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AcctTwo Blog

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Street Journal article reiterated a point we have been emphasizing for years: When it comes to accounting, Excel is outdated and inadequate for all except the smallest businesses.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

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

AcctTwo Guide for the Software Accountant Preparing for a New ERP

What Questions Should You and Your Team Be Able to Answer?

So you’ve outgrown your current software accountant solution or ERP system. It’s either an entry level product like QuickBooks or Xero and your business has grown in size and complexity and needs a more sophisticated solution, or you’re embracing the cloud and Software-as-a-Service, and have learned what thousands of other companies have discovered: that with new available technologies, even small to midsize companies can take advantage of ERP sophistication once reserved for much larger enterprises.

Topics: accounting software ERP eBook Implementation

Multi-Entity Accounting: Make Sure Your System Can Scale with Your Business

From the Perspective of an AcctTwo Implementation Consultant

As a Professional Services Manager at AcctTwo, I've been involved in dozens of implementations of Intacct's on-demand ERP products. When asked what I see as the key requirement or function of an ERP system for our customers, it's tough to pick just one. Along with the ability to provide powerful and relevant reporting, process automation, and configurability, I also see scalability as a key requirement. And one of the main ways in which we provide our customers with the ability to scale is through Intacct's multi-entity architecture.

Topics: accounting software ERP Multi-Entity and Consolidations

Spreadsheets in Finance: Manual rollups, errors, needless complexity, and simplistic reporting

We've posted before about the dangers of Excel-based reporting and other spreadsheet pitfalls in finance and accounting. Spreadsheets are an indispensable tool for some personal productivity and job functions, but they can be a hindrance to effective processes and controls in finance and accounting departments.

Topics: Blog spreadsheets accounting software White Paper Excel Featured Posts Awareness

SMB Confidence in Cloud-Based Accounting Skyrockets in 2015

Last December we posted a link to Software Advice's Consumer Confidence in Cloud-Based Accounting IndustryView for 2014. That study showed that although small to midsize businesses still lagged behind larger organizations, a majority of them already expressed confidence in cloud accounting solutions. Essentially 2014's report told us that confidence in cloud-based accounting software among small to midsize businesses had reached a tipping point. 

We were therefore eager to find out how things have changed in just one short year. Well the new study is out and the findings are pretty dramatic.

Topics: accounting software cloud financials cloud accounting software selection Cloud computing

6 Reasons Why Your Old Accounting System Can't Get a Death Grip on You

I subscribe to the Harvard Business Review and constantly find fascinating articles about business, marketing, accounting system software, human resources, and human nature. They are often great to share with your boss and co-workers as you collaborate to improve your business or your company culture. Sometimes you might want to share them, but end up hesitating and reconsidering (see Your Late-Night Emails are Hurting Your Team). Good advice, but better kept to yourself?

Topics: Blog accounting software Cloud Computing / SaaS Consideration

Essential Features of a Modern Accounting System for Professional and Technical Services Companies

Accounting systems are not something you change or replace very often. However, as your professional or technical services company grows in size or complexity, you will reach a point where manual processes are draining your productivity and you struggle to analyze the growing range of your financial and operating data. You’ll need a better way to handle accounting within your services company. You’ll need to modernize your system.

Topics: Blog accounting software Professional Services Industry Software Evaluation White Paper Consideration

How to Make Sure Your ERP Vendor Doesn't Drag Your Good Name Through the Mud

Don't let your ERP selection process get ugly.

When it comes to choosing a new accounting, financial management, or ERP system for your growing business, there aren't many resources out there as good as FindAccountingSoftware.com.

Topics: Blog accounting software Software Evaluation Decision