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AcctTwo Blog

How to Know It’s Time to Switch to Cloud Based Accounting Software

It’s likely that when your company was started or founded that your executive team went with the easiest, quickest, and most cost-friendly accounting software to handle its accounting needs just to get things started. But the truth is that start-ups outgrow the tools that launched the company. Not only can your old system be outdated, but ability to handle higher volumes of work might even be inhibiting your ability to grow.

Topics: accounting software ERP cloud accounting Accounting Finance Automation Sage Intacct ERP Cloud 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

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 Sage Intacct Digital Transformation IP Leap the Pond Customers

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 Sage Intacct Digital Transformation Leap the Pond Customers

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 Sage Intacct RPA Digital Transformation ERP Cloud Customers

Sage Accounting Software Expert Advice for ERP Implementation Success

Most Sage accounting software and other ERP experts agree that the implementation is what ultimately determines the success or failure when upgrading to a modern ERP solution. Your new ERP selection could be advanced in every way, but if your implementation is slow, expensive, or difficult, then the ROI will always fall short.

The key is to stop thinking of the implementation as the first step. It's actually several steps into the process and requires a fair amount of preparation and planning in order to avoid common setbacks. If you're eager to introduce all the advantages of ERP, use these best practices to ensure a successful implementation:

Topics: accounting software ERP Implementation

Enterprise Software Buyers Should be Cautiously Optimistic

Brian Sommer has made a career out of analyzing the enterprise software space, and his evaluation of the industry in 2017 is mixed at best.

He talks about some of the themes we have been reporting on for months, including the rise of big data in accounting and new revenue recognition rules. He also talks about cloud ERP reaching maturity and becoming the standard for multiple industries.

His outlook is not entirely positive or even neutral, however. Sommer calls attention to vendors struggling with growing pains and passing on costs to customers. Enterprise HR draws particular ire as companies continue to seek solutions for training and culture on a large-scale. The explosion of overlapping "platforms" is also creating confusion for enterprise software buyers.

Topics: ERP Diginomica Sage Intacct

Exploring ERP Integration and the iPhone

Celebrating ERP Integration on the iPhone's 10th Anniversary 

The first iPhone went on sale June 29, 2007. Over the following decade, it became one of the most transformative technologies ever introduced. Few people realized it then, but that day in late June represented a major tech milestone.

Topics: ERP History of ERP

Cloud Financials: What Was Once Considered Unsafe Might Be the Only Hope Against Cyber Attacks

The size and scope of cyber attacks reached ever more alarming levels in the past year. Reports indicate that instances of ransomware attacks increased by 300% in 2016, with up to 4,000 attacks occurring on a daily basis. And in just Q3 of 2016, over 18 million new samples of malware were discovered.

This is shocking information for any enterprise, but particularly for those dealing with large volumes of financial data. Securing this data is not just a priority - it is now an existential concern for companies of all sizes in every industry.

Topics: ERP Security cyber-attack

Why In-Memory Databases Are Now Essential for ERP

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.

Topics: ERP Business Intelligence / Analytics Analytics-as-a-Service In-Memory Database