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AcctTwo Blog

Finance Leaders Overcome Digital Transformation Challenges to Come Out Stronger

If the COVID-19 pandemic has taught us anything, it’s that business operations needs to be early adopters of technology to overcome digital transformation challenges. Traditionally, finance and operation teams tend to be more conservative when adopting  platforms, so that controls and bugs are properly vetted, however – in our new remote world, we need to be as connected as ever. “An AvidXchange survey of 500 businesses found that since the pandemic began nearly three out of four businesses (74 percent) have added new technology to enhance work, reducing pressures and creating agility as they navigate a rapidly changing work environment.”

Topics: Finance Transformation Digital Transformation The Future of Finance and Accounting Remote Working General

AcctTwo’s Church Finances Leader Allison Webb Guests on Ministry Architects’ Webinar

AcctTwo’s Head of Nonprofit, Allison Webb, was the latest guest on Ministry Architects’ webinar: “How to Be More Confident in Your Church Finances for 2021”. Allison and Jeff Dunn-Rankin, Ministry Architects’ Executive Vice President, talked about how to make fiscally wise decisions for your church finance digital transformation in 2021.

Topics: church accounting church ministry Faith-Based ministry Digital Transformation

The Role and Expectations of the CFO in the Pandemic

Marcus Wagner, AcctTwo’s Founder & CEO, discusses the harsh reality of doing business during the COVID-19 pandemic on Financial Executives International’s (FEI) website. The role and expectations of CFOs and finance teams is changing as they face immeasurable challenges and make tough decisions. “The COVID-19 pandemic and its associated economic impact brought a wave of unforeseen challenges to company financial leaders, forcing many to make difficult and strategic decisions in order to remain in operation as businesses around them shuttered.”

Topics: outsourced accounting outsourced finance and accounting Finance Transformation Digital Transformation General

Bolster Business Resilience with a Proactive Plan Post-COVID-19

Last week Marcus Wagner, AcctTwo's Founder & CEO, presented a webinar with Bill.com on how to bolster business resilience with a proactive plan. COVID-19 has brought upon unprecedented challenges and changes for businesses of all sizes. It’s critical to begin the shift into the learning and adaptation phases as quickly as possible to be able to emerge stronger from the pandemic.

Topics: cloud adoption risk mitigation Digital Transformation The Future of Finance and Accounting General

Why Everyone is Updating Their ERP 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 ERP software is about more than just a tech upgrade.

Topics: accounting software ERP Accounting Digital Transformation General

Client Blog: Silvertip Completions Cuts Costs in Nearly Half with FieldFX Integration From AcctTwo

Special Client Guest Blog By:
Kyle Kirk, CFO, Silvertip Completions 

From day one, our goal at Silvertip Completions has been to automate manual processes that are generally accepted as standard, full-time employee (FTE) driven activities by most oil and gas companies. The implementation of FieldFX, LiquidFrameworks’ mobile field operations management solution, coupled with AcctTwo’s FieldFX integration with Sage Intacct has been the largest and most successful advancement for Silvertip in that vision.

Topics: cloud accounting budgeting risk mitigation Digital Transformation business continuity General

Proactive Planning Playbook Is More Important than Ever

Like many of you, I’ve been stuck at home trying to rethink my daily life under the new threat, stress, and uncertainty of the COVID-19 pandemic. Questions about how we shop for groceries, how our kids continue to get their educations, how we safely socialize, and how we don’t lose our minds during this time period have challenged us to find answers daily

And we’re the lucky ones – those of us with jobs and in good health. I’ve come to the realization that everything this year will be seen later through the lens of this crisis, including the need for a proactive planning playbook in many areas of our lives and businesses.

Topics: cloud accounting budgeting risk mitigation Digital Transformation business continuity General

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

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