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AcctTwo Blog

SaaS Accounting: Technology Is Great, but It's Nothing Without the Right People

It's next to impossible to overstate how much technology has (and will) change the face of business. But what is just as remarkable is how crucial the human element remains in offices around the world.

Advances in automation, big data, machine learning, and sophisticated analytics promise to make the impossible accessible. What these technologies will not replace, however, is highly-trained professionals with extensive experience and expertise in SaaS accounting.

Topics: FAO bpo BPaaS Managed Accounting Services (MAS)

The Industry is Evolving to Embrace Managed Accounting Services

The definition of "accountant" is different today than it has been at any other time in history. Traditionally, these professionals were labeled as bean counters and number crunchers. The work they performed was essential, but it did not rise above the level of administration.

Topics: FAO bpo Managed Accounting Services (MAS)

Managed Accounting Services Isn't an All or Nothing Proposition

Today's accounting departments are growing and evolving at a historic pace. Now that every conceivable business process has become driven by data, financial professionals have taken on huge new responsibilities for data management and analysis while still handling GAAP.

Topics: bpo BPaaS Managed Accounting Services (MAS)

The Growing Need for Managed Accounting Services

Is it Time to Consider Managed Accounting Services

Data is the currency of the future. The organizations that make the most of the information flooding into their offices gain a distinct competitive advantage and lay the foundation for sustained success.

The challenge, however, is that data has no value unless it's tracked, stored, managed, and analyzed carefully. And while most companies have more than enough data to work with, few have the resources necessary to leverage it successfully.

That forces ambitious companies to make a difficult choice – add expensive new staff and technology to the ranks, or risk losing out on the next big opportunity. In order to resolve this catch-22 scenario, consider a third possibility.

Topics: bpo Business Intelligence / Analytics BI BPaaS Analytics-as-a-Service Managed Accounting Services (MAS)

Managed Accounting Services: It's About Adding Value

The common line about Managed Accounting Services (MAS), also known as Business-Process-as-a-Service, BPaaS, or Business Process Outsourcing for accounting and finance, is that it's mostly a way to cut costs. But that's like saying the best thing about not having to sleep much is that you save a ton on bedding. It misses the point.

It's true that MAS can have a real and ongoing impact on budgets. In practice, however, enterprises realize value in many ways. MAS is less a way of keeping costs in check and more a means to optimize everything you do. Here are some examples:

Topics: bpo F&A outsourcing Outsourcing BPaaS Managed Accounting Services (MAS)

How Managed Accounting Services Empowers You to Thrive with Fewer Accountants

Corporate accounting practices have always been under scrutiny, but in recent years, regulators have stepped up their efforts and looked a lot closer at enterprises regardless of size or vertical. In response, these enterprises have had to bring accountants onboard with the technical expertise to ensure compliance and establish internal governance.

Topics: FAO bpo Accounting BPaaS Busines-Process-as-a-Service

What is BPaaS and Why Should it Matter to Your Business or Nonprofit?

AcctTwo CEO Shares Insight about the Changing Nature of Outsourcing

Back in March, AcctTwo's Founder and CEO, Marcus Wagner contributed a piece to Accounting Today's Accounting Technology section about the spectrum of cloud technology adoption, and how Houston and Austin, TX are a great representation of how cloud and SaaS have been received nationally. Accounting Today recently asked him to provide some insight into another piece of AcctTwo's business: Business-Process-as-a-Service or BPaaS, and that article was published this week.

Topics: business process outsourcing bpo F&A outsourcing accounting outsourcing BPaaS

Staffing Your Finance and Accounting Department

"If only I had the right people..."

As a small or mid-sized business owner, how many times have you said that phrase to yourself or to others? This concern applies to all areas of your business, but can be especially challenging to the entrepreneur trying to build a quality accounting team because they often times lack the background, expertise, or patience to hire their own accounting department. Not only is it costly and time consuming to find the right people for this critical department, but there's also the challenge of finding the the right balance of skills versus costs. This balancing act becomes even more difficult when trying to staff a small department. How do you staff half of a controller, one quarter of a cash applications person, and one quarter of an accounts payable person, while still providing the accounting expertise for the future? This is never an easy task, even if you can find a qualified person willing to split tasks among different levels of work.

Topics: FAO bpo F&A outsourcing Outsourcing BPaaS Staffing

Changes in the Accounting Profession and How They Affect Your Business

As the Demand for Accounting Professionals Increases, How Do You Keep Your Business Moving Forward?

AcctTwo is not just the overall Business Partner of the Year as a reseller and implementation partner for Intacct's best-in-class ERP software. We also provide Business-Process-as-a-Service (BPaaS), known to some as Finance and Accounting Outsourcing (FAO) or Business Process Outsourcing (BPO), where we take on part or all of a midsize company's finance and accounting function. As the COO at AcctTwo, I've spent a great deal of time building our BPaaS team, and I can tell you from experience that finding and keeping great accounting talent is no easy task. A quick search on the internet will tell you that it's not just my problem - it's an industry trend.

Topics: FAO bpo Outsourcing Accounting BPaaS

Charity Finances - an Article with Great Resources

At AcctTwo we feel it's always nice to find great sources of information for our customers. The article linked below on the Guardian has some good advice for those managing the finances of small charity and non-profit organizations. Since we provide clients with non-profit accounting software, we thought we should share this out in case people find it helpful.

Topics: Blog Not-for-profit Industry bpo Outsourcing Informational Featured Posts Awareness