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AcctTwo Blog

Time to Close the Books is Trending Downward Due to Advances in Technology

Accelerating time to close has not traditionally been a key focus for finance and accounting executives. But now that companies of all sizes across all industries (including nonprofits) are looking for a competitive advantage, every process is ripe for improvement. And thanks to new approaches and new capabilities, time to close has shrunk significantly.

Topics: financial close Automation and Workflow General Ledger and Month-End Close process automation Finance Automation

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

Machine Learning – Unlocking the Full Potential of Accounting

Despite all the technological progress that has been made over the last 150 years, accounting has changed very little. The daily work of most accountants involved massive amounts of data entry, clerical work, and administrative routines. Spreadsheets may have replaced ledgers, but the role of the accountant never really evolved.

That is quickly changing with the advent of machine learning. This 21st century technology is still in its infancy, but already it’s having an impact on the accounting profession that is broad and deep. As the potential of machine learning continues to advance, look for the expectations of accountants to change radically.

Topics: Automation and Workflow process automation Finance Automation Machine Learning

White Paper: 7 Steps to a Faster, Better Close

In today's world, we expect instantaneous information with the click of a mouse. It's really no different for the consumers of financial information, whether they be CEOs, CFOs, board members, or investors. What does this mean for producers of that financial information? It means that it's very hard to meet expectations without the right people and the right technology.

Topics: financial close White Paper Automation and Workflow month-end close General Ledger and Month-End Close

Blessed are the Flexible! Part 2 - Automation

This is Part 2 of our Blessed are the Flexible Series. Click here to read part one.

The Young and the "Seasoned"

I think there are two groups of people - and keep in mind this opinion is coming from a seasoned individual, which is a nice way of referring to the “older generation.” There are the older folks that are comfortable with manual workflows – passing paper like a relay baton. It works, right?

Topics: Blog Faith-Based Software Evaluation Automation and Workflow Featured Posts Blessed are the Flexible Awareness

Best Practice Trends for Nonprofits: Automating Your Processes

From Intacct's View from the Cloud Blog:

This is the final post in this series on nonprofit best practice trends. We've covered some key areas that you'll want to make sure to consider as you plan and execute in the coming year. This week's topic is automating your processes.

Topics: Blog Not-for-profit Industry View from the Cloud Intacct Automation and Workflow Awareness

How We Work: Social Collaboration across Processes and Departments

We began a series of articles about How We Work nearly a year ago, where we touched on the history of workflow, the effect of technology on workflow and collaboration, and the impact of social media-style collaboration software on how we work together. Right around the time we posted about social media and collaboration tools, we began to use and experiment with Salesforce Chatter here at AcctTwo. 

Topics: Blog Software Integrations how we work Intacct Customer Relationship Management (CRM) Automation and Workflow Awareness

Does billing and payments reconciliation have to be so time consuming?

Originally posted on Intacct's View from the Cloud Blog:

Today's blog is a guest post from William Barber, CEO of 2C Processor (2CP). 2CP will be a Platinum Sponsor again at Intacct Advantage this year and will be exhibiting at Booth #100 in the Marketplace Expo. Be sure to stop by to meet William and his team!

Topics: Blog View from the Cloud Intacct Automation and Workflow Awareness Credit Cards Payment Processing

When did billing become so complicated?

Intacct's View from the Cloud blog is a constant source of good information about cloud computing, accounting, metrics, financial management, and ERP. Their latest post is actually a guest blog post from Nick Puni, President of Serrera. Sererra Consulting Group is a leading IT technology and management consulting firm focused on delivering turnkey business solutions for midmarket firms worldwide. 
Topics: Blog View from the Cloud Intacct Billing and Accounts Receivable Automation and Workflow Awareness

7 Deadly Sins of Financial Management (Infographic)

A great article and Infographic in Entrepreneur Magazine:
Financial management is the beating heart of every single business. Money pumps in, money pumps out, and it’s critical to ensure you’re following the right regimen to maintain the health of the organization. As most businesses grow, however, their customer base and supply chain evolve and become more complex.
Topics: Blog accounting software management reporting Intacct Business Intelligence / Analytics Financial Reporting Cloud Computing / SaaS Intacct Media Coverage Automation and Workflow Financial Analysis, Ratios and KPIs Awareness Infographic