the truth is that start-ups outgrow the tools that launched the company. Not only can your old system be outdated, but ability to handle higher volumes of work might even be inhibiting your ability to grow.

Topics: accounting software ERP cloud accounting Accounting Finance Automation Customer Success Sage Intacct RPA Digital Transformation ERP Cloud Accounting SaaS

5 Trends in Fund Accounting for 2018

We've read and written quite a bit about how quickly accounting regulations, processes, and technology are changing in the private sector, but many of those trends also apply to nonprofits and government entities whose accounting revolves around funds. Fund accounting is different from for-profit or commercial accounting. It encompasses most aspects of commercial accounting but goes beyond those requirements in both form and function. Learn about five important trends we see in the world of fund accounting:

Topics: accounting software Not-for-profit Industry Fund Accounting

Church Accounting Software Buyer Trends for 2018

There are two developments transforming the way that churches operate. First, churches are increasingly relying on technology to manage large congregations, different initiatives and departments, and ever-expanding footprints. Second, they are increasingly obligated to practice accounting with the sophistication and transparency that people expect from major companies and large nonprofits.

Topics: accounting software church accounting Faith-Based

5 Ways to Ensure a Successful ERP Implementation

Most experts agree that the implementation is what ultimately determines the success or failure of an ERP or financial management software initiative. A solution could be advanced in every way, but if it's slow, expensive, or difficult to implement, the ROI will always fall short.

Topics: accounting software ERP Implementation

How New Technology Provides Stability and Certainty

Depending on whom you ask, we are living in a time of either disruption or innovation. Legacy brands, traditional channels, and long-standing consumer expectations are all falling by the wayside. And while some companies are faltering, others are surging.

What separates companies on the rise compared with those on the decline is not their size, industry, or orientation. It's their agility in the face of uncertain circumstances. Regardless of your evaluation of the present moment, the one undeniable truth is that things are changing fast.

Topics: accounting software technology risk mitigation

This WSJ Article Sure Sounds Familiar

A recent Wall Street Journal article reiterated a point we have been emphasizing for years: When it comes to accounting, Excel is outdated and inadequate for all except the smallest businesses. It is a spreadsheet tool, not an actual piece of financial management software. As a result, it tends to be inefficient and unproductive, particularly for companies geared for growth.

The WSJ cites companies as diverse as P.F. Chang's China Bistro and Wintrust Financial Corp that ran up against the limits of Excel and suffered setbacks as a result. All of them introduced more sophisticated software later, but let's focus on why that was necessary in the first place.

Topics: spreadsheets accounting software Excel