AcctTwo Blog

One of our industry focuses at AcctTwo is the Software and Technology industry, specifically SaaS companies, which have very specific needs around subscription billing, customer relations, recurring revenue, and metrics.  We’ve learned over the years that the same need for SaaS business intelligence applies to just about any company that sells goods or services on a subscription basis. Sage Intacct, with its native Salesforce integration, subscription billing, revenue recognition, and contract management capabilities, has shown itself to be the ideal financial management platform for these fast-growing businesses, particularly when QuickBooks and Excel become too unwieldy to manage complex contracts and the metrics needed to run the business and to raise money for growth and expansion. 

The proliferation of automation and digitization technologies over recent years has been a boon for all. Enterprises of all sizes and across all industries are replacing manual, paper-based processes with machine intelligence and robotic capabilities. These companies have achieved even more impressive benefits than many expected enabled by the adoption of managed accounting consulting.

To quote Wayne’s World, “We're not worthy!”, is how most startups feel when reporting to investors, or potential investors, with their outdated Excel sheets riddled with manual errors. You started your startup on the core belief that your product or service is game changing, and you want the world to know it. But the minute you get in front of an investor you start to second guess yourself and your numbers.

Some people call this an age of innovation. Others call it an age of disruption. No matter what your perspective is, deep change is the constant.

A recent survey of more than 800 UK businesses revealed that 2/3 believe innovation is crucial for survival. That makes sense at a time when small startups are unsettling entire industries and chipping into the market share of companies generations-old.

Data is a priority for every organization these days. That could mean a full-blown big data initiative designed to capture all available data and analyze it as deeply as possible. Or it could mean a more modest effort simply aimed at organizing and leveraging data effectively. Either way, experience and expertise with data is invaluable.

With that in mind, recently released figures from the employment website Glassdoor make a lot of sense. Consider these eye-opening stats:

If you roll your eyes a little when you hear the phrase "Big Data," you're hardly alone. For around a decade now we have heard endlessly about the vast potential of a data-driven future. And everything from restaurant service to automotive safety was supposed to improve once analytics were applied. The key to unlocking anything and everything was promised. Unfortunately, it hasn't arrived yet.

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. While most companies have more than enough data to work with, few have the resources necessary to leverage it successfully. Ambitious companies are forced 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 enlisting a third possibility.

In layman's terms, an in-memory database is simply a repository of data that does not rely on disk storage. Instead, the data is stored in the main memory, closer to where the actual processing takes place.

This is not a new technology. However, where an in-memory database may have been an optional consideration in the past, it’s now considered essential for enterprises that manage a lot of data and rely on complex analytics. But smaller companies and nonprofits now have access to a lot of data as well, and if they want to remain agile, they need to be able to analyze that data in real-time.

Is Business Intelligence Part of Your ERP Tools?

It’s the first day of the month, the finance and accounting teams are reconciling balance sheet accounts, recognizing revenue, accruing expenses, and recording financial transactions. Everybody is busy working against the clock to have the financial statements ready on time. Then a request from the senior management team arrives. They want a series of sales reports so they can decide when to launch the new product line.

This is a situation where a Business Intelligence solution would’ve been very handy. But let’s start with the basics.

AcctTwo CEO Interviewed on Texas Business Radio

AcctTwo's Founder and CEO, Marcus Wagner, was recently interviewed by Matt Register and Jay Curry on Texas Business Radio. Marcus describes the new powerful Software-as-a-Service technologies available for small to midsize businesses. ERP, Accounting, and Financial Planning and Analysis (FP&A) tools are now affordable and accessible, allowing companies and nonprofits to make their finance and accounting departments an enabler of growth rather than an obstacle to growth.